Brexit

[admin]

How many of you in the UK are ready for Brexit?

How do you think it will all go down?

[Money & Finance]

• Britain and the EU would agree to a preliminary Brexit deal 

But that last one is just what went down yesterday. UK Prime Minister Theresa May called an emergency cabinet meeting today to discuss the proposal. And after May held mano-a-minister meetings with cabinet members last night, she'll be hoping for their support on game day.

Remember: Uncertainty over what Brexit would actually look like has put businesses on edge. A Brexit without a deal in place could be a disaster, clogging ports and draining supplies. Cadbury has even stockpiled chocolateprepping for the worst case scenario. 

So that's why this is a big deal. But the process is far from over. First, May will need to get approval from her cabinet...and then get the agreement through a skeptical Parliament. Deal or no deal, Britain's scheduled to leave the EU March 29 next year.

[admin]

Negotiating Brexit. 

It was a chaotic week for negotiations

• UK Prime Minister Theresa May announced a preliminary agreementwith the EU that laid out the terms of Brexit. That deal earned her cabinet's approval.
• But many in government aren't on board. Two high-ranking ministers resigned (causing the pound to drop), and the deal faces an uphill battle in Parliament. 

Tying it all together: As the March 29 deadline zooms closer and UK officials drop like flies, a "no deal" Brexit seems like a real possibility. 

That's scaring companies

One of the benefits of membership in the EU (besides early bird check-in) is the "Single Market," which allows goods and services to move between countries without being bothered by regulatory hurdles. 

But...if the UK leaves the EU before working out a trade agreement, walls would come back up. And visions of a "Day After Tomorrow"-like scenario, complete with clogged ports and trucks stuck in traffic waiting for customs inspections, are keeping multinational execs up at night. 

Let's make it real with a few examples:

• BMW is stockpiling parts, warehouse space, and parking lots for its Mini brand (which is produced in England) in case its supply chain grinds to a halt, per the WSJ. 
• The NYT describes how the flower trade, a global operation spanning from Kenya to the Netherlands to the UK, relies on a "continuous, unimpeded flow of goods." Brexit "looms like a giant speed bump."

Zoom out: While a "no deal" Brexit might eventually be averted, just the possibility that it might happen is already disrupting business operations and causing anxiety over global trade.

[TheWorldNewsOrg]

France demands UK climate pledge in return for Brexit trade deal https://t.co/6ip1imvagp

— Guardian news (@guardiannews) November 17, 2018

via .ORG

World News

[admin]

Spanish Government and UK Government reach an agreement on Gibraltar whereby Spain lift the veto on the vote on Brexit on Sunday, supported by European Comissionand European Council and accepting the demands of Pedro Sánchez.