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No-deal Brexit ‘threatens’ UK science industry, says Wellcome Trust

No-deal Brexit ‘threatens’ UK science industry, says Wellcome Trust

Science
The head of the UK's biggest charitable funder of scientific research has written to the new Prime Minister Boris Johnson backing his vision of a thriving science sector, but warning that leaving the EU without a deal is a "threat to that". In a letter, seen by the BBC, chairwoman of the Wellcome Trust Lady Eliza Manningham-Buller, asks the new PM to up investment spending in science to German levels, and to ensure that immigration policy was "more welcoming" to top scientists.The Wellcome Trust is responsible for £1bn of funding a year, and should be a key part of Boris Johnson's vision of the UK as a "science superpower".Its chairwoman told the BBC that while she agrees that there is a great prize to be grasped she is anxious
Lorries face huge queues in a no-deal Brexit

Lorries face huge queues in a no-deal Brexit

Business
By Adam Parsons, business correspondent The government is drawing up plans for dealing with a massive increase in the number of lorries needing official paperwork in the wake of a potential no-deal Brexit.Industry insiders have told Sky News they fear that document checks could lead to huge queues on the motorways leading to Channel ports in Kent - undermining work to speed lorries through from Dover to Calais. At the moment, only a small fraction of hauliers need a permit - known as a transit document - to take goods between the UK and mainland Europe.However, if the UK was to leave the EU without a deal, that figure could go up 10 times - perhaps more, with thousands of drivers needing to obtain permits. Image: An...
Carney says risk of no-deal Brexit now ‘alarmingly high’

Carney says risk of no-deal Brexit now ‘alarmingly high’

Business
By James Sillars, business reporter Mark Carney has told Sky News the risk of a no-deal Brexit is now "alarmingly high", branding suggestions such a scenario could be managed as "absolute nonsense".In an exclusive interview with Sky News, the governor of the Bank of England defended its gloomy forecasts for what a cliff-edge Brexit would mean and denied they amounted to scaremongering. He said the Bank's thinking on the issue - which included predictions of an economic shock - had been demanded by a committee of MPs and involved the work of hundreds of staff, including its economists.He told Sky's Samantha Washington that a shock continued to be his view, despite "real progress" in preparations by businesses, government agencies and the Bank itself.Comme...
British pound surges the most in nearly two years after UK lawmakers vote to reject a no-deal Brexit

British pound surges the most in nearly two years after UK lawmakers vote to reject a no-deal Brexit

Finance
Sterling rose on Wednesday after U.K. lawmakers rejected leaving the European Union without a withdrawal agreement. The pound was up 2 percent against the dollar at $ 1.3339 as investors become more optimistic that a hard Brexit would be ruled out. That's the biggest move since April 2017. "Our base view — and the currency is telling you this — is we will get some form of resolution," said KKR's global head of macro and asset allocation Henry McVey on CNBC's Closing Bell. "Clearly, there's been slowing related to Brexit. The way we're approaching it is this...