UK's credit rating has been cut over concerns about the country's public finances and fears Brexit could damage the country's economic growth. Moody's, one of the major ratings agencies, downgraded the UK to an Aa2 rating from Aa1.
Theresa May will tell EU leaders there is a shared responsibility to make Brexit work “smoothly” as she attempts to break the deadlock in negotiations. In a major speech in Florence on Friday, she will say history will judge Brexit “not for the differences we faced, but for the vision we showed”.
Theresa May is expecting Boris Johnson to remain in her Cabinet as Foreign Secretary, Downing Street has said. The comment came after Mr. Johnson dismissed reports that he might be on the verge of quitting and denied the Cabinet is split over Brexit, insisting: “We are a nest of singing birds.”
The British Foreign Secretary Boris Johnson has sent warm wishes to the Jewish community as they prepare to celebrate Rosh Hashanah, the Jewish New Year. Johnson said that every New Year is a time for reflection.
Argentine vice-president Gabriela Michetti ratified before the United Nations General Assembly her country's “legitimate and imprescriptible” sovereignty rights over the disputed Falkland/Malvinas Islands and made a new call on the United Kingdom to resume “bilateral negotiations”
Any increases in UK interest rates in the coming months will be “gradual” and “limited”, the Bank of England governor Mark Carney has said, but “some withdrawal of monetary stimulus is likely to be appropriate over the coming months” to help return inflation to its 2% target.
The Scottish government is to outline plans to amend the legislation taking the UK out of the European Union. The Scottish and Welsh governments call the EU withdrawal bill currently under consideration at Westminster a power grab of devolved responsibilities, and have worked together to draw up amendments as a direct challenge to the UK government's legislation.
Spain’s Minister for Foreign Affairs, Alfonso Dastis, sought to reassure cross-border workers during a visit to La Linea, insisting Madrid would work to minimize the impact of Brexit on Spanish citizens, “and very especially those from the Campo and La Linea” who cross every day to Gibraltar.
Liberal Democrat leader Sir Vince Cable has insisted he is a credible candidate to be the next prime minister. Despite heading a party with just 12 MPs, Sir Vince said he could replace Theresa May in Downing Street.
Business leaders have voiced concern about the slow pace of Brexit negotiations, warning it could affect a constructive exit from the EU. BusinessEurope, an umbrella group representing business federations across Europe, said companies needed certainty and time to prepare for future arrangements.