Brexit News Archive: 22 Oct 2018

Hard Brexit threatens UK research, scientists warn

Crick Institute staff more likely to leave UK after country exits the EU
FT   |   Mon, 22 Oct 2018 21:05:18

Hard Brexit 'could cripple UK science', warn Nobel laureates

'The overwhelming negativity of scientists towards a hard Brexit should be a wake-up call to the country and the government'
Josh Gabbatiss / The Independent   |   Mon, 22 Oct 2018 21:00:43

Theresa May says 95% of Brexit deal is done

The prime minister tells MPs progress is being made, after days of speculation about her job.
BBC   |   Mon, 22 Oct 2018 20:28:01

No noose is good news as May stares down parliament on Brexit

Theresa May's enemies say she is in the political "killing zone", but she faced parliament on Monday to insist her Brexit plan was the best on offer.
Nick Miller / SMH   |   Mon, 22 Oct 2018 20:10:17

UK could seek extension to Brexit transition, says Theresa May

Question of the Irish border remains a major hurdle as London and Brussels seek to agree the terms of UK withdrawal.
Al Jazeera   |   Mon, 22 Oct 2018 18:54:58

GIbraltar rolling out the red carpet for crypto and distributed ledger technology

From The Trade - Crypto, Oct. 19: Gibraltar's Finance Minister, Albert Isola, talks regulation, Brexit and what hurdles might be holding back institutional crypto trading. The British overseas territory Gibraltar is rolling out the red carpet for crypto companies, with the country currently in the final stages of voting on ...
climateer / Climateer Investing   |   Mon, 22 Oct 2018 18:54:00

Theresa May sidesteps Tory rebellion by announcing plans to enshrine her Brexit proposals in law

The prime minister claimed this will negate the need for the EU's alternative which is hated by Brexiteer rebels
Joe Watts / The Independent   |   Mon, 22 Oct 2018 18:51:00

Theresa May offers plan to unblock Brexit talks

Proposal to MPs includes possibility of extended transition to 2021
FT   |   Mon, 22 Oct 2018 18:19:31

EUR/USD consolidates losses under 1.1500

US dollar still remains strong on risk aversion and Fed policy expectations. Euro pressured by Italy's budget drama and Brexit. The EUR/USD pair bottomed during the US session at 1.1454. It rebounded from the lows to 1.1475. As of writing was trading at 1.1470, 45 pips below last week close. ...
FX Street   |   Mon, 22 Oct 2018 18:14:39

Most UK firms to trigger Brexit safety plans by Christmas, CBI survey says

Taipei Times   |   Mon, 22 Oct 2018 18:04:58

UK's May pleads for support, says Brexit deal is almost done

Times of India   |   Mon, 22 Oct 2018 17:41:43

May: Brexit deal '95% done'

LONDON: British Prime Minister Theresa May said Monday a divorce deal with the European Union is in sight, though she admitted the final but most difficult part of the negotiations remains.
Bangkok Post   |   Mon, 22 Oct 2018 17:31:00

Brexiteers accused of using firearms debate for 'proxy row' over EU withdrawal

'If you think hijacking an important firearms debate for a proxy row over Brexit is acceptable, you're not fit for public office' said Labour's Louise Haigh
Ashley Cowburn / The Independent   |   Mon, 22 Oct 2018 17:27:39

Main Brexit threat to May comes from top team

Stance of Eurosceptic cabinet ministers anxiously monitored as critics talk up coup
FT   |   Mon, 22 Oct 2018 17:21:58

UK might need to seek a short extension to Brexit transition: Theresa May

"There are some limited circumstances in which it could be argued that an extension to the implementation period might be preferable if we were certain it was only for a short time," May told parliament. May was speaking to lawmakers about an EU leaders summit held last week.
Times of India   |   Mon, 22 Oct 2018 17:09:40

UK PM May: 'Can guarantee' UK will leave EU in March 2019

Additional comments from British Prime Minister Theresa May cross the wires as she responds to questions from lawmakers. Key quotes (via Reuters) 'Can guarantee' UK will leave EU in March 2019. Wants to prevent hard Irish border even in case of 'no-deal' Brexit. In the meantime, May's spokesman also recently ...
FX Street   |   Mon, 22 Oct 2018 17:00:54

'Hold our nerve' on Brexit, under-pressure May tells party

Theresa May has said it may be preferable for Britain to extend the period it remains tied to EU rules and regulations, as she called on her party to "hold our nerve".
Sky   |   Mon, 22 Oct 2018 17:00:00

UK's May tries to calm Brexit rebels, says deal almost done

Prime Minister Theresa May urged restive lawmakers to back her in the final stages of Britain's exit from the European Union, saying talks were in their most difficult stage even if a deal was close.
Reuters   |   Mon, 22 Oct 2018 16:54:45

May tries to calm Brexit rebels, says deal almost done

Prime Minister Theresa May urged restive lawmakers to back her in the final stages of Britain's exit from the European Union, saying talks were in their most difficult stage even if a deal was close.
Reuters   |   Mon, 22 Oct 2018 16:49:40

UK PM May's leadership is increasingly vulnerable to a challenge - Scotiabank

Analysts at Scotiabank noted the current state of UK politics with respect to the Brexit saga. Key Quotes: "An estimated 700k people marched in London at the weekend, demanding a "peoples' vote" on Brexit terms while reports suggest that rebellious Tory MPs have nearly secured enough support to trigger a ...
FX Street   |   Mon, 22 Oct 2018 16:27:25

UK might need to seek a short extension to Brexit transition: May

British Prime Minister Theresa May said on Monday that London might ask for a short extension of a planned transition period to ease its exit from the European Union.
Reuters   |   Mon, 22 Oct 2018 16:06:05

Brexit countdown: everything you need to know

As the UK's departure looms, the FT looks at the exit checklist and economic implications
FT   |   Mon, 22 Oct 2018 16:02:42

UK Brexit minister - parliament will have time to scrutinise EU exit deal

British Brexit minister Dominic Raab said the country's parliament will have enough time to debate any exit deal Prime Minister Theresa May agrees with the European Union, and that lawmakers will have a real say on whether to approve it or not.
Reuters   |   Mon, 22 Oct 2018 15:51:17

EU eyes Brexit customs deal to break Irish deadlock - sources

European Union negotiators are looking at ways to promise Britain a customs deal that could stretch Brussels' Brexit red lines but might break a deadlock over the Irish border, EU sources close to the talks have told Reuters.
Reuters   |   Mon, 22 Oct 2018 15:44:35

UK Brexit Sec. Raab: Brexit deal motion will be amendable

British Brexit Secretary Dominic Raab recently crossed the wires saying that the Brexit deal motion will be amendable as he continues to respond to questions from the lawmakers in the Parliament.
FX Street   |   Mon, 22 Oct 2018 15:32:20

Varadkar's Dig at Britain Leaves Him Looking Silly

The Irish Taoiseach Leo Varadkar tweeted this out on Friday night with a cheeky dig at Brexiting Britain's supposed future problems. The only problems with his tweet are: Ireland hasn't repaid all its debts arising from the credit crisis Britain lent* Ireland £3.2 billion during the credit crunch Ireland will ...
order-order / Guy Fawkes' blog   |   Mon, 22 Oct 2018 15:29:52

UK MPs cannot delay or prevent Brexit by amending vote - Raab

Any attempt to change the wording of a vote by the British parliament on a Brexit deal reached by Prime Minister Theresa May will not impact the agreement itself or prevent or delay Britain's departure from the European Union, Brexit minister Dominic Raab said on Monday.
Reuters   |   Mon, 22 Oct 2018 15:29:05

UK rebel Brexit MP set to withdraw Northern Ireland amendments, Times

A prominent rebel lawmaker in Prime Minister Theresa May's Conservative Party is set to withdraw amendments that would have made Brexit negotiations difficult, the political editor of The Times newspaper said.
Reuters   |   Mon, 22 Oct 2018 15:23:02

Exclusive: Aston Martin considers flying in components, changing ports to handle Brexit

Aston Martin is considering flying in car components and moving more parts through UK ports other than Dover to avoid possible border friction after Britain leaves the European Union, its boss told Reuters.
Reuters   |   Mon, 22 Oct 2018 15:20:45

UK Brexit Sec. Raab: Amendments to meaningful vote cannot delay/prevent Brexit

British Brexit Secretary Dominic Raab is now crossing the wires with key quotes, via Reuters, found below. Terms of meaningful vote on brexit deal to be for 'speaker to decide.' Amendments to meaningful vote cannot delay/prevent Brexit.
FX Street   |   Mon, 22 Oct 2018 15:12:59

Britain not looking to pay more money to EU - UK minister

British financial services minister John Glen said on Monday the government would not seek to pay more money to the European Union than it had to as part of its Brexit divorce deal.
Reuters   |   Mon, 22 Oct 2018 15:03:54

With divorce deal almost done, May repeats rejection of EU proposal on N.Ireland

Prime Minister Theresa May will on Monday say that 95 percent of Britain's Brexit deal has been agreed but repeat her opposition to a European Union proposal for the Irish border, a major stumbling block, as criticism within her party grows.
Reuters   |   Mon, 22 Oct 2018 14:53:11

Cost of extending Brexit implementation period is for negotiation - UK minister

The cost of any extension to Britain's post-Brexit transition period is a matter for negotiations with the European Union, British financial services minister John Glen said on Monday.
Reuters   |   Mon, 22 Oct 2018 14:47:15

Five questions for the ECB

Growing concern about the impact of trade tensions on the economic outlook, another spike in Italian borrowing costs, fraught Brexit talks and volatility in world markets make for a colorful backdrop to Thursday's European Central Bank meeting. The ECB is expected to repeat that its 2.6 trillion euro ($3.0 trillion) ...
Dean Popplewell / OANDA   |   Mon, 22 Oct 2018 14:41:50

Northern Irish DUP to back rebel Brexit amendment on Irish border - Telegraph

The Northern Irish party which props up British Prime Minister Theresa May will back an amendment proposed by rebel Brexiteer lawmakers that will effectively make the European Union's backstop proposal illegal, a Telegraph newspaper reporter said.
Reuters   |   Mon, 22 Oct 2018 14:32:38

US and European stocks slip as Italian rally cools

China equities jump on economic support pledge; pound under $1.30 as Brexit doubts grow
FT   |   Mon, 22 Oct 2018 14:27:08

EUR/USD tumbles to lows near 1.1470

The pair loses further the grip and is now testing lows near 1.1470. The greenback manages to clinch daily highs in the 96.00 neighbourhood. Italy, Brexit remains in centre stage so far today. The better tone in the greenback is gathering extra traction on Monday and drags EUR/USD to the ...
FX Street   |   Mon, 22 Oct 2018 14:24:14

Aston Martin considers flying in parts after Brexit

The boss of Aston Martin says border problems after Brexit could leave it unable to use Dover to send and receive parts.
Sky   |   Mon, 22 Oct 2018 14:17:00

Brexit & Beyond: Italy Vows to Stick to Budget That Breaches EU Rules

To subscribe to the newsletter, please sign up here MUST READS Italy Vows to Stick to Budget That Breaches EU Rules: Italy's government vowed to forge ahead with its spending plans Monday, despite warnings by the European Union that its proposed budget would breach the bloc's fiscal rules, raising the ...
WSJ Staff / MoneyBeat   |   Mon, 22 Oct 2018 14:09:13

David Davis Sells Out

Brexiteers need not panic, the former Brexit Secretary has not betrayed the Eurosceptic cause. Instead, a black-tie gala dinner at the Carlton Club hosted by the Margaret Thatcher Centre, which he is addressing, has sold out within days of tickets going on sale. Proving that the old bruiser still has ...
order-order / Guy Fawkes' blog   |   Mon, 22 Oct 2018 13:38:39

Brexit: EU set to decide whether British citizens will need visas after no-deal

Commissioners will meet in November to decide the controversial issue
Jon Stone / The Independent   |   Mon, 22 Oct 2018 13:37:00

State of the Union - Brexit and election interference

More than two years after the Brexit referendum, we seem still to be at square one. The high-level meeting in Brussels was supposed to come up with a breakthrough. Instead, the only thing that everybody shared was disappointment. Or, as Angela Merkel put it: I'm neither optimistic nor pessimis
euronews   |   Mon, 22 Oct 2018 13:34:50

GBP/USD weakens farther below 1.30 mark, over 2-week lows on negative Brexit headlines

• Negative Brexit headlines continue to prompts some fresh selling around the British Pound. • DUP said to is said to support a proposal to make the EU's Northern Irish backstop illegal. • Technical selling below the 1.3020-15 region further aggravates the selling pressure. The GBP/USD pair kept losing ground ...
FX Street   |   Mon, 22 Oct 2018 12:58:45

May's Brexit strategy is running out of road

Fury at the PM is rising inside cabinet and on Conservative backbenches
FT   |   Mon, 22 Oct 2018 12:47:37

Theresa May's office: 'Personal vitriol has no place in our politics'

'We must set a tone in public discourse which is neither dehumanising nor derogatory.'
Eline Schaart / Politico   |   Mon, 22 Oct 2018 12:39:46

The Sweet, Sad Music Of Brexit, by JD

On Friday I was listening to Roxy Music's "A song for Europe" and I have been thinking about it since then.When I did the music post on Bryan Ferry I deliberately left out "A song for Europe" because I thought it would be misunderstood; those who voted to remain in ...
Sackerson / Bearwatch   |   Mon, 22 Oct 2018 12:37:00

GBP/JPY Technical Analysis: Poised to slide back towards retesting 146.00 handle

• The cross met with some fresh supply near an important confluence resistance, comprising of a short-term descending trend-line and 200-period SMA on the 4-hourly chart. • The incoming Brexit headlines continue to dent sentiment surrounding the British Pound, with the cross eroding 50% of Friday's goodish rebound from over ...
FX Street   |   Mon, 22 Oct 2018 12:35:47

Brexit timeline: key dates in UK's divorce from EU

From crucial EU summit to the day of departure and beyond
FT   |   Mon, 22 Oct 2018 12:34:10

PM to face hostile Commons as Brexiteers meet EU negotiator

Leading Brexiteers have denied undermining Theresa May by travelling to meet the EU's chief negotiator to push their Irish border plan.
Sky   |   Mon, 22 Oct 2018 12:21:00

Northern Irish DUP to back rebel Brexit amendment - Telegraph

The Northern Irish party which props up British Prime Minister Theresa May will back an amendment proposed by rebel Brexiteer lawmakers that will effectively make the European Union's backstop proposal illegal, a Telegraph newspaper reporter said.
Reuters   |   Mon, 22 Oct 2018 12:20:02

EUR/GBP Technical Analysis: Now looking to build on the momentum beyond 200-day SMA

• The cross, over the past two weeks or so, has been trending higher along a short-term ascending trend-line and is now looking to build on the momentum further beyond the very important 200-day SMA. • Renewed Brexit uncertainties overshadowed Italian budgetary concerns and seemed to be one of the ...
FX Street   |   Mon, 22 Oct 2018 12:18:27

Most U.K. firms to trigger Brexit safety plans 'by Christmas'

The vast majority of British firms are poised to implement their Brexit contingency plans by Christmas if there isn't greater clarity over the country's exit ...
No Author / Japan Times   |   Mon, 22 Oct 2018 12:07:46

I was against it all along - but now I want a second referendum and I believe that Leave would win

When a politician makes a promise they then break within seconds of victory, there are always consequences. Nick Clegg broke a promise on tuition fees and it broke his party
Tom Peck / The Independent   |   Mon, 22 Oct 2018 11:59:00

Brexit deal is 95% settled, UK's May to tell Parliament

British Prime Minister Theresa May will tell lawmakers Monday the "vast majority" of a Brexit deal has been reached with European Union leaders, as she attempts to prove she's making progress in talks amid criticism from all sides at home.
CNN   |   Mon, 22 Oct 2018 11:49:45

GBP/USD flirting with lows, back closer to 1.30 handle

• Renewed Brexit concerns prompt some fresh selling at the start of a new week. • A goodish pickup in the USD demand exerts some additional downward pressure. The GBP/USD pair extended its intraday retracement slide from 100-day SMA and has now erased all of Friday's goodish rebound from two-week ...
FX Street   |   Mon, 22 Oct 2018 11:39:23

GBP remains volatile on Brexit - Danske Bank

Chief Analyst at Danske Bank Allan von Mehren noted the Sterling remains vulnerable on Brexit developments. Key Quotes "For GBP, risks remain skewed to the downside as Brexit negotiations ended last week without a deal". "We expect EUR/GBP to remain volatile and sensitive to Brexit news in the coming months ...
FX Street   |   Mon, 22 Oct 2018 11:25:10

Staying in a customs union would be dire for British trade. Here's why | Greg Hands

I say this as a remain voter - customs union membership without EU membership would mean ceding control on vital economic policies• Greg Hands is a former trade minister I campaigned for remain in 2016 and served as trade minister two years, and I believe we can still get a ...
Greg Hands / Guardian   |   Mon, 22 Oct 2018 11:07:57