Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as <a href="http://www.wionews.com/world/uk-pm-may-to-challenge-leadership-contest-says-ousting-would-delay-brexit-183454">British Prime Minister Theresa May</a> faces a no-confidence vote.

Oil prices jumped one dollar as volatility continued to grip world crude markets.

A flurry of positive developments in the tariffs stand-off between the world's top economies provided early Christmas cheer on trading floors, fuelling hopes an all-out trade war can be avoided.

In afternoon deals, Frankfurt fizzed 0.9 per cent higher, London won 1.1 per cent and Paris added 1.6 per cent.&nbsp;

The positivity spilled over from Asia, where Tokyo ended 2.2 per cent higher and Shanghai rose 0.3 per cent, while Hong Kong jumped 1.6 per cent.

"The equity markets are taking encouragement from recent reports of a potential truce in the US-China trade dispute," noted VTB Capital analyst Neil MacKinnon.

Canada on Tuesday released on bail <a href="http://www.wionews.com/world/huawei-cfo-meng-wanzhou-freed-on-bail-leaves-courthouse-183504">Meng Wanzhou</a>, chief financial officer (CFO) at Chinese telecoms giant Huawei, whose arrest last week sparked fury in Beijing and worries about a truce agreed at the G20 by Donald Trump and Xi Jinping this month.

Providing some extra support to the news of Meng's release was an interview in which Trump said he could intervene in the case if it helps seal a trade pact with China, adding: "Whatever's good for this country, I would do."

China added to market-friendly noise by saying it had agreed to cut tariffs on US autos to 15 per cent from 40 per cent -- wiping out a levy imposed earlier this year in response to US measures.&nbsp;

Investors welcomed the headlines but sounded a note of caution.

"Newsflow regarding developments in the US-China trade dispute has been notoriously erratic and positive news can quickly give way to negative news," added MacKinnon.

May no-confidence vote

The British pound meanwhile ducked as low as $1.2478 -- a level last seen in April 2017 -- in a torrid week for the Brexit-hit currency.

The latest low came as the head of a Conservative Party committee in charge of organising leadership challenges announced that May would Wednesday face a no-confidence vote over her Brexit negotiations.

The weak pound boosts London-listed multinationals whose earnings abroad are converted back into sterling, handing a fillip to the FTSE 100 shares index.

The news came after May had delayed Tuesday's parliamentary vote on her EU divorce agreement to avert a crushing defeat.

In midday deals, sterling clawed background to stand at $1.2534, up from $1.2487 late on Tuesday.

"So far sterling has played the waiting game in regards to the impending vote of no-confidence in Theresa May," noted Spreadex analyst Connor Campbell.

"If the prime minister comes out the other side with her job intact, then it takes one of the many uncertainties that have swirled around UK politics for the last few months off the table.

"If she loses, on the other hand, then well, the pound's likely going to have a very unpleasant run-in to Christmas."

Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as British Prime Minister Theresa May faces a no-confidence vote.

Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as British Prime Minister Theresa May faces a no-confidence vote. Oil prices jumped one dollar as volatility continued to grip world crude markets. A flurry of positive developments in the tariffs stand-off between the world's top economies provided early Christmas cheer on trading floors, fuelling hopes an all-out trade war can be avoided. In afternoon deals, Frankfurt fizzed 0.9 per cent higher, London won 1.1 per cent and Paris added 1.6 per cent. The positivity spilled over from Asia, where Tokyo ended 2.2 per cent higher and Shanghai rose 0.3 per cent, while Hong Kong jumped 1.6 per cent. "The equity markets are taking encouragement from recent reports of a potential truce in the US-China trade dispute," noted VTB Capital analyst Neil MacKinnon. Canada on Tuesday released on bail Meng Wanzhou, chief financial officer (CFO) at Chinese telecoms giant Huawei, whose arrest last week sparked fury in Beijing and worries about a truce agreed at the G20 by Donald Trump and Xi Jinping this month. Providing some extra support to the news of Meng's release was an interview in which Trump said he could intervene in the case if it helps seal a trade pact with China, adding: "Whatever's good for this country, I would do." China added to market-friendly noise by saying it had agreed to cut tariffs on US autos to 15 per cent from 40 per cent -- wiping out a levy imposed earlier this year in response to US measures. Investors welcomed the headlines but sounded a note of caution. "Newsflow regarding developments in the US-China trade dispute has been notoriously erratic and positive news can quickly give way to negative news," added MacKinnon. May no-confidence vote The British pound meanwhile ducked as low as $1.2478 -- a level last seen in April 2017 -- in a torrid week for the Brexit-hit currency. The latest low came as the head of a Conservative Party committee in charge of organising leadership challenges announced that May would Wednesday face a no-confidence vote over her Brexit negotiations. The weak pound boosts London-listed multinationals whose earnings abroad are converted back into sterling, handing a fillip to the FTSE 100 shares index. The news came after May had delayed Tuesday's parliamentary vote on her EU divorce agreement to avert a crushing defeat. In midday deals, sterling clawed background to stand at $1.2534, up from $1.2487 late on Tuesday. "So far sterling has played the waiting game in regards to the impending vote of no-confidence in Theresa May," noted Spreadex analyst Connor Campbell. "If the prime minister comes out the other side with her job intact, then it takes one of the many uncertainties that have swirled around UK politics for the last few months off the table. "If she loses, on the other hand, then well, the pound's likely going to have a very unpleasant run-in to Christmas."

World stocks rally on China-US trade; pound slides on UK turmoil

WION Dispatch: UK PM Theresa May faces no-confidence motion

Brexit vote delay backfires; British MPs submit no confidence letters

WION Gravitas: Brexit roadblock, Mallya extradition, India state poll results and more

Breaking News: Theresa May could postpone Brexit deal vote

The EU has already offered Britain the "best and only possible" <a href="http://www.wionews.com/world/thousands-protest-through-london-in-support-of-brexit-ahead-of-crucial-vote-182758">Brexit</a> divorce deal and will not renegotiate it, the European Commission warned Monday on the eve of a vote in the British parliament.

"Our position has not changed and as far as we're concerned the United Kingdom is leaving the European Union on the 29th of March 2019," spokeswoman Mina Andreeva told reporters.

British Prime Minister Theresa May spoke with the president of the commission, Jean-Claude Juncker, on Sunday to give him "an update on the state of play" as she prepares to take the deal to parliament.

And earlier Monday, the <a href="http://www.wionews.com/world/eu-court-rules-britain-can-revoke-brexit-unilaterally-182854">European Court of Justice</a> ruled that Britain has the unilateral right to withdraw its plan to leave the European Union if it so decides before Brexit day at the end of March.

But Andreeva said the court decision does not alter the European negotiating position.

"We have an agreement on the table that was endorsed by the EU Council in Article 50 format on the 25th of November. As president Juncker said, this deal is the best and only deal possible. We will not renegotiate," she said.&nbsp;

The EU has already offered Britain the "best and only possible" Brexit divorce deal and will not renegotiate it, the European Commission warned Monday on the eve of a vote in the British parliament.

The EU has already offered Britain the "best and only possible" Brexit divorce deal and will not renegotiate it, the European Commission warned Monday on the eve of a vote in the British parliament. "Our position has not changed and as far as we're concerned the United Kingdom is leaving the European Union on the 29th of March 2019," spokeswoman Mina Andreeva told reporters. British Prime Minister Theresa May spoke with the president of the commission, Jean-Claude Juncker, on Sunday to give him "an update on the state of play" as she prepares to take the deal to parliament. And earlier Monday, the European Court of Justice ruled that Britain has the unilateral right to withdraw its plan to leave the European Union if it so decides before Brexit day at the end of March. But Andreeva said the court decision does not alter the European negotiating position. "We have an agreement on the table that was endorsed by the EU Council in Article 50 format on the 25th of November. As president Juncker said, this deal is the best and only deal possible. We will not renegotiate," she said.

EU says it will not renegotiate Brexit deal

Breaking News: Brexit can be revoked unilaterally, says UK court

British Prime Minister Theresa May said on Thursday that any decision to extend the <a href="http://www.wionews.com/world/uks-labour-to-propose-amendment-aimed-at-avoiding-no-deal-brexit-180115">Brexit negotiating period </a>would reopen the exit deal she has agreed with the European Union, and that she would not seek any extension.

"What is clear is that any extension to Article 50, anything like that, reopens the negotiations, reopens the deal and at that point, the deal could go, frankly, in any direction," May told a parliamentary committee.

She added "what has been reinforced" by the negotiations is that the view of the European Union can be changed with a "rigorous" and "robust" defence.

The European Union's Brexit negotiator Michel Barnier told Britain on Thursday the Brexit deal the bloc agreed with Prime Minister Theresa May was the only one possible.

Barnier was speaking to a nearly-empty EU parliament chamber as the bloc awaits the verdict from London where May is trying to sell the deal to her divided parliament, which will vote on it on Dec. 11. The EU insists the Brexit accord sealed after 18 months of talks will not be renegotiated.

"Given the difficult circumstances of this negotiation and given the extreme complexity of all the issues of the British withdrawal, the deal that is on the table ... this deal is the only one and the best possible," Barnier said.

"Now is the time for ratification," he said.

British Prime Minister Theresa May said on Thursday that any decision to extend the Brexit negotiating period would reopen the exit deal she has agreed with the European Union, and that she would not seek any extension.

British Prime Minister Theresa May said on Thursday that any decision to extend the Brexit negotiating period would reopen the exit deal she has agreed with the European Union, and that she would not seek any extension. "What is clear is that any extension to Article 50, anything like that, reopens the negotiations, reopens the deal and at that point, the deal could go, frankly, in any direction," May told a parliamentary committee. She added "what has been reinforced" by the negotiations is that the view of the European Union can be changed with a "rigorous" and "robust" defence. The European Union's Brexit negotiator Michel Barnier told Britain on Thursday the Brexit deal the bloc agreed with Prime Minister Theresa May was the only one possible. Barnier was speaking to a nearly-empty EU parliament chamber as the bloc awaits the verdict from London where May is trying to sell the deal to her divided parliament, which will vote on it on Dec. 11. The EU insists the Brexit accord sealed after 18 months of talks will not be renegotiated. "Given the difficult circumstances of this negotiation and given the extreme complexity of all the issues of the British withdrawal, the deal that is on the table ... this deal is the only one and the best possible," Barnier said. "Now is the time for ratification," he said.

UK PM May says any Article 50 extension reopens the Brexit negotiations

British Prime Minister Theresa May on Tuesday rebutted US President Donald Trump's warning about the future of Anglo-American trade, saying a trade deal was possible and that work toward it was making good progress.

Trump said on Monday the agreement by which the United Kingdom will leave the European Union may make trade between Washington and London more difficult - handing ammunition to May's critics at home who want to block the Brexit deal.

With May facing a difficult battle to get parliament to approve her deal, Trump's words struck at the heart of the government's key argument for the current Brexit accord: that it would allow Britain to strike new global trade deals without abruptly shutting off access to EU markets.

Speaking at the Royal Welsh Winter Fair, where she met with farmers and manufacturers, May said that the UK would have an independent trade policy and would be able to do trade deals with countries around the rest of the world, including the U.S.

British Prime Minister Theresa May on Tuesday rebutted US President Donald Trump's warning about the future of Anglo-American trade, saying a trade deal was possible and that work toward it was making good progress.

British Prime Minister Theresa May on Tuesday rebutted US President Donald Trump's warning about the future of Anglo-American trade, saying a trade deal was possible and that work toward it was making good progress. Trump said on Monday the agreement by which the United Kingdom will leave the European Union may make trade between Washington and London more difficult - handing ammunition to May's critics at home who want to block the Brexit deal. With May facing a difficult battle to get parliament to approve her deal, Trump's words struck at the heart of the government's key argument for the current Brexit accord: that it would allow Britain to strike new global trade deals without abruptly shutting off access to EU markets. Speaking at the Royal Welsh Winter Fair, where she met with farmers and manufacturers, May said that the UK would have an independent trade policy and would be able to do trade deals with countries around the rest of the world, including the U.S.

British PM May rebuts Trump trade comments, says UK-US deal is on track

Theresa May meets top EU officials

Breaking News: EU leaders back Theresa May's Brexit deal

EU-Brexit draft deal: May needs support of 320 MPs

WION Gravitas: Theresa May's Brexit test in UK Parliament

Theresa May addresses House of Commons

British Prime Minister Theresa May on Thursday hailed a <a href="http://www.wionews.com/world/eu-uk-agree-on-draft-text-laying-out-close-post-brexit-relationship-178825">draft Brexit agreement</a> for future ties between London and Brussels as "the right deal" for Britain and said she was "determined to deliver it".

"This is the right deal for the UK," she said after updating the cabinet on the text of a declaration on post-Brexit relations agreed.

Assuring that the British sovereignty on <a href="http://www.wionews.com/world/explainer-what-you-need-to-know-about-gibraltar-in-brexit-talks-178603">Gibraltar </a>will be protected,&nbsp;May said that the Brexit negotiations were at a "critical moment" ahead of an EU summit.&nbsp;

"The negotiations are now at a critical moment," May said, adding that British sovereignty on Gibraltar -- a contentious issue ahead of the summit -- would be "protected".

The EU summit will consider the draft Brexit deal on&nbsp;Sunday alongside a draft divorce agreement struck last week.

(With inputs from AFP)

British Prime Minister Theresa May on Thursday hailed a draft Brexit agreement for future ties between London and Brussels as "the right deal" for Britain and said she was "determined to deliver it".

British Prime Minister Theresa May on Thursday hailed a draft Brexit agreement for future ties between London and Brussels as "the right deal" for Britain and said she was "determined to deliver it". "This is the right deal for the UK," she said after updating the cabinet on the text of a declaration on post-Brexit relations agreed. Assuring that the British sovereignty on Gibraltar will be protected, May said that the Brexit negotiations were at a "critical moment" ahead of an EU summit. "The negotiations are now at a critical moment," May said, adding that British sovereignty on Gibraltar -- a contentious issue ahead of the summit -- would be "protected". The EU summit will consider the draft Brexit deal on Sunday alongside a draft divorce agreement struck last week. (With inputs from AFP)

Draft Brexit agreement 'right deal for the UK': May

Watch: WION Dispatch, 22nd November, 2018

WION Dispatch: EU-Brexit deal on future ties agreed upon

EU-Brexit deal on future ties agreed upon

Breaking News: Brexit's draft deal agreed upon; subject to leaders endorsement

British Prime Minister Theresa May on Monday won support from big business for her draft Brexit deal ahead of "intense negotiations" with Brussels in the coming week.

May told the Confederation of British Industry (CBI), the UK's main business lobby group, that she was "determined to deliver" her Brexit deal as she prepares for Sunday's European Council summit to sign Britain's divorce papers.

"We now have an intense week of negotiations ahead of us," she told some 1,000 business leaders at the CBI annual conference in central London.

"During that time I expect us to hammer out the full and final details of the framework that will underpin our future relationship.

"I am confident that we can strike a deal at the Council that I can take back to the House of Commons."

The embattled premier, whose cabinet grudgingly approved her EU divorce draft last week, faces an uphill challenge to pass her deal through a sceptical parliament.

She admitted that the final phase "was always going to be the toughest."

The Brussels negotiations will finalise a parallel political declaration setting out a road-map for post-Brexit negotiations on future EU-UK ties.

'Step back from cliff-edge'

CBI chief Carolyn Fairbairn gave qualified support for May's draft deal, telling the conference that "it is not perfect, it is a compromise, but it is hard-won progress."

She earlier said that the deal would move Britain "one step away from the nightmare precipice of no deal.

"It offers that essential transitional period as a step back from the cliff-edge," she said.

Responding to reports that EU chief Brexit negotiator Michel Barnier had raised the prospect of extending the transition deal until the end of 2022, May said it was "important that we are out of the implementation period by the next general election", scheduled for May 2022.

Addressing the issue of immigration, a concern for many businesses who fear they will face skills gaps after Brexit, May promised to introduce "more streamlined application processes" that will "attract the brightest and the best from around the world".

"But the difference will be this: once we have left the EU, we will be fully in control of who comes here," she said.

"It will no longer be the case that EU nationals, regardless of the skills or experience they have to offer, can jump the queue ahead of engineers from Sydney or software developers from Delhi."

British Prime Minister Theresa May on Monday won support from big business for her draft Brexit deal ahead of "intense negotiations" with Brussels in the coming week.

British Prime Minister Theresa May on Monday won support from big business for her draft Brexit deal ahead of "intense negotiations" with Brussels in the coming week. May told the Confederation of British Industry (CBI), the UK's main business lobby group, that she was "determined to deliver" her Brexit deal as she prepares for Sunday's European Council summit to sign Britain's divorce papers. "We now have an intense week of negotiations ahead of us," she told some 1,000 business leaders at the CBI annual conference in central London. "During that time I expect us to hammer out the full and final details of the framework that will underpin our future relationship. "I am confident that we can strike a deal at the Council that I can take back to the House of Commons." The embattled premier, whose cabinet grudgingly approved her EU divorce draft last week, faces an uphill challenge to pass her deal through a sceptical parliament. She admitted that the final phase "was always going to be the toughest." The Brussels negotiations will finalise a parallel political declaration setting out a road-map for post-Brexit negotiations on future EU-UK ties. 'Step back from cliff-edge' CBI chief Carolyn Fairbairn gave qualified support for May's draft deal, telling the conference that "it is not perfect, it is a compromise, but it is hard-won progress." She earlier said that the deal would move Britain "one step away from the nightmare precipice of no deal. "It offers that essential transitional period as a step back from the cliff-edge," she said. Responding to reports that EU chief Brexit negotiator Michel Barnier had raised the prospect of extending the transition deal until the end of 2022, May said it was "important that we are out of the implementation period by the next general election", scheduled for May 2022. Addressing the issue of immigration, a concern for many businesses who fear they will face skills gaps after Brexit, May promised to introduce "more streamlined application processes" that will "attract the brightest and the best from around the world". "But the difference will be this: once we have left the EU, we will be fully in control of who comes here," she said. "It will no longer be the case that EU nationals, regardless of the skills or experience they have to offer, can jump the queue ahead of engineers from Sydney or software developers from Delhi."

Theresa May wins business support for draft Brexit deal

British Prime Minister Theresa May said on Sunday toppling her would risk delaying Brexit and she would not let talk of a leadership challenge distract her from a critical week of negotiations.

Since unveiling a draft divorce deal with the European Union on Wednesday, May's premiership has been thrust into crisis by the resignation of several ministers, including her Brexit minister, and some lawmakers from her own party seeking to oust her.

To trigger a confidence vote, 48 of her Conservative Party lawmakers must submit a letter to the chairman of the so-called 1922 committee, Graham Brady.

More than 20 lawmakers have said publicly that they have submitted a letter, but others are expected to have done so confidentially. Brady told BBC Radio on Sunday the 48 threshold had not yet been reached.

"These next seven days are going to be critical, they are about the future of this country," May told Sky News. "I am not going to be distracted from the important job.

"A change of leadership at this point isn't going to make the negotiations any easier ... what it will do is mean that there is a risk that actually we delay the negotiations and that is a risk that Brexit gets delayed or frustrated."

May said negotiating teams were working "as we speak" and she intended to go to Brussels and meet European Commission President Jean-Claude Juncker. She said she would also be speaking to other EU leaders ahead of an EU summit to discuss the deal on Nov. 25.

Several British newspapers reported that five senior pro-Brexit ministers were working together to pressure May to change the deal, but writing in the Sun on Sunday newspaper May said she saw no alternative plan on the table.

Former Brexit minister Dominic Raab, who resigned on Thursday in protest at the deal, said he supported May as leader but her deal was "fatally flawed" and he did not think it would be approved by parliament. He said May must change course.

"I still think a deal could be done but it is very late in the day now and we need to change course," Raab told the BBC.

"The biggest risk of no deal is taking a bad deal to the House of Commons ... it is very important to take the action now."

Opposition Labour leader Jeremy Corbyn said his party would vote against May's deal when it came to parliament, but distanced himself from calls for a so-called people's vote on the final agreement.

"It's an option for the future, but it's not an option for today, because if we had a referendum tomorrow, what's it going to be on? What's the question going to be?" Corbyn told Sky News.

British Prime Minister Theresa May said on Sunday toppling her would risk delaying Brexit and she would not let talk of a leadership challenge distract her from a critical week of negotiations.

British Prime Minister Theresa May said on Sunday toppling her would risk delaying Brexit and she would not let talk of a leadership challenge distract her from a critical week of negotiations. Since unveiling a draft divorce deal with the European Union on Wednesday, May's premiership has been thrust into crisis by the resignation of several ministers, including her Brexit minister, and some lawmakers from her own party seeking to oust her. To trigger a confidence vote, 48 of her Conservative Party lawmakers must submit a letter to the chairman of the so-called 1922 committee, Graham Brady. More than 20 lawmakers have said publicly that they have submitted a letter, but others are expected to have done so confidentially. Brady told BBC Radio on Sunday the 48 threshold had not yet been reached. "These next seven days are going to be critical, they are about the future of this country," May told Sky News. "I am not going to be distracted from the important job. "A change of leadership at this point isn't going to make the negotiations any easier ... what it will do is mean that there is a risk that actually we delay the negotiations and that is a risk that Brexit gets delayed or frustrated." May said negotiating teams were working "as we speak" and she intended to go to Brussels and meet European Commission President Jean-Claude Juncker. She said she would also be speaking to other EU leaders ahead of an EU summit to discuss the deal on Nov. 25. Several British newspapers reported that five senior pro-Brexit ministers were working together to pressure May to change the deal, but writing in the Sun on Sunday newspaper May said she saw no alternative plan on the table. Former Brexit minister Dominic Raab, who resigned on Thursday in protest at the deal, said he supported May as leader but her deal was "fatally flawed" and he did not think it would be approved by parliament. He said May must change course. "I still think a deal could be done but it is very late in the day now and we need to change course," Raab told the BBC. "The biggest risk of no deal is taking a bad deal to the House of Commons ... it is very important to take the action now." Opposition Labour leader Jeremy Corbyn said his party would vote against May's deal when it came to parliament, but distanced himself from calls for a so-called people's vote on the final agreement. "It's an option for the future, but it's not an option for today, because if we had a referendum tomorrow, what's it going to be on? What's the question going to be?" Corbyn told Sky News.

Getting rid of me risks delaying Brexit: UK PM Theresa May

Britain and the European Union are near touching distance of a Brexit deal which could be clinched in the next 24 to 48 hours, Prime Minister Theresa May's de facto deputy said on Tuesday.

"We're not quite there yet," Cabinet Office Minister David Lidington told BBC radio. "We are almost within touching distance now. The PM has said it can't be a deal at any price."

Asked if he was saying it was possible there could be a deal in the next 24 or 48 hours, he said: "Still possible but not at all definite, I think pretty much sums it up. Cautiously optimistic."

While officials choreograph the biggest divorce deal in EU history, it remains unclear whether May can get a deal passed by parliament where opponents have warned she is betraying Brexit by signing up the United Kingdom to EU subjugation.

Sterling jumped half a percent to as high as US $1.2917 on Lidington's comments.

The EU wants to get agreement on a draft deal by the end of Wednesday at the latest if there is to be a summit this month to approve it. Some EU diplomats said they didn't have high hopes of a breakthrough this week.

The EU and the United Kingdom need an agreement to keep trade flowing between the world's biggest trading bloc and the fifth largest national economy.

But May has struggled to untangle nearly 46 years of membership without damaging trade or upsetting the lawmakers who will ultimately decide the fate of any deal she can secure.

'TEMPORARY AND NOT INDEFINITE'

With under five months until Britain leaves the EU, the so-called Northern Irish backstop is the main outstanding issue.

It is an insurance policy to avoid a return to controls on the border between the British province of Northern Ireland and EU member Ireland if a future trading relationship is not agreed in time.

Asked if the UK could be trapped in a backstop against its will, Lidington said: "The prime minister has said again and again, if the backstop were ever to be used - we don't want it to be used - ... it's clearly got to be something that would be temporary and not indefinite."

But the intricacies of any deal, hammered out in late night sessions at the European Commission's modernist Berlaymont building in Brussels, are unlikely to change the growing opposition to May.

By seeking to leave the EU while preserving the closest possible ties, May's compromise plan has upset Brexiteers, pro-Europeans, Scottish nationalists, the Northern Irish party that props up her government, and some of her own ministers.

Brexit Secretary Dominic Raab said on Tuesday he was confident of progress in talks, though he gave no further details.

Lidington, who voted to stay in the EU in the 2016 referendum, declined to say whether the proposed deal would make the United Kingdom wealthier or poorer, saying that the people had decided to leave the EU.

Asked whether Britain would have to start preparing in earnest for a "no-deal" Brexit if an agreement were not clinched by the end of Wednesday, as newspapers have reported, he said: "I'm not going to ascribe days to particular actions."

"The end of Wednesday is important but what we've been doing in government in the two years since the referendum is to take forward contingency planning against all eventualities," he said. "We both hope and expect a deal will be negotiated."

Britain and the European Union are near touching distance of a Brexit deal which could be clinched in the next 24 to 48 hours, Prime Minister Theresa May's de facto deputy said on Tuesday.

Britain and the European Union are near touching distance of a Brexit deal which could be clinched in the next 24 to 48 hours, Prime Minister Theresa May's de facto deputy said on Tuesday. "We're not quite there yet," Cabinet Office Minister David Lidington told BBC radio. "We are almost within touching distance now. The PM has said it can't be a deal at any price." Asked if he was saying it was possible there could be a deal in the next 24 or 48 hours, he said: "Still possible but not at all definite, I think pretty much sums it up. Cautiously optimistic." While officials choreograph the biggest divorce deal in EU history, it remains unclear whether May can get a deal passed by parliament where opponents have warned she is betraying Brexit by signing up the United Kingdom to EU subjugation. Sterling jumped half a percent to as high as US $1.2917 on Lidington's comments. The EU wants to get agreement on a draft deal by the end of Wednesday at the latest if there is to be a summit this month to approve it. Some EU diplomats said they didn't have high hopes of a breakthrough this week. The EU and the United Kingdom need an agreement to keep trade flowing between the world's biggest trading bloc and the fifth largest national economy. But May has struggled to untangle nearly 46 years of membership without damaging trade or upsetting the lawmakers who will ultimately decide the fate of any deal she can secure. 'TEMPORARY AND NOT INDEFINITE' With under five months until Britain leaves the EU, the so-called Northern Irish backstop is the main outstanding issue. It is an insurance policy to avoid a return to controls on the border between the British province of Northern Ireland and EU member Ireland if a future trading relationship is not agreed in time. Asked if the UK could be trapped in a backstop against its will, Lidington said: "The prime minister has said again and again, if the backstop were ever to be used - we don't want it to be used - ... it's clearly got to be something that would be temporary and not indefinite." But the intricacies of any deal, hammered out in late night sessions at the European Commission's modernist Berlaymont building in Brussels, are unlikely to change the growing opposition to May. By seeking to leave the EU while preserving the closest possible ties, May's compromise plan has upset Brexiteers, pro-Europeans, Scottish nationalists, the Northern Irish party that props up her government, and some of her own ministers. Brexit Secretary Dominic Raab said on Tuesday he was confident of progress in talks, though he gave no further details. Lidington, who voted to stay in the EU in the 2016 referendum, declined to say whether the proposed deal would make the United Kingdom wealthier or poorer, saying that the people had decided to leave the EU. Asked whether Britain would have to start preparing in earnest for a "no-deal" Brexit if an agreement were not clinched by the end of Wednesday, as newspapers have reported, he said: "I'm not going to ascribe days to particular actions." "The end of Wednesday is important but what we've been doing in government in the two years since the referendum is to take forward contingency planning against all eventualities," he said. "We both hope and expect a deal will be negotiated."

Brexit deal possible in next 24-48 hours, May's deputy says

By Nikos Skoutaris

British Prime Minister Theresa May has insisted that the result of the Brexit referendum “was a vote to take control of our borders”. In order to do that, the UK will be leaving both the EU single market and the customs union. At the same time, May’s government has committed to protecting the Good Friday Agreement by not accepting any physical infrastructure at the Irish land border. So, the UK and the EU have been facing an almost unsolvable riddle. How can they keep open a land border between an EU member state and a country that is outside the single market and the customs union?

The text of the political agreement reached between the UK and EU in December 2017 included a formula to square the circle. It stated that the aim of future negotiations would be to address the challenge of the Irish border through the overall EU-UK relationship. If the final withdrawal agreement doesn’t provide a frictionless invisible border, then “specific solutions” will apply to Northern Ireland. But if the UK and the EU cannot agree on those specific solutions, then Northern Ireland or the UK as a whole will remain aligned to the single market and the customs union.

Since then, the UK and EU negotiators have struggled to find a legally operative text that would both fulfil the commitment to keep the land border open and respect the political sensitivities of all the interested parties. Below are the proposals on the table.

The EU backstop

The first attempt to legally codify the December 2017 commitment came in the Draft Withdrawal Treaty published by the European Union in February 2018. This proposed setting up a common regulatory area comprising the European Union and Northern Ireland. The region would, therefore, remain in the EU customs territory. May vehemently rejected the plan noting that “no UK prime minister could agree to it”.

The main problem with the suggested arrangement is that it will create a customs border in the Irish Sea between Northern Ireland and the rest of the UK. This is why EU negotiator Michel Barnier tried to de-dramatise the proposed solution by insisting that the whole arrangement creates neither a land nor a sea border. It is merely “a set of technical checks and controls”.

Arlene Foster, leader of Northern Ireland’s Democratic Unionist Party, insists that “the entirety of the UK should be leaving the single market and the customs union”. She has threatened to withdraw the parliamentary support on which May’s government relies if Northern Ireland is treated differently to the UK after Brexit.

The UK backstop 
 
In June 2017, the UK government published its own counter-proposal for a backstop arrangement. The biggest difference between the two proposals is that the UK’s applies to the whole country and not just to Northern Ireland. The entire territory of the UK and the Channel Islands would remain part of the customs territory of the European Union, even after the end of the transition period in December 2020.

However, it is not entirely clear whether under this solution there would also be regulatory alignment between the UK and the EU, keeping the UK effectively within a significant part of the single market. Be that as it may, such an arrangement respects the DUP’s red lines but angers Eurosceptic MPs who do not welcome the prospect of the UK being aligned with EU rules in the long term. This group could vote against such a deal when it reaches parliament.

A backstop to a backstop

More problematic, from an EU point of view, is that May insists that the backstop should be a “temporary solution” because the UK does not want to be “stuck permanently in single customs territory, unable to do meaningful trade deals”. Given that the UK insists on legally entrenching the deadline of the backstop option, the EU is asking for a “backstop to a backstop” specific to Northern Ireland that will not be time-limited.

Endgame

The negotiations for the withdrawal of the UK from the EU are reaching their final stages and it is difficult to see how a solution to the Irish border conundrum can be found without some compromise. The solemn commitment that the UK has undertaken to protect the Good Friday Agreement and to keep the Irish land border open raises a significant dilemma. Either it has to opt for a much closer relationship with the EU than the one described in its red lines or it has to accept some differentiation for Northern Ireland.

(Nikos Skoutaris is Senior Lecturer in European Union Law, School of Law, University of East Anglia)

(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/brexit-backstop-refresh-why-the-uk-and-eu-cant-agree-on-northern-ireland-105080">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

By Nikos Skoutaris British Prime Minister Theresa May has insisted that the result of the Brexit referendum “was a vote to take control of our borders”. In order to do that, the UK will be leaving both the EU single market and the customs union.

By Nikos Skoutaris British Prime Minister Theresa May has insisted that the result of the Brexit referendum “was a vote to take control of our borders”. In order to do that, the UK will be leaving both the EU single market and the customs union. At the same time, May’s government has committed to protecting the Good Friday Agreement by not accepting any physical infrastructure at the Irish land border. So, the UK and the EU have been facing an almost unsolvable riddle. How can they keep open a land border between an EU member state and a country that is outside the single market and the customs union? The text of the political agreement reached between the UK and EU in December 2017 included a formula to square the circle. It stated that the aim of future negotiations would be to address the challenge of the Irish border through the overall EU-UK relationship. If the final withdrawal agreement doesn’t provide a frictionless invisible border, then “specific solutions” will apply to Northern Ireland. But if the UK and the EU cannot agree on those specific solutions, then Northern Ireland or the UK as a whole will remain aligned to the single market and the customs union. Since then, the UK and EU negotiators have struggled to find a legally operative text that would both fulfil the commitment to keep the land border open and respect the political sensitivities of all the interested parties. Below are the proposals on the table. The EU backstop The first attempt to legally codify the December 2017 commitment came in the Draft Withdrawal Treaty published by the European Union in February 2018. This proposed setting up a common regulatory area comprising the European Union and Northern Ireland. The region would, therefore, remain in the EU customs territory. May vehemently rejected the plan noting that “no UK prime minister could agree to it”. The main problem with the suggested arrangement is that it will create a customs border in the Irish Sea between Northern Ireland and the rest of the UK. This is why EU negotiator Michel Barnier tried to de-dramatise the proposed solution by insisting that the whole arrangement creates neither a land nor a sea border. It is merely “a set of technical checks and controls”. Arlene Foster, leader of Northern Ireland’s Democratic Unionist Party, insists that “the entirety of the UK should be leaving the single market and the customs union”. She has threatened to withdraw the parliamentary support on which May’s government relies if Northern Ireland is treated differently to the UK after Brexit. The UK backstop In June 2017, the UK government published its own counter-proposal for a backstop arrangement. The biggest difference between the two proposals is that the UK’s applies to the whole country and not just to Northern Ireland. The entire territory of the UK and the Channel Islands would remain part of the customs territory of the European Union, even after the end of the transition period in December 2020. However, it is not entirely clear whether under this solution there would also be regulatory alignment between the UK and the EU, keeping the UK effectively within a significant part of the single market. Be that as it may, such an arrangement respects the DUP’s red lines but angers Eurosceptic MPs who do not welcome the prospect of the UK being aligned with EU rules in the long term. This group could vote against such a deal when it reaches parliament. A backstop to a backstop More problematic, from an EU point of view, is that May insists that the backstop should be a “temporary solution” because the UK does not want to be “stuck permanently in single customs territory, unable to do meaningful trade deals”. Given that the UK insists on legally entrenching the deadline of the backstop option, the EU is asking for a “backstop to a backstop” specific to Northern Ireland that will not be time-limited. Endgame The negotiations for the withdrawal of the UK from the EU are reaching their final stages and it is difficult to see how a solution to the Irish border conundrum can be found without some compromise. The solemn commitment that the UK has undertaken to protect the Good Friday Agreement and to keep the Irish land border open raises a significant dilemma. Either it has to opt for a much closer relationship with the EU than the one described in its red lines or it has to accept some differentiation for Northern Ireland. (Nikos Skoutaris is Senior Lecturer in European Union Law, School of Law, University of East Anglia) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

UK and EU face an almost unsolvable riddle

'More work needed on Irish backstop': British Prime Minister Theresa May

<a href="http://www.wionews.com/india-news/watch-pakistan-helicopter-violates-indian-airspace-poonch-sector-jk-168534">J&amp;K: Pakistan helicopter violates Indian airspace in </a><a href="http://www.wionews.com/india-news/watch-pakistan-helicopter-violates-indian-airspace-poonch-sector-jk-168534">Poonch</a><a href="http://www.wionews.com/india-news/watch-pakistan-helicopter-violates-indian-airspace-poonch-sector-jk-168534"> sector</a>

A Pakistani chopper Sunday violated the airspace along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, the Army said. News agency PTI quoting Jammu-based Army PRO Lt Col Devender Anand said that the helicopter violated the airspace around 12:13 pm.

<a href="http://www.wionews.com/industry/hyderabad-bound-jet-airways-flight-makes-emergency-landing-indore-airport-168533">Hyderabad-bound Jet flight makes </a><a href="http://www.wionews.com/industry/hyderabad-bound-jet-airways-flight-makes-emergency-landing-indore-airport-168533">emergency</a><a href="http://www.wionews.com/industry/hyderabad-bound-jet-airways-flight-makes-emergency-landing-indore-airport-168533"> landing at Indore airport</a>

A Hyderabad bound Jet Airways flight made an emergency landing at Indore airport after the crew encountered a technical glitch in the engine on Sunday, news agency ANI reported.&nbsp;

<a href="http://www.wionews.com/world/lets-come-together-may-makes-brexit-appeal-party-168544">'Let's come together,' UK PM Theresa May makes </a><a href="http://www.wionews.com/world/lets-come-together-may-makes-brexit-appeal-party-168544">Brexit</a><a href="http://www.wionews.com/world/lets-come-together-may-makes-brexit-appeal-party-168544"> appeal to </a><a href="http://www.wionews.com/world/lets-come-together-may-makes-brexit-appeal-party-168544">party</a>

Prime Minister Theresa May called on her party on Sunday to unite behind her plan to leave the European Union, making a direct appeal to critics by saying their desire for a free trade deal was at the heart of her own Brexit proposals.

<a href="http://www.wionews.com/entertainment/rapper-kanye-west-changes-his-name-ye-168551">Rapper Kanye West changes his name to Ye</a>

Rapper Kanye West has announced that his new name is 'Ye'. The 41-year-old musician shared the news of his name change on Twitter and wrote, "the being formally known as Kanye West. I am YE."

<a href="http://www.wionews.com/south-asia/fearing-debt-trap-pakistan-rethinks-chinese-silk-road-projects-168559">Fearing debt trap, Pakistan rethinks Chinese 'Silk Road' projects</a>

After lengthy delays, an $8.2 billion revamp of a colonial-era rail line snaking from the Arabian Sea to the foothills of the Hindu Kush has become a test of Pakistan's ability to rethink signature Chinese "Silk Road" projects due to debt concerns.

J&K: Pakistan helicopter violates Indian airspace in Poonch sector A Pakistani chopper Sunday violated the airspace along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, the Army said.

J&K: Pakistan helicopter violates Indian airspace in Poonch sector A Pakistani chopper Sunday violated the airspace along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, the Army said. News agency PTI quoting Jammu-based Army PRO Lt Col Devender Anand said that the helicopter violated the airspace around 12:13 pm. Hyderabad-bound Jet flight makes emergency landing at Indore airport A Hyderabad bound Jet Airways flight made an emergency landing at Indore airport after the crew encountered a technical glitch in the engine on Sunday, news agency ANI reported. 'Let's come together,' UK PM Theresa May makes Brexit appeal to party Prime Minister Theresa May called on her party on Sunday to unite behind her plan to leave the European Union, making a direct appeal to critics by saying their desire for a free trade deal was at the heart of her own Brexit proposals. Rapper Kanye West changes his name to Ye Rapper Kanye West has announced that his new name is 'Ye'. The 41-year-old musician shared the news of his name change on Twitter and wrote, "the being formally known as Kanye West. I am YE." Fearing debt trap, Pakistan rethinks Chinese 'Silk Road' projects After lengthy delays, an $8.2 billion revamp of a colonial-era rail line snaking from the Arabian Sea to the foothills of the Hindu Kush has become a test of Pakistan's ability to rethink signature Chinese "Silk Road" projects due to debt concerns.

News brief: Big stories of the day

The 30-minute circuit also features the 'Theresa May Sack Race,' 'Jacob Rees-Logg lifts' and 'Politico Headslammer' in which participants slam balls on to pictures of British Prime Minister Theresa May and opposition Labour party leader Jeremy Corbyn.

Brexit rage: Londoners hit Boris & Theresa punching bags

<a href="http://www.wionews.com/world/pompeo-says-trump-kim-summit-more-likely-after-october-report-167820">Secretary of State Mike Pompeo says Trump-Kim summit more likely after October: Report</a>

Secretary of State Mike Pompeo said on Wednesday he was working to set up the next summit between US President Donald Trump and North Korean leader Kim Jong Un, but any meeting will likely be after October.

<a href="http://www.wionews.com/india-news/uidai-sees-victory-sc-judgement-says-private-usage-restricted-167800">Aadhaar verdict: UIDAI sees victory in Supreme Court judgement, says private usage restricted</a>

The UIDAI Wednesday termed the Supreme Court judgement, which upheld Aadhaar as a constitutionally valid scheme, as a victory.

<a href="http://www.wionews.com/south-asia/10-afghan-children-2-women-dead-air-strike-un-initial-report-167798">10 Afghan children, 2 women dead in air strike: UN initial report</a>

An air strike appears to have killed 12 members of an Afghan family, most of them children, the United Nations said, citing preliminary findings, as US and Afghan forces ramp up aerial bombardments against militants.

<a href="http://www.wionews.com/world/uk-labour-partys-corbyn-say-will-vote-against-pm-mays-brexit-deal-it-stands-167816">Labour will vote against PM May's Chequers Brexit plan, says Jeremy Corbyn</a>

British opposition leader Jeremy Corbyn said on Wednesday Labour would vote against a Brexit deal based on Theresa May's proposals, the strongest warning yet to a prime minister whose plan to leave the European Union is hanging by a thread.

<a href="http://www.wionews.com/world/russian-parliament-passes-pension-bill-key-second-reading-167808">Russian parliament passes pension bill in </a><a href="http://www.wionews.com/world/russian-parliament-passes-pension-bill-key-second-reading-167808">key</a><a href="http://www.wionews.com/world/russian-parliament-passes-pension-bill-key-second-reading-167808"> second reading</a>

The Russian parliament's lower house, State Duma passed the controversial pension bill in key second reading on Wednesday.

&nbsp;

&nbsp;

Secretary of State Mike Pompeo says Trump-Kim summit more likely after October: Report Secretary of State Mike Pompeo said on Wednesday he was working to set up the next summit between US President Donald Trump and North Korean leader Kim Jong Un, but any meeting will likely be after October.

Secretary of State Mike Pompeo says Trump-Kim summit more likely after October: Report Secretary of State Mike Pompeo said on Wednesday he was working to set up the next summit between US President Donald Trump and North Korean leader Kim Jong Un, but any meeting will likely be after October. Aadhaar verdict: UIDAI sees victory in Supreme Court judgement, says private usage restricted The UIDAI Wednesday termed the Supreme Court judgement, which upheld Aadhaar as a constitutionally valid scheme, as a victory. 10 Afghan children, 2 women dead in air strike: UN initial report An air strike appears to have killed 12 members of an Afghan family, most of them children, the United Nations said, citing preliminary findings, as US and Afghan forces ramp up aerial bombardments against militants. Labour will vote against PM May's Chequers Brexit plan, says Jeremy Corbyn British opposition leader Jeremy Corbyn said on Wednesday Labour would vote against a Brexit deal based on Theresa May's proposals, the strongest warning yet to a prime minister whose plan to leave the European Union is hanging by a thread. Russian parliament passes pension bill in key second reading The Russian parliament's lower house, State Duma passed the controversial pension bill in key second reading on Wednesday.

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