GBP News 

Brexit is ‘stopping UK from resolving deep economic problems’

“Brexit is stopping Britain from addressing deep problems with its economy, a former Bank of England governor has warned” writes Andy Gregory for independent.co.uk. The UK economy unexpectedly shrank 0.2 per cent in this year’s second financial quarter – its first contraction since 2012.Mr King, who governed the UK’s central bank for a decade until 2013, asserted the global economy would likely not suffer another financial crisis within the next 12 months. Source: independent.co.uk

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GBP News 

Britain and EU reach Brexit deal, but clouds are already on the horizon

“Britain and the European Union finally reached a new tentative Brexit deal on Thursday, hoping to escape the acrimony, divisions and frustration of their three-year divorce battle” writes The Associated Press for latimes.com. The U.K. Parliament already rejected a previous Brexit deal crafted by former British Prime Minister Theresa May three times.The key hurdle to a Brexit deal was finding a way to keep goods and people flowing freely across the border between EU member Ireland and the U.K.’s Northern Ireland after Brexit.And the deal gives Northern Ireland a say…

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GBP News 

Pound’s Brexit rally pauses, yuan falls on Hong Kong worries

“Against the euro, the British currency fell around 0.2% to 86.48 pence” reports cnbc.com. The yen rose slightly to 108.70 per dollar, pulling away from a two-month low.A stack of British one pound sterling coins stand in front of a British Union flag in this arranged photograph in the United Kingdom, on June 13, 2016.The yen also rose around 0.4% versus the pound and the Australian dollar. Source: cnbc.com

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GBP News 

Gold edges higher as Brexit uncertainty spurs safe-haven bid

“Media reports quoting EU officials as saying negotiators were close to a Brexit deal triggered a late afternoon rally across equity markets on Tuesday” reports cnbc.com. Asian shares were upbeat as Britain and the EU made headway on a Brexit deal ahead of a leaders’ summit.Spot gold was up 0.2% at $1,484.49 per ounce as of 0130 GMT. U.S. gold futures were 0.3% higher at $1,488.10 per ounce. Source: cnbc.com

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GBP Markets News 

Gold steadies before Brexit summit, palladium hits record high

“The United States on Friday outlined the first phase of a trade deal and suspended this week’s scheduled tariff hikes on Chinese goods” reports cnbc.com. “We’ve had the initial lukewarm response to phase one of the trade deal … the risk of profit-taking in gold has not really emerged.Gold steadied on Tuesday, moving in a tight range, after hopes of progress in U.S-China trade talks were tempered and ahead of a summit that will determine how Britain leaves the European Union.U.S. gold futures rose 0.1% to $1,498.40. Source: cnbc.com

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GBP News 

UK foreign minister to meet parents after fatal crash involving U.S. diplomat’s wife: Sky

“LONDON (Reuters) – British foreign minister Dominic Raab will meet the parents of a teenager who was killed in a road crash involving a U.S. diplomat’s wife, Sky News reported on Wednesday” writes Midwest Communications Inc for 95kqds.com. The U.S. woman involved in the crash later left Britain, invoking diplomatic immunity. Source: 95kqds.com

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GBP News 

Final Thomas Cook holiday-makers to fly home to Britain

“LONDON (Reuters) – The final contingent of holiday-makers stranded overseas after the collapse of tour company Thomas Cook last month will return to Britain on flights departing on Sunday, bringing to an end the country’s biggest ever peacetime repatriation” writes Midwest Communications Inc for 95kqds.com. The UK Civil Aviation Authority (CAA) launched “Operation Matterhorn” on Sept. 23 to bring home 150,000 people, just hours after the world’s oldest travel company failed to secure the creditor deal it needed to keep flying. British Transport Minister Grant Shapps has said the government…

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GBP News 

Global trade is deteriorating fast, sapping the world’s economy

“The latest sign arrived Tuesday morning, as the World Trade Organization slashed its forecast for trade growth for this year and next” writes This Story Was for seattletimes.com. Only six months ago, the organization was forecasting more than double that pace of growth, a 2.6% expansion in merchandise trade.Prices for crude oil fell, another sign that markets were assuming weaker global economic growth ahead.The WTO warned that intensifying trade conflicts pose a direct threat to jobs and livelihoods, while discouraging companies from expanding and innovating.Ever since Britain set Brexit in…

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AUD GBP News 

Britain ‘will aim for freedom of movement deal with Australia’

“The proposal, which would allow British citizens to live and work in Australia visa-free, and vice-versa, was part of ongoing trade talks, she said” writes Kate Proctor for theguardian.com. Free movement between Australia and the UK would be explored by the government in “post-Brexit” business talks, Liz Truss, the international trade secretary, has announced.At a press conference with the Australian trade minister, Simon Birmingham, Truss was asked about a freedom of movement proposal.Yesterday, while on a trip to Australia, Truss told journalists in Canberra that securing a trade deal was…

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