Brexit News Archive: 10 Jan 2017

Trump and Brexit put global economic growth at risk, World Bank says

Washington-based bank says policy uncertainty and protectionist tendencies could undermine pickup in 2017 A tentative pickup in the global economy this year is at risk from the political uncertainty unleashed by Brexit and the arrival of Donald Trump in the White House, the World Bank has said. The Washington-based organisation ...
Larry Elliott Economics editor / Guardian   |   Tue, 10 Jan 2017 21:00:00

Jeremy Corbyn: I've not changed mind on immigration

Labour's leader denies he has changed his views on immigration as he sets out his stance on Brexit.
BBC   |   Tue, 10 Jan 2017 19:00:21

Jeremy Corbyn proposes setting maximum cap on earnings - video

Jeremy Corbyn suggests company bosses should have their pay limited to less than 20 times that of their lowest paid worker if they want their firms to be eligible for government contracts. Speaking in Peterborough on Tuesday, the Labour leader also took the opportunity to refine his position on immigration, ...
Guardian Staff / Guardian   |   Tue, 10 Jan 2017 18:20:43

'Labour is not wedded to freedom of movement': Jeremy Corbyn's Brexit speech in full

Jeremy Corbyn / Telegraph   |   Tue, 10 Jan 2017 15:46:00

Jeremy Corbyn rewrites Brexit speech following immigration backlash

LONDON - Labour party leader Jeremy Corbyn on Tuesday said he would not rule out continuing to support the free movement of people from the European Union, just hours after his party briefed that he was no longer "wedded" to the idea. Labour had sent out a briefing suggesting that ...
Business Insider   |   Tue, 10 Jan 2017 15:45:44

Hard Brexit threatens global financial system, City chiefs tell MPs

Brexit poses a risk to the global financial system and could spark more than 230,000 job losses in the financial sector, senior City figures have warned MPs as they called for clarity on the UK's future relationship with the EU.
Here Is The City   |   Tue, 10 Jan 2017 15:33:55

Gold Price In GBP Up 4% On Brexit and UK Risks

Gold Price In GBP Rises 4% On Brexit and UK Economy Risks - Pound fell 2% against gold yesterday after Theresa May created Brexit concerns - May's 'Hard Brexit' denial does not calm markets growing fears - Investors concerned about lack of government strategy and uncertainty - UK Prime Minister ...
Zero Hedge   |   Tue, 10 Jan 2017 12:59:44

GLOBAL MARKETS-Stocks and oil edge higher; sterling reels from Brexit pain

* Live Markets blog: (Recasts, updates throughout)
Reuters   |   Tue, 10 Jan 2017 12:47:08

UPDATE 1-Euro zone yields fall as politics outweigh supply expectations

LONDON, Jan 10 (Reuters) - Euro zone bond yields dipped on Tuesday as concerns that Britain faced a "hard Brexit" when it leaves the European Union and the prospect of unpredictable elections in...
Reuters   |   Tue, 10 Jan 2017 12:43:42

Hard Brexit threatens global financial system, City chiefs tell MPs

Finance chiefs demand clarity on EU exit strategy as MPs hears concerns for tens of thousands of jobs if London loses euro clearing and passporting rights Brexit poses a risk to the global financial system and could involve tens of thousands of job losses in the City, MPs have been ...
Jill Treanor / Guardian   |   Tue, 10 Jan 2017 12:42:39

Jeremy Corbyn on Brexit, immigration and a maximum wage

The full interview between Labour leader Jeremy Corbyn and BBC political editor Laura Kuenssberg.
BBC   |   Tue, 10 Jan 2017 11:21:07

GLOBAL MARKETS-Stocks and dollar fall; sterling reels from Brexit pain

* Live Markets blog:
Reuters   |   Tue, 10 Jan 2017 09:53:23

Euro zone yields fall as politics outweigh supply expectations

LONDON, Jan 10 (Reuters) - Euro zone bond yields dipped on Tuesday as concerns that Britain faced a "hard Brexit" when it leaves the European Union and other political events outweighed inflation and...
Reuters   |   Tue, 10 Jan 2017 09:36:48

Jeremy Corbyn calls for maximum wage law

Labour leader says cap on earnings is needed to address inequality and avoid UK becoming bargain basement economy Jeremy Corbyn has called for a maximum wage for the highest earners, saying he fears Brexit will see the UK become a "grossly unequal, bargain basement economy". The Labour leader would not ...
Jessica Elgot Political reporter / Guardian   |   Tue, 10 Jan 2017 09:22:20

Pound traders fret over Theresa May's Brexit vagueness

Markets waiting for government to reveal its plan on life after EU
FT   |   Tue, 10 Jan 2017 08:48:29

Corbyn Calls For Law to Limit Maximum Wage

Corbyn is supposed to be talking about Brexit and immigration this morning so instead he has gone on the Today programme to call for a law to limit the maximum wage. Jez said "I would like there to be some kind of high earnings cap" though wouldn't give a figure. ...
Guy Fawkes' blog   |   Tue, 10 Jan 2017 08:37:56

Jeremy Corbyn 2.0: Leadership 'reboot' fails after he backtracks on new Brexit pledge hours before announcing 'Labour is not wedded to free movement'

Michael Wilkinson / Telegraph   |   Tue, 10 Jan 2017 07:49:22

GBP/USD off lows around 1.2150, Brexit still weighs

The selling bias around the British Pound remains intact on Tuesday, with GBP/USD managing to bounce off lows near 1.2130 and clinch the mid-1.2100s a
Pablo Piovano / FX Street   |   Tue, 10 Jan 2017 06:54:42

Post-Brexit inward investment tally recounted old schemes

Trade department study of '£16bn' projects coming to UK shows deals unveiled years ago
FT   |   Tue, 10 Jan 2017 05:30:35

Hard Brexit is not inevitable, says British PM May

...
People's Daily   |   Tue, 10 Jan 2017 01:27:19

Corbyn: Labour not wedded to EU free movement

Jeremy Corbyn will say the UK can be "better off" after Brexit, as he calls for "fair" immigration.
BBC   |   Mon, 9 Jan 2017 22:02:13

Corbyn: Labour is willing to sacrifice the free movement of people

LONDON - Labour leader Jeremy Corbyn will on Tuesday abandon his long-held commitment to open borders and signal that he is willing to allow Theresa May's government to end the free movement of people once Brexit talks begin with the EU. In a keynote speech that he is set to ...
Business Insider   |   Mon, 9 Jan 2017 22:00:00

Sterling Falls on Theresa May's Brexit Comments

The pound fell sharply against the dollar and euroMonday afterU.K. Prime MinisterTheresa Maytalked of the sort of definitive break from the European Union that many investors believe will hit Britain's trade with its biggest partner.
WSJ   |   Mon, 9 Jan 2017 21:49:28

Brexit & Beyond: Sterling Hits 10-Week Low, May Vows Definitive Break With EU, UKIP to Lose Ally

Brexit & Beyond: Europe in Flux is The Wall Street Journal's round-up of news and analysis of how Brexit will affect global business, economies and finance. You can sign up here. MUST READS The pound fell sharply against the dollar and euro Monday. PHOTO: BLOOMBERG NEWS Sterling Falls to 10-Week ...
MoneyBeat   |   Mon, 9 Jan 2017 19:53:07

TREASURIES-U.S. yields slip on jitters about China, Britain

* Worries about yuan, 'hard Brexit' spur safety bids for bonds * Hedging on corporate bond supply limits drop in bond yields * U.S. to sell $56 billion in longer-dated government debt *...
Reuters   |   Mon, 9 Jan 2017 19:49:44

Pound falls to 10-week low after Theresa May's Brexit comments

FTSE 100 records eighth consecutive day of record highs, its longest run in two decades The pound fell to a 10-week low on Monday after Theresa May fuelled concerns that British exporters faced the loss of unfettered access to the European Union's major economies under a hard Brexit. Over the ...
Phillip Inman Economics correspondent / Guardian   |   Mon, 9 Jan 2017 19:17:23

Pound hits new low after Theresa May's Brexit remarks

Sterling at $1.21, its lowest since 1985, after prime minister says UK will not hold on to "bits of EU membership".
Al Jazeera   |   Mon, 9 Jan 2017 19:03:24

Falling pound ignores May defence and hard Brexit denial

PM rounds on media for inflaming fears but Merkel insists no cherry-picking
FT   |   Mon, 9 Jan 2017 18:56:18

Traders fret over Theresa May's Brexit vagueness

Markets waiting for government to reveal its plan on life after EU
FT   |   Mon, 9 Jan 2017 18:19:53

So Theresa May Had To Go Ahead And Remind Us About The Whole Brexit Thing

The Pound looks terrible, you guys.
Dealbreaker   |   Mon, 9 Jan 2017 17:59:19

Pound hit by Brexit fears as FTSE 100 closes at fresh record high - as it happened

Sterling has fallen to its lowest level since October after Theresa May suggests Britain will leave the Single Market after Brexit Summary: EU fears hit the pound Dow slips further away from 20,000 barrier May criticises talk of Hard Brexit Commerzbank: City fears a Brexit disaster Chart: Pound near lowest ...
until 2.25 / Guardian   |   Mon, 9 Jan 2017 17:49:58

London stocks hit record high, pound slumps

LONDON - The London stock market ended the day on another record high on Monday, shrugging off weakness on Wall Street and other European markets, as Brexit concerns battered the pound.
Bangkok Post   |   Mon, 9 Jan 2017 17:30:00

Merkel Says No Cherry Picking on Brexit Negotiations

The European Union must consider limiting Britain's access to its single market if London fails to accept the bloc's four freedoms in Brexit negotiations, German Chancellor Angela Merkel said on Monday. Adding pressure on British Prime Minister Theresa May who at the weekend hinted at a "hard Brexit" - in ...
OANDA   |   Mon, 9 Jan 2017 17:23:31

British pound hits new low after May's Brexit remarks

Sterling at $1.21, its lowest since 1985, after prime minister says UK will not hold on to "bits of EU membership".
Al Jazeera   |   Mon, 9 Jan 2017 17:19:38

TREASURIES-U.S. yields fall on jitters about China, Britain

* Worries about yuan, "hard Brexit" spur safety bids for bonds * U.S. to sell $56 billion in longer-dated government debt * Fed's Rosengren calls for gradual but faster rate increases (Adds...
Reuters   |   Mon, 9 Jan 2017 16:50:03

WSJ City's Brexit Briefing: Sterling Faces Double Trouble, May Pledges 'Ambitious' EU Deal

Download WSJ City for iPhone here or Android here. You'll need to open this email on your mobile device to do this. And you can sign up to receive this briefing direct to your inbox here. MUST READS FROM WSJ CITY The pound isn't having a happy new year. With ...
MoneyBeat   |   Mon, 9 Jan 2017 16:29:53

London bourse hits record high as pound slides

(ChinaPost.com.tw) - The London stock market reached another record high Monday as the pound slumped to the lowest level in three months on Brexit concerns.
The China Post   |   Mon, 9 Jan 2017 16:10:00

UPDATE 1-Merkel says no 'cherry picking' for Britain in Brexit talks

BERLIN, Jan 9 (Reuters) - The European Union must consider limiting Britain's access to its market if London fails to accept the bloc's 'four freedoms' in Brexit negotiations, German Chancellor...
Reuters   |   Mon, 9 Jan 2017 16:07:02

Merkel says no 'cherry picking' for Britain in Brexit talks

BERLIN, Jan 9 (Reuters) - The European Union must consider limiting Britain's access to its single market if London fails to accept the bloc's four freedoms in Brexit negotiations, German Chancellor...
Reuters   |   Mon, 9 Jan 2017 15:13:29

FX Daily, January 09: Sterling Pounded by May's Hard Brexit

Sterling has stolen the US dollar's spotlight. The issue facing market participants was if the rise in hourly earnings reported as part of the pre-weekend release of US December jobs data was sufficient to end the dollar's downside correction. Instead, May's comments over the weekend indicating not just a desire ...
SNB CHF Blog   |   Mon, 9 Jan 2017 13:52:06

Theresa May Vows Definitive Break With EU

May Says Britain Will Make Definitive Break With EU U.K. Prime Minister Theresa May said Britain would make a definitive break with the European Union while still seeking to negotiate the best possible access to the bloc's common market.May Vows Definitive Break With EU U.K. Prime Minister Theresa May said ...
WSJ   |   Mon, 9 Jan 2017 13:39:07

UPDATE 2-Sterling slides after PM May reignites "hard Brexit" fears

LONDON, Jan 9 (Reuters) - Sterling was on track for its biggest daily losses in three months on Monday, sliding over 1 percent to a 10-week low to the dollar after Prime Minister Theresa May said she...
Reuters   |   Mon, 9 Jan 2017 13:22:23

GLOBAL MARKETS-European shares fall, sterling dives on Brexit comments

*European shares dip but Britain's FTSE hits record high. LONDON, Jan 9- The dollar edged up on Monday, boosted by robust U.S. wage growth data that strengthened the case for more U.S. interest rate rises, while Britain's pound fell on comments by Prime Minister Theresa May seen as pointing to ...
CNBC   |   Mon, 9 Jan 2017 13:03:00

Sterling Pounded By May's Hard Brexit

Seeking Alpha   |   Mon, 9 Jan 2017 12:25:25

FOREX-Dollar regains traction, sterling gets a Brexit bashing

*Dollar climbs against yen, euro after early Europe wobble. LONDON, Jan 9- Talk of Britain drastically reworking trade ties with the European Union after Brexit sent the pound tumbling to two-month lows on Monday, as signals that U.S. interest rates could rise three times this year lifted the dollar. The ...
CNBC   |   Mon, 9 Jan 2017 12:17:00

FTSE 100 hits new record high on sterling weakness

LONDON - Britain's blue-chip index hit a new record high on Monday, supported by sterling's weakness on 'hard Brexit' concerns, as miners continued to lead sectoral gains.
Bangkok Post   |   Mon, 9 Jan 2017 12:16:00

May Delivers Another Brexit Blow to Sterling

A lively start to the year looks likely to continue into week two, with the pound coming under particular pressure this morning as the prospect of a harder Brexit continues to sink in. While investors and businesses would like to see the UK government prioritise single market access and continued ...
OANDA   |   Mon, 9 Jan 2017 11:58:32

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, MCD, AAPL)

Here is what you need to know. Theresa May is aiming for a "Hard Brexit." In a Sky News interview on Sunday, UK Prime Minister May said Brexit will be about "getting the right relationship" with the European Union and "not about keeping bits of membership." The British pound is ...
Business Insider   |   Mon, 9 Jan 2017 11:49:00

Rolls-Royce Motor to stay in UK despite Brexit

Luxury carmaker had warned about possible consequences for workers of a Leave vote
FT   |   Mon, 9 Jan 2017 11:37:13

FTSE 100 set to match longest record-setting streak in 33-year history as pound slides on Brexit fears

Telegraph   |   Mon, 9 Jan 2017 11:24:51

Sterling Pounded by May's Hard Brexit

Sterling has stolen the US dollar's spotlight. The issue facing market participants was if the rise in hourly earnings reported as part of the pre-weekend release of US December jobs data was sufficient to end the dollar's downside correction. Instead, May's comments over the weekend indicating not just a desire ...
Marc to Market   |   Mon, 9 Jan 2017 10:58:42

Pound falls on May's Brexit hint

The pound hits a two-month low after Theresa May signals the UK will pursue a so-called "hard Brexit".
BBC   |   Mon, 9 Jan 2017 10:48:23

British PM again signals painful Brexit

In an interview with Sky News, Prime Minister Theresa May promised to limit migration from the EU after Brexit, suggesting British business will face new barriers to doing business in Europe.
CNN   |   Mon, 9 Jan 2017 10:28:30

Sterling Plunges on May Brexit Comments

The British pound sank to a two-month low versus the U.S. dollar on Monday morning, hit by both strong labor data out of the United States and comments from the British Prime Minister suggesting the U.K. may be on track to leave the European single market. Sterling broke below 1.22 ...
OANDA   |   Mon, 9 Jan 2017 10:12:04

GLOBAL MARKETS-European shares dip, sterling falls on Brexit comments

*European shares dip but Britain's FTSE hits record high. LONDON, Jan 9- The dollar edged higher on Monday, boosted by robust U.S. wage growth data strengthening the case for more Federal Reserve interest rate increases, while Britain's pound fell on Prime Minister Theresa May's hint at no membership of the ...
CNBC   |   Mon, 9 Jan 2017 10:06:00

Pound hits 2-month low on May's Brexit comment

Prime minister dismisses idea that UK could keep 'bits of' EU membership
FT   |   Mon, 9 Jan 2017 09:35:03

FOREX-Sterling takes Brexit bashing, dollar regains traction

LONDON, Jan 9- Talk of Britain dramatically reworking trade ties with the European Union after Brexit sent the pound tumbling to two-month lows on Monday, as signals the United States could raise interest rates three times this year lifted the dollar. The pound slid around 1 percent against both the ...
CNBC   |   Mon, 9 Jan 2017 09:30:00

Rolls-Royce boss pledges future in UK despite Brexit qualms

Luxury carmaker unveils second-highest sales figure in more than a century Rolls-Royce Motor Cars has pledged not to turn its back on the UK amid concerns that firms could shift their headquarters overseas after the Brexit vote. The luxury carmaker, which is owned by Germany's BMW, posted its second-highest annual ...
Rob Davies / Guardian   |   Mon, 9 Jan 2017 09:23:07

Pound slides to lowest since October on May's Brexit comment

Prime minister dismisses idea that UK could keep "bits of" EU membership, rattling the pound
FT   |   Mon, 9 Jan 2017 09:01:56

The pound is at a 2 month low against the dollar after Theresa May's 'Hard Brexit rhetoric'

LONDON - The pound is falling against most major currencies on Monday morning after Theresa May signalled in an interview that the UK is likely to quit the Single Market when Brexit occurs. Sterling is down 0.77% against the dollar at just after 8.00 a.m. GMT (3.00 a.m. ET) and ...
Business Insider   |   Mon, 9 Jan 2017 08:24:56

Pound hit by Brexit fears as FTSE 100 touches fresh record high - business live

Sterling has fallen to its lowest level since October after Theresa May suggests Britain will leave the Single Market after Brexit Latest: Pound hits two-month low Full story: May hints at single market exit 8.08am GMT Newsflash! The pound has fallen to its lowest level in over two months, as ...
Graeme Wearden / Guardian   |   Mon, 9 Jan 2017 08:08:21