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Rejecting other Brexit options, May sticks by her deal

LONDON (Reuters) – British Prime Minister Theresa May is pressing on with her deal to leave the European Union, her spokesman said on Monday, rejecting calls for a second referendum or to test support for different Brexit options in parliament.

After a tumultuous week in which she survived a confidence vote and sought last-minute changes to a Brexit agreement reached with Brussels last month, May faces deadlock over her deal in the British parliament.

With the EU offering little in the way of concessions to win over lawmakers, an increasing number of politicians are calling for a second referendum – something some of her ministers say could be avoided if the government tested Brexit scenarios in parliamentary votes.

Parliament is deeply divided, with factions pressing for different options for future ties, exiting without a deal or remaining in the EU.

May and her ministers have repeatedly ruled out a replay of the referendum, saying it would deepen rifts and betray voters who backed Brexit by 52 percent to 48 percent in 2016.

That increases the risk of Britain leaving without a deal on March 29, a scenario some businesses fear would be catastrophic for the world’s fifth largest economy.

May will use a statement in parliament on Monday to reject the idea of a second referendum and to again set out that her agreement to keep close economic ties with the EU after Brexit is the only one on offer.

May’s spokesman said on Monday parliament’s vote on the Brexit deal will be in January.

Rejecting other Brexit options, May sticks by her deal

Turkey may start new Syria operation at any moment, Erdogan says

ANKARA (Reuters) – Turkey may start a new military operation in Syria at any moment, President Tayyip Erdogan said on Monday, adding that U.S. President Donald Trump had given a positive response to Turkey’s plans for an operation east of the Euphrates.

Erdogan made the comments during a speech in the central province of Konya. Last week he said Turkish forces would launch a new cross-border operation against the Syrian Kurdish YPG militia, considered a terrorist organization by Ankara, to the east of the Euphrates river in northern Syria.

Turkey may start new Syria operation at any moment, Erdogan says

China trade steps seen as good start but leave core U.S. demands untouched

WASHINGTON (Reuters) – The United States has welcomed Chinese concessions since the two declared a trade war truce in early December, but trade experts and people familiar with negotiations say Beijing needs to do far more to meet U.S. demands for long-term change in how China does business.

U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed on Dec. 1 in Buenos Aires to stop escalating tit-for-tat tariffs that have disrupted the flow of hundreds of billions of dollars of goods between the world’s two biggest economies.

Since then, Beijing has resumed buying U.S. soybeans, the single largest agricultural export between the two countries. China has also cut tariffs on imports of cars from the United States, dialed back on an industrial development plan known as “Made in China 2025,” and told its state refiners to buy more U.S. oil.

Trump took those as signs that “China wants to make a big and very comprehensive deal.”

But they only start to bring Beijing and Washington back to their pre-trade-war status quo, experts said, and do little to resolve core U.S. demands for structural changes in China to end policies that subsidize large state-owned enterprises and effectively force the transfer of American technology to Chinese firms.

“I think these are goodwill gestures, but they don’t go beyond offers that were on the table before Trump launched his trade war,” said Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics.

“Much more will have to be offered by China to reach an interim agreement in March 2019,” Hufbauer said, adding that structural changes would be far harder to agree on, much less achieve, by then.

China trade steps seen as good start but leave core U.S. demands untouched

Foxconn not in settlement talks with Qualcomm in Apple battle: attorney

SAN FRANCISCO (Reuters) – The lead attorney for the group of Apple Inc device assemblers seeking at least $9 billion in damages from Qualcomm Inc said on Sunday the contract manufacturers are not in settlement talks with the mobile chip supplier and are “gearing up and heading toward the trial” in April.
The group of contract manufacturers – which includes Foxconn parent Hon Hai Precision Industry Co Ltd, Pegatron Corp, Wistron Corp and Compal Electronics Inc – became embroiled in the dispute between Apple and Qualcomm last year.

In the supply chain for electronics, contract manufacturers buy Qualcomm chips and pay royalties when they build phones, and are in turn reimbursed by companies like Apple. Qualcomm sued the group last year, alleging they had stopped paying royalties related to Apple products, and Apple joined their defense.

The contract manufacturers have since filed claims of their own against Qualcomm, alleging the San Diego company’s practice of charging money for chips but then also asking for a cut of the adjusted selling price of a mobile phone as a patent royalty payment constitutes an anticompetitive business practice.

They are seeking $9 billion in damages from Qualcomm for royalties they allege were illegal. That figure could triple if the manufacturers succeed on their antitrust claims.

Ted Boutrous, a high-profile partner at Gibson, Dunn & Crutcher LLP who is representing the contract manufacturers, told Reuters that statements from Qualcomm executives suggesting there were meaningful settlement talks with the contract manufacturers were “false.”

Foxconn not in settlement talks with Qualcomm in Apple battle: attorney

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Currency pairsMetalsRaw materialsCrypto
EURUSD1.2286525.1 (0.20%) 1.8
GBPUSD1.4028253.0 (0.38%) 2.5
USDCAD1.2903215.8 (0.12%) 2.6
USDCHF0.957309.3 (0.10%) 2.3
USDJPY106.33742.9 (0.40%) 1.8
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USD/CAD 17 December 2018 00:01 17 December 2018 18:00 Buy 1.3400-10 1.3370-1.3350 1.3450-1.3480
EUR/GBP 17 December 2018 00:01 17 December 2018 18:00 Buy 0.9000-0.8980 0.8960-0.8940 0.9050-0.9080
DSH/USD 17 December 2018 00:01 17 December 2018 18:00 Sell 61.000-60.000 65.000-69.000 55.000- 50.000
AUD/USD 14 December 2018 00:01 14 December 2018 18:00 Buy 0.7220-00 0.7200 0.7260-0.7300
EUR/JPY 13 December 2018 00:01 13 December 2018 18:00 Buy 128.30-50 128.20-128.00 128.80
GBP/USD 10 December 2018 00:01 10 December 2018 18:00 Sell 1.2780-1.2760 1.2800-30 1.2670
EUR/GBP 10 December 2018 00:01 10 December 2018 18:00 Buy 0.9800-20 0.8880-0.8850 0.8970
DSH/USD 6 December 2018 00:01 6 December 2018 18:00 Sell 85.000-80.000 90.000-100.000 65.000
USD/CAD 5 December 2018 00:01 5 December 2018 18:00 Buy 1.3210-30 1.3180-1.3160 1.3270
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* Ester Holdings Inc. does not bear responsibility for the results of trade decisions, adopted using trading signals of independent analysts. All signals are informative.

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