S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20

UK says time running out for solution in Brexit trade talks

Saturday, October 23, 2021 | Jill Lawless, Associated Press


In this Wednesday, Dec. 9, 2020 file photo,the Union Flag and European Union flags flap in the wind prior a meeting between European Commission President Ursula von der Leyen and British Prime Minister Boris Johnson at EU headquarters in Brussels. Across the English Channel, Brexit supporters in British politics and the media often depict a conniving EU, deeply hurt by the U.K.'s decision to leave, and doing its utmost to make Brexit less than a success by throwing up bureaucratic impediments. (AP Photo/Francisco Seco, File)

LONDON (AP) — The British government tried Saturday to speed up the pace of talks to resolve post-Brexit trade troubles with the European Union, saying the two sides remain far apart and time is running out to bridge the gap.

U.K. and EU negotiators have met in Brussels over the past week to try and resolve major differences that have erupted over trade rules for Northern Ireland. The talks move to London on Tuesday, and Britain says “substantial gaps on the fundamental issues remain.”

The U.K. government said talks so far had been “constructive” but added that “we need to see real progress soon rather than get stuck in a process of endless negotiation because the issues on the ground in Northern Ireland haven’t gone away.”

Northern Ireland, which is part of the U.K. and shares a border with EU member Ireland, remains inside the EU’s tariff-free single market for goods, even though the U.K. left the 27-nation bloc at the end of 2020.

That special status ensures there is an open border on the island of Ireland — a key pillar of Northern Ireland’s peace process since the 1998 Good Friday accord. But it means a new customs border in the Irish Sea for goods entering Northern Ireland from the rest of the U.K., even though they are part of the same country.

That has brought red tape for businesses, and caused problems with some goods reaching Northern Ireland. EU rules on chilled meats led to a brief sausage shortage, and now Britain claims that Christmas crackers — festive noisemakers that are a holiday party staple — are being prevented from reaching Northern Ireland.

The new arrangements have also angered Northern Ireland’s British Unionists, who say the checks undermine Northern Ireland’s place in the U.K. and destabilize the delicate political balance on which peace rests.

The EU accuses Britain of trying to renegotiate a legally binding agreement that it signed less than a year ago; some officials say it shows the U.K. government can't be trusted. The bloc has, however, agreed to make changes to the deal, offering to reduce checks on food, plants and animals entering Northern Ireland by as much as 80% and to cut paperwork for transport companies in half.

Britain has welcomed those proposals, but also is demanding that the EU’s top court be stripped of its role resolving any disputes over the agreement and replaced with independent arbitration — an idea the bloc flatly rejects.

Chief negotiators Maros Sefcovic of the EU and David Frost for Britain are due to meet in London at the end of next week to assess the talks' progress. Britain on Saturday repeated a threat to trigger an emergency break clause that lets either side suspend the agreement in extreme circumstances if there is no breakthrough soon.

That would bring legal action from the EU, and potentially economic sanctions that could spiral into a trade war. Any such battle is likely to hurt the economy of the U.K. more than the much bigger EU.

Irish Foreign Minister Simon Coveney also warned that talks couldn't go on forever, and urged Britain on Friday to respond to the EU’s willingness to compromise.

“I think the EU has shown a real appetite for compromise, and they have consciously avoided creating tension,” he said. “I can’t say the same in terms of the British government’s approach.

“I don’t think it will be the case forever, that the EU will be in compromise and solutions mode.”

___

Follow AP’s coverage of post-Brexit developments at https://apnews.com/hub/Brexit


7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down

For the better part of the last year, Congress has had “big tech” in its crosshairs. But the reasons why largely depend on what side of the aisle a particular individual was on.

On the one hand, there are politicians who are concerned about the role that technology companies play in restricting the free flow of information. On the other hand, there are politicians that are concerned about these companies' stranglehold on competitors and innovation.

But big tech scored an important, albeit not final, victory in late June. At that time, a U.S. judge dismissed two separate complaints against Facebook (NASDAQ:FB). The question in front of the judge was whether Facebook held a monopoly on social media. Due to a surge in the company’s stock price after the ruling, Facebook became a member of the exclusive $1 trillion market cap club. While big tech companies will remain under the Congressional microscope, there’s no denying that investors are looking at the ruling as a signal to rotate back into tech stocks. And that’s the focus of this presentation. What tech stocks should you be buying as anti-trust pressure eases?

It would be easy to start and end the list with the FAANG stocks. After all, the motto “Keep it Simple Stupid” comes to mind. There are simply those companies that offer products that are changing our lives now and will continue to do so in the future. And furthermore, customers will continue to pay for their products.

And I do have a couple of these stocks on my list. But the bulk of the stocks on this list are less expensive alternatives to at least one of the FAANG stocks. It doesn’t mean they’re superior companies, but a rising tide tends to lift all boats. And that means these companies have a large upside and you can purchase the stocks for a lot less.

View the "7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down".


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