Theresa May | - Part 2

Merkel Upends United Kingdom Skeptics and Comes to May’s Aid on Brexit

LONDON (Capital Markets in Africa) – German Chancellor Angela Merkel offered Theresa May the political cover she’s been asking for to take further steps in Brexit talks, calling on both sides to move so that a deal can be reached by year-end. The U.K. prime minister, who was upbeat about the prospect of reaching a good deal, offered a shade more clarity on the divorce bill and said negotiating teams would continue to hash out the details. “We’re going…

BT Chairman Pushes for Brexit Transition Deal of Up to a Decade

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Prime Minister Theresa May is struggling to make headway in Brussels securing a two-year trade transition after Brexit. Now, she faces a call to push for as much as a decade. Two years isn’t enough to transpose legislation and regulation from the European Union and negotiate new treaties, BT Group Plc Chairman Mike Rake said Friday in an interview on Bloomberg TV. Businesses need five to 10 years access to the single market and customs union,…

Theresa May’s Dinner With Juncker Yields No Signs of Brexit Progress

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LAGOS (Capital Markets in Africa) – United Kingdom Prime Minister Theresa May’s attempt to unblock stalled Brexit talks by traveling to Brussels to see European Commission President Jean-Claude Juncker yielded little, with both sides issuing a statement that entrenched their previous stances. May made the journey, after calls to German Chancellor Angela Merkel and France’s Emmanuel Macron, to try to break a deadlock that has some senior ministers in her team doubtful that the rest of the European Union even wants a deal. European…

U.K. Is Said to See Brexit Breakdown Without EU Compromise

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LAGOS (Capital Markets in Africa) – Brexit negotiations are heading for a catastrophic breakdown unless the European Union signals this week that it will allow talks to move on to trade, according to a person familiar with the U.K. government’s position. Without a clear sign, that negotiations will progress to trade and transition arrangements by December at this week’s summit of EU leaders, the entire Brexit process will be in danger of collapse — and senior…

UK banks to check 70m bank accounts in search for illegal immigrants

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LONDON (Capital Markets in Africa) – Banks and building societies are to carry out immigration checks on 70m current accounts from January in the biggest extension of Theresa May’s plans to create a “hostile environment” for illegal immigrants in Britain, the Guardian has learned. The Home Office expects to identify 6,000 visa overstayers, failed asylum seekers and foreign national offenders facing deportation in the first year of the checks, which are to be carried out quarterly….

Britain Votes as Narrowing Polls Indicate These Five Scenarios

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LONDON (Capital Markets in Africa) – Polls are open and voting is underway in a U.K. election dominated by Brexit, austerity and in the closing phases, security. The first indications of the result will come at 10 p.m. London time, when broadcasters will release an exit poll. While such surveys have generally been accurate in the past, they are not precise and the final result will not be known until Friday morning. Prime Minister Theresa May called the snap election to…

OECD Sets Out an Economic To-Do List for Next U.K. Government

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LONDON (Capital Markets in Africa) – As campaigning comes to a close before Thursday’s U.K. election, the Organization for Economic Cooperation and Development has issued a list of priorities for the next government. In its latest global outlook, the OECD says the U.K.’s exposure to international trade has helped the economy, but some industries have suffered and jobs have been lost. It also warned that poorer regions, reliant on manufacturing and agricultural exports, are “exposed to…

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