Brexit

Europe's space agency braces

Paris - Muslimchronicle

The European Space Agency (ESA) is drawing up contingency plans for projects, commercial deals, and staffing that may be adversely affected by Brexit, senior officials said Wednesday. Programmes throw in flux by Britain's pending departure from the European Union (EU) include the Copernicus satellite constellation to monitor environmental damage, and the Galileo satellite navigation system. "It is not an easyRead more

Brexit special trade agreement possible

Paris - Muslimchronicle

Emmanuel Macron has said Britain can secure the bespoke Brexit trade deal Theresa May wants, but warned there would be a trade off. The French President said giving the UK’s financial services full access to the single market without accepting its rules was “not feasible”. He also said that while he respected the result of the June 23 referendum, he would “love” toRead more

Brexit could cost nearly 500,000 UK jobs

London - Muslimchronicle

Britain’s exit from the European Union could cost the UK almost 500,000 jobs and nearly 50 billion pounds ($68 billion) in investment by 2030, according to a study commissioned by the mayor of London. In a worst-case scenario, Britain would lose 482,000 jobs and 46.7 billion pounds ($62.9 billion) in investments in the next 12 years, according to research publishedRead more

London house prices in first annual fall since 2009

London - AFP

The average price of a home in London dropped in 2017 for the first time in eight years on fallout from Brexit, data showed on Thursday. While prices were up nationwide, they were down in London for the first time since 2009, mortgage lender Nationwide calculated. UK house prices rose by 2.6 percent overall last year -- slower than the 4.5Read more

EU says Brexit transition should end December 31, 2020

Brussels - Muslimchronicle

The European Commission said Wednesday that the Brexit transition period, during which the EU's rules will still apply to Britain as it quits, should last from when Britain leaves the bloc in March 2019 until the end of 2020. "The transitional arrangements should apply as from the date of entry into force of the Withdrawal Agreement and should not lastRead more

May wins Brexit boost, but bigger battles await

London - Muslimchronicle

After a turbulent few months when some predicted she could be gone by Christmas, British Prime Minister Theresa May finally has some good news with a deal on Brexit -- but any reprieve will likely be short-lived. The EU's decision Friday to move to the next stage of negotiations with Britain was a much-needed success for May, whose leadership hasRead more

May hails 'important step' after EU leaders unlock Brexit talks

Brexit - Muslimchronicle

British Prime Minister Theresa May welcomed a decision by EU leaders in Brussels on Friday to open crucial talks on a post-Brexit relationship with Britain and thanked the European Commission and EU presidents. "Today is an important step on the road to delivering a smooth and orderly Brexit and forging our deep and special future partnership," May said on Twitter,Read more

EU leaders approve start of next phase of Brexit talks

Brussels - Muslimchronicle

EU leaders on Friday approved the opening of the next stage of Brexit talks after reaching a deal on divorce terms with Britain, EU President Donald Tusk said. "EU leaders agree to move on to the second phase of Brexit talks. Congratulations PM @theresa_may", Tusk tweeted. source: AFPRead more

Britons feeling the pinch

London - Muslimchronicle

Stagnant wages and Brexit-spiked inflation are hitting young Britons hard, an expert who resigned in protest from a government body last month told AFP, as new data showed the country was feeling the pinch. Workers' average weekly earnings adjusted for inflation fell 0.4 percent year-on-year from August to October 2017 -- an erosion of purchasing power. "The impact of fallingRead more

Mutiny in the ranks: May's weakness in five points

LONDON - Muslimchronicle

A rebellion in Britain's Parliament over Brexit legislation spells trouble ahead for Prime Minister Theresa May as she heads to an EU summit Thursday (Dec 14), hobbled by divisions within her party. May took over after the 2016 Brexit referendum and called a general election in June, hoping to strengthen her hand in the negotiations with Europe. However, the gambleRead more