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Leaving the European Union without a trade deal would cost Britain at least $16 billion in lost EU sales, and probably far more after accounting for indirect effects and other markets, a report by the U.N. trade agency UNCTAD said on Tuesday. “UNCTAD’s research indicates that a no-deal Brexit will result in UK export losses of at least $16 billion, representing an approximate 7% loss of overall UK exports to the EU,” it said. UNCTAD said the $16 billion figure was conservative, and only took into account a rise in EU tariffs from zero to the basic “most favoured nation” rate that it offers countries withouth preferential deals.
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Dorian is roughly 105 miles off the shore of Fort Pierce, Florida. It has maximum sustained winds of 110 miles per hour. Officials in the Bahamas say there are at least five storm-related deaths.
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Germany’s top diplomat said Tuesday his country has been working to readmit Sudan into the international economy after the military’s overthrow of autocratic President Omar al-Bashir in April amid mass protests against his three-decade rule. German Fo…
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Sudan’s new premier Tuesday called for the United States to drop his country from its state sponsors of terrorism list, insisting it was crucial to economic revival. The United States in late 2017 lifted economic sanctions that it had imposed on Sudan…
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(Bloomberg) — Russian billionaire Oleg Deripaska wants a U.S. judge to lift sanctions against him because, he claims, the U.S. Treasury Department failed to prove he acted as an agent of Russian President Vladimir Putin.The Treasury’s Office of Foreig…
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(Bloomberg) — Bank of England Governor Mark Carney is set to face tough questions on Wednesday after Parliament’s Treasury Committee named John Mann as interim chair.Mann and Carney have had colorful exchanges at committee hearings over the years. The MP previously told Carney he talks like an economist and to put his answers on the impact of a no-deal Brexit on food prices “as more of a human being.”That exchange was late last year, but it’s been a recurring theme. In 2013, just months after Carney took over the BOE, the Labour Party lawmaker asked whether the governor was selectively choosing data to politically “present a rosier picture” of the economy. In response, Carney said he was “more than mildly offended.”Mann’s appointment as Treasury Committee chair is temporary. He replaces Nicky Morgan, who left for a role in the cabinet, and an election for the role will likely take place later this month.The pro-Brexit lawmaker’s first chance to grill Carney as chair comes Wednesday, when the governor appears along with BOE chief economist Andy Haldane and fellow policy makers Jonathan Haskel and Gertjan Vlieghe.The hearing will cover the August Inflation Report as well as the U.K.’s relationship with the European Union. The session may also give the central bank the opportunity to fulfill the committee’s request for updated Brexit analysis, first released last year.While Mann, 59, has so far missed every Inflation Report hearing this year, he was present for the one on previous BOE scenarios in December 2018.At the time, he came to Carney’s defense, thanking him for the analysis, which he said was “vital as part of this country’s democracy.” He also dubbed the criticism of the governor by Brexiteer Jacob Rees-Mogg as “contemptuous of Parliament.”That was after Rees-Mogg, a former member of the Treasury Committee, responded to the scenarios by calling Carney a “second-tier Canadian politician” and accused him of failing to understand his role.Still, Mann hasn’t always been so kind to Carney. In the lead-up to the 2016 referendum, he said on Twitter that Carney is “reliant on fear factor alone” to promote the idea that banks could relocate if the country voted for Brexit.Mann’s Twitter handle says he’s “not scared to say it how it is.”To contact the reporter on this story: Jill Ward in London at [email protected] contact the editors responsible for this story: Fergal O’Brien at [email protected], Brian SwintFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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The vice president, who commuted more than two hours to a meeting, is part of a well-established pattern among prominent Republicans, who have become regular customers at Trump establishments.
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British Prime Minister Boris Johnson said on Tuesday he would obey the law, when asked by a lawmaker if his government would abide by legislation blocking a no-deal Brexit. Lawmakers are planning to seize control of parliamentary time on Wednesday to …
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The result is status quo at the top of the ACC Power Rankings for Week 2, but Louisville makes a jump.
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Opens Friday, Sep 6, 2019Movie Details Play Trailers
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A Palestinian student who was denied entry to the United States just days before he was scheduled to start classes at Harvard University has been admitted to the country. Ismail Ajjawi was on campus as classes began Tuesday, the university confirmed. …
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