The Latest Pound slides as investors watch Brexit showdown

LONDON — The Latest on Brexit (all times local):10 a.m.Mounting concern among international investors about Brexit has pushed the pound to its lowest level since a “flash crash” it endured in October 2016, when uncertainty after the Brexit vote was particularly high.The currency fell as low as $1.1960 on Tuesday, down about a cent on the day before stabilizing around $1.1990. Not counting the brief slide in the autumn of 2016, in which the currency fell around 6% in a matter of minutes before recovering, the pound is now at its lowest level since 1985.Brexit is facing a crucial few days as lawmakers challenge Prime Minister Boris Johnson’s insistence that the U.K. will leave the European Union on Oct. 31 even without a deal.Parliament is returning from its summer recess Tuesday with a key piece of legislation on its agenda that would prevent an immediate no-deal exit. If it passes, Johnson’s Downing Street office says he’ll call an early election, with uncertain consequences.___8:50 a.m.Opposition parties are challenging Prime Minister Boris Johnson’s insistence that the U.K. will leave the European Union on Oct. 31 even without a deal, setting up a pivotal day in British politics.Parliament is returning from its summer recess Tuesday with a key piece of legislation on its agenda that would prevent an immediate no-deal exit. If it passes, Johnson’s Downing Street office says he’ll call an early election.A no-deal Brexit is considered dangerous because it will sever decades of seamless trade with the single market of 500 million, but Johnson insists the potential for leaving without a deal must remain as a bargaining chip in negotiations with the EU.The bloc is adamant it will not renegotiate the agreement struck with former Prime Minister Theresa May, which Johnson considers unacceptable.The Associated Press read more

Pics 100000 cigarettes in unmarked boxes seized in Munster

first_imgREVENUE COMMISSIONERS AND Gardaí have seized 100,000 illegal cigarettes on the border between Limerick and Tipperary.The search operation was carried out this afternoon as part of an investigation into smuggling.The Jin Ling and Golden Seagiies cigarettes, which had a retail value of €47,000, were discovered in unmarked brown boxes in a Ford Transit van which was stopped near Castleconnell.The van was seized and the driver, a man in his 30s from outside of Ireland, was arrested and taken for questioning at Nenagh Garda Station.A file is being prepared for the DPP. All pics via Revenue CommissionersRead: Over 40 million cigarettes were seized last year >last_img