Sterling dropped 0.3 percent on the day against the dollar Thursday morning after Brexit negotiators declared talks between the U.K. and the European Union had reached a deadlock. The euro was trading at £0.9010, up by 0.5 percent, at about 12 p.m. London time (7 a.m. ET) — the U.K. currency hasn’t been at 90 […]

Oil prices are unlikely to reach $60 per barrel anytime soon as hawkish forecasters continue to ignore the “elephant in the room”, a senior economist told CNBC Wednesday. Daniel Lacalle, chief economist and investment officer at Tressis Gestion, said: “The bulls of the oil market are missing the elephant in the room which is efficiency […]

A family-owned pub in the north east of England has been named the “best restaurant in the world” based on an international poll of customer reviews. The Black Swan in Oldstead, North Yorkshire, fended off rival restaurants owned by celebrity TV chefs in Britain like Heston Blumenthal and Raymond Blanc. TripAdvisor awarded the prize to […]

Madrid’s eight-day deadline for Catalonia to drop its independence bid could prove to be fruitless, according to political analysts, who believe that pro-separatist Catalan President Carles Puigdemont will not back down. Speaking in the Spanish capital on Wednesday, Prime Minister Mariano Rajoy warned that if the Catalan government refused, he would suspend the region’s autonomy […]

European leaders were set to give the greenlight to start trade talks with the U.K. next week but now this might not happen until December, officials and analysts have told CNBC. A lack of progress in the negotiations is increasing the uncertainty for businesses and citizens, who both need to cement their post Brexit-plans as […]

European bourses look set to open in the red Thursday morning, with investors awaiting data and monitoring speeches from central bankers at the International Monetary Fund’s (IMF) annual meeting in Washington D.C. The German DAX is seen down by 7 points at 12,964. The U.K. FTSE is expected to begin the day’s trading down by […]

An opponent of Catalan independence has said fresh elections will be the only way to break the current impasse between supporters of independence and authorities in Madrid. Albert Rivera, president of the Ciudadanos party, told CNBC Wednesday that current President of Catalonia, Carles Puigdemont, could not stay in his position if progress is to be […]

Big banks have no advantage over financial technology start-ups when it comes to artificial intelligence, a former Barclays chief executive has said. Antony Jenkins, who led the bank between 2012 and 2015, said that banks have a tendency to focus on mainframe data storage rather than seeking solutions on the cloud. “I think the biggest […]

The negotiations to leave the European Union are hurting the British economy by putting it under a “cloud of uncertainty,” the U.K.’s finance minister said in parliament on Wednesday. The U.K. “is fundamentally robust” and there are “some very positive things going on, with a strong outlook for the future,” Philip Hammond said. But he […]

U.S. President Donald Trump will make a working visit to Britain in early 2018, with a full state visit to follow later at an unspecified date, the London Evening Standard newspaper reported on Wednesday. Prime Minister Theresa May‘s office declined to comment on the visit, and said its position on the state visit had not […]