Brexit

Goldman Sachs Reassures Staff Over Brexit In Voicemail

... staff over Brexit in voicemail. 19 Hours Ago. 16 Hours Ago | 00:35. Goldman Sachs sought to reassure London-based staff over potential disruption to its business as Britain prepares to leave the European Union, in a voicemail to staff sent by the Wall Street firm's Europe CEO. British Prime Minister Theresa May will trigger formal EU divorce proceedings on Wednesday, launching two years of negotiations that will shape the future of Britain and Europe as well as London's place as a global financial center. The move will also mark the point when investment banks, whose priority will be to ensure they can continue servicing their clients across Europe after March 29, 2019, begin taking concrete steps to prepare for Britain being outside the bloc. Those steps could involve moving London-based staff to outposts on the continent or paying them off and hiring ...

Brexit, Stage One

... and end the filibuster rule. Susan Collins appears to be the only one hesitating about the rule change; three Republicans would need to defect for it to fail. [ CNN / Ted Barrett and Ashley Killough ]. The philosophical implications of getting totally owned on Twitter. [ NYT / Amanda Hess ]. New Jersey, Ohio, and Alabama are adopting Finland's "baby box" system, in which new mothers receive infant clothing, blankets, and a box that doubles as a crib. [ NPR / Maureen Pao ]. On the radical communist, free love–promoting Oneida sect, cults, and the threat they pose to the underpinnings of liberal society. [ Catapult / Ellen Wayland-Smith ]. How Escape From New York explains the way Donald Trump thinks about cities. [ MTV / Ezekiel Kweku ]. How Person of Interest anticipated the Snowden scandal more than a year ahead of time, and became the most essential cultural depiction of debates over ...

What A Once-prosperous Seaside Town Thinks About The Brexit Divorce

... Andy Mitchell at Tuesday's tea dance. Mo Abbas / NBC News. Immigration and regulation. Margate has been at the forefront of the EU debate for some time, with President Donald Trump's "Mr Brexit" Nigel Farage narrowly missing out winning a local seat in the U. K. Parliament in 2015. It was his seventh failed attempt to be elected. However, the region's government is ruled by Farage's UK Independence Party. A key driver for many who voted to leave was immigration. Under EU rules the citizens of other member states have the right to live and work anywhere in the bloc. This arrangement has been a boon for U. K. businesses seeking highly skilled workers or cheaper labor. But it has also led to complaints from many Britons about competition for jobs, housing, doctor appointments and school places. In towns such as ...

Brexit Sovereignty Plan Set Out In Great Repeal Bill

... that the government did not want "divorce" from the EU but a "transition to a new relationship". Mr Tusk, who told the UK "we already miss you" as he received Mrs May's letter, is expected to set out the EU's draft negotiating principles in the coming days. In a brief statement on Wednesday, he said it was not "a happy day" for him or for the EU and promised to begin arrangements for the UK's "orderly withdrawal". The EU's formal negotiating position will be agreed only at a summit of the remaining 27 member states at the end of April, meaning face-to-face discussions are unlikely until May or early June. Image copyright Reuters. Image caption Pro-Brexit campaigners celebrated after Article 50 was invoked. Early issues are likely to include the rights of expats in the UK and the rest of the EU, the size of any severance payment required of the UK and whether talks on a new trade deal can be handled at the same time as the Article 50 negotiations. In a BBC interview after her Commons ...

Today’s Brexit Barometer

... vote. Show Index. The barometer is powered by four data feeds curated by Bloomberg Intelligence. All except inflation are composed of sub-indexes that are updated in real time. The higher above zero the index is, the better off Britons are economically; the farther below zero, the worse off they are. Related indicators. Other metrics that measure the well-being of the U. K. economy as Brexit approaches, and how much they’ve changed, compared to a year ago. Bloomberg British Pound Index. This trade-weighted index tracks the strength or weakness of sterling, compared to a basket of major world currencies. Declines in the level mean less purchasing power for Britons traveling abroad but a boost for British exporters, whose goods are thereby cheaper for foreign buyers. U. K. Housing Prices. This monthly snapshot from the Nationwide Building Society shows how much residential property prices—already among the most expensive in the world, especially in London—have risen or fallen in the previous year. (Change ...

Brexit Formally Begins

... Project. ( @d_g_alexander ). Ryan Heath , senior correspondent for POLITICO Europe. ( @Politico Ryan ). Rory Broomfield , director of the Freedom Association, a center-right think tank in the United Kingdom. Director of the Better Off Out Campaign. Author of “ Membership of the EU: There Are Alternatives.” ( @rorybroomfield ). From Tom’s Reading List. Boston Globe: The EU-UK divorce begins — "This week, the campaign slogans of the Leave campaign will give way to the realities of negotiation in Brussels, just as they already have for President Trump on Pennsylvania Avenue. After all, divorce can be an expensive, as well as a messy and painful, business.". POLITICO: British love affair with Belgium kicks off  - "Thousands of Britons living in Brussels and its suburbs will potentially be plunged into an uncertain future by Brexit. For many of them, who have raked in special tax benefits for diplomats and EU civil servants, sometimes for decades, the race is now on to obtain Belgian citizenship.". The Wall Street Journal: U. K. Government Rejects Move for Another Scottish Independence Vote — "A vote in Scotland’s parliament Tuesday in ...

Here Are The Key Players In The Brexit Negotiations As Theresa May Triggers Article 50

... migrants from Europe and beyond. But there are concerns she will not be able to satisfy the Brexiteers in her cabinet and hold the government together until the next general election. David Davis, UK secretary of State to Exit the European Union. Jack Taylor | Getty Images. His task is to negotiate with the EU on behalf of the U. K. government. This includes listening to Scotland, Wales and the Northern Ireland. He has admitted that the U. K. is preparing contingency plans in case it doesn't reach an agreement with the EU within the two-year time limit set on the talks. Phillip Hammond, UK Finance minister. Carl Court/Getty Images. Though the U. K.'s Finance minister will not be at the negotiating table, Hammond will be key to advise on the financial impact that certain negotiating points will have on the British economy. Perhaps the biggest issue is the future of the City of London. Liam Fox, UK secretary of State for International Trade. ...

How Brexit Is Changing The Lives Of Eight Researchers

... time for academics to feel powerless. Dominic Shellard, vice-chancellor, De Montfort University, Leicester, UK. Andy Gotts. The morning after the UK voted to leave the EU, Shellard called a meeting at De Montfort University. A thousand people turned up at just a few hours’ notice. “There were lots of very distressed people,” he says. “There were staff who were in tears. One Polish student asked me whether I could write him a letter. I said, ‘What do you need a letter for?’. He said ‘I’m going home to Poland this weekend and I need a letter to give to the border guards at Heathrow to let me back into the country.’”. Like many university vice-chancellors in the United Kingdom, Shellard does not want the nation to leave the EU. As in other UK universities, significant percentages of his staff, his students and his research funding come from the EU. In the wake of the vote, the university ...

The White House Just Claimed Donald Trump Had A Major Role In Brexit

... to stand up for EU migrants during Brexit. Earlier this year, Mr Trump told The Times that he understood why voters had opted to leave the EU. “You look at the European Union and it’s Germany. Basically a vehicle for Germany. That’s why I thought the UK was so smart in getting out,” he said. During the interview, Mr Trump underscored his fondness for the UK and said other countries could follow its lead and leave the EU. “I believe others will leave. I do think keeping it together is not going to be as easy as a lot of people think,” said Mr Trump. Asked whether he would press ahead with a trade deal with the UK that would come into force after Brexit, Mr Trump said: “Absolutely, very quickly. I’m a big fan of the UK. We’re going to work very hard to get it done quickly and done properly. Good for both sides.". Yet the New York tycoon was not ...

Despite Its Brexit Victory, The Hate-addicted Right Rages On

... Republican senators aiming to take away their voters’ rights to health care have been facing impassioned town-hall meetings. There is exhilarating satire on television. But over here, the 48 per cent of people who feared a loveless future of cringing isolation, austerity and social backwardness have been largely content to take defeat on the chin, as though cowed by the fact that so many of the poorest among us don’t agree. In Britain, the silence is eerie. We know from experience that it takes time for artists and film-makers to respond to sudden changes of temperature. Margaret Thatcher was first elected in 1979, but it wasn’t until 1982 that we were enlightened by Alan Bleasdale’s Boys from the Blackstuff; My Beautiful Laundrette didn’t ­arrive until 1985; and it was 1987 before Caryl Churchill gave us Serious Money – a full eight years after Thatcher’s election. All three works may enjoy an enduring power and authority denied to the collected speeches of Norman Tebbit. They define the era. But ...

Oil Up After Data, Dollar Gains As Brexit Materializes

... index. DXY gained 0.37 percent with the euro down 0.55 percent to $1.0752. Sterling hit a one-week low of 1.2378 GBP= earlier, and was last trading at $1.2407, down 0.33 percent. "Sterling will be incredibly sensitive to (Brexit) negotiations and will offer a clear gauge of how things are panning out. We could see it move lower still if negotiations take a sour turn - $1.10 is feasible," said Neil Wilson, senior markets analyst at ETX Capital. Benchmark U. S. Treasury yields fell. The 10-year U. S. Treasury yield hit a session high at 2.427 percent, higher than Tuesday's. Benchmark 10-year notes US 10 YT=RR last rose 6/32 in price to yield 2.3891 percent. Oil prices rose after U. S. gasoline stockpiles dropped sharply last week, while crude inventories grew less than anticipated. U. S. crude CLc 1 last rose 1.9 percent to $49.28 a barrel and Brent LCOc 1 traded at $52.23, up 1.8 percent on the day. Spot gold XAU= rose 0.0 percent to ...

Markets Could See Heartbreak If Brexit Is Hard To Do

... S. Wednesday is the big day for Brexit, with British Prime Minister Theresa May triggering the official separation of the U. K. from the European Union. For the most part, traders believe the markets have long been prepared for the start of the process, which comes with May triggering Article 50, the legal framework starting the negotiations that will unwind the decades-long relationship. But regardless, they will be watching the U. K. markets and the pound and euro closer than usual. "They declare their divorce," said Art Cashin, director of floor operations at UBS. "It's something you want to be alert to.". Brexit could be anticlimactic but it will still get attention well into the U. S. trading day. "I'll be watching Brexit but I don't think it's going to have much effect. I think the negotiations will be going on for two years," ...