jeremy corbyn
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FILE PHOTO: Dollar, Euro and Pound banknotes are seen in this picture illustration taken April 28, 2017. REUTERS/Dado Ruvic/Illustration
April 4, 2019
By Tomo Uetake
TOKYO (Reuters) – The euro held firm against the dollar on Thursday as hopes of a trade deal between the United States and China bolstered risk appetite globally, while the British pound was buoyed after the UK parliament approved legislation to seek a Brexit delay.
The euro was last up 0.1 percent against the U.S. dollar at $1.1246. The single currency had fallen to its lowest levels in more than three weeks on Tuesday and neared $1.1177, which, if broken, would send the currency to its weakest level since June 2017.
The safe-haven yen touched a two-week low of 111.575 yen to the dollar late on Wednesday. The pair last quoted at 111.425 yen.
Trade talks between the United States and China made “good headway” last week in Beijing and the two sides aim to bridge differences during talks that could extend beyond three days this week, White House economic adviser Larry Kudlow said.
He said China had recognized problems for the first time during the talks that the United States has raised for years, referring to intellectual property theft, forced transfer of technology from U.S. companies doing business in China and others.
Sterling gained on Wednesday as Prime Minister Theresa May sought a Brexit compromise with opposition leader Jeremy Corbyn in a last-ditch effort to end a national crisis.
The lower house of the British parliament on Wednesday approved legislation which would force May to seek a Brexit delay to prevent a potentially disorderly departure on April 12 without a deal.
The pound last stood at $1.3180, up 0.2 percent on the day.
“On the whole, there is a risk-on mood in the market. Upticks in Chinese data and headlines on progress in U.S.-China trade talks are behind this sentiment,” said Kyosuke Suzuki, director of forex at Societe Generale.
“But the market has already priced in expectations that Washington and Beijing will soon reach a deal, so it’s questionable how much further currencies can move.”
U.S. economic data published on Wednesday fell short of market expectations, hindering the U.S. dollar.
Services sector activity hit a more than 19-month low in March and private payrolls grew less than expected, underscoring a loss of momentum in the economy that supports the Federal Reserve’s move to suspend interest rate hikes this year.
The reports on Wednesday came on the heels of some modestly upbeat data earlier in the week, including retail and motor vehicle sales and manufacturing. Investors are worried about a sharp slowdown in economic growth in the first quarter.
(Reporting by Tomo Uetake; Additional reporting by Hideyuki Sano; Editing by Sam Holmes)
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European Commission Vice President Frans Timmermans holds a news conference after the weekly college meeting in Brussels, Belgium, April 3, 2019. REUTERS/Francois Lenoir
April 3, 2019
BERLIN (Reuters) – The European Union cannot keep delaying Britain’s departure from the bloc by another two weeks, the deputy head of the European Commission said in remarks published on Thursday.
First Vice President Frans Timmermans told Germany’s Die Welt newspaper that the European Union had reached the limit of what it can offer Britain in terms of concessions to break the deadlock.
“We cannot forever continue this way in the Brexit negotiations and always extend by two weeks,” he said. “The British parliament must now make a decision and finally say what London wants.”
He added: “The key is not with London. We have a commitment toward EU citizens, to protect the EU single market, to protect Ireland and protect the principles of the European Union.
“We will continue to do this with all determination. The EU also has its limits. And we have reached those limits.”
He said it was important that British Prime Minister Theresa May and Labour leader Jeremy Corbyn reach a deal to overcome the deadlock created by parliament’s rejection of an exit deal May had reached with the EU.
At a summit last week, EU leaders gave Britain effectively until next week either to ratify May’s deal and then exit by May 22, present a credible alternative plan to secure a much longer extension, or leave without a deal on April 12.
Timmermans said that, in the event of a no-deal Brexit, British citizens were unlikely to need a visa if they wished to visit the EU for a short period of time.
(Reporting by Joseph Nasr; Editing by Kevin Liffey)
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Britain’s opposition Labour Party leader Jeremy Corbyn speaks in Parliament, following the vote on extending Brexit negotiating period in London, Britain, March 14, 2019, in this screen grab taken from video. Reuters TV via REUTERS
April 3, 2019
LONDON (Reuters) – Britain’s defense ministry said on Wednesday it had launched an investigation into a video circulating on social media apparently showing soldiers using a picture of opposition Labour party leader Jeremy Corbyn for target practice.
The video, posted on Snapchat, shows four paratroopers firing shots at the picture with the caption “happy with that”.
“We are aware of a video circulating on social media,” an Army spokesperson said. “This behavior is totally unacceptable and falls well below the high standards the Army expects. A full investigation has been launched.”
A Labour spokesman called the behavior alarming and unacceptable but said the party was confident the Army would investigate and act on the incident.
The soldiers have been widely criticized by lawmakers.
“I’m shocked obviously that this sort of thing has happened,” Corbyn said. “I hope the Ministry of Defense will conduct an inquiry into it and find out what was going on and who did that.”
(Reporting by Rachel Cordery; editing by Stephen Addison/Guy Faulconbridge)
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British opposition Labour Party leader Jeremy Corbyn leaves his home in London, Britain, April 3, 2019. REUTERS/Henry Nicholls
April 3, 2019
By William Schomberg and James Davey
LONDON (Reuters) – British Prime Minister Theresa May will meet opposition leader Jeremy Corbyn on Wednesday to thrash out a Brexit compromise, a gamble that could finally see a European Union divorce deal agreed but also tear her party apart.
After her EU withdrawal deal was rejected three times by lawmakers, with parliament and her Conservative Party hopelessly divided over Brexit, May said on Tuesday she would reach out to Corbyn in a bid to break the impasse.
The United Kingdom was supposed to leave the EU last Friday, but three years after Britons backed leaving the bloc in a referendum, it is still unclear how, when or even if it will do so.
May has been unable to persuade a hardcore eurosceptic group of own lawmakers to back the divorce agreement she struck with the EU because they argued it did not provide a decisive break with Europe.
Her decision to seek another short delay to the current Brexit date of April 12 and turn instead for support from Labour, which wants to stay in a customs union with the EU, may make a “soft” Brexit more likely – one that keeps Britain’s economy closely aligned to the world’s biggest trading bloc.
Sterling rose on Wednesday over hopes for a “softer” Brexit, hitting its highest level since March 28.
“I personally think a customs union is highly undesirable,” Brexit Secretary Stephen Barclay told BBC radio.
“It is regrettable that what we have been saying for several months now is coming to pass, but that is the remorseless logic of not backing the prime minister’s deal.”
May’s decision to approach Corbyn, a veteran socialist deeply disliked by many Conservatives and mocked by May herself as unfit to govern, still leaves many questions unanswered.
She did not spell out how long a delay to Brexit she wanted, merely saying it should be “as short as possible and which ends when we pass a deal”. She has repeatedly said she did not want an extension which would see Britain having to take part in elections to the European Parliament on May 23.
European Council President Donald Tusk said the bloc should be patient with Britain as May tries to find a way forward but it was not certain how European leaders would view her request.
As it stands, Britain will still leave the EU on April 12 without a deal, something many Conservative lawmakers would like to happen but a scenario businesses fear could wreak chaos and cause huge economic damage.
A cross-party group of British lawmakers will try on Wednesday try to rush through legislation in parliament to make such an outcome impossible.
WHAT DOES LABOUR WANT?
Ahead of their talks, May and Corbyn said there would be no preconditions, but the leaders might well struggle to find a compromise position that can satisfy their own parties.
“This isn’t a blank cheque,” Barclay said.
The Conservatives have been divided over Europe for three decades, leading to the demise of three former prime ministers, David Cameron, John Major and Margaret Thatcher.
But Labour is far from united itself. Corbyn, who voted against joining the bloc in 1975, has previously set out a series of demands he wanted May to agree to before he would back her deal.
“Labour has put forward our proposals to ensure there is a customs union with the EU, access to vital markets and protections of our standards of consumer, environmental and workers’ rights,” he said on Tuesday.
However, many Labour supporters want the party to throw its weight behind a second referendum, while some Labour lawmakers, who represent areas that voted strongly to leave the EU, are fearful that they will be viewed as betraying such traditional voters if they do not strongly back Brexit.
IT’S A TRAP
“I thought momentarily last night May’s ‘offer’ might be genuine,” said one pro-EU Labour lawmaker Bradshaw.
“Having heard Barclay…it is clearly a trap designed to try to get May’s terrible deal through, which some people have fallen for, but Labour mustn’t,” he wrote on Twitter.
It is also unclear where May’s last-ditch attempt to get a Brexit deal through will ultimately leave her minority government.
She had already promised to step down if her withdrawal agreement was passed by parliament, although that failed to persuade all her lawmakers to back her, and her overture to Corbyn has alienated some Conservatives still further.
“She needs to take a long look in the mirror and for the good of our country, our democracy and the Conservative Party she needs to go now,” lawmaker Andrew Bridgen told Sky News.
The Democratic Unionist Party, the small Northern Irish party on whose support May relies on to govern, were also wary of her plans.
“It remains to be seen if sub-contracting out the future of Brexit to Jeremy Corbyn, someone whom the Conservatives have demonised for four years, will end happily,” the Democratic Unionist Party (DUP) said in a statement following May’s change of strategy.
(Additional reporting by Elisabeth O’Leary and David Milliken; Writing by Michael Holden; Editing by Angus MacSwan)
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Badges and other items are seen at a newspapers vendor’s stand in Westminster in London, Britain, April 3, 2019. REUTERS/Peter Nicholls
April 3, 2019
LONDON (Reuters) – Conservative lawmaker Nigel Adams said on Wednesday he has resigned as a minister for Wales after Prime Minister Theresa May offered talks with the leader of the opposition Labour Party, Jeremy Corbyn, to break the Brexit deadlock.
“It now seems that you and your cabinet have decided that a deal – cooked up with a Marxist who has never once in his political life, put British interests first – is better than no deal,” Adams said.
Adams, who has been a minister since 2017 and was also a government whip, said in a letter to May that turning to Corbyn for assistance was “a grave error” and would lead to Britain ending up in a customs union with the EU.
(Reporting by James Davey; Editing by William Schomberg)
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FILE PHOTO – Britain’s opposition Labour Party leader, Jeremy Corbyn speaks as Britain’s Prime Minister Theresa May looks on, in Parliament in London, Britain, March 12, 2019. UK Parliament/Jessica Taylor/Handout via REUTERS
April 3, 2019
LONDON (Reuters) – Prime Minister Theresa May’s offer of talks with the opposition Labour Party leader Jeremy Corbyn to break the Brexit deadlock is a trap, Labour lawmaker Ben Bradshaw said on Wednesday.
May said on Tuesday she would seek another Brexit delay to agree an EU divorce deal with Corbyn, a last-ditch attempt to break an impasse over Britain’s departure that enraged many in her party.
“I thought momentarily last night May’s ‘offer’ might be genuine,” Bradshaw said on Twitter.
“Having heard (Brexit minister Stephen) Barclay on @BBCr4today it is clearly a trap designed to try to get May’s terrible deal through, which some people have fallen for, but Labour mustn’t,” he said.
(Reporting by James Davey; Editing by William Schomberg)
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British opposition Labour Party leader Jeremy Corbyn leaves his home in London, Britain, April 3, 2019. REUTERS/Henry Nicholls
April 3, 2019
LONDON (Reuters) – Prime Minister Theresa May will not set preconditions when she begins talks aimed at breaking the Brexit deadlock with opposition Labour Party leader Jeremy Corbyn on Wednesday, her Brexit minister Stephen Barclay said.
May said on Tuesday she would seek another Brexit delay to agree an EU divorce deal with Corbyn, a last-ditch attempt to break an impasse over Britain’s departure that enraged many in her party.
“We are not setting preconditions but nor is it a blank cheque,” Barclay told BBC radio.
“What we are saying is let’s sit down, in the national interest, businesses up and down the country are saying we need to end this uncertainty, we need to respect the referendum result,” Barclay said.
The minister added that he did not personally think a customs union was desirable.
(Reporting by James Davey; editing by Elisabeth O’Leary)
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FILE PHOTO – Britain’s Shadow Secretary of State for Business, Energy and Industrial Strategy Rebecca Long-Bailey, delivers her keynote speech at the annual Labour Party Conference in Liverpool, Britain, September 25, 2018. REUTERS/Phil Noble
April 3, 2019
LONDON (Reuters) – Britain’s Labour Party will not make particular topics off-limit when its leader, Jeremy Corbyn, starts talks with Prime Minister Theresa May on reaching a Brexit compromise, a senior Labour lawmaker said on Wednesday.
“We must find common ground now and we must find that very, very quickly and that’s why Jeremy has been very clear about not setting any limitations and keeping a very open mind,” Rebecca Long-Bailey, the party’s business spokeswoman, said.
(Reporting by William Schomberg and Elisabeth O’Leary, writing by David Milliken)
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British Prime Minister Theresa May gives a news conference after a cabinet meeting following yesterday’s alternative Brexit options vote, outside Downing Street, London, Britain April 2, 2019. Jack Taylor/Pool via REUTERS
April 3, 2019
LONDON (Reuters) – British Prime Minister Theresa May is set to meet the opposition Labour Party leader Jeremy Corbyn on Wednesday to begin talks on how to break the Brexit deadlock, junior Brexit minister Robin Walker said .
Asked by Sky News if May would meet Corbyn, Walker replied: “That’s my understanding.”
“What we need to engage with here is whether there’s an agreed way forward on which they can both deliver on their manifesto promises,” he said.
(Reporting by James Davey and Elizabeth O’Leary; Editing by William Schomberg)
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British Conservative Party MP Oliver Letwin walks in Westminster in London, Britain, April 3, 2019. REUTERS/Peter Nicholls
April 3, 2019
LONDON (Reuters) – Labour Party leader Jeremy Corbyn can be trusted to work with Prime Minister Theresa May on Brexit, Conservative Party lawmaker Oliver Letwin said on Wednesday.
“I think he is somebody that we can do business with,” Letwin, the architect of a series of votes on alternatives to May’s Brexit deal, told BBC radio.
“If we can find common ground in a way that fulfils the referendum mandate, preserves jobs and security and preserves the union, we will have a way forward that when we look back on it, we will all be proud to have participated in,” he said.
(Reporting by Elisabeth O’Leary and William Schomberg; Editing by James Davey)
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