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Brexit

May presses on with Brexit vote as lawmakers demand better deal

LONDON: Theresa May will push ahead with a crucial vote on her European Union exit deal, her Brexit minister said on Sunday, as senior lawmakers in her own party piled pressure on the British prime minister to go back to Brussels and seek a better offer. May’s deal, which would see Britain keep close economic ties with the EU, looks set to be rejected by parliament on Tuesday. That decision could throw plans for Britain’s exit into turmoil and leave her own political future hanging in the balance. The Sunday Times reported…

UK government, Bank of England to spell out no-deal Brexit risks for economy

LONDON: The British government and the Bank of England are likely to step up their warnings on Wednesday of a hit to the economy from a no-deal Brexit, potentially helping Prime Minister Theresa May tackle deep opposition to her plan. Barely four months before Britain is due to leave the European Union, May has failed to get much of her own Conservative Party behind the agreement sealed with EU leaders on Sunday, leaving open the possibility of a no-deal Brexit. BoE Governor Mark Carney and finance minister Philip…

Britain will head into unknown if Brexit deal is rejected: May

LONDON:  Prime Minister Theresa May warned on Monday that Britain would be thrust into the unknown if parliament rejects the Brexit deal she has negotiated with the European Union, as members of parliament from all sides lined up to criticise the agreement. Under the deal secured with EU leaders on Sunday, Britain will leave the bloc in March with continued close trade ties, but the odds now look stacked against May getting it approved by a divided British parliament. As May tried to win over her critics, MPs from both…

EU leaders to sign off historic Brexit deal

European Union leaders meet Sunday to approve a historic Brexit deal, which British Prime Minister Theresa May said would deliver her country a "brighter future". At a special summit in Brussels that was almost derailed by a row over Gibraltar, the other 27 leaders will gather to sign off the agreement before May joins them to mark the milestone. Forged during 17 months of tough negotiations, the deal covers financial matters, citizens' rights, Northern Ireland and a transition phase, and sets out hopes for future…

PM May faces parliamentary ‘war of attrition’ to deliver Brexit

LONDON: Prime Minister Theresa May’s trial by parliament to deliver on her Brexit plan is only just beginning. Between now and March 29, when Britain leaves the European Union, she faces dozens of make-or-break votes in a parliament split into myriad factions, many of which have only one thing in common: their loathing of her divorce deal with Brussels. Attention is focussed on the ‘meaningful vote’, expected in mid-December, when the 650-seat lower House of Commons decides whether to accept or reject the agreement…

Who has submitted letters of no confidence in UK PM May?

LONDON: Some lawmakers in Prime Minister Theresa May’s Conservative Party have said they have submitted letters of no confidence in the British leader. A leadership challenge is triggered if 48 Conservatives write such letters to the chairman of the party’s so-called 1922 committee, Graham Brady. May could be toppled if 158 of her 315 lawmakers vote against her. Brady has not said how many letters have been submitted. It is not clear how he would announce any vote. Lawmakers do not have to reveal publicly whether…

UK Supreme Court says will consider government appeal in Brexit reversal case

LONDON: Britain’s Supreme Court said on Friday it would consider whether to hear an appeal from the British government which wants to stop Europe’s top court from examining a case seeking to determine whether the country can unilaterally reverse Brexit. Scotland’s Court of Session ruled last week that the government could not prevent the European Court of Justice hearing the case on Nov. 27. However, the government has now asked the Supreme Court for permission to appeal that decision. “The court is aware of the…

‘I’m going to see this through’: UK PM May vows to fight for Brexit deal

LONDON: British Prime Minister Theresa May vowed to fight for her draft divorce deal with the European Union on Thursday after the resignation of her Brexit secretary and other ministers put her strategy and her job in peril. Just over 12 hours after May announced that her cabinet had agreed to the terms of the deal, Brexit minister Dominic Raab and work and pensions minister Esther McVey resigned. Eurosceptics in May’s Conservative Party said they had submitted letters calling for a vote of no confidence in her…

My deal, no deal or no Brexit, May says after winning ministers’ backing

LONDON: British Prime Minister Theresa May won the backing of her senior ministers for a draft European Union divorce deal on Wednesday, freeing her to tackle the much more perilous struggle of getting parliament to approve the agreement. More than two years after the United Kingdom voted in a referendum to leave the EU, May told reporters outside her Downing Street residence that she had won over her divided cabinet, which includes some senior Brexiteers. “The collective decision of cabinet was that the government…

Asian markets tumble as geopolitical fears set in

Asian markets plunged on Tuesday as geopolitical risks pile up, from US tensions with Russia and Saudi Arabia, to trade issues and Italy's budget stand-off with the European Union. Hong Kong lost more than three per cent to wipe out its gains from the previous two trading days, while Shanghai and Tokyo were more than two per cent off. The losses brought an end to a rally that was fuelled by China's top brass issuing coordinated statements of support for the country's markets and officials unveiling tax cut plans.…