Weekly Briefing: Can a Northern Ireland-only backstop provide a way out for the UK and the EU?In this week's briefing, Open Europe's Anthony Egan looks at whether a Northern Ireland-only backstop could be the answer to the Prime Minister's Brexit conundrum. The post Weekly Briefing: Can a Northern Ireland-only backstop provide a way out for the UK and the EU? appeared first on Open Europe.
The 310m/500 km border runs through Carlingford Lock on the East coast to Lough Foyle in the West, crossing fields and farmland, rivers and mountains, forest, lakes, towns and villages. Solving the issue around the border, by finding a solution to the controversial ‘backstop’, and avoiding a ‘No Deal’ Brexit, is seen as being the key to unlocking the 3-year long debate, which, as it stands, culminates on 31 October when the UK is set to leave the European Union.Dan Kitwood | Getty Images News | Getty ImagesThe nature of the Irish border post-Brexit is a major sticking point in negotiations between the British government and the European Union. Both sides agree, whatever the outcome of Brexit, that checks along the Irish border must be avoided. But, with less than 50 days to go before the world's fifth-largest economy is scheduled to leave the bloc, Brexit negotiators have been unable to reach a consensus on the terms. It is a matter of great political and diplomatic sensitivity, w..
Prosus, a spinoff of South African consumer internet group Naspers valued at $100 billion, listed on the Amsterdam Euronext exchange Wednesday.
VIDEO3:2303:23Hong Kong stock exchange makes offer for London stock exchangeSquawk Box EuropeHong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it had made a proposal to the board of London Stock Exchange Group Plc (LSE) to "combine the two companies," in a deal which values the LSE at about £29.6 billion ($36.6 billion). The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. It cautioned, however, that its statement to the market should be considered as an announcement to make a possible offer and is not confirmation of a firm intention to bid. The statement from HKEX said a further announcement will be made "as and when appropriate." HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5% before giving up some of those initial gains. In a subsequent conference call held for media and analysts, HKEX executives described the deal ..
Charles Schwab is laying off 600 workers in response to a slowing economy and pressure from slumping interest rates, the company said. The cuts represent about 3% of the bank's workforce and comes across all sectors amid an effort to streamline expenses as net interest revenue comes under pressure. "This Spring, we initiated a process to review our expense base to ensure we remain well-positioned to serve clients while navigating an increasingly challenging economic environment," the company said in a statement. "As part of that process, we have decided to eliminate approximately 600 positions across the firm. Impacted positions span all staffing grades, as well as organizations and locations across the company." Rates have been falling amid worries about slowing economic activity both globally and in the U.S. A company source said the staff reductions are a direct result of the income pressure from declining rates, which hurt banks by narrowing the margin between loans and deposi..
VIENNA, AUSTRIA - 2018/06/20: OPEC logo is seen at the Organisation of Petroleum Exporting Countries (OPEC) building in Vienna. The 174th OPEC meeting will be held on the 22th June 2018 in Vienna. (Photo by Omar Marques/SOPA Images/LightRocket via Getty Images)SOPA Images | LightRocket | Getty ImagesOPEC downwardly revised its forecast for oil demand growth for the second consecutive month on Wednesday, building the case for another round of production cuts from the Middle East-dominated group of producers. In a closely-watched monthly report, OPEC cut its forecast for global oil demand growth for the remainder of this year to 1.02 million barrels per day (b/d). That's down 80,000 b/d from its August estimate. The group, which consists of some of the world's most powerful oil-producing nations, attributed the downgrade to weaker-than-expected economic data in the first-half of the year and deteriorating growth projections for the remainder of 2019. In 2020, OPEC said it sees ..