British Prime Minister Theresa May appears to have begun a purge in her party after shock election results threw the future of her leadership in doubt. May’s co-chiefs of staff, Nick Timothy and Fiona Hill, announced their resignations Saturday on the Conservative Home political blog. Timothy conceded in a statement that he had failed to … Read more
England’s High Court ruled on Thursday that the British government requires parliamentary approval to trigger the process of exiting the European Union, a major upset for Prime Minister Theresa May’s plans for Brexit. Sterling rose on the news, with many investors taking the view that lawmakers would temper the government’s policies and make an economically … Read more
Banks have already said they are making contingency plans to move some of their operations. Big international banks are preparing to move some of their operations out of Britain in early 2017 due to the uncertainty over the country’s future relationship with the European Union, a top banking official said. Many of the world’s major … Read more