Politics
Tesco warns October Brexit much more problematic than March
Tesco, Britain's biggest retailer, has warned that getting ready for a possible disorderly no-deal Brexit in October would be far more problematic than preparations it made for the original planned departure date in March. Britain had been due to leave the European Union on March 29, but Prime Minister Theresa May was unable to get her divorce deal ratified by parliament and the date is now set for Oct. 31. That is not good timing for Tesco as it falls...
Trump – Nothing wrong with accepting dirt from foreign governments on opponents
President Donald Trump said on Wednesday he would see nothing wrong in accepting damaging information on a U.S. political opponent if it were offered to his re-election campaign by a foreign government. Asked in an interview with ABC News if he would accept the information or alert the FBI, Trump said: "I think maybe you do both. I think you might want to listen, there's nothing wrong with listening." "If somebody called from a country, Norway, 'we have information on...
Brexiteer Johnson far ahead in first round of contest to replace PM
Boris Johnson, who has pledged to deliver Brexit on October 31, surged closer to power on Thursday when he won by far the most support from Conservative Party lawmakers in the first round of the contest to replace Prime Minister Theresa May. Three years since voting 52%-48% to leave the European Union, the United Kingdom is heading towards a possible crisis over Brexit as most of the candidates vying to succeed May are prepared to leave on Oct. 31 without...
France’s Le Pen unveils new far-right European Parliament group
France's Marine Le Pen unveiled a new far-right group in the European Parliament on Thursday, uniting eurosceptics from across the continent who aim to devolve power from Brussels back to capitals. Calling itself the Identity and Democracy (ID) group, the new alliance brings together Le Pen's National Rally, Italian Deputy Prime Minister Matteo Salvini's League party and Germany's Alternative for Germany (AfD) plus nationalists from Austria, Finland and Denmark, among others. "We have changed the political chessboard of the European...
Pro-Europeans to hold rally against Brexit in London on July 20
Pro-Europeans said on Thursday they would hold a "march for change" rally against Brexit on July 20 in London. The governing Conservatives are in the process of choosing a successor to Prime Minister Theresa May, with the result of the contest expected the week of July 22. "As a new prime minister prepares to take office, grassroots organisations will gather in central London for one of the biggest pro-European rallies that the UK has seen," the march organisers said. "The...
Packager DS Smith says stocking up on spare parts ahead of Brexit
Packaging products maker DS Smith Plc said on Thursday that it had made plans for contingency stocking of spare parts as it readies for Britain's planned exit from the European Union, but expected disruption to its operations to be "relatively contained". The company, which makes corrugated cardboard, recycled paper and plastic packaging, posted a 31% rise in full-year adjusted pretax profit, but said box volumes growth slowed due to previously flagged weakness in certain export markets during the second half...
Race to replace May to narrow as Conservative MPs vote in first round
The contest to replace British Prime Minister Theresa May is due to narrow today when Conservative Party lawmakers vote to knock out at least one of 10 candidates in the first ballot, though Boris Johnson is far ahead of rivals. The United Kingdom could be heading towards a constitutional crisis over Brexit as many of the candidates vying to succeed May are prepared to leave the European Union on Oct. 31 without a deal but parliament has indicated it will...
Banking scandal – Watchdog defends not sanctioning RBS
Britain's financial watchdog has defended its controversial decision not to sanction lender RBS or its former executives for past mistreatment of small business customers. The Financial Conduct Authority said it was sticking by its decision not to apply penalties for actions of RBS's former turnaround unit, the Global Restructuring Group. "Our investigation has found that GRG clearly fell short of the high standards its clients expected but it was largely unregulated and so our powers to take action in such...
Volatile U.S. politics gives euro’s global use a boost – ECB
The global use of the euro currency surged from record lows last year, mostly on a flight from the dollar due to the volatility of American politics and concerns about rising U.S. interest rates, the European Central Bank said on Thursday. Demand for the euro, the world's second most widely used currency after the dollar, fell to historic lows over the past decade. Its rebound suggests both concerns about U.S. politics and growing confidence about the future of the euro...