Edition:
United Kingdom

The road to Brexit

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UK's huge current account deficit set to stay larger for longer

LONDON Britain's current account deficit, the largest of the world's major economies, is no longer on course to narrow significantly over the next five years, putting sterling at risk of a further big fall, according to government experts.

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Irish opposition leader says PM's party preparing for election

DUBLIN The party of Irish Prime Minister Leo Varadkar appears to be preparing for an imminent general election, the head of the opposition Fianna Fail party said on Friday.

Irish election likely after opposition submits no-confidence motion

DUBLIN An Irish general election appeared likely after opposition party Fianna Fail submitted a motion of no confidence on Friday in the deputy prime minister, which the ruling party considers a breach of a three-year agreement to support prime minister Leo Varadkar's government.

Irish PM's party says government deal dead if opposition submits confidence motion

DUBLIN The deal propping up the Irish government will be dead if opposition party Fianna Fail submits a motion of no confidence in the deputy prime minister before a 1100 deadline, Employment minister Regina Doherty said on Friday.

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Paddy Power enlivens FTSE, housebuilders fall

LONDON British shares on Friday ended Black Friday just slightly lower, with Paddy Power leading winners against a strong pound, which was poised to rise for a third consecutive week amid growing hopes that Brexit talks could bear fruits next month.

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EU banks have cut exposure to Britain since Brexit vote

LONDON Banks on mainland Europe have cut their exposures to Britain since the Brexit vote last year and are concerned about the legality of cross-border deals once the UK leaves, the European Union's banking watchdog said on Friday.

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France cuts cost of sacking traders to lure banks post-Brexit

PARIS The French parliament has approved measures to cut the cost of sacking traders by excluding their bonuses from compulsory redundancy payouts, in a move aimed at luring banks' trading activities to Paris as Britain leaves the European Union.

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Spotlight on RBS in Bank of England stress test

LONDON The Bank of England will publish stress test results for seven of Britain's major banks on Tuesday, which will put the spotlight on Royal Bank of Scotland now the government has revived plans to sell its majority stake.

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Barnier reassures Ireland EU stands with Dublin on Brexit

BRUSSELS European Union Brexit negotiator Michel Barnier assured Ireland's foreign minister on Friday that the EU would defend Dublin's position in talks with Britain over the coming weeks.

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UK says has constructive relationship with Ireland, will focus on Brexit progress

LONDON Britain has a constructive relationship with Ireland and will focus on making progress on Brexit negotiations, Prime Minister Theresa May's spokesman said on Friday.

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Ireland trying to force Northern Ireland to stay in customs union after Brexit - DUP

LONDON Ireland is trying to force the United Kingdom, or at least Northern Ireland, to remain in the customs union after Brexit as it suits their national interest, the deputy leader of the province's Democratic Unionist Party said on Friday.

Ship insurer UK P&I Club sets up Netherlands hub due to Brexit

LONDON Specialist ship insurer UK P&I Club plans to set up a subsidiary in the Netherlands as a result of Britain's decision to leave the European Union, it said on Friday.

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Irish foreign minister says opposition vote would bring down government

DUBLIN Ireland's government will collapse if the opposition Fianna Fail party proceeds with its plan to vote for the resignation of the Deputy Prime Minister Frances Fitzgerald on Tuesday, Foreign Minister Simon Coveney said.

Ireland's Fianna Fail party says will be election if Deputy PM does not resign

DUBLIN Ireland's second-largest party Fianna Fail, which helps prop up the government, indicated on Friday it would force an election if the country's deputy prime minister does not resign over a policing scandal.

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New UK forecasts confirm slide against euro zone

LONDON Britain's budget forecasters cut the country's economic outlook on Wednesday, confirming a widening gap with the resurgent euro zone.