GBP News 

Letters: Britain can have better transport without wasting more money on HS2

“Just some of the money saved could be used to provide high-speed broadband throughout Britain, which would transform the economy” writes Tom Welsh for telegraph.co.uk. SIR – The Government should cancel the vanity project that is HS2, which is now expected to cost £100 billion.The savings could be used to improve current transport, while investment in the North could be encouraged through tax breaks.SIR – There is now so much doubt about the merits of HS2 that the project should be abandoned immediately before any more money is wasted. Source: telegraph.co.uk

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GBP News 

US prosecutors drag Darktrace into Autonomy fraud case

“The British cyber security company Darktrace has been pulled into the US fraud case against former Autonomy executives Mike Lynch and Sushovan Hussain” writes James Titcomb for telegraph.co.uk. FBI officials have interviewed the company’s chief executive Nicole Eagan as they investigate the links between Darktrace and Invoke Capital, Dr Lynch’s investment fund, according to court documents.US prosecutors are seeking to establish the wealth of Sushovan Hussain, Autonomy’s former finance chief, ahead of sentencing him for fraud charges over Hewlett Packard’s $11.8bn (£9.2bn) purchase of the British software company in 2011. Source:…

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GBP News 

Hammond’s China trip scuppered after Williamson remarks

“Philip Hammond is not going to China this weekend for trade talks, following reports that Beijing scuppered advanced preparations for a meeting after the defence secretary, Gavin Williamson, threatened to deploy a warship in the Pacific” writes Mattha Busby for theguardian.com. It is believed that there is an internal row brewing between the Treasury and the defence department over Williamson’s remarks, which the former chancellor George Osborne described as a throwback to an era of “gunboat diplomacy”. Source: theguardian.com

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GBP News 

Here’s why Conservative MPs now believe Theresa May’s Brexit deal will pass

“And even if it doesn’t, many Conservative MPs believe that Labour MPs could ultimately save the day for May’s deal” writes Thomas Colson for businessinsider.com. Conversely, the greater the chances of a softer Brexit become, the more likely Conservative MPs believe that May’s original deal will pass.Members of this group expect growing numbers of Conservative MPs to ultimately back the prime minister’s deal in the coming weeks. Source: businessinsider.com

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GBP News 

Local Emergency Planners Warned Of No-Deal Food Shortage Risks – Just One Month Before Brexit

“The government has warned local emergency planning groups across England there could a drop in the food available to Brits if the UK crashes out of the EU without a deal, HuffPost UK has learned” writes Jasmin Gray for huffingtonpost.com. Parliamentarians had been asked to re-endorse plans they had been backed two weeks earlier for May to return to Brussels to renegotiate her Brexit deal, replacing the controversial Irish backstop with “alternative arrangements”.Michael Gove’s Department for Environment, Food and Rural Affairs and the Local Government Ministry are understood to have…

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GBP News 

Royal Bank of Scotland warns of Brexit risks

“For the fourth quarter, RBS made a pretax profit of 572 million pounds ($733.5 million) and a net profit of GBP286 million” writes Adam Clark for marketwatch.com. The bank declared a final dividend of 3.5 pence a share, and a special dividend of 7.5 pence a share.The quarterly performance contributed to an annual pretax profit of GBP3.36 billion and a net profit of GBP1.62 billion.Royal Bank of Scotland Group PLC (RBS.LN) said Friday that its 2018 profit rose sharply and it will pay a special dividend but warned that Brexit…

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GBP News 

Euronext confident ‘dual-listed’ trading to continue after Brexit

“The European Commission is responsible for granting equivalence to foreign financial operators, taking advice from the European Securities and Markets Authority (ESMA)” reports businessinsider.com. The European Commission said on Friday it was aware of the issues around dual listed shares and is in contact with ESMA on the matter.FILE PHOTO: The logo of stock market operator Euronext is seen on a building in the financial district of la Defense in Courbevoie Thomson Reuters By Huw Jones LONDON (Reuters) – The trading of dual-listed shares in Britain by European investors is…

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GBP News Reviews 

GBP Daily Review February 15, 2019

GBP Daily Review for February 15, 2019 Brexit News: Sterling (GBP) Eyes Latest House of Commons Clash UK PM May will go to the House of Commons this evening asking for their support in ongoing talks with the EU, but media reports   EUR/GBP advances to session highs around 0.8780 The Sterling has reverted the initial optimism and is now helping EUR/GBP to move higher and test session tops in the 0.8780 region. EUR/GBP looks to   Sterling Weekly Price Outlook: GBP/USD Breakdown Facing Key Support A three-week decline in…

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GBP News 

Goldman Sachs sees no changes Brexit outcome odds after yesterday’s vote

“The firm views that there is a majority in parliament to avoid a no-deal outcome if called upon and says that there is no majority for another referendum, in justifying the above odds” reports forexlive.com. As for yesterday’s development, the firm says that: The firm continues to see the probability of a no-deal Brexit being at 15%, the probability of a no Brexit outcome being at 35%, and a probability of a ratified/delayed Brexit deal being at 50%. Source: forexlive.com

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