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EU drafting retaliatory tariff list hitting Caterpillar, Xerox, Samsonite: Bloomberg

“WASHINGTON (Reuters) – The European Union is drafting a list of retaliatory tariffs that would target Caterpillar Inc, Xerox Corp and Samsonite International if U.S. President Donald Trump imposes duties on European cars, Bloomberg News reported on Friday, citing an unnamed senior EU official” reports businessinsider.com. Trump, who is known to have a strong protectionist bent on trade, has said the United States would impose tariffs on European car imports if it is unable to reach a trade deal with the European Union.He threatened tariffs on European car imports just…

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FATF says EU dirty money list risks undermining its work

“The FATF is an inter-governmental organization that underpins the fight against money laundering and terrorism financing by setting global standards and checking if countries respect them” reports businessinsider.com. He said that the FATF spent tens of thousands of hours working against money laundering and the financing of terrorism, and insisted that the body played the “central role” on the issue. Criteria the European Commission used to blacklist countries include weak sanctions against money laundering and terrorism financing, insufficient cooperation with the EU on the matter and lack of transparency about…

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GBP News 

Theresa May to be hit by multiple Brexit rebellions as Conservative MPs threaten to ‘end the government’

“There is a growing sense among centre-ground Conservative MPs that Brexiteer MPs are starting to come back to supporting May’s deal” writes Thomas Colson for businessinsider.com. Andrew Percy, a Brexit supporter who backs the prime minister’s deal, claimed Brexiteers who opposed it were in “total denial about the parliamentary arithmetic.”.  Source: businessinsider.com

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GBP News 

ALSO: Jeremy Corbyn To Tell EU Leaders Parliament Will Not Allow No-Deal Brexit

“Corbyn said he would use the meetings with EU chief negotiator Michel Barnier and others on Thursday to stress that a no-deal Brexit does not command a majority in parliament” writes Assistant News Editor for huffingtonpost.com. Ahead of the discussions with EU figures, the Labour leader called on Prime Minister Theresa May to abandon her Brexit “red lines” to secure a workable deal. She should abandon her damaging red lines and finally work with Labour to reach a deal which works for our country.” Corbyn will be joined in Brussels…

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Trump says EU auto tariffs will depend on negotiations, not long-awaited Commerce report

“President Trump said Wednesday that the decision whether to impose automobile and auto parts tariffs on the European Union would be based on whether the EU agreed to a deal, rather than on a long-awaited Commerce Department report on the subject” reports washingtonexaminer.com. They are very tough to make a deal with, the EU. They’ve been very difficult,” Trump told reporters when asked if tariffs were coming. Source: washingtonexaminer.com

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GBP News 

Backstop: May rules out ‘Malthouse compromise’

“Theresa May will present the EU with new legal proposals to solve the Irish backstop issue on Wednesday, which No 10 hopes will be enough to convince Eurosceptics to back her Brexit deal” writes Rowena Mason for theguardian.com. However, Jacob Rees-Mogg and Steve Baker sounded a conciliatory tone on Tuesday, insisting that the Malthouse agreement was “still live and kicking” and saying they looked forward to further developments.The Malthouse compromise was named after the housing minister, Kit Malthouse, who helped draft it as an attempt to find a Brexit deal…

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GBP News 

Aviva, NatWest to join ‘Brexodus’ of business to EU

“Aviva was among the last of the big insurers to secure court approval for shifting chunks of life, general, property, casualty and motor insurance policies to EU hubs” reports businessinsider.com. It had previously secured court approval to move around 1 billion pounds in general insurance assets.Among banks, Britain’s Barclays secured court approval last month to move 190 billion euros in assets to a Dublin subsidiary.The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets.Most of the policies…

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Twitter launches political ad tracking tools in Europe ahead of key EU polls

“Twitter said its political campaigning ads policy, introduced during the U.S. midterm elections, will also be launched in India and Australia, both of which are also heading to the polls” writes Chris Ratcliffe for cnbc.com. “Our political campaigning ads policy is being expanded to cover #EUElections2019, providing the general public with an additional layer of insight into who is running a political campaign ad on Twitter,” the company said in a blog post.Twitter on Tuesday rolled out tools in Europe which will make it easier for voters to identify political…

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Revolut: could allegations of Russian involvement sidetrack a fintech revolution?

“With its Lithuanian-issued EU banking licence, Revolut will start accepting deposits and offering retail and business lending in 2019, making it an even bigger rival for traditional banks” writes Arturo Bris for theconversation.com. But amid the prospects of a hard Brexit, and the opportunities provided by a larger EU banking market, Revolut started looking for a eurozone-based banking license.Soon after Revolut got its banking licence, however, Lithuanian politics started muddying the waters.The investigation could ultimately result in Revolut’s banking licence being revoked. Source: theconversation.com

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