Brexit News Archive: 07 Aug 2017

Brexit Uncertainty Shadows Bank of England's Every Move

The failure of wages to rise despite dropping unemployment makes it hard for central banks to know when interest-rate increases might be needed to offset inflation. In the U.K., Brexit makes it an even harder call.
WSJ   |   Mon, 7 Aug 2017 13:48:49

Brexit negotiations are not going well, says former top UK diplomat

'I don't think they have begun particularly promisingly, frankly, on the British side,' says Simon Fraser.
Connor Murphy / Politico   |   Mon, 7 Aug 2017 10:40:23

Brexit negotiations have not begun well for UK, says former top diplomat

Britain's negotiations over leaving the European Union have not begun well due to disagreements among Prime Minister Theresa May's team of ministers about the kind of deal they should be seeking, a former top British diplomat said. Simon Fraser, until 2015 the most senior civil servant at Britain's Foreign Office ...
Reuters / Times of Malta   |   Mon, 7 Aug 2017 10:25:00

ORB Poll: British election failure shakes confidence in May's Brexit strategy - RTRS

An Aug 2-3 opinion poll for ORB International showed that a majority of the British voters disapprove of the UK PM May's government's approach of hand
Dhwani Mehta / FX Street   |   Mon, 7 Aug 2017 09:42:42

Cabinet Splits Damaging Brexit Negotiations, Warns UK's Former Chief Diplomat

Cabinet divisions have meant Brexit negotiations have not begun well for the United Kingdom, the former head of the diplomatic service has warned. Sir Simon Fraser, who was the top civil servant at the Foreign Office until 2015, said the government did not appear to have a "clear position". Speaking ...
Ned Simons / Huffington Post   |   Mon, 7 Aug 2017 09:31:08

Election failure shakes confidence in May's Brexit strategy - ORB poll

LONDON (Reuters) - British Prime Minister Theresa May's botched gamble on a snap election has shaken public confidence in the government with nearly two thirds of voters now negative about her government's approach to Brexit talks, an ORB opinion poll indicated.
Reuters   |   Mon, 7 Aug 2017 09:00:18

If Britain doesn't pay the Brexit divorce bill, her ex-partners will have to

Walking away from the EU without paying a 'divorce bill' - or only a small one - would have major consequences for the remaining member states, because they would be forced to make up the shortfall for EU projects until 2021. That would leave the UK short of goodwill, writes ...
LSE   |   Mon, 7 Aug 2017 08:16:23

UK Consumer Spending Declines For a Third Month

British consumer spending fell for the third month in a row in July in its longest losing streak in over four years, according to data released on Monday, in another sign that the impact of last year's Brexit vote is rippling through to households. Overall consumer spending, the engine of ...
OANDA   |   Mon, 7 Aug 2017 08:11:05

UK consumer spending sees longest decline since 2013 - Visa

LONDON (Reuters) - British consumer spending fell for the third month in a row in July in its longest losing streak in over four years, according to data released on Monday, in another sign that the impact of last year's Brexit vote is rippling through to households.
Reuters   |   Mon, 7 Aug 2017 08:02:05

Brexit talks damaged by Cabinet splits which leave UK without a coherent strategy, says former top diplomat

Sir Simon Fraser warns the negotiations have not begun well - blaming the Government's failure to state clearly its position
Rob Merrick / The Independent   |   Mon, 7 Aug 2017 07:46:00

WSJ City: Brexit Uncertainty Shadows Bank of England, Wall Street Penalties Drop Sharply

Good morning from the WSJ City desks in London. Be the first with high-value stories. Download WSJ City for on your mobile and let us keep you in the loop from 6am. The WSJ City app. Upwardly mobile. iPhone and Android. Your friends and colleagues can sign up to this ...
MoneyBeat   |   Mon, 7 Aug 2017 06:49:41

UK ready to pay €40 Brexit bill

Seeking Alpha   |   Mon, 7 Aug 2017 06:34:38

Downing Street denies UK willing to pay EUR 40bn Brexit divorce bill - The Guardian

On Monday, the Guardian quotes the UK government sources dismissing report that the UK is prepared to pay up to EUR 40bln for Brexit divorce bill, as
Dhwani Mehta / FX Street   |   Mon, 7 Aug 2017 06:33:01

Günther Oettinger: UK must pay EU until 2020 despite Brexit

'Very unlikely' EU will hand over remainder of promised €4.3B in aid to Turkey by 2020, commissioner for budget also said.
Connor Murphy / Politico   |   Mon, 7 Aug 2017 06:22:36

UK prepared to pay up to EUR 40bln for Brexit divorce bill - Telegraph

The Telegraph quoted three sources familiar with the negotiations on Sunday, noting that the UK officials are considering a plan to pay upto EUR 40 bi
Dhwani Mehta / FX Street   |   Mon, 7 Aug 2017 05:48:22

Brexit 'Divorce Bill' Of £36 Billion Rejected By Tory Eurosceptics

function Britain could reportedly pay up to £36 billion to the European Union in a so-called Brexit divorce bill. Tory Eurosceptics have insisted that the UK should not pay the fee following suggestions the Government might be prepared to offer the sum as part of a deal. Whitehall sources have ...
Kathryn Snowdon / Huffington Post   |   Sun, 6 Aug 2017 15:42:14

There Is No Brexit Divorce Bill, The €40 Billion Will Be Paid Even If We Stay

Rather than a Brexit divorce bill this is much more akin to continuing to pay the housekeeping while a divorce is negotiated.
Tim Worstall, Contributor / Forbes   |   Sun, 6 Aug 2017 14:42:00