Britain says no European Union exit deal unless future relationship taken into account

LONDON  - Britain said on Friday that no deal could be struck on exiting the European Union unless the future relationship with the bloc was taken into account.

Prime Minister Theresa May wants to negotiate the divorce and the future trading relationship with the EU before Britain leaves in March 2019, followed by what she calls a phased implementation process to

Global Economy Weekahead: So, is it actually the euro zone that's strong and stable?

By Jonathan Cable

LONDON - The deluge of cash poured into the euro zone economy in recent years by the European Central Bank appears to have finally resulted in solid - and more importantly, steady - economic growth, along with rising inflationary pressures.

To borrow a phrase from British Prime Minister Theresa May's ill-fated election campaign, it'

'Create goodwill', business leaders urge May in Brexit talks

By Andrew MacAskill and Anjuli Davies

LONDON  - Business leaders are calling on Prime Minister Theresa May to unilaterally guarantee the rights of millions of EU nationals living in Britain and to honour its financial commitments as it prepares to start talks on its exit from the European Union.

After May suffered a shock loss of her parliamentary major

Election means 'new game' of Brexit negotiations for the City

LONDON - Large banks are planning to step up their lobbying of the British government as they sense an opportunity to change its priorities in the upcoming Brexit negotiations, John McFarlane, who chairs the UK's main financial lobby group, told Reuters.

Prime Minister Theresa May's shock loss of her parliamentary majority in last week's election increases

Analysis: Hard or soft Brexit aside, pound nervous of economic slowdown

By Patrick Graham

LONDON - Last week's shocking British election result and the period of political uncertainty that looks set to follow may have come at the worst of times for the country's economy and the value of the pound sterling.

Until 10 p.m. London time last Thursday, Prime Minister Theresa May's decision to call the snap poll did no

Global Economy Weekahead: French reform, British uproar and a Fed hike

By Padraic Halpin and Jeremy Gaunt

DUBLIN/LONDON - When British Prime Minister Theresa May called a snap election in April, then-French presidential candidate Emmanuel Macron was the one supposedly set to struggle to govern effectively with a parliamentary majority.

Seven weeks later, May has lost her majority and a novice party created by Macron looks

Sterling hammered by poll showing risk of hung parliament

By Hideyuki Sano

TOKYO - The British pound came under pressure on Wednesday after a new poll found that British Prime Minister Theresa May's Conservative Party risks falling short of an overall majority in next month's national election.

The pound fell to $1.2791 , near a one-month low of $1.2775 touched on Friday. The pound also slipped to 0.87

Global Markets - Italian bank worries leak into second week

By Patrick Graham and Danilo Masoni

LONDON  - Concerns over Italy's banks and Britain's national election campaign dominated holiday-thinned European financial markets on Monday, prodding stock markets lower after Asian share indices fell back off 2-year highs.

Sterling, hammered by a slump for Prime Minister Theresa May's Conservatives in o

Manifestos indicate future tense for Great Britain

The ruling Conservatives, opposition Labour and Liberal Democrats have unveiled their manifestos for the 2017 general elections. Whoever comes to power on June 8 will follow the manifesto commitments and they are the blueprints for the creation of post-Brexit Britain. The contents in the manifestos indicate the life wont be same for an average Britain after the elections.


The

21/05/2017 10:17:38 AM | Posted in Special Event Reports read full news
UK PM May's pitch to voters: market intervention and stiffer rules for business

By Elizabeth Piper and William James

HALIFAX,England   Prime Minister Theresa May rejected "untrammelled free markets" and promised to rein in corporate excesses in pre-election pledges on Thursday designed to woo not only her core supporters but also those of her left-wing rivals.

With surveys suggesting she is on course

FACTBOX - What are British PM May's plans for corporate reform and Brexit?

By Kylie MacLellan and Andy Bruce

LONDON  Setting out her pitch to voters, British Prime Minister said on Thursday she will press on with her approach to Brexit, cut immigration and introduce corporate reform.

Marking a major break with previous Conservative Party orthodoxy, the election document said the party did not believe in "untrammeled marke

British PM May vows energy price cap if re-elected

By Kate Holton and Karolin Schaps

LONDON    British Prime Minister Theresa May pledged on Tuesday to cap household energy prices if she is re-elected on June 8, sending stocks tumbling with the biggest market intervention since the sector was privatised almost 30 years ago.

Energy bills have doubled in Britain over the past decade to about 1,2

UK says PM May to lead Brexit talks, approaching them with "goodwill"

LONDON  - Prime Minister Theresa May will lead Britain's Brexit talks and is approaching the negotiations with goodwill, her spokesman said on Tuesday, responding to criticism that her government underestimated the complexity of the process.

"We are clear that we will make a success of Brexit and we will secure a deal that works in the best interest of B

UK PM May says she will not raise Value Added Tax

LONDON - British Prime Minister Theresa May said on Sunday she would not increase Value Added Tax if her Conservative Party was elected on June 8 and that she would not raise the overall levels of tax on Britons.

"We won't be increasing VAT," she told ITV's Peston on Sunday show.

(Reporting by William James, editing by Elizabeth Piper)

Japanese PM Abe asks UK PM May for 'smooth Brexit' for business

LONDON - Japanese leader Shinzo Abe asked Prime Minister Theresa May on Friday to ensure a smooth Brexit to allow Japanese companies to continue to operate as the United Kingdom exits the European Union.

The leader of the world's third largest economy praised PM May for what he said were attempts to secure Brexit transparency and a transitional period to ease the

'Have a little swagger', CEOs tell PM May in bid to make Brexit pay

LONDON - Global chief executives and investors had some sharp advice for Prime Minister Theresa May on Wednesday: Make Brexit a success by looking beyond the European Union and adopting a little swagger about the benefits of the world's fifth largest economy.

While repeatedly calling for a close relationship with the EU after Britain's divorce, May has also pi

Sterling gets market's vote, stocks cold-shouldered

By Wayne Cole

SYDNEY - Sterling stole centre stage in Asia on Wednesday amid speculation Britain's surprise decision to call a snap election could ultimately deliver a more market-friendly outcome in its divorce from the European Union.

Safe-haven bonds also held onto most of their recent gains ahead of presidential elections in France and on escalating

Analysis - May’s election gamble offers longer-term turnaround for sterling, but at FTSE’s expense

By Patrick Graham

LONDON - Running contrary to the norm on shock election announcements, the pound's steep gains on Tuesday point to hope among investors that the June poll may stabilise domestic UK politics as the country faces its biggest challenges in half a century.

Buffeted initially by speculation over the likely content of Theresa May's surpri

19/04/2017 10:03:24 AM | Posted in Special Event Expert Views read full news
UK consumer spending grows at slowest rate in three years - Visa

LONDON  - British consumer spending increased at the slowest annual pace in more than three years in the first three months of 2017, in a further sign that one of the economy's main engines is losing steam as Brexit preparations begin, a survey showed on Monday.

Payment card company Visa said real-terms spending increased 0.9 percent year-on-year in the three

Sterling set for first fall in four weeks, eyes on output data

By John Geddie

LONDON - Sterling was set for its first week of falls in four on Friday as investors awaited data crucial to Britain's growth outlook as it begins the process of leaving the European Union.

In the first full week of trading since UK Prime Minister Theresa May formally began Britain's divorce from the EU, the pound has slipped 0.7 perce

India, Britain talk up post-Brexit trade prospects

By Manoj Kumar and Douglas Busvine

NEW DELHI - India and Britain on Tuesday talked up their prospects of developing a new trading relationship, as their finance ministers met to prepare for the United Kingdom's exit from the European Union.

British finance minister Philip Hammond flew in to New Delhi for talks with Indian counterpart Arun Jaitley, d

British PM May fires starting gun on Brexit

By Guy Faulconbridge and Elizabeth Piper

LONDON - Prime Minister Theresa May filed formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.

Nine months after Britons voted to leave, May notified EU Council President Donald Tusk in

'Indo-British official group discussing free trade agreement'

With Britain set to launch the formal process of its exit from the EU on Wednesday, a prominent British entrepreneur has said that a joint working group of officials from both countries is working on an India-UK free trade agreement to be signed once it exits the EU in two years time.

"One of the very important steps forward of Theresa May's (India) visit last November was th

Analysis - Changes: Five ways Brexit will transform the EU

By Alastair Macdonald

BRUSSELS  - Leaving the European Union, to be triggered by Prime Minister Theresa May on Wednesday, may transform Britain but it will also change the EU. Here's how:

EU BUDGET: WHERE'S THE MONEY GONE?

The Union's budget accounts for only 2 percent of public spending in the bloc. But in the eas

Impact on banks from Britain's vote to leave the EU

Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, endangering London's status as a major financial centre.

Leading financial firms warned for months before last June's Brexit referendum that they would have to move some jobs if the "Leave" side won