European Union to propose limited market access for UK-based banks

BRITAIN-EU-POLITICS-BREXIT

BRITAIN-EU-POLITICS-BREXIT

Firms across the EU's 27 countries other than the United Kingdom will have to pay £31 billion a year in tariff and nontariff barriers if the United Kingdom leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said.

European Union chief Jean-Claude Juncker warned that Britain will "regret" Brexit today as he drew battle lines for trade negotiations.

A former prime minister of ex-Soviet Latvia, Dombrovskis did not elaborate.

Mr Juncker told MEPs in Strasbourg there was "increasing urgency" to negotiate the UK's withdrawal from the EU.

Britain would be free to impose some new sanctions, for example denying entry to Russian individuals, but would be very limited in its ability to, say, bar more Russian imports as European Union trade policy is centralised in Brussels and will remain so, probably, for a couple years after Brexit in March 2019.

China lawmakers abolish presidential term limits
China's parliament voted today to abolish presidential term limits , clearing the path for President Xi Jinping to rule for life. However, if the policies are not right for China, there's no much to be done.

Barnier also urged British Prime Minister Theresa May to speed up the Brexit negotiations and define her vision for the future relationship between the country and the 27 remaining member states.

The UK must find a solution to the Irish-border issue if Brexit talks are to continue, the European Union has warned.

Juncker said that without a plan to avoid a hard border, the "backstop" of in effect keeping Northern Ireland in the customs union and single market had to remain.

Jean-Claude Juncker was speaking during a debate on Brexit in the European Parliament this morning ahead of a vote on future UK EU relations tomorrow.

The EU is seeking to be exempted from planned USA import duties of 25 percent on steel and 10 percent on aluminum, but says Washington has not made clear how the exemption process works.

Met Opera fires conductor Levine after "credible evidence" of misconduct
Cleary, now a partner at Proskauer Rose, to head its investigation, and the company said more than 70 people were interviewed. The Met says claims its management or board had covered up information of Levine's conduct were unsubstantiated.

"The feedback from the financial sector itself is that they are prepared, they are realistic not to take too much risk as their duty is to serve their clients", Katainen said.

"After Brexit there is a big discontinuity in all the trade and services, but we still have a large market and it's supposed to be an interesting opportunity for all the financial institutions", Katainen said. "For us this is not an Irish issue, it is a European issue", he said.

Financial services firms would suffer the biggest hit because, unlike some automotive and aerospace firms that can switch to domestic suppliers of components, they will have to set up new operations in the European Union to continue serving clients.

"I recommend that we keep a close eye on the regulatory divergence, this dumping", he said, warning that it could become a key obstacle if Britain wants to get a smooth exit from the EU.

RS polls: BJP to announce candidate this evening
The Congress's decision to field a candidate in Telangana is surprising as it is in not a position to win a seat. Ketkar, a veteran Marathi journalist and a staunch BJP critic, will fight on a Congress ticket from Maharashtra.

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