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Cabinet ministers have warned that Theresa May will face mass resignations if MPs are barred from trying to stop a no-deal Brexit. The Prime Minister said on Thursday that it is "impossible" to rule out a no-deal Brexit under the terms of Article 50 and warned that it "not in the Government's power" to do so. - Telegraph.
Philip Hammond told business leaders that the “threat” of a no-deal Brexit could be taken “off the table” within days and potentially lead to Article 50 “rescinded”, a leaked recording of a conference call reveals. The Chancellor set out how a backbench Bill could effectively be used to stop any prospect of no deal. He suggested that ministers may even back the plan when asked for an “assurance” by the head of Tesco that the Government would not oppose the motion.
Theresa May has pledged to face down a vote of no confidence in her government, after her Brexit deal was shot down by MPs in the heaviest parliamentary defeat of the democratic era. On a day of extraordinary drama at Westminster, the House of Commons delivered a devastating verdict on the prime minister’s deal, voting against it by 432 to 202. - Guardian .
Share tips from the Sunday newspapers included Asos in the Sunday Times, Renewi in the Mail on Sunday and Whitbread in the Sunday Telegraph.
Theresa May has been warned that her government “will lose its ability to govern” after Downing Street uncovered a bombshell plot by senior MPs to seize control of Brexit negotiations and sideline the prime minister. A cross-party group of senior backbenchers — including former Tory ministers — plan to change Commons rules so motions proposed by backbenchers take precedence over government business, if May loses the crunch vote on her Brexit deal on Tuesday.
Up to 4,000 civil servants are being asked to abandon their day jobs to work on no-deal Brexit preparations under plans being rolled out across Whitehall. Officials in education, justice and welfare are among staff in five government departments being asked to take up new roles within weeks. - The Times.
Theresa May faces a concerted campaign of parliamentary warfare from a powerful cross-party alliance of MPs determined to use every lever at their disposal to prevent Britain leaving the EU without a deal in March. The former staunch loyalist Sir Oliver Letwin signalled that he and other senior Conservatives would defy party whips, repeatedly if necessary, to avoid a no-deal Brexit, as the government suffered a humiliating defeat during a debate on the finance bill in the Commons.
US officials arrived in China for the first face-to-face negotiations since a 90-day truce was declared in a trade war between Washington and Beijing, in the hope of ending a bruising confrontation between the world’s two largest economies. Hopes that the sixth round of negotiations between the two sides could yield a breakthrough helped Asian shares rise on Monday, combined with optimism about the state of the global economy on the back of strong US jobs figures on Friday.
In this Sunday's round-up of newspaper share tips, there was Serica Energy in the Sunday Times, Greene King in the Mail on Sunday and CMC Markets in the Sunday Telegraph.
Theresa May is poised to play for time by further postponing a final vote on her Brexit deal next week, with the aim of limiting the scale of opposition to the vote and buying time for talks with European Union leaders. The Prime Minister's aides are believed to be drawing up a plan to make MPs' approval of the deal conditional on the European Union providing further concessions. - Sunday Telegraph.
Faroe Petroleum's assets are worth up to $1bn, according to an independent valuation published on Wednesday.
The embattled shopping centre group behind Manchester’s Trafford Centre and Lakeside in Essex is the landlord most exposed to the collapse of HMV, with 15 of its sites occupied by the music retailer that called in administrators on Friday. Intu Properties, which was on the receiving end of two failed approaches this year and has suffered multiple tenant failures across its portfolio, has more sites rented out to HMV than any other retail property group, analysis by The Times has found.
Officials are planning to tell Britons to change what they eat in the event of a chaotic Brexit because Whitehall predicts that some sources of fresh food from European Union countries would be cut off. The government has begun detailed planning on food supplies if Britain leaves without a deal and has identified a number of sites for massive hangars to stockpile food, including one near Carlisle and others in Scotland and on the south coast. - The Times.
The pillars of the global financial system are fundamentally unstable and could lead to a frightening chain-reaction in the next crisis, the world’s top watchdog has warned. Giant "central counterparties" (CCPs) that clear much of the $540 trillion (£428 trillion) nexus of derivatives are themselves vulnerable to failure in times of extreme stress. - Telegraph.
A round-up of share tips from the Sunday newspapers, including GVC Holdings in the Sunday Times, Findel in the Mail on Sunday and Codemasters in the Sunday Telegraph.
Two of Theresa May’s most senior allies are preparing for a second EU referendum behind her back, opening up another Tory civil war. David Lidington — May’s deputy in all but name — held talks with Labour MPs on Thursday in an effort to build a cross-party coalition for a new vote as the prime minister faced a week of humiliation at the hands of MPs and European Union leaders. - Sunday Times.
Theresa May was humiliated by European leaders late last night after they rejected pleas for any further concessions to get her Brexit deal through parliament. France and Ireland led a move to strike out a compromise agreement that would have given the prime minister “political and legal assurances” that Britain would not be trapped in an indefinite Irish backstop. - The Times.
Theresa May will be put under pressure at her cabinet meeting today to start planning for a no-deal Brexit, with ministers around the table expecting a vote on her future to be called within hours. Cabinet members are set to push the prime minister to step up preparations for a hard Brexit as some claim that she has repeatedly stalled spending decisions to prepare for such an outcome. - The Times.
A round-up of videos of recent results presentations for investors and analysts given by management from Park Group, Design Group, Eagle Eye, Creightons and Codemasters.
China has said that Beijing and Washington will push forward with trade negotiations in the next 90 days and it is confident that an agreement can be reached but doubts remain over whether the two sides can resolve their deep differences. The commerce ministry, in a brief statement on its website, also said China would work to implement specific issues already agreed upon as quickly as possible. - Guardian.