All the day’s economic and financial news, as sterling is buffeted by the latest political drama in Westminster Pound hit by no-confidence talkReports that 40 Tory MPs would sign a letterSterling has shed almost a cent to $1.309What the experts sayFull story: May faces defeat by MPs demanding meaningful vote on final Brexit deal 1.54pm GMT Brexit uncertainty seems to be hitting Europe’s stock markets.The main EU indices are down around 1%, as the rise in the euro against the pound hits the value of exporters.There are mounting pressures in the funding of UK defence programmes and this has resulted in the UK MoD pausing, cancelling or delaying numerous programmes. 1.47pm GMT Investors around the world will be watching the House of Commons, as the EU Withdrawal Bill debate resumes this week.Wolf Piccoli of Teneo Intelligence says the government needs to be nimble to avoid defeat on one of the many (many!) amendments.Given the large number of amendments tabled, the government of PM Theresa May will have to tread carefully to avoid defeat. The most controversial proposal will likely only be decided at a later stage: a final say for Westminster on the EU exit deal.May might have to accept such a vote, but regardless, the offer from Brussels will likely be a take-it-or-leave-it deal.EU (Withdrawal) Bill – latest list from the clerks to MPs this morning reveals there are now 471 amendments tabled to it. Yes, 471. Surely a record. Continue reading…
Via: Pound falls below .31 as pressure mounts on Theresa May over Brexit – business live
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