Wall Street regulations need a facelift, not a makeover

Wall Street regulations need a facelift, not a makeover

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  1. Wall Street regulations need a facelift, not a makeover  Finance and Commerce
  2. Trump signs the biggest rollback of bank rules since the financial crisis  CNBC
  3. Dodd-Frank Financial Regulation ‘Rolled Back,’ Not Repealed  The 401(k) Specialist (blog)
  4. A rare bipartisan moment allows a timid rollback of banking regulation  The Economist
  5. Trump signs law rolling back post-financial crisis banking rules  Washington Post
  6. Full coverage

May 25, 2018 at 03:41AM

Brexiteer MPs blast PM for delaying Brexit vote until after Labour by-election

Brexiteer MPs blast PM for delaying Brexit vote until after Labour by-election

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THERESA May has been blasted for risking the narrowest of defeats on Brexit by delaying a key Commons showdown until after a Labour by-election.

Brexiteer MPs are livid with the PM for not putting the landmark EU Withdrawal Bill to a fresh vote in the week beginning June 4.

 

 PM Theresa May's decision to not put the landmark EU Withdrawal Bill to a fresh vote in the week beginning June 4 and risking defeat on Brexit has angered Brexiteer MPs

EPA

PM Theresa May’s decision to not put the landmark EU Withdrawal Bill to a fresh vote in the week beginning June 4 and risking defeat on Brexit has angered Brexiteer MPs

It was expected that MPs would be asked to throw out 15 Lords amendments that enforce a soft Brexit as soon as they return from their half-term break in 10 days’ time.

But Commons Leader Andrea Leadsom has ruled out that week, and refused to pin down any other date.

Labour will now have time to bolster their ranks by one, with the Lewisham East by-election on June 14 bound to return a new Labour MP to the ultra safe seat, after Heidi Alexander stepped down.

Every vote will count in the knife-edge showdown, which is shaping up to be the biggest Brexit vote yet.

 Commons Leader Andrea Leadsom has ruled out the week when MPs return from their half-term break and is refusing to set any other date

Rex Features

Commons Leader Andrea Leadsom has ruled out the week when MPs return from their half-term break and is refusing to set any other date

In the biggest threat to Mrs May, pro-EU Tory rebels are again expected to join forces with Labour and the SNP to try to force the government to stay in the Customs Union.

One fuming Brexiteer told The Sun: “Why risk any further slippage which could then needlessly bring another Labour MP into the lobby against you?

“It’s just piss poor politics.

“No10’s mismanagement of the parliamentary party is off the chart loopy.”

The week beginning June 11 has been pencilled in by No10 for the votes, which could last for more than two weeks if the Lords play ping pong and keep blocking a ‘clean’ bill.

Theresa May’s Brexit customs partnership plan all-but dead after Michael Gove savages it

No10 loyalists fear a defeat to keep Britain in a customs union with the EU would collapse her entire Brexit negotiation, and could end up torpedoing Mrs May’s Premiership.

The number of Tory EU rebels has grown since 11 voted with Labour in December to defeat the government by four, and enforce a meaningful vote on the final deal.

Rebel leaders have told The Sun that they are confident of at least 15 Tories defying Mrs May on some of the Lords amendments.

As The Sun revealed yesterday, the Chief Whip was dubbed a “bedwetter” by one Cabinet minister for running scared of the Commons.

The Commons Brexit Committee yesterday said the UK may be forced to remain in the customs union beyond 2020 because of the Government’s failure to set out alternative plans.

 

There has been ‘no significant progress’ on Brexit since March says EU’s chief negotiator Ekaterina Zakharieva

British Pork Finds New Market in China as Brexit Looms

British Pork Finds New Market in China as Brexit Looms

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Exports of British pork to China have almost quadrupled since the Asian nation started allowing the shipments in 2012 to meet increasing demand. The world’s biggest consumer of the meat now accounts for almost a fifth of U.K. exports, and it’s likely to become more important as the U.K. seeks new markets while Brexit talks drag on. “With Brexit uncertainty surrounding future trade between the U.K. and EU, it is crucial for the U.K. to find and exploit as many opportunities presented in the Far East,” said Jonathan Eckley, head of exports for Asia-Pacific at the Agricultural and Horticultural Development Board.

May 25, 2018 at 02:16AM

Varadkar says time running out to table ‘reasonable’ Brexit proposals

Varadkar says time running out to table ‘reasonable’ Brexit proposals

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Ireland will examine “reasonable” proposals from the British government on how to avoid a hard border after Brexit, but time is running out for such measures to be tabled, Taoiseach Leo Varadkar has said.

Mr Varadkar repeated the Irish Government’s position that there must be progress on the so-called Irish Border “backstop” by the next meeting of the European Council in late June.

The backstop – which would ensure no divergence in customs and trade rules between the Republic and Northern Ireland without agreed solutions on how to avoid a hard border – was agreed in principle in December, although the UK has rejected the EU’s legal interpretation of it.

The UK and EU are due to agree a Withdrawal Agreement, including the Irish “backstop”, by October.

Mr Varadkar was speaking after a meeting in Dublin on Thursday with Belgian prime minister Charles Michel. Mr Michel had earlier visited the Louth-Down Border with Minister for Business Heather Humphreys.

‘New thinking’

Before Mr Michel travelled to Dublin, he met with British prime minister Theresa May in London on Wednesday. It is understood he told Mrs May that Britain should remain in the customs union after Brexit.

Mr Varadkar met Mrs May at an EU summit in Sofia last week, where the Taoiseach said he had been given some insights into “new thinking” from Britain on future customs arrangements.

However, he said on Thursday he had yet to see any firm proposals from London.

The Taoiseach again said Ireland would not accept “any physical infrastructure or any associated checks or controls” on the Border, but did not rule out technological solutions that would not need physical infrastructure.

“Any reasonable person is willing to examine reasonable proposals,” he said, adding that he would look at proposals that were the “same or better” than what has been outlined in the backstop.

Suggestions

However, the Taoiseach would not be drawn on suggestions of the UK remaining aligned to the European customs union for an extended, but time-limited period while it worked out how to avoid a hard border by using technology.

“We don’t yet have firm proposals,” the Taoiseach said. “We are very much in the space where we need legal text…we need to see significant, substantial progress on the text of the backstop before the June European Council, which is now only five weeks away.”

After their meeting Mr Varadkar and Mr Michel went to the Lincoln Inn pub in Lincoln Place, near Government Buildings, for a drink.

May 25, 2018 at 01:06AM