Conservative and Unionist Parties to pick Next PM. Theresa May to leave PM Office next week

Gravitas: With May's Exit, What Happens to Brexit?

A group of 19 Catholic priests and academics have appealed to bishops to declare <a href="https://www.wionews.com/world/pope-appeals-for-evacuation-of-refugees-in-libya-camps-214149">Pope Francis </a>a heretic, in the latest ultra-conservative broadside against the pontiff over a range of topics from communion for the divorced to religious diversity.

The most prominent of the group is Father Aidan Nichols, a 70-year-old British priest of the Dominican order who has written many books and is one of most recognised theologians in the English-speaking world. The others are less well known.

"We take this measure as a last resort to respond to the accumulating harm caused by <a href="https://www.wionews.com/world/pope-francis-urges-libya-peace-return-of-refugees-to-syria-212319">Pope</a> Francis's words and actions over several years, which have given rise to one of the worst crises in the history of the Catholic Church," they said in a 20-page open letter.

The letter attacks Francis for allegedly softening the Church's stance on a range of subjects. They say he has not been outspoken enough against abortion and has been too welcoming to homosexuals and too accommodating to Protestants and Muslims.

It was published on Tuesday by LifeSiteNews, a conservative Catholic website that often is a platform for attacks on the pope. Last year, it ran a document by the Vatican's former ambassador to Washington, Archbishop Carlo Maria Vigano, calling on the pope to resign.

A Vatican spokesman had no comment on the letter, which includes dozens of footnotes, Bible verses, pronouncements by previous popes, and a separate bibliography. The letter invites people to join an on-line signature drive.

Addressing the bishops, the letter says "We therefore request that your Lordships urgently address the situation of Pope Francis's public adherence to heresy."

It asks them to "publicly to admonish Pope Francis to abjure the heresies that he has professed".

A significant part of the letter concentrates on "Amoris Laetitia" (The Joy of Love), a 2016 papal document that is a cornerstone of Francis' attempt to make the 1.3 billion-member Church more inclusive and less condemning.

ULTRA CONSERVATIVES TAKE AIM

In it, Francis called for a Church that is less strict and more compassionate towards any "imperfect" members, such as those who divorced and later remarry in civil ceremonies.

Under Church law they cannot receive communion unless they abstain from sex with their new partner, because their first marriage is still valid in the eyes of the Church, unless they have received an annulment. The Church does not allow divorce.

Francis has opened the door to some exceptions, allowing the decision whether the person can be fully re-integrated and receive communion to be made by a priest or bishop jointly with the individual on a case-by-case basis.

After Amoris Laetitia was published, four conservative publicly challenged the pope, accusing him of sowing confusion on important moral issues. He has thus far not responded to their demands that he clear up their doubts.

The new letter lists pages of what it calls "Evidence for Pope Francis being guilty of the delict (crime) of heresy".

It attacks him for having once said that the intentions of Martin Luther, the father of the Protestant Reformation, "were not mistaken". It says he has not condemned abortion strongly enough and is too lenient with homosexual Catholics.

The letter criticised Francis for signing a joint statement with Lutherans in 2016 in which the pope said Catholics were grateful for the "theological gifts" of the Reformation.

It also attacked the pope for a common statement with a prominent Muslim leader in Abu Dhabi in February which said that the pluralism and diversity of religions was "willed by God". Conservatives say the Roman Catholic Church is the only true one and that members are called to convert others to it.

The letter launches personal attacks on 22 people, nearly all of them current or past Church figures, asserting that their association with the pope supports their accusation of heresy.

A group of 19 Catholic priests and academics have appealed to bishops to declare Pope Francis a heretic, in the latest ultra-conservative broadside against the pontiff over a range of topics from communion for the divorced to religious diversity.

A group of 19 Catholic priests and academics have appealed to bishops to declare Pope Francis a heretic, in the latest ultra-conservative broadside against the pontiff over a range of topics from communion for the divorced to religious diversity. The most prominent of the group is Father Aidan Nichols, a 70-year-old British priest of the Dominican order who has written many books and is one of most recognised theologians in the English-speaking world. The others are less well known. "We take this measure as a last resort to respond to the accumulating harm caused by Pope Francis's words and actions over several years, which have given rise to one of the worst crises in the history of the Catholic Church," they said in a 20-page open letter. The letter attacks Francis for allegedly softening the Church's stance on a range of subjects. They say he has not been outspoken enough against abortion and has been too welcoming to homosexuals and too accommodating to Protestants and Muslims. It was published on Tuesday by LifeSiteNews, a conservative Catholic website that often is a platform for attacks on the pope. Last year, it ran a document by the Vatican's former ambassador to Washington, Archbishop Carlo Maria Vigano, calling on the pope to resign. A Vatican spokesman had no comment on the letter, which includes dozens of footnotes, Bible verses, pronouncements by previous popes, and a separate bibliography. The letter invites people to join an on-line signature drive. Addressing the bishops, the letter says "We therefore request that your Lordships urgently address the situation of Pope Francis's public adherence to heresy." It asks them to "publicly to admonish Pope Francis to abjure the heresies that he has professed". A significant part of the letter concentrates on "Amoris Laetitia" (The Joy of Love), a 2016 papal document that is a cornerstone of Francis' attempt to make the 1.3 billion-member Church more inclusive and less condemning. ULTRA CONSERVATIVES TAKE AIM In it, Francis called for a Church that is less strict and more compassionate towards any "imperfect" members, such as those who divorced and later remarry in civil ceremonies. Under Church law they cannot receive communion unless they abstain from sex with their new partner, because their first marriage is still valid in the eyes of the Church, unless they have received an annulment. The Church does not allow divorce. Francis has opened the door to some exceptions, allowing the decision whether the person can be fully re-integrated and receive communion to be made by a priest or bishop jointly with the individual on a case-by-case basis. After Amoris Laetitia was published, four conservative publicly challenged the pope, accusing him of sowing confusion on important moral issues. He has thus far not responded to their demands that he clear up their doubts. The new letter lists pages of what it calls "Evidence for Pope Francis being guilty of the delict (crime) of heresy". It attacks him for having once said that the intentions of Martin Luther, the father of the Protestant Reformation, "were not mistaken". It says he has not condemned abortion strongly enough and is too lenient with homosexual Catholics. The letter criticised Francis for signing a joint statement with Lutherans in 2016 in which the pope said Catholics were grateful for the "theological gifts" of the Reformation. It also attacked the pope for a common statement with a prominent Muslim leader in Abu Dhabi in February which said that the pluralism and diversity of religions was "willed by God". Conservatives say the Roman Catholic Church is the only true one and that members are called to convert others to it. The letter launches personal attacks on 22 people, nearly all of them current or past Church figures, asserting that their association with the pope supports their accusation of heresy.

Conservatives want Catholic bishops to declare pope a heretic

A top member of Prime Minister Theresa May’s Conservative Party will tell her in the coming week that she must step down by the end of June or her lawmakers will try again to depose her, the Sunday Times reported, without citing sources.

May survived a vote of no confidence in December and although party rules mean lawmakers cannot challenge her again until a year has passed, lawmaker Graham Brady will tell her the rules will be changed unless she quits, the newspaper said.

Brady, who chairs the Conservative Party’s influential 1922 Committee of backbench lawmakers, will tell her that 70 percent of her members of parliament want her to resign over her handling of Brexit, the Sunday Times said.

Britain was originally due to leave the European Union on March 29, but that deadline was pushed back to April 12 and then again to Oct. 31 as May failed to break an impasse in parliament on the terms of Brexit.

A top member of Prime Minister Theresa May’s Conservative Party will tell her in the coming week that she must step down by the end of June or her lawmakers will try again to depose her, the Sunday Times reported, without citing sources.

A top member of Prime Minister Theresa May’s Conservative Party will tell her in the coming week that she must step down by the end of June or her lawmakers will try again to depose her, the Sunday Times reported, without citing sources. May survived a vote of no confidence in December and although party rules mean lawmakers cannot challenge her again until a year has passed, lawmaker Graham Brady will tell her the rules will be changed unless she quits, the newspaper said. Brady, who chairs the Conservative Party’s influential 1922 Committee of backbench lawmakers, will tell her that 70 percent of her members of parliament want her to resign over her handling of Brexit, the Sunday Times said. Britain was originally due to leave the European Union on March 29, but that deadline was pushed back to April 12 and then again to Oct. 31 as May failed to break an impasse in parliament on the terms of Brexit.

UK PM May to be told to quit by top Conservative: Report

President Donald Trump has stepped up his drive to fill courts across the <a href="http://www.wionews.com/world/us-senate-heads-to-final-vote-on-kavanaugh-supreme-court-nomination-169893">United States with conservative judges</a> in an effort to woo voters on the right ahead of the midterm congressional elections.

Coming off his success in appointing two judges strongly aligned with Republican ideology to the Supreme Court, Trump is duplicating that move in federal circuit and district courts -- the next two levels in the US justice system.

"I have been there less than two years and I have two of them," Trump boasted in an election rally on Monday in Texas, referring to Neil Gorsuch and Brett Kavanaugh, the conservative justices who have tilted the Supreme Court strongly toward the right.

"We have a record number of circuit court judges for the time we have been in office," he added. "We expect to go to the all-time record."

The US Constitution empowers the president to make lifetime appointments of judges to all three levels of federal courts, where nearly 900 judges serve. Each needs to be confirmed by the Senate, however.

Since taking office in January 2017, Trump has obtained the confirmation of 84 federal judges, compared to 43 in the same period for his predecessor, Democrat Barack Obama.

Trump has nominated some 50 more, who are awaiting the Senate's green light.

Trump's former White House counsel Don McGahn said they have consciously chosen some of the most conservative people possible for the positions.

"Some folks that are kind of too hot for prime-time," he described them. "The kind of people that make some people nervous."

Impact already felt&nbsp;

Democrats are angry, but have been powerless to do anything about it because they are a minority in the Senate.

The senior Democrat on the Judiciary Committee, Dianne Feinstein, pointed out that her committee was the only one holding hearings before the midterms.&nbsp;

"Republicans are breaking every norm to stack the courts with young, ideological nominees who will undermine the rights and protections of all Americans for generations to come," she said.

And Democratic Senator Kamala Harris said in a tweet, "The Trump Administration is trying to pack the courts for years to come. We will fight this."

If Republicans retain control of the Senate in the November midterm elections as expected, Trump could have the opportunity to fill another 150 vacant posts over the next two years.

The new judges are already having an impact on US society, for instance by shooting down a complaint on racial discrimination in the workplace, and supporting the removal of limits to election campaign donations, both positions backed by Republicans.

"I think it's a huge thing," Attorney General Jeff Sessions said last week. "We can feel a difference in some of the circuits (appeals courts) already."

Trump calls the effort a major achievements of his presidency.

"These appointments are going to be one of the most important things, if not the most important thing, we do," he said.

Election issue

Ahead of the November 6 election -- in which Republicans are fighting to retain control of the two chambers of Congress -- Trump's judicial appointments are galvanizing conservative voters.

Evangelical Christians and traditional conservatives were originally skeptical of billionaire Trump, given his record of political opportunism and seeming agnosticism.

But he won their support in the 2016 presidential election by promising to appoint a committed conservative to the Supreme Court who would oppose abortion and support broad gun ownership rights.

The opportunity to stack the courts with conservatives was greater than usual when he took office: for the previous two years, Republicans in Congress had blocked dozens of Obama's nominees, leaving 107 judgeships vacant.

The Republican Senate quickly began confirming Trump's court picks. Even in their fervor, however, they did not get everyone through: one candidate withdrew when his legal shortcomings became evident; another was dropped after his former writings in support of the Ku Klux Klan were brought to light.

Unprecedented power grab'

With Republicans worried they could lose their majority in the November 6 vote, they have bent the rules in Congress to accelerate confirmations.

Fifteen were approved in one day in mid-October just ahead of the Senate going on break.

And even while it is officially in recess for the election, the Senate Judiciary Committee continues to hold confirmation hearings with nominees, angering Democrats.

"It is an unprecedented power grab that flies in the face of Senators' constitutional duty to advise and consent on judicial nominees and makes a mockery of our Constitution and justice system," said Jill Dash, vice president of the liberal-leaning American Constitution Society. 
&nbsp;

President Donald Trump has stepped up his drive to fill courts across the United States with conservative judges in an effort to woo voters on the right ahead of the midterm congressional elections.

President Donald Trump has stepped up his drive to fill courts across the United States with conservative judges in an effort to woo voters on the right ahead of the midterm congressional elections. Coming off his success in appointing two judges strongly aligned with Republican ideology to the Supreme Court, Trump is duplicating that move in federal circuit and district courts -- the next two levels in the US justice system. "I have been there less than two years and I have two of them," Trump boasted in an election rally on Monday in Texas, referring to Neil Gorsuch and Brett Kavanaugh, the conservative justices who have tilted the Supreme Court strongly toward the right. "We have a record number of circuit court judges for the time we have been in office," he added. "We expect to go to the all-time record." The US Constitution empowers the president to make lifetime appointments of judges to all three levels of federal courts, where nearly 900 judges serve. Each needs to be confirmed by the Senate, however. Since taking office in January 2017, Trump has obtained the confirmation of 84 federal judges, compared to 43 in the same period for his predecessor, Democrat Barack Obama. Trump has nominated some 50 more, who are awaiting the Senate's green light. Trump's former White House counsel Don McGahn said they have consciously chosen some of the most conservative people possible for the positions. "Some folks that are kind of too hot for prime-time," he described them. "The kind of people that make some people nervous." Impact already felt Democrats are angry, but have been powerless to do anything about it because they are a minority in the Senate. The senior Democrat on the Judiciary Committee, Dianne Feinstein, pointed out that her committee was the only one holding hearings before the midterms. "Republicans are breaking every norm to stack the courts with young, ideological nominees who will undermine the rights and protections of all Americans for generations to come," she said. And Democratic Senator Kamala Harris said in a tweet, "The Trump Administration is trying to pack the courts for years to come. We will fight this." If Republicans retain control of the Senate in the November midterm elections as expected, Trump could have the opportunity to fill another 150 vacant posts over the next two years. The new judges are already having an impact on US society, for instance by shooting down a complaint on racial discrimination in the workplace, and supporting the removal of limits to election campaign donations, both positions backed by Republicans. "I think it's a huge thing," Attorney General Jeff Sessions said last week. "We can feel a difference in some of the circuits (appeals courts) already." Trump calls the effort a major achievements of his presidency. "These appointments are going to be one of the most important things, if not the most important thing, we do," he said. Election issue Ahead of the November 6 election -- in which Republicans are fighting to retain control of the two chambers of Congress -- Trump's judicial appointments are galvanizing conservative voters. Evangelical Christians and traditional conservatives were originally skeptical of billionaire Trump, given his record of political opportunism and seeming agnosticism. But he won their support in the 2016 presidential election by promising to appoint a committed conservative to the Supreme Court who would oppose abortion and support broad gun ownership rights. The opportunity to stack the courts with conservatives was greater than usual when he took office: for the previous two years, Republicans in Congress had blocked dozens of Obama's nominees, leaving 107 judgeships vacant. The Republican Senate quickly began confirming Trump's court picks. Even in their fervor, however, they did not get everyone through: one candidate withdrew when his legal shortcomings became evident; another was dropped after his former writings in support of the Ku Klux Klan were brought to light. Unprecedented power grab' With Republicans worried they could lose their majority in the November 6 vote, they have bent the rules in Congress to accelerate confirmations. Fifteen were approved in one day in mid-October just ahead of the Senate going on break. And even while it is officially in recess for the election, the Senate Judiciary Committee continues to hold confirmation hearings with nominees, angering Democrats. "It is an unprecedented power grab that flies in the face of Senators' constitutional duty to advise and consent on judicial nominees and makes a mockery of our Constitution and justice system," said Jill Dash, vice president of the liberal-leaning American Constitution Society.

With eye on vote, Trump stacks US courts with conservatives

Turkey`s broadcasting watchdog has fined a TV station nearly one million lira ($266,000) over footage of young girls dancing in shorts in a talent competition after viewers complained of &quot;child abuse&quot;, a board member said on Thursday. 
 
Citing moral dangers for the children, it penalised TV8 channel for footage in the &quot;Yetenek Sizsiniz&quot; (&quot;You Got Talent&quot;) programme which showed a group of girls, aged from 7 to 11, who peformed in shorts and tank tops, the board member who did not want to be named told Reuters. 
 
The move by the Turkish Radio and Television Supreme Council (RTUK) is likely to further anger government critics, who accuse President Tayyip Erdogan and his Islamist-rooted ruling AK Party of trying to roll back secularism and civil rights for minorities, gay people and women. 
 
Last year, hundreds of Turkish women marched in Istanbul to protest against violence and threats from men demanding they dress more conservatively.

RTUK ruled that the footage had violated its ethical broadcast regulations and fined the channel 2 percent of its advertising revenues, amounting almost to 1 million lira. 
 
The regulations state that &quot;programmes which contain content that could harm the physical, mental and moral development of children and youth cannot be broadcast&quot;. 
 
RTUK said in a report that it had received complaints that the channel had exploited the children in an &quot;immoral&quot; show. 
 
&quot;There were reactions from citizens for making minor children, aged 7-8, dance half-naked for ratings, amounting to child abuse,&quot; the report said. 
 
Turkey`s Family and Social Policies Ministry said the children were &quot;dancing with clothes that were not appropriate for their age and development level.&quot; 
 
Hurriyet newspaper said RTUK also fined several music channels for broadcasting a music video which it described as &quot;one tick below an erotic film.&quot; 
 
The video of the &quot;Sifir Tolerans&quot; (&quot;Zero Tolerance&quot;) song by Belgium-born singer Hadise depicts the artist in intimate scenes with her male co-star. The video includes scenes of the singer in a bed with the male actor and in a bathtub.

<iframe allow="encrypted-media" allowfullscreen="" frameborder="0" gesture="media" height="315" src="https://www.youtube.com/embed/sui9MKrDnQk" width="560"></iframe>

"Yetenek Sizsiniz" ("You Got Talent") programme showed a group of girls, aged from 7 to 11, performing in shorts and tank tops

Turkey`s broadcasting watchdog has fined a TV station nearly one million lira ($266,000) over footage of young girls dancing in shorts in a talent competition after viewers complained of "child abuse", a board member said on Thursday. Citing moral dangers for the children, it penalised TV8 channel for footage in the "Yetenek Sizsiniz" ("You Got Talent") programme which showed a group of girls, aged from 7 to 11, who peformed in shorts and tank tops, the board member who did not want to be named told Reuters. The move by the Turkish Radio and Television Supreme Council (RTUK) is likely to further anger government critics, who accuse President Tayyip Erdogan and his Islamist-rooted ruling AK Party of trying to roll back secularism and civil rights for minorities, gay people and women. Last year, hundreds of Turkish women marched in Istanbul to protest against violence and threats from men demanding they dress more conservatively. RTUK ruled that the footage had violated its ethical broadcast regulations and fined the channel 2 percent of its advertising revenues, amounting almost to 1 million lira. The regulations state that "programmes which contain content that could harm the physical, mental and moral development of children and youth cannot be broadcast". RTUK said in a report that it had received complaints that the channel had exploited the children in an "immoral" show. "There were reactions from citizens for making minor children, aged 7-8, dance half-naked for ratings, amounting to child abuse," the report said. Turkey`s Family and Social Policies Ministry said the children were "dancing with clothes that were not appropriate for their age and development level." Hurriyet newspaper said RTUK also fined several music channels for broadcasting a music video which it described as "one tick below an erotic film." The video of the "Sifir Tolerans" ("Zero Tolerance") song by Belgium-born singer Hadise depicts the artist in intimate scenes with her male co-star. The video includes scenes of the singer in a bed with the male actor and in a bathtub.

Turkish council fines TV channel over girls in shorts in talent show

London: Stock markets traded within sight of their highest levels this year on Wednesday as the prospect of stimulative economic policy across the developed world eased immediate concern over Britain&#39;s vote to leave the European Union. 
 
The swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister on Wednesday have helped fund a recovery that, aside from sterling itself, has wiped out the negative reaction to the June 23 vote. 
 
Asian markets outside Japan gained another third of a percent to come within a hair&#39;s breadth of the year&#39;s highs from April, while European shares rose 0.2 percent, on course for their fifth straight day of gains. 
 
Traders say that concerns over the economic and political impact of what promise to be torturous exit talks between London and Brussels have not gone away, but they are certainly on the back burner for a moment. 
 
U.S. stock futures showed Wall Street set to build further on record highs hit on Tuesday. Expectations that sterling&#39;s fall will help British companies has London&#39;s FTSE index at its highest since last August. 
 
&quot;This is a short term relief rally thanks to some certainty around the swift handover to a new PM,&quot; said Tobias Davis, Head of Corporate Treasury Sales at Western Union in London. 
 
&quot;The path ahead still looks incredibly challenging. Equities are only rallying thanks to negative yields across most of the curve in Swiss, German and Japanese markets. In reality, the economic landscape is deteriorating.&quot; 
 
Sterling, whose 14 percent fall made it one of the main victims of last month&#39;s referendum, hit its highest in more than a week at $1.3340. 
 
But for every blip higher for the pound at the moment there are more sellers ready to bet it will fall further in the months ahead and it quickly fell back to stand just 0.2 percent stronger on the day at $1.3280. 
 
The yen, investors&#39; go-to currency in times of market stress was also up half a percent against the euro and dollar after falling sharply on the back of Japan&#39;s move into another round of stimulative policy. 
 
The debate among currency traders around Thursday&#39;s Bank of England meeting is also now not whether it will cut interest rates but by how much -- some measure of the concern over the economy&#39;s fate for the rest of the year. 
 
&quot;I&#39;m struck at the enthusiasm of all and sundry to tell us that European and U.S. growth rates will hardly be affected by the UK post-referendum slowdown,&quot; Societe Generale&#39;s Kit Juckes said in a note to clients. 
 
&quot;That flies in the face of the increased correlation of major economies&#39; growth rates in an ever more connected world.&quot; 
 
Stimulus 
In commodities, oil prices dropped after industry group American Petroleum Institute (API) reported a surprise build of 2.2 million barrels in US crude stockpiles last week. [O/R] 
 
Brent crude futures fell 1.6 percent to $47.71 after surging roughly 5 percent on Tuesday on broad improvement in risk sentiment. 
 
Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending, as expected, after an election victory on Sunday. His meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of &quot;helicopter money&quot; policies - printing money and directly handing it to the private sector to stimulate the economy - fuelled speculation that some of the stimulus plan could be funded by Bank of Japan easing. 
 
The European Central Bank is also widely expected to take a dovish stance when it holds its policy review a week later. 
 
&quot;After being faced with the prospect of a major slowdown in global activity in the wake of the Brexit vote, governments and central banks worldwide are now expected to do their utmost to reassure markets and provide stimulus,&quot; wrote Angus Nicholson, market analyst at IG in Melbourne. 
 
(Reuters)

Swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister have helped fund a recovery

London: Stock markets traded within sight of their highest levels this year on Wednesday as the prospect of stimulative economic policy across the developed world eased immediate concern over Britain's vote to leave the European Union. The swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister on Wednesday have helped fund a recovery that, aside from sterling itself, has wiped out the negative reaction to the June 23 vote. Asian markets outside Japan gained another third of a percent to come within a hair's breadth of the year's highs from April, while European shares rose 0.2 percent, on course for their fifth straight day of gains. Traders say that concerns over the economic and political impact of what promise to be torturous exit talks between London and Brussels have not gone away, but they are certainly on the back burner for a moment. U.S. stock futures showed Wall Street set to build further on record highs hit on Tuesday. Expectations that sterling's fall will help British companies has London's FTSE index at its highest since last August. "This is a short term relief rally thanks to some certainty around the swift handover to a new PM," said Tobias Davis, Head of Corporate Treasury Sales at Western Union in London. "The path ahead still looks incredibly challenging. Equities are only rallying thanks to negative yields across most of the curve in Swiss, German and Japanese markets. In reality, the economic landscape is deteriorating." Sterling, whose 14 percent fall made it one of the main victims of last month's referendum, hit its highest in more than a week at $1.3340. But for every blip higher for the pound at the moment there are more sellers ready to bet it will fall further in the months ahead and it quickly fell back to stand just 0.2 percent stronger on the day at $1.3280. The yen, investors' go-to currency in times of market stress was also up half a percent against the euro and dollar after falling sharply on the back of Japan's move into another round of stimulative policy. The debate among currency traders around Thursday's Bank of England meeting is also now not whether it will cut interest rates but by how much -- some measure of the concern over the economy's fate for the rest of the year. "I'm struck at the enthusiasm of all and sundry to tell us that European and U.S. growth rates will hardly be affected by the UK post-referendum slowdown," Societe Generale's Kit Juckes said in a note to clients. "That flies in the face of the increased correlation of major economies' growth rates in an ever more connected world." Stimulus In commodities, oil prices dropped after industry group American Petroleum Institute (API) reported a surprise build of 2.2 million barrels in US crude stockpiles last week. [O/R] Brent crude futures fell 1.6 percent to $47.71 after surging roughly 5 percent on Tuesday on broad improvement in risk sentiment. Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending, as expected, after an election victory on Sunday. His meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of "helicopter money" policies - printing money and directly handing it to the private sector to stimulate the economy - fuelled speculation that some of the stimulus plan could be funded by Bank of Japan easing. The European Central Bank is also widely expected to take a dovish stance when it holds its policy review a week later. "After being faced with the prospect of a major slowdown in global activity in the wake of the Brexit vote, governments and central banks worldwide are now expected to do their utmost to reassure markets and provide stimulus," wrote Angus Nicholson, market analyst at IG in Melbourne. (Reuters)

Brexit, what Brexit? Global shares near 2016 highs

British leadership contender Andrea Leadsom said the UK could pull out of the European Union as early as next year following last week&#39;s referendum vote to leave the bloc. 
 
In an interview with the Sunday Telegraph, Leadsom said she had a fast-track policy for leaving and that only someone who had herself voted to leave the EU could be trusted to take the country out of Europe. 
 
Limited extracts of the interview, without direct quotes on her comments about the timing of an exit, were released by the paper on Saturday. 
 
Leadsom, 53, has emerged as the top pro-Brexit contender to succeed Prime Minister David Cameron as leader of the ruling Conservative party, according to newspapers. 
 
The front runner, interior minister Theresa May, was a supporter of the campaign to stay in the EU, which some political analysts believe may count against her. 
 
The newspaper quoted Leadsom, who is expected to announce her candidacy on Monday, as saying she admired the leadership qualities and toughness of former Conservative leader Margaret Thatcher who drove notoriously hard bargains with EU leaders during her time in office in the 1980s. 
 
&quot;I think that&#39;s an ideal combination and I do like to think that&#39;s where I am,&quot; she said. 
 
Cameron said he would resign following voters&#39; rejection of his campaign to stay in the EU, and lawmakers have to whittle down the five contenders to replace him to just two before Conservative party members take a final vote, expected in early September. 
 
(Reuters)

Leadsom has emerged as the top pro-Brexit contender to succeed Prime Minister David Cameron as leader of the ruling Conservative party

British leadership contender Andrea Leadsom said the UK could pull out of the European Union as early as next year following last week's referendum vote to leave the bloc. In an interview with the Sunday Telegraph, Leadsom said she had a fast-track policy for leaving and that only someone who had herself voted to leave the EU could be trusted to take the country out of Europe. Limited extracts of the interview, without direct quotes on her comments about the timing of an exit, were released by the paper on Saturday. Leadsom, 53, has emerged as the top pro-Brexit contender to succeed Prime Minister David Cameron as leader of the ruling Conservative party, according to newspapers. The front runner, interior minister Theresa May, was a supporter of the campaign to stay in the EU, which some political analysts believe may count against her. The newspaper quoted Leadsom, who is expected to announce her candidacy on Monday, as saying she admired the leadership qualities and toughness of former Conservative leader Margaret Thatcher who drove notoriously hard bargains with EU leaders during her time in office in the 1980s. "I think that's an ideal combination and I do like to think that's where I am," she said. Cameron said he would resign following voters' rejection of his campaign to stay in the EU, and lawmakers have to whittle down the five contenders to replace him to just two before Conservative party members take a final vote, expected in early September. (Reuters)

PM contender Leadsom says UK could leave EU next year

Seven members of Britain&#39;s opposition Labour Party said on Sunday they had withdrawn support for the leadership of Jeremy Corbyn, plunging the party into crisis in the wake of Britain&#39;s vote to leave the European Union. 
 
Corbyn sacked Hilary Benn as Labour&#39;s foreign policy chief today after he said he had lost confidence in the leadership. Gloria de Piero, Heidi Alexander, Lucy Powell and Ian Murray all announced they were withdrawing support and stepping down from Corbyn&#39;s &#39;shadow cabinet&#39;. 
 
Sky News television reported that Lilian Greenwood and Kerry Mccarthy had also resigned. 
 
Several said in statements that they doubted Corbyn&#39;s ability to lead the party to victory in the country&#39;s next parliamentary election. 
 
A vote must take place within months after Conservative Prime Minister David Cameron announced on Friday he would step down by October after Britain voted to leave the European Union. 
 
(Reuters)

Gloria de Piero, Heidi Alexander, Lucy Powell and Ian Murray announced they were withdrawing support and resigning from shadow cabinet

Seven members of Britain's opposition Labour Party said on Sunday they had withdrawn support for the leadership of Jeremy Corbyn, plunging the party into crisis in the wake of Britain's vote to leave the European Union. Corbyn sacked Hilary Benn as Labour's foreign policy chief today after he said he had lost confidence in the leadership. Gloria de Piero, Heidi Alexander, Lucy Powell and Ian Murray all announced they were withdrawing support and stepping down from Corbyn's 'shadow cabinet'. Sky News television reported that Lilian Greenwood and Kerry Mccarthy had also resigned. Several said in statements that they doubted Corbyn's ability to lead the party to victory in the country's next parliamentary election. A vote must take place within months after Conservative Prime Minister David Cameron announced on Friday he would step down by October after Britain voted to leave the European Union. (Reuters)

Seven of Labour withdraw support from Corbyn

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