Brexit News Archive: 16 Mar 2017

Gold Soars Most Since Brexit As Stocks, Bonds Stumble

It seems Yellen's desperate attempt to tell the world that the US economy is doing fantastic BUT not well enough to raise rate more than 3 times appears to have let stocks hope down. Combine that with ECB comments and uncertainty over Trump's budget and the political 'put' rallied as ...
Zero Hedge   |   Thu, 16 Mar 2017 20:04:13

UK PM Rejects Scottish Bid for Independence Referendum

Prime Minister Theresa May rejected Scotland's bid to hold a referendum on independence before the U.K. leaves the European Union, the latest twist in the increasingly acrimonious fight over Brexit with the nationalist government in Edinburgh. While not ruling one out eventually, May's team said they would not even discuss ...
OANDA   |   Thu, 16 Mar 2017 18:05:31

Theresa May Pours Cold Water on Second Scottish Referendum Before Brexit

British Prime Minister Theresa May sent a strong signal that she won't agree to a second referendum on Scottish independence while Britain remains part of the EU.
WSJ   |   Thu, 16 Mar 2017 14:48:28

Schaeuble calls for 'strong' City post Brexit

Germany's finance minister wants a Brexit deal in which the City of London remains a global financial force.
BBC   |   Thu, 16 Mar 2017 13:55:49

Is Trump Dragging Down the European Far-Right?

Donald Trump's victory in the U.S. presidential election in November was heralded as the latest in a series of triumphs for the populist right: First there was Brexit, followed by a series of gains for right-wing, anti-immigration parties in Europe. When Italians voted against a referendum backed by Prime Minster ...
David A. Graham / The Atlantic   |   Thu, 16 Mar 2017 13:18:21

Theresa May has blocked a second Scottish independence referendum before Brexit

LONDON - Theresa May has announced her intention to block a second Scottish independence referendum before Britain has left the EU. Scottish First Minister Nicola Sturgeon said on Monday that she intends to call a referendum at some point between Autumn 2018 and Spring 2019, just months before the UK ...
Business Insider   |   Thu, 16 Mar 2017 12:49:54

Gold Surges Most Since Brexit After 'Dovish' Fed Hike

With the focus overnight on the Rutte 'win' despite the surge in populist angst, and headlines from The Fed, PBOC, BoJ, and BoE sending global stocks to record highs, one might be forgiven for not noticing that Gold is surging (most since Brexit) following Janet's decision to raise rates for ...
Zero Hedge   |   Thu, 16 Mar 2017 12:18:26

Bank of England keeps rates low amid Brexit uncertainty

LONDON- The Bank of England has kept its key interest rate at a record-low 0.25 percent to avoid slowing economic growth as Britain prepares to leave the European Union. The Bank of England has signaled it is willing to temporarily ignore its 2 percent inflation target rather than risk stalling ...
CNBC   |   Thu, 16 Mar 2017 12:02:00

Bank of England votes 8-1 to hold interest rate at 0.25 percent

BOE errs on the side of caution until more clarity emerges on the Brexit process.
CNBC   |   Thu, 16 Mar 2017 12:01:00

Toyota to invest in Britain plant despite Brexit

Toyota announced a £240 million ($293 million) investment in a car assembly plant in central England on Thursday, despite uncertainty over Britain's looming exit from the European Union. The auto giant said the fresh funds, which will include £21.3 million from the U.K. government, would be used to update its ...
Japan Times   |   Thu, 16 Mar 2017 11:54:49

Toyota invests £240m in Derbyshire plant - but warns over Brexit tariffs

Japanese carmaker to modernise Burnaston factory with the help of £21.3m from UK government Toyota is to invest £240m into upgrading its car plant in Derbyshire in a major boost for the automotive industry after Britain's vote to leave the EU. The Japanese carmaker will modernise the plant in Burnaston ...
Graham Ruddick / Guardian   |   Thu, 16 Mar 2017 11:10:34

Sterling dips before Bank of England decision

LONDON, March 16- Sterling retreated against the dollar and euro on Thursday, with signs the economy is finally slowing after last year's Brexit vote expected to weigh on the Bank of England's message on interest rates later in the day. "The February message looked dovish against market pricing and BoE ...
CNBC   |   Thu, 16 Mar 2017 10:46:00

British PM May rejects call for Scottish independence vote

LONDON (AP) - British Prime Minister Theresa May has rejected a call from Scotland's leader for a referendum on Scottish independence before Britain leaves the European Union.
Associated Press   |   Thu, 16 Mar 2017 09:52:00

The City lose its status post-Brexit? It's a completely potty idea

It's now almost nine months since the referendum, and Article 50 is about to be invoked.
Here Is The City   |   Thu, 16 Mar 2017 07:48:50

Brexit: Queen to give Royal Assent to Article 50 bill

Royal Assent on Thursday will clear the way for Theresa May to formally start talks to leave the EU.
BBC   |   Wed, 15 Mar 2017 22:06:19

Donald Tusk On Brexit - Don't Intimidate EU With No Deal Threat

This will make us richer. This is actually a threat to the Fortress Europe of the zollverein for what happens when people see that we become richer without the trade restrictions that the EU currently imposes?
Tim Worstall, Contributor / Forbes   |   Wed, 15 Mar 2017 17:11:00

The Dutch are voting in an election seen as a key test for populism and far-right movement

Millions of Dutch voters went to the polls Wednesday in a key test of the "patriotic revolution" promised by far-right MP Geert Wilders, as final opinion polls showed his support deflating. Following last year's shock Brexit referendum, and Donald Trump's victory in the US, the Dutch vote is being closely ...
Agence France-Presse / South China Morning Post   |   Wed, 15 Mar 2017 11:33:03

EU will not be 'intimidated' by Theresa May's threat to walk away without a Brexit deal, says Donald Tusk

Laura Hughes / Telegraph   |   Wed, 15 Mar 2017 10:07:24

The EU expected Theresa May to trigger Article 50 yesterday

LONDON - The European Union expected Britain to invoke Article 50 this week and had put plans in place in preparation for the historic event. European Parliament President Antonio Tajani had organised a press conference to take place on Thursday in anticipation of Prime Minister Theresa May triggering the start ...
Business Insider   |   Wed, 15 Mar 2017 09:41:23

UK BrexitMin Davis: Expect Queen's assent for Article 50 bill tomorrow

UK's Brexit Minister David Davis is out on the wires now, via Reuters, commenting on the Article 50 trigger talks. Key Headlines: UK govt has not do
Dhwani Mehta / FX Street   |   Wed, 15 Mar 2017 09:38:33

Headline unemployment in Britain just fell to another record low, but real wage growth is cooling rapidly

Headline unemployment falls to just 4.7% - a level not seen since summer 1975. Employment rate unchanged at 74.6%, another record low. Real wage growth is slowing, however, with regular pay increasing by 0.8%, the lowest level since October 2014. "The labour market remains robust," according to senior ONS statistician ...
Business Insider   |   Wed, 15 Mar 2017 09:34:28

Brexit: Donald Tusk warns UK against 'no deal threat'

The UK and Europe can remain "close friends in the future" the European Council president says.
BBC   |   Wed, 15 Mar 2017 09:28:07

EU's Tusk: EU is carefully preparing for Brexit talks

The European Union (EU) president Donald Tusk is on the wires now, via Reuters, speaking to parliament in Strasbourg. Key Points: Hopes EU can reach
Dhwani Mehta / FX Street   |   Wed, 15 Mar 2017 08:37:10

Second Scottish referendum: is independence now inevitable?

Following Nicola Sturgeon's announcement that she will seek authority for a Scottish referendum, Paul Cairney offers an overview of how the story may develop. With Brexit having drastically changed the independence argument, he explains how this new context could be used to support both those for and against leaving the ...
British Politics and Policy at LSE   |   Wed, 15 Mar 2017 08:30:15

Market Briefing - US markets ended lower yesterday, as a slump in crude oil prices dragged down energy producers

UK Market Snapshot UK markets closed in the red yesterday, led by losses in banking and energy stocks after the British Parliament approved the government's plan to start the Brexit process. Lenders, Lloyds Banking Group, Standard Chartered, Barclays and Royal Bank of Scotland Group fell 1.0%, 1.2%, 1.6% and 2.5%, ...
Proactive Investors   |   Wed, 15 Mar 2017 08:18:00

POLL: Support for Scottish independence hits a record high but so does anti-EU sentiment

Support for Scottish independence is strong, according to ScotCen's Scottish Attitudes Survey. Support for independence has doubled from 23% in 2012 to 46% in 2016. 67% of Scottish voters hold Eurosceptic views. LONDON - Scottish independence has never been so popular, according to a survey by research company ScotCen. But ...
Business Insider   |   Wed, 15 Mar 2017 08:14:50