Latest news with #Brexit.The
Al Etihad
20-05-2025
- Business
- Al Etihad
Dollar slips again on caution over US economy, Aussie falls after RBA
20 May 2025 14:35 TOKYO (Reuters)The dollar slipped on Tuesday after declining for a week, weighed down by the Federal Reserve's caution over the economy and as US lawmakers came closer to passing a bill expected to widen the nation's fiscal greenback sold off broadly on Monday following last week's downgrade of the US sovereign rating by Moody's on deficit concerns. Now attention turns to a critical vote in Washington over US President Donald Trump's sweeping tax selling continued on Tuesday, leaving the US currency down 0.35% against the yen at 144.305 hitting a fresh 12-day low. The euro rose 0.14% to $1.1259, and the Swiss franc strengthened, pushing the dollar down 0.2% to 0.83280 the trend was the Australian dollar which edged lower after the Reserve Bank of Australia's cut benchmark interest rates by 25 basis points and left the door open to further easing in the months ahead. It was last down 0.59% to $0.64195, trimming a 0.8% gain on is expected to join the congressional debate over his tax bill on Tuesday. The vote comes after Moody's stripped the US government of its top-tier credit rating, citing concerns over the nation's growing $36.2 trillion debt bill would add $3 trillion to $5 trillion to the debt, according to nonpartisan analysts. Ballooning fiscal debt, trade frictions, and weakened confidence have weighed on US assets. The US dollar index has tumbled as much as 10.6% from its January highs, one of the sharpest retreats for a three-month dollar got a breather after Trump paused many of the largest tariffs he announced last month. But comments from Japan's top trade envoy on Tuesday that Tokyo was firm in its anti-tariff stance pointed to no easy off-ramp in the negotiations in the weeks and months in the wake of Trump's tariff turmoil, Britain on Monday agreed to the most significant reset of defence and trade ties with the European Union since pound was last up 0.16% at 1.33840 having risen 0.6% on Monday. "Optimism surrounding key UK economic data and a major political breakthrough has fuelled sterling's gains alongside broad-based dollar weakness," wrote George Vessey, lead FX and macro strategist at Convera.
Economic Times
19-05-2025
- Politics
- Economic Times
UK and EU agree to work towards youth mobility deal, document shows
Britain and the European Union will collaborate on a youth mobility scheme. This initiative aims to facilitate opportunities for young individuals to live and work across the continent. The plan includes provisions for work, study, volunteering, and travel. Both sides will negotiate the terms, including visa pathways and participant numbers. Ursula von der Leyen, President of the European Commission, left, and Keir Starmer, Prime Minister of the United Kingdom greet each other. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Britain and the European Union have agreed to work towards a deal that would make it easier for young people to live and work across the continent, according to document seen by Reuters on so-called "balanced youth experience" scheme will allow young people from Britain and the EU to work, study, volunteer, or travel, for a limited period of time in each other's countries, the document said."The European Commission and the United Kingdom should work towards a balanced youth experience scheme on terms to be mutually agreed," the document said. "It should provide a dedicated visa path and ensure that the overall number of participants is acceptable to both sides."The plan is part of a wider reset of ties between Britain and the EU to be announced later on Monday, also covering trade, defence and other issues, in the most significant such reset since British government had until a few months ago rejected the EU's demands for a youth mobility deal, arguing it would be too close to restoring the free movement of people across the bloc that Britain ended when it left the EU in deal is likely to politically Farage, the leader of Britain's populist, right-wing Reform UK party, has said such a plan would "effectively be a back door to free movement" that was opposed by British voters in the 2016 Brexit officials have said one of the main issues in any negotiation will be how to cap the number of EU students who will be allowed to come to Britain.
Time of India
19-05-2025
- Politics
- Time of India
Breaking News Live Updates: US Vice President Vance meets Zelenskyy to discuss Ukraine-Russia peace talks
19 May 2025 | 07:29:46 AM IST Breaking News Live Updates: US Vice President JD Vance met with Ukrainian President Volodymyr Zelenskyy in Rome on Sunday (local time) on the sidelines of Pope Leo XIV's inaugural mass at Saint Peter's Square in Vatican City. Breaking News Live Updates: US Vice President JD Vance met with Ukrainian President Volodymyr Zelenskyy in Rome on Sunday (local time) on the sidelines of Pope Leo XIV's inaugural mass at Saint Peter's Square in Vatican to a statement from the Office of the Vice President, the focus of the meeting was on the ongoing conflict between Russia and Ukraine, with discussions centred on their shared objective of halting the bloodshed in States Secretary of State Marco Rubio was also present at the parties also discussed the current status of negotiations between Russia and Ukraine in Istanbul, Turkiye, which aim to achieve a ceasefire and establish lasting peace in the region."This afternoon in Rome, Italy, Vice President JD Vance and Secretary of State Marco Rubio met with Ukrainian President Volodymyr Zelenskyy. The leaders discussed their shared goal of ending the bloodshed in Ukraine and provided updates on the current state of negotiations for a ceasefire and lasting peace," the statement from the VP's office read. Show more UK Prime Minister Keir Starmer hosts European Union chiefs on Monday for a landmark summit designed to usher in a closer relationship between Britain and the bloc, five years after meeting in London is expected to deliver the first results from Starmer's much-heralded "reset" of the UK's ties with its European neighbours following the rancour of the post-Brexit Saturday, Downing Street announced the Labour leader would be striking a deal for a "strengthened, forward-looking partnership" with the 27 EU members. Starmer said it would be "good for our jobs, good for our bills and good for our borders".Talks were going down the wire to resolve squabbling over long-standing issues, including fishing rights and a youth mobility scheme, but negotiators were hopeful of at least signing a defence and security partnership. Bucharest Mayor Nicusor Dan's decision to attend a string of debates last week shunned by his hard-right rival appeared to pay off on Sunday when the pro-European Union centrist emerged victorious in the country's presidential run-off said Dan's earnestness while sitting across an empty chair where George Simion should have sat is in large part what convinced Romanians to show up to the polls in the greatest turnout in 25 years."While Dan was driven, open and anti-populist, Simion ran the worst possible campaign by ... refusing dialogue, and radicalizing voters," said Sergiu Miscoiu, a political science professor at Babes-Bolyai University. The 55-year-old centrist, who has pledged to clamp down on corruption, is staunchly in favor of Romania's membership in the EU and NATO, and has said his country's support for Ukraine is vital for its own security against a growing Russian threat. Former US president Joe Biden "is a fighter," his vice president Kamala Harris said Sunday after he announced that he had been diagnosed with an aggressive form of prostate cancer that had spread to his said she was "saddened" to learn of the diagnosis, adding in a post on X: "Joe is a fighter — and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership. We are hopeful for a full and speedy recovery." Joe Biden will fight cancer "with his trademark resolve and grace," former president Barack Obama said Sunday, after Biden's office announced he had been diagnosed with an aggressive form of the disease."Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery," Obama, who made Biden his vice president, said on X. Taiwan's Ministry of National Defence (MND) on Monday detected 21 sorties of People's Liberation Army (PLA) aircraft, eight People's Liberation Army Navy (PLAN) vessels and three official ships near its the 21 aircraft, 16 crossed the median line of the Taiwan Strait and entered the island's northern, southwestern, and eastern air defence identification zones (ADIZ)."21 PLA aircraft, 8 PLAN vessels and 3 official ships operating around Taiwan were detected up until 6 a.m. (UTC+8) today. 16 out of 21 sorties crossed the median line and entered Taiwan's northern, southwestern and eastern ADIZ. We have monitored the situation and responded," MND stated in a post on X. US President Donald Trump posts on Truth Social: Melania and I are saddened to hear about Joe Biden's recent medical diagnosis. We extend our warmest and best wishes to Jill and the family, and we wish Joe a fast and successful recovery. Personal Office of Former US President Joe Biden issues a statement: Last week, Former President Joe Biden was seen for a new finding of a prostate nodule after experiencing increasing urinary symptoms. On Friday, he was diagnosed with prostate cancer, characterized by a Gleason score of 9 (Grade Group 5) with metastasis to the bone. While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive, which allows for effective management. The Former President and his family are reviewing treatment options with his physicians. Israeli Prime Minister Benjamin Netanyahu has stated that acting on the recommendations from the Israel Defence Forces (IDF), his cabinet has agreed to allow a "basic quantity" of food after a nearly three-month blockade in Gaza that has brought Palestinians to the edge of famine, Euronews reported on to Euronews, this move is aimed at facilitating Israel's expansion of intense military operations in announcement came as Israel launched a new and extensive ground offensive in Gaza on Saturday, dubbed "Gideon's Chariots".On Sunday alone, over 100 people were killed in Israeli airstrikes, Euronews reported, citing Gaza's Health Ministry. These strikes also forced the closure of the Indonesian Hospital, the key medical facility in northern Gaza. US Vice President JD Vance met with Ukrainian President Volodymyr Zelenskyy in Rome on Sunday (local time) on the sidelines of Pope Leo XIV's inaugural mass at Saint Peter's Square in Vatican to a statement from the Office of the Vice President, the focus of the meeting was on the ongoing conflict between Russia and Ukraine, with discussions centred on their shared objective of halting the bloodshed in States Secretary of State Marco Rubio was also present at the parties also discussed the current status of negotiations between Russia and Ukraine in Istanbul, Turkiye, which aim to achieve a ceasefire and establish lasting peace in the region."This afternoon in Rome, Italy, Vice President JD Vance and Secretary of State Marco Rubio met with Ukrainian President Volodymyr Zelenskyy. The leaders discussed their shared goal of ending the bloodshed in Ukraine and provided updates on the current state of negotiations for a ceasefire and lasting peace," the statement from the VP's office read.
BBC News
11-04-2025
- Business
- BBC News
Brexit training fund problems leave Northern Ireland charities 'struggling'
A number of charities in Northern Ireland have said they face making layoffs due to problems with UK government say they now have to find money up front to pay for training work under the Shared Prosperity Fund (UKSPF).The UKSPF replaced the European Union's European Social Fund (ESF) in March 2023, which came to an end in Northern Ireland as a result of chief executive of East Belfast Mission, Rev Andrew Irvine, told BBC News NI that charities are "struggling" and the new funding arrangement "beggars belief". The UKSPF provides funding to organisations in Northern Ireland for "levelling up" their communities and helping people find employment through Belfast Mission is one of five groups which run the Belfast Works Works offers free training for jobs including barbering, classroom assistants, fitness instructors, catering, healthcare, and security Rev Irvine said that East Belfast Mission is expected to find £180,000 a quarter "out of nowhere" to fund the training and then "wait for the government to pay us". "If we can't do that then this community - in which 67% of those of working age are currently not in work - lose this service, and East Belfast Mission needs to make 17 people redundant and the partnership needs to make 96 people redundant," he said that overall Belfast Works had more than 100 staff and worked with 400 people a month to help them get into staff members have already been made redundant, he added. 'Free finance' The UKSPF website said it would pay delivery organisations "in Northern Ireland in advance, on a six monthly cycle".But Rev Andrew Irvine said that was not happening and that charities were having to "give the government free finance"."They're saying we're not going to fund you until the end of each quarter, so for Belfast Works that means five local community organisations trying to finance the government to the tune of a million pounds a quarter," he said. GEMS Northern Ireland is also part of Belfast Works, and trains people for a range of careers, as well as running classes in English and chief executive, Susan Russam, told BBC News NI that they had 18 staff and had helped train thousands of people through the Belfast Works project."Our salary bill for Belfast Works Connect, which is due to be paid next week, is just short of £50,000," she said."We can find that in April, but we aren't going to be able to find that in May as well."I think that's a little bit unconscionable to expect a small charity like ours, who were already working supporting this project and making a real difference to communities and lives, to have to struggle to actually pay our wages." Cashflow 'challenges' In a statement, the Ministry of Housing, Communities and Local Government (MHCLG) said it would "work closely with these UKSPF-funded projects to ensure that they continue to receive funding on schedule, so they can keep supporting the most vulnerable in society"."Our payment schedule remains the same as in previous years," MHCLG an email from MHCLG, seen by BBC News NI, acknowledged "cashflow for your organisation and partners may present challenges." Mohammad Alhamwi and Olena Karpenko are among students taking a customer service course at who is originally from Syria, said the course was "really valuable"."I'm looking to develop myself as much as I can," he said."The UK is about having a good career, certificates, lots of skills." Olena Karpenko came to Northern Ireland from Ukraine, where she was a teacher."For me, it's very important - new information, new experience, experienced teachers, supportive people," she said."I'm very happy to be here, it's helped me a lot." Rev Irvine said the situation clashed with the government's aspiration to get people back to work."It absolutely flies in the face of the chancellor's position and it actually really, really irritates me when I see the chancellor saying we're going to reduce the welfare payments, but the solution is to get people into work - and then this, this is how they're going about getting people into work?," he said."If this idea is to get people out of poverty by getting them into work, then let's fund this properly and stop behaving like this with the delivery partners."
BBC News
08-04-2025
- Politics
- BBC News
Flypast over Rome in honour of King's state visit
A flypast thundered over Rome in honour of King Charles III and Queen Camilla's state visit to display, involving both the UK's Red Arrows and Italy's Frecce Tricolori, trailed the colours of both nations' flags as a symbol of closer military ties between the two royal visitors - Carlo and Camilla in the local press - were also given a warm welcome by Italy's President Sergio Mattarella in his residence at the Quirinale Palace. The King and Queen arrived in Italy on Monday for a four-day state visit, which is hoped to help the UK reinforce its links with European allies. The Italian president, accompanied by his daughter Laura, greeted the King and Queen in a ceremonial red-carpet welcome inside the cobbled courtyard of the medieval palace.A military band played as they entered the palace, which over the centuries has been a home to 30 popes, as well as Italian kings and Queen was wearing a diamond brooch that once belonged to Queen Monday, the King and Queen met Lord Llewellyn, the UK's ambassador to Italy, at his residence. Speaking about the visit, Lord Llewellyn said the alliance between the Italy and the UK was "vital in a changing Europe, as both our countries stand steadfast in our support of Ukraine".The ambassador has spoken of the "intangible but priceless" value of such soft power royal visits, as the UK tries to "reset" its relations with European neighbours after King and Queen will see more of Rome's ancient monuments on Tuesday, including a trip to the Colosseum. The visit comes after the King had recently spent a short time in hospital over temporary side effects from his cancer treatment. He looked to be in good spirits and enjoying the King, as head of state, is in Italy on behalf of the UK government, and on Wednesday will give a speech to both houses of the Italian Parliament - the first time a UK monarch has delivered such an will also be the couple's 20th wedding anniversary and soon after their arrival on Monday, the King and Queen had anniversary photographs taken in the gardens of the British ambassador's will spend the evening of their anniversary at a glitzy state banquet, where guests are expected to include politicians and celebrities. Sign up here to get the latest royal stories and analysis every week with our Royal Watch newsletter. Those outside the UK can sign up here.
