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Nov282018 by adminNo Comments

'No deal' Brexit could lead to economic collapse – BoE

Business

The Bank of England says that a disorderly Brexit could push the UK towards the biggest slump in modern memory. It says that a disorderly Brexit, involving no new trade deals, severe disruption at borders and uncertain economic conditions, could lead to the British economy shrinking by nearly 8% - more than the effect of the financial crisis.In an 88-page document, the bank also claims that a disorderly Brexit could lead to house prices falling by 30%, unemployment nearly doubling and inflation spiralling to 6.5%.Under those circumstances, the interest rate could rocket to 5.5%, it adds. ...

Morata 'happy in London' and would 'probably sign 10-year Chelsea deal'

Sports

Alvaro Morata has denied he dislikes living in London, saying he would "probably" sign a 10-year deal at Chelsea if he could.The striker had told a newspaper in Italy he did not see himself living in London "for very long".Asked about the quotes before Tuesday's Champions League game at Roma, he clarified he meant he will not remain in London when he retires."I'm really happy here and enjoying London with my wife," he said."When I finish my career, I prefer to come back to my country. I prefer the place where I was born, that's normal. When I say London is a stressful city, I'm talking about the traffic and a lot of people. It's an incredible city."Morata, 25, has scored seven goals in 13 games since his club record £60m move from hometown club Real Madrid on a five-year deal in the summer...

Brexit: Theresa May 'to offer 20bn euros transitional deal'

Business

Theresa May is set to propose a transitional deal with the EU of up to two years in a speech on Friday, a cabinet source has told BBC News.The PM is also expected to make an "open and generous" offer, potentially worth 20bn euros over the two years. It would mean the EU does not have to unpick its current budget - so no other EU member loses out from Brexit.No 10 hopes the speech, which has been agreed by the cabinet but could yet be revised, will speed up Brexit talks. Mrs May briefed her top team at a marathon two and a half hour cabinet meeting in Downing Street on what she will say in Florence.A government source said that the intention was to make the potential payments conditional on continued access to the single market and some form of customs union which allowed the UK to strike i...