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Tag: Brexit

Pound at highest level since Brexit vote

Pound at highest level since Brexit vote

Business
The pound has climbed to its highest level against the US dollar since the Brexit vote.Sterling was up by more than a cent to reach nearly $ 1.37 in Friday trading. It was little changed against the euro, hovering below €1.13.It has not been as high versus the dollar since the result of the EU referendum in June 2016 sent the pound plunging from $ 1.50.That result saw sterling sliding to less than $ 1.20 in ensuing months before steadily gaining back ground over 2017.The latest rise on Friday was partly attributed to a report that Spain and the Netherlands were open to a softer Brexit deal for Britain.Bloomberg reported that the two countries' foreign ministers had agreed to work together for a divorce deal that would maintain close ties between the EU and Britain.That did little to help t
Pound and business react to Brexit deal

Pound and business react to Brexit deal

Business
The Brexit-battered pound has failed to benefit from the UK's deal with the EU to secure trade talks.Sterling fell half a cent against the greenback as the breakthrough was confirmed in Brussels, sinking from above $ 1.35 to $ 1.3465.Analysts said a strengthening of the US currency later, with the pound dropping to $ 1.34 on Friday evening, was driven by a strong set of US employment figures which dominated sentiment.The pound also fell back against the euro after hitting six-month highs when European Commission President Jean-Claude Juncker declared "sufficient progress" had been made in the first phase of Brexit talks to allow negotiations on future trade to begin later this month.:: LIVE: PM secures Brexit deal with £40bn feeVideo:May: I look forward to 'next phase of talks'It was the d
UK and EU fail to strike Brexit talks deal

UK and EU fail to strike Brexit talks deal

World
The UK and EU have failed to reach an agreement to move to the next stage of Brexit talks, Theresa May has said.The prime minister said talks would reconvene "before the end of the week" and she was "confident we will conclude this positively".The talks are understood to have broken down after the Democratic Unionist Party refused to accept concessions on the Irish border issue.Downing Street said that was not the only outstanding problem.Irish Prime Minister Leo Varadkar said a deal had been done, but the UK appeared to change its mind over the Irish border question after pressure from the DUP."I am surprised and disappointed that the British government now appears not to be in a position to conclude what was agreed earlier today," he told a press conference in Dublin.Northern Ireland's D...
Brexit supporters list demands for 'divorce bill' talks

Brexit supporters list demands for 'divorce bill' talks

Business
Leading Brexit supporters have urged the prime minister not to settle the UK's "divorce bill" unless the EU agrees to a series of conditions.The Leave Means Leave group, which includes ex-cabinet ministers, says Brussels must end the European Court of Justice's jurisdiction over the UK.It also wants freedom of movement to the UK for EU citizens to stop when Britain leaves the bloc in March 2019.Theresa May is to hold more meetings next week on the terms of the UK exit.The UK is hoping to move on to talking about trade but the EU will only do this when it deems "sufficient progress" has been made on three areas - the so-called divorce bill, the rights of EU citizens in the UK after Brexit and the Irish border.The prime minister has said discussions were continuing over the amount the UK wil...
Brexit sending UK space firms out of orbit

Brexit sending UK space firms out of orbit

Technology
UK companies are already starting to lose out on European space contracts as a result of Brexit, MPs have heard.Simon Henley, president-elect of the Royal Aeronautical Society - which represents professionals in the industry - said firms were missing out on bids on the Galileo satellite programme because it is funded by the European Union.Separately, the UK head of aviation giant Airbus - which builds wings for its aeroplanes in north Wales - told the Commons Business, Energy and Industrial Strategy (BEIS) committee that other countries were now "knocking at the door" for that business.MPs were taking evidence as part of an inquiry into the impact of Brexit on aerospace.It came as elsewhere, the Institute of Directors (IoD) added to voices from business warning that a transitional arrangem...