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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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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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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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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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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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U.K. Parliament rejects Prime Minister May’s Brexit strategy

“The British Parliament on Thursday rejected U.K. Prime Minister Theresa May’s Brexit strategy, adding to the government’s tally of lost parliamentary votes, as expected” writes Markets Reporter for marketwatch.com. May’s initial deal was rejected by Parliament in January, though lawmakers also voted in favor of avoiding a hard Brexit.Prime Minister May had aimed for a re-endorsement of her plan to secure changes to the Brexit deal she agreed with the European Union late last year, which would allow the U.K. to avoid a hard, no-deal Brexit.As of now, no deal…

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ALSO: Put Aside ‘Ideological Purity’ And Back Theresa May On Brexit, Liam Fox Tells Tory Rebels

“Brexiteer Tories are threatening to rebel in a key vote this evening over a motion they claim would commit Theresa May taking a no-deal Brexit off the table” writes Ned Simons for huffingtonpost.com. But members of the backbench European Research Group (ERG) say it effectively endorses another amendment approved by MPs the same day, which rules out no-deal. In a series of tweets in response to Fox’s interview, he said: “Ok: let’s send the right signals. (But is the EU really hanging on a non-binding motion at 5pm on a…

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UK growth won’t hit the Bank of England’s target and it could cut rates this year, economist says

“I think there’s a case for a (rate) cut later this year were things to really seriously deteriorate in the face of a bad Brexit deal … (a) bad Brexit deal basically being any deal that took us out of the EU, in my personal view,” Carnell added” writes unknown author for cnbc.com. The United Kingdom’s growth rate will likely fall below the central bank’s forecast this year, according to one economist, who believes that interest rates could also be cut if Brexit talks continue to head south.As recently as…

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Theresa May set for another Commons defeat as Brexiteers threaten to reject her Brexit plans

“This afternoon’s vote is non-binding, unlike the House of Commons defeat on her Brexit deal last month, which was the biggest in modern British history” writes Thomas Colson for businessinsider.com. However, it would weaken the hand of the prime minister who is trying to demonstrate a united domestic front to Brussels in an attempt to renegotiate parts of her deal. Source: businessinsider.com

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