GBP News 

Risk of no-deal Brexit ‘very real’, EU’s Juncker says

“There is very little time left…The risk of a no-deal is very real,” said Juncker, who met Johnson in Luxembourg on Monday” writes Midwest Communications Inc for 95kqds.com. STRASBOURG (Reuters) – An accord to ensure a smooth British exit from the European Union is still possible but the risk of a no-deal is also “very real”, European Commission President Jean-Claude Juncker said on Wednesday, six weeks before Britain is due to leave. Source: 95kqds.com

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Crypto News 

European Space Agency Awards €60K for Blockchain Satellite Wallet

“The European Space Agency (ESA) has awarded a 60,000 euro ($66,400) grant for blockchain startup SpaceChain to commercially develop its satellite-powered, multi-sig wallet” writes Marie Huillet for cointelegraph.com. In December 2018, blockchain development firm Blockstream expanded its satellite service to broadcast the Bitcoin (BTC) blockchain to all of Earth’s major landmasses.The grant will enable the startup to commercially develop its multi-signature satellite wallet.Since 2017, SpaceChain has been working to build an open-source, blockchain-based satellite network and has already developed its open-source operating system and flight-tested two blockchain nodes in outer…

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News 

Germany’s Scholz: We cannot accept parallel currencies such as Facebook’s Libra

“BERLIN (Reuters) – German Finance Minister Olaf Scholz said on Tuesday policymakers could not accept the emergence of parallel currencies such as Facebook’s planned Libra, adding that Berlin would reject any such plans” writes Midwest Communications Inc for 95kqds.com. “We cannot accept a parallel currency,” Scholz said during a panel discussion in Berlin.France and Germany on Friday said Facebook’s Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency.Facebook’s planned Libra is the most well-known of…

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News 

Greece seeks permission to repay part of IMF loans early

“Christos Staikouras said paying off the IMF loans ahead of schedule would reduce debt servicing costs by about 70 million euros ($77 million)” writes The Associated Press for seattletimes.com. Greece has repaid a large part of its IMF loans but still owes the fund about 9 billion euros.ATHENS, Greece (AP) — Greece has asked its European creditors to approve the early repayment of part of its bailout loans from the International Monetary Fund, the country’s finance minister said Monday. The average interest that Greece pays its European creditors is around…

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News 

Airbus, French exporters slip as U.S. tariffs loom in subsidy row

“LONDON/PARIS (Reuters) – Shares in Airbus and other key French exporters fell on Monday as Europe and the United States edged closer toward tit-for-tat sanctions in a long-running dispute over aircraft subsidies” writes Midwest Communications Inc for 95kqds.com. Both sides have won partial rulings in their favor in a 15-year dispute involving billions of dollars of domestic support for planemakers Airbus and Boeing . Source: 95kqds.com

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News 

Germany wants to cap next EU budget at 1% of GDP: sources

“The bloc’s current Finnish presidency hopes the national EU leaders will be able to agree a rough outline of the budget at a summit in October” writes Midwest Communications Inc for 95kqds.com. BRUSSELS (Reuters) – Germany, the European Union’s largest economy, wants to limit the bloc’s next budget for 2021-27 at 1% of the bloc’s economic output, sources told Reuters, below the 1.11% proposed by the executive European Commission.EU states are gearing up for a battle over the budget, which is due to be agreed next year, and national ministers…

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News Oil 

European shares fall after Saudi attacks, bleak China data

“(Reuters) – European shares fell on Monday after four straight sessions of gains as attacks on crude facilities in Saudi Arabia and weak China data dented investors’ risk appetite” writes Midwest Communications Inc for 95kqds.com. The drone attacks in the weekend, which cut more than 5% of the global oil supply, sent crude prices soaring as much as 19%, pushing the oil & gas index 3% higher.The pan-European STOXX 600 index fell 0.5% at 0710 GMT, with trade-sensitive German shares falling 0.6%. London’s FTSE logged the smallest losses, with a…

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Markets News Oil 

Loonie leads the charge ahead of European markets open

“The big story in markets is the jump in oil prices after Saudi oil facilities were attacked by Houthian drones over the weekend” reports forexlive.com. The attack wiped out about half of the kingdom’s production and that saw oil skyrocket at the open this week.But I would expect oil prices to stay underpinned in the short-term but the “blip” today should not detract from the overall outlook too much.Looking ahead, I would expect the Saudi news to continue reverberating through markets to start the week and that should keep sentiment…

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GBP News 

EU businesses warn no-deal Brexit would be disaster

“A disorderly, no deal exit of the UK would be extremely harmful for all sides” writes Midwest Communications Inc for 95kqds.com. BRUSSELS (Reuters) – Britain’s exit from the European Union without a divorce agreement would be a disaster and must be ruled out, Europe’s biggest business organization said on Monday, as EU officials warn this worst-case scenario is increasingly likely.”No deal is a recipe for disaster and should be definitely ruled out. Source: 95kqds.com

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News 

UK PM Johnson says he believes he can strike an EU deal within weeks

“(Reuters) – British Prime Minister Boris Johnson believes that he can strike a deal with the European Union within weeks, he said, writing in the Daily Telegraph newspaper” writes Midwest Communications Inc for 95kqds.com. He said that leaving the EU without a deal was never the outcome he wanted but preparations for a no-deal are “very extensive”. Source: 95kqds.com

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