Britain’s most senior judges have ruled that prime minister Theresa May needs the approval of Parliament to trigger the Brexit process. The Supreme Court decided that MPs must be given a vote on triggering Article 50, the formal mechanism for leaving the EU. Did you really believe the people had spoken?
In a blow to Theresa May's ambitions to implement a "clean Brexit", on Tuesday morning UK’s Supreme Court ruled the UK Prime Minister can’t start the Brexit process without approval from Parliament, a decision that could potentially complicate her path toward a clear break from the European Union. Eight justices voted against the government and three voted in favor of it, in a decision that was widely expected.
Virgin chief Richard Branson is launching a secret organisation aimed at reversing Brexit in an effort to block the UK leaving the European Union. On the very same day that British Prime Minister Theresa May is due to trigger Article 50, Branson says he will publicly unveil a detailed plan outlining how he will defy the will of the population. Express.co.uk reports: The Europhiles are keen to rock the Brexit boat as much as possible by timing their group’s launch to coincide with Theresa May enacting Article 50.
Global shares were mixed, equity futures, the dollar and crude rose as investors focused their attention on today's inauguration of Donald Trump as U.S. president. While the early tone is well bid, some traders anticipate a volatile session, with speculation that a bout of "sell the inauguration" could cap the aging Trump rally, which started with his inauguration.
After yesterday's speech by Janet Yellen which signaled a path of steady interest rate increases and was perceived as hawkish, the dollar rebounded, Asian shares slipped and government bond yields jumped to multi-week highs on Thursday.