Italy's financial problem is 'self-made,' says CEPS director

The director of the Centre for European Policy Studies told CNBC Italy’s fiscal difficulty is its own government’s fault. He said despite political tension, the euro zone would only become stronger. Italy has until the end of Tuesday to submit an amended version of its 2019 draft budget, after the European Commission rejected its original submission. Italy’s financial turmoil is […]

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Dollar hovers near 16-month high, yen pares intraday gains

The dollar held close to a 16-month high against a basket of peers. The Euro and British pound saw a partial recovery after seeing declines yesterday. The dollar traded slightly below a 16-month high versus a basket of peers on Tuesday, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown. Investor confidence […]

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EU's Barnier said Brexit treaty text almost ready – FT

LONDON, Nov 12 (Reuters) – The European Union’s chief Brexit negotiator has said the main elements of an exit treaty text are ready to present to the British cabinet on Tuesday, the Financial Times reported, citing unidentified diplomats briefed on the discussions. Michel Barnier told ministers from the EU’s remaining 27 member states that “the parameters of a possible agreement […]

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Four UK ministers on verge of quitting, EU rejects latest plan-Sunday Times

LONDON, Nov 10 (Reuters) – Four British ministers who back remaining in the European Union are on the verge of quitting Prime Minister Theresa May’s government over Brexit, the Sunday Times reported. The newspaper also said that the European Union had rejected May’s plan for an independent mechanism to oversee Britain’s departure from any temporary customs arrangement it agrees. Brexiteers […]

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Brexit deal to be published next week, draft timetable cited by Times reporter

LONDON, Nov 8 (Reuters) – The United Kingdom’s Brexit deal with the European Union will be published on Tuesday after the cabinet reviews the deal on Monday, according to a draft timetable being discussed in London, the deputy political editor for The Times said. “Under one draft timetable discussed in Whitehall today: Cabinet likely Monday,” Sam Coates said. Brexit Secretary […]

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EU Brexit envoy says 'much more work' needed to clinch deal

European Chief Negotiator for the United Kingdom Exiting the European Union, French Michel Barnier and Bulgarian Prime Minister Boyko Borisov, right, at the European People’s Party (EPP) congress in Helsinki, Finland, Thursday, Nov. 8, 2018. (Markku Ulander/Lehtikuva via AP) The European Union's Brexit negotiator on Thursday said that gaps remain to be bridged in talks on the U.K.'s departure from […]

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EU executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS (Reuters) – The European Union’s competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler (DAIGn.DE) and BMW (BMWG.DE) to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes […]

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