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Asian share markets cautious, pound stumbles on Brexit drama

“Oil futures fell as lingering economic growth concerns and excess supplies of crude prompted speculators to trim their long positions” writes Midwest Communications Inc for 95kqds.com. Financial markets have been whipsawed over this period as a steady increase in tit-for-tat tariffs have slowed global trade and raised the risk of recession for some countries.The Brexit maelstrom, worries over slowing global growth and international trade frictions have kept investors on edge over recent months.TOKYO (Reuters) – Asian stocks were steady in a cautious start to the week on Monday, while the…

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Boris Johnson to seek a new vote Monday on Brexit deal, as confusion swirls over exit delay

“But E.U. leaders would prefer to know whether the new Brexit deal has passed Parliament before they decide how long to delay the date and on what terms” writes Michael Birnbaum for washingtonpost.com. A bill passed last month by British lawmakers mandated that if a deal were not approved by Saturday, Johnson would have to formally seek a three-month extension beyond the Oct. 31 deadline.E.U. ambassadors gathered Sunday morning for a 15-minute meeting in which they signed off on the Brexit deal and forwarded it to the European Parliament so…

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EU plays for time as Johnson spars with UK parliament on Brexit

“While weary of the tortuous Brexit process, EU leaders are keen to avoid a disorderly no-deal Brexit and are unlikely to reject the request” writes Midwest Communications Inc for 95kqds.com. The fractious British parliament refused to vote on Johnson’s new Brexit withdrawal deal on Saturday, a move that forced him to seek a third postponement of Britain’s departure from the bloc.At a rare Sunday meeting of ambassadors of the 27 states that will make up the EU after Brexit, the diplomats decided to forward Johnson’s deal to the European Parliament…

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So what’s next after the U.K. parliament’s non-vote on Brexit?

“But the vote of the British Parliament also makes the possibility of a no-deal Brexit a little more remote” writes Senior Writer for marketwatch.com. The vote of U.K. lawmakers derailing Prime Minister Boris Johnson’s plan to have Parliament approve the Brexit deal he concluded this week with the European Union will prolong short-term political uncertainty.Uncertainty could be rekindled if the Conservative Party loses the elections and a new PM is appointed, because he or she would want to renegotiate the Brexit deal. Source: marketwatch.com

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Path for legal trade with Iran open: BICC

“TEHRAN – Vice-President of the British-Iranian Chamber of Commerce (BICC) Richard Dalton said on Friday that the channel for legal trade with Iran is still open despite U.S. sanctions against the country” reports tehrantimes.com. The meeting was attended by representatives of the British Ministry of International Trade, chambers of commerce of the two countries and British and Iranian trade companies, entrepreneurs, and Iran’s ambassador to London Hamid Baeedinejad.Deploring EU’s procrastination for implementing their commitments under the JCPOA and inability to bypass the sanction, he said that however, trade with Iran…

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British Parliament votes to delay Brexit

“At a special session of Parliament intended to ratify the Brexit deal, lawmakers voted 322-306 to withhold their approval on the Brexit deal until legislation to implement it has been passed” writes Associated Press for marketwatch.com. To make up for the votes of 10 DUP lawmakers, Johnson has tried to persuade members of the left-of-center Labour Party to support the deal.It also gives lawmakers another chance to scrutinize — and possibly change— the Brexit departure terms while the legislation is passing through Parliament.Britain could still leave the EU on Oct.…

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Brexit deal clinched in Brussels, Johnson still needs backing at home

“Separately, British Prime Minister Boris Johnson said “we have a great new Brexit deal”” writes Midwest Communications Inc for 95kqds.com. BRUSSELS (Reuters) – Britain clinched a Brexit deal with the European Union on Thursday, European Commission President Jean-Claude Juncker said, just a few hours before the start of a summit of the bloc’s leaders in Brussels.However, the Northern Irish party Johnson needs to help ratify any agreement has refused to support the deal that was hammered out over weeks of negotiations. Sterling surged more than 1% and British share prices…

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Brexit up in the air at EU summit as DUP refuses to back draft

“But the British parliament, which defeated similar deals struck by Johnson’s predecessor Theresa May three times, may present an even higher hurdle” writes Midwest Communications Inc for 95kqds.com. Johnson had assured the EU that, after May’s three defeats, he could get a deal approved in the British parliament.”We will continue to work with the Government to try and get a sensible deal that works for Northern Ireland and protects the economic and constitutional integrity of the United Kingdom.”.  Source: 95kqds.com

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UK retail sales growth softens in third-quarter as department stores disappoint

“The figures chime to a degree with a British Retail Consortium survey that showed the biggest fall in retail spending of any September since at least the mid-1990s” writes Midwest Communications Inc for 95kqds.com. The ONS’s measure of retail spending showed annual sales growth slowing to 3.5% in the third quarter from 4.1% in the second quarter, its weakest growth rate in more than three years.Monthly retail sales volumes were flat in September and annual sales growth picked up to 3.1% from a weak 2.6% in August, the Office for…

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British pound volatile after report says major Brexit-deal obstacle removed

“The British pound was sent on a rollercoaster ride Wednesday, spiking briefly against the U.S. dollar on a report that a big obstacle to a Brexit deal has been removed” writes Markets Reporter for marketwatch.com. The pound has since fallen back after the DUP’s leader Arlene Foster reportedly denied the report and said talks will continue.Markets have been on a knife-edge in the runup to a two-day European Union meeting that starts Thursday, seen as a deadline for a deal to get done. The pound has since drifted back to…

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