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September 23, 2019

A fragmented future awaits a United Kingdom

Britain is being humiliated internationally because of Brexit – and there might be worse to come. There is now a clear possibility that Britain as…

Boris Johnson’s deceit maketh the man

Boris for PM offers succour north of the Border

May resigns – and Johnson is waiting in the wings

A changing climate boosts the political divide

Brexit: A path to yes through a forest of no

Leadership, or the sad lack of it

5G, Huawei and a technology tipping point

Brexit is now all about the art of the possible

January 10, 2019

Brexit reality: the UK is part of Europe

A shallow stretch of water between mainland Europe and mainland UK does not separate the United Kingdom from the consequences of what happens in Europe….

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DUP says it cannot support Boris Johnson’s deal
The Democratic Unionist party is threatening to scupper the Brexit deal that Boris Johnson is on the brink of agreeing with the EU. On the morning of a crucial EU summit in Brussels, a joint statement from the DUP’s leader, Arlene Foster, and her deputy, Nigel Dodds, explicitly says the party cannot support the deal that is close to being finalised. The pound fell 0.5 per cent against the dollar and the euro within minutes of the announcement. The DUP statement said: “As things stand, we could not support what is being suggested on customs and consent issues, and there is a lack of clarity on VAT.” The statement will come as blow to the prime minister, who hopes to bring back a deal from the Brussels meeting and then secure the backing of parliament in a rare Commons vote pencilled in for Saturday. The Guardian, October 17

Legal bid at Court of Session to stop MPs debating Brexit deal planned
Anti-Brexit campaigners are considering launching a legal bid to stop the UK government from putting its proposed withdrawal agreement before Parliament. They believe it contravenes legislation preventing Northern Ireland forming part of a separate customs territory to Great Britain. MPs are due to debate the agreement at a special Commons sitting on Saturday. Campaigner Jo Maugham QC initially announced plans to petition Scotland’s highest civil court on Thursday. He later tweeted to say he would “pause and reflect and take soundings from those I trust” before going to court at 12:00. If Mr Maugham goes ahead with the legal challenge, he expects it to be heard at the Court of Session in Edinburgh on Friday. BBC news, October 17

MP quits Labour and says Corbyn is dangerous
A Jewish Labour MP has quit the party after more than half a century, accusing Jeremy Corbyn of being a danger to Britain. Dame Louise Ellman, 73, told The Times that she had been “deeply troubled for a long time” by the “growth of antisemitism in the Labour Party” under the leader and by his inability to deal with it. The expected election had forced her to act as she could not tell her constituents to vote him in as prime minister. The Times, October 17

Putin to carve up Syria after Erdogan snubs US
President Putin is to oversee the carving up of northern Syria, as President Erdogan snubbed a US intervention yesterday and sought Russia’s help to end the crisis caused by his incursion. Mr Erdogan will travel to Moscow to meet Mr Putin before the end of the month to discuss his war with the Syrian Kurds. Those talks will come before his planned meeting with President Trump on November 13. According to Sergey Lavrov, the Russian foreign minister, the Moscow meeting will address the task of “ensuring the sovereignty and territorial integrity of the Syrian Arab Republic while carrying on the fight against remaining terrorist groups”. The Times, October 17

Rising debt levels ‘risk global crisis’
Britain and other advanced economies are sitting on a corporate debt timebomb that could trigger another global financial crisis, the International Monetary Fund has warned. Companies would be unable to cover basic interest costs on $19 trillion of debt in the event of a material economic slowdown, raising the prospect of widescale defaults that could become the corporate equivalent of the subprime mortgage crisis. This time the debt is not held by banks but in the shadow banking sector, which is made up of insurers, pension funds and asset managers that are beyond the regulatory reach of the central banks. The Times, October 17

Scotch whisky takes to the skies to beat tariffs
Distilleries have taken to flying their whisky across the Atlantic in a rush to get bottles into the US before Donald Trump’s trade tariffs take effect. Scotch usually arrives in the US by sea since its weight makes air freight too costly. There is normally no need to hurry either as there is with fresh produce such as salmon, another of Scotland’s big exports. But 25 per cent tariffs, which barring a last-minute U-turn are due to be imposed from Friday, have prompted some producers to take to the skies. They include Kilchoman, a distillery on the famous whisky-producing island of Islay. Anthony Wills, Kilchoman’s founder, sent about 3,000 bottles by aeroplane this month. Financial Times, October 17

‘12,000’ Asda staff face sack in contract dispute
Approximately 12,000 Asda workers are currently facing the sack next month for refusing to sign controversial new contracts, a source has told Sky News. It is understood all staff who fail to sign the agreement by a 2 November deadline will be dismissed unless the supermarket chain backs down. Workers who have snubbed the contract are currently serving notice periods but can yet change their minds. Asda said on Wednesday that the “vast majority” of over 100,000 people affected by the new contract had signed on the dotted line.The retailer was yet to respond to Sky News’ request for a comment about the scale of the crisis. Sky news, October 17

Culture secretary opens door to making BBC subscription service
The BBC could be made to scrap the TV licence and charge a Netflix-style fee, the culture secretary has suggested. Nicky Morgan has opened the door to the BBC becoming a subscription service, saying she was “open-minded” about a change if it would raise enough revenue for the corporation. Giving evidence to the Commons digital, culture, media and sport select committee, Ms Morgan was asked by the Tory MP Julian Knight: “The BBC moving to a subscription service is being floated as a potential policy for the next Conservative manifesto. What is your view?” … “I am open-minded and I will listen to evidence on all sides,” she said. The Times, October 17

Hong Kong’s rich open foreign bank accounts
Thousands of Hong Kong’s wealthy residents are opening bank accounts in Singapore and other financial centres, as they make contingency plans to protect themselves against a prolonged period of unrest in the territory. UBS, HSBC, Pictet and Credit Suisse are among the banks to have had a sharp increase in Hong Kong customers opening overseas accounts, according to people familiar with the matter. The trend has accelerated as the mass protests over Beijing’s threat to Hong Kong’s independence continue for a fourth month, they say. One European bank has seen a rise in account openings, but less than 1 per cent of deposits held by its Hong Kong customers have actually moved, according to an executive briefed on the matter. “Hong Kong’s loss is Asean’s gain,” they said. Financial Times, October 16

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