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|Beta (3Y monthly)||3.31|
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LONDON/BRUSSELS, Feb 21 (Reuters) - Britain and the European Union on Thursday played down the chances of clinching an immediate Brexit divorce deal but diplomats said they were edging closer to a legal compromise that Prime Minister Theresa May hopes will win over the British parliament. If she fails, May will have to decide whether to delay Brexit or endanger the world's fifth largest economy by leaving without a deal on March 29. May's biggest problem is the so-called Irish backstop, an insurance policy to keep the border open between the British province of Northern Ireland and EU member Ireland if a future trade deal falls short after Brexit.
The risk of Britain crashing out of the European Union on March 29 without a deal to ease Brexit has increased this month, the deputy head of the European Commission said on Thursday. Asked during a conference in Brussels if Britain would leave on the date scheduled, First Vice President Frans Timmermans said his fear in the last couple of weeks had increased that "they might crash out even if they don't want to". Timmermans compared efforts by some British lawmakers to try to prevent Prime Minister Theresa May taking Britain out of the EU without a deal to the apocryphal tale of England's Danish King Canute who ordered the tide to stop but failed.
Flight operations at Dublin airport were briefly suspended on Thursday due to the confirmed sighting of a drone over the airfield, Ireland (Other OTC: IRLD - news) 's largest airport said, the first time such disruption has been caused at an Irish airport. Dublin airport told passengers on its Twitter (Frankfurt: A1W6XZ - news) page that it had suspended operations at 1149 GMT, before resuming 15 minutes later. The flying of drones over Britain's second-busiest airport, London's Gatwick, sparked 36 hours of travel chaos last December while flights at Dubai International Airport were temporarily grounded last week due to suspected drone activity.
Flight operations resumed at Dublin airport following a brief suspension on Thursday due to the confirmed sighting of a drone over the airfield, Ireland's largest airport said. The airport told passengers ...
Britain's FTSE 100 fell on Thursday after downbeat reports from energy supplier Centrica and defence company BAE Systems, while online estate agent Purplebricks lost more than a third of its value after ...
British Prime Minister Theresa May said on Wednesday that progress had been made in solving the impasse over the backstop arrangements for the Irish border that has hindered her Brexit deal but added that time was running out to secure changes. May is in Brussels seeking to change the agreement she struck with the EU last year, after the deal was heavily defeated by British lawmakers. Lawmakers in May's Conservative party have criticised backstop arrangements to avoid a hard border in Ireland (Other OTC: IRLD - news) , saying that under the current deal it could lock in EU rules for Northern Ireland indefinitely.
Sterling weakened on Wednesday after three lawmakers defected from Prime Minister Theresa May's ruling Conservative party in a move that could undermine her Brexit strategy. May has returned to Brussels to try to salvage her Brexit deal which was voted down by Britain's divided parliament last month.
The key to securing a Brexit deal the British government can get through parliament is to define more precisely the "temporary" nature of the Irish backstop, British Foreign Secretary Foreign Secretary Jeremy Hunt said on Wednesday. The backstop, an arrangement to avoid a hard border between European Union member Ireland (Other OTC: IRLD - news) and British-ruled Northern Ireland after Brexit, has become the main point of contention in the proposed Brexit deal.
Three lawmakers from Britain's governing Conservatives quit over the government's "disastrous handling of Brexit" on Wednesday, in a blow to Prime Minister Theresa May's attempts to unite her party around plans to leave the European Union. The lawmakers, who support a second EU referendum and have long said May's Brexit strategy is being led by Conservative eurosceptics, said they would join a new independent group in parliament set up by seven former opposition Labour politicians.
Making changes to the contentious Irish backstop is the only way to secure a Brexit agreement, British Foreign Secretary Jeremy Hunt said before Prime Minister Theresa May heads to Brussels on Wednesday to try to salvage her deal. The key sticking point in Brexit negotiations is the so-called backstop, an insurance policy to prevent the return of extensive checks on the sensitive border between EU member Ireland (Other OTC: IRLD - news) and the British province of Northern Ireland.
The British government can secure parliamentary backing for a Brexit deal if a "simple and important" change can be made to the Irish backstop, UK Foreign Secretary Foreign Secretary Jeremy Hunt ...
The pound retreated from a one-week high on Wednesday as British Prime Minister Theresa May returned to Brussels to try to salvage her Brexit deal. If May cannot persuade European Commission chief Jean-Claude Juncker or the British parliament to modify her deal, Britain could crash out of the world's biggest trading block in 37 days. Sterling surged above $1.3 on Tuesday and enjoyed its biggest daily gain of the year against the dollar, partly on hopes of a breakthrough in the Brexit impasse.
An organisation which sets standards for online advertising has been accused of knowingly breaching data protection laws, according to legal complaints filed with regulators in the UK and Ireland (Other OTC: IRLD - news) . The Interactive Advertising Bureau (IAB) is responsible for the Real-Time Bidding (RTB) standard which underpins the advertising auctions that take place on most websites as soon as individuals visit them. When web users visit a site, as the page is loading it completes an automated auction between advertisers to see who will get to place their advertisements there.
British Finance Minister Philip Hammond said on Tuesday it was clear the European Union will not now consider alternatives to the Irish backstop to help the UK government win support for its Brexit withdrawal deal, but that such options could be valuable in the future. The Malthouse Compromise, championed by Conservative lawmakers from the party's pro- and anti-EU wings, seeks to use technology to replace the backstop, an insurance policy designed to stop a return to a hard border between EU-member Ireland (Other OTC: IRLD - news) and Northern Ireland, which is part of the UK.
Britain will pursue alternative arrangements to the Irish backstop - the most contentious part of the Brexit withdrawal deal - in its future trading relations with the European Union, Brexit minister Stephen Barclay said on Tuesday. The "Malthouse Compromise", which has been championed by Conservative lawmakers from the party's pro and anti-EU wings, seeks to use technology to replace the Irish backstop, an insurance policy designed to stop a return to a hard border between EU-member Ireland (Other OTC: IRLD - news) and Northern Ireland, part of the UK.
Ireland (Other OTC: IRLD - news) 's Kerry Group (Other OTC: KRYAF - news) warned on Tuesday of "grave consequences" for Irish food producers if Britain leaves the European Union without a replacement trade deal. Kerry, which earned just under a quarter of its 2018 revenue of 6.6 billion euro ($7.5 billion) from Britain, said it moved to reduce its exposure to sterling and had stockpiled several weeks supply of raw materials in case of a "no-deal" Brexit. "If there was to be a crash-out of the European Union, one could expect a significant fall-off in the demand, at least in the short-term in the UK market" Kerry's chief executive Edmond Scanlon told journalists in Dublin.
Ireland's Kerry Group has seen the British food market weaken and expects demand to drop further if Britain leaves the European Union without a deal on future trade relations, its chief executive said ...
Prime Minister Theresa May will meet top EU official Jean-Claude Juncker in Brussels on Wednesday, pressing on with efforts to find a way to get their Brexit deal through Britain's parliament. The main sticking point is the so-called backstop, an insurance policy to prevent the return of extensive checks on the sensitive border between EU member Ireland (Other OTC: IRLD - news) and the British province of Northern Ireland.
Attorney General Geoffrey Cox still intends to make a speech on what changes which need to be made to Britain's EU exit deal to win the approval of parliament, Solicitor General Robert Buckland said on Tuesday. Asked by a lawmaker whether this had been cancelled, Buckland said: "His plan is to make a speech about the issues".
Ireland (Other OTC: IRLD - news) 's unemployment rate was revised up to 5.7 percent for both January and December from an initial estimate of 5.3 percent following the release of quarterly jobs figures, the country's statistics agency said on Tuesday. Monthly unemployment rates have been subject to these kinds of revisions in recent quarters and Tuesday's change means the jobless rate has remained steady at 5.7 percent for the last six months, having stood at 5.9 percent in January 2018. While the fall in the number of unemployed has slowed, employment continues to grow strongly with the number of people in work in the three months to December up 2.3 percent year-on-year, compared with a 3 percent increase in the previous quarter, the data showed.
Brexit Secretary Stephen Barclay said on Monday he would hold more talks with EU chief negotiator Michel Barnier at mid-week after British Attorney General Geoffrey Cox sets out proposed amendments to the tricky Irish border backstop. "We had a positive meeting," Barclay told reporters after he and Cox met with Barnier in Brussels on Monday. Barclay said the two sides discussed the proposed Malthouse Compromise under which eurosceptic and pro-EU factions in British Prime Minister Theresa May's divided Conservative party agreed London should seek changes to the so-called Irish backstop.
Short-dated Italian government bonds outperformed on Monday, their yields falling the most among euro zone bonds to lead a rally in the periphery, on expectations of more monetary stimulus from the European Central Bank. Italian two- and five-year government bond yields fell as much as eight basis points after comments by ECB policymakers Francois Villeroy de Galhau, Olli Rehn and Benoit Coeure raised expectations of new cheap loans for banks from the central bank. Coeure's comments on Friday saw euro zone banking shares jump more than 3 percent, the euro fall and Italy's bond yields tumble.
Britain could accept legally-binding assurances on the disputed Irish border backstop that would not require reopening of the EU-UK Brexit deal, diplomatic sources said, signalling a possible shift from Prime Minister Theresa May's official line. EU and British diplomatic sources told Reuters after talks earlier this week between Brexit Secretary Stephen Barclay and the bloc's chief negotiator Michel Barnier, however, that London was still seeking changes to the backstop that the EU has already ruled out.
Any British request to extend Brexit talks would likely be met with a generous response from the European Union provided it came with a plan, and a natural limit to such a request would be the end of June, Ireland (Other OTC: IRLD - news) 's foreign minister said on Friday. "If there is a request for an extension to Article 50 coming from London and there is a plan to go with that in terms of a strategy to try and conclude these discussions, I think there would be quite a generous response to that," Simon Coveney told a Brexit event in Dublin.