Theresa May to affirm Brexit vision in Florence speech

Conor Coyle WebFG News | 14 Sep, 2017 12:57 - Updated: 12:59 | | |


Theresa May will make a major Brexit speech next week in the Italian city of Florence, Downing Street has confirmed as rumours swirled about what possible intervention the Prime Minister might make.

The latest round of Brexit negotiations have been delayed ahead of May’s speech, in which she is expected to give an update on how the discussions are progressing.

Some have suggested that May make a significant announcement regarding the progress of the talks, after the EU’s chief negotiator Guy Verhofstadt said last week said May had planned an "important intervention".

“The PM has said that she would provide updates on how the negotiations were going and be engaged in an ongoing conversation with Europe, and that’s what she’s doing,” a Downing Street spokesman said.

The latest round of Brexit negotiations have been delayed ahead of May’s speech

EU representatives have accused Brexit secretary David Davis and his team of ‘backtracking’ on its commitments, including an exit payment to be delivered to the bloc.

“She will underline the government’s wish for a deep and special partnership with the European Union once the UK leaves the EU,” the spokesperson added.

May’s speech will not run alongside any other events in Florence, with May travelling to Italy solely to deliver the speech.

Talks between the two sides had been scheduled to recommence next week, but were shifted back and it is unclear whether May’s speech was the direct cause of the delay.

The speech is expected to include fresh details about the future relationship May wants with the EU, the Telegraph reported, but will not talk about how much money the UK is prepared to pay for the so-called “divorce bill”.

There were also reports in the Financial Times that May's European speech would see her set out proposals for a “no cliff-edge” Brexit transition deal, before delivering a tougher message at the Conservative party conference that her final goal was to deliver a “clean” Brexit.

More news

18:36 Numis sticks to 'hold' on Entertainment One after strong first half performance

Analysts at Numis Securities said "robust progress" evident in Canadian entertainment company Entertainment One's first-half trading results led it to the reiteration of its 'hold' rating and target price.

18:28 Europe close: Shares end near session highs

Stocks finished near their best levels of the day, possibly influenced by the latest German poll results which might help coax the country's politicians to return to the negotiating table in order to help thrash out a stable government coalition - or face the voters again.

18:08 Faroe Petroleum issues $100m senior, unsecured bond in Nordic bond market

The independent oil and gas company, Faroe Petroleum, announced on Tuesday the issue of a $100m senior, unsecured bond in the Nordic bond market, in an attempt to strengthen the company's balance sheet.

17:56 FX round-up: UK trade budget widens as greenback trades on the backfoot

Data out for the UK on Tuesday showed an unexpectedly wider budget deficit, while in the US, the dollar weakened 0.17% to 93.923 against a basket of currencies.

18:02 London close: FTSE higher on the day as UK deficit widens unexpectedly

Shares closed higher on Tuesday as data revealed an unexpected widening of the UK deficit ahead of the Autumn Budget.

17:38 Improved Asia-Pacific trading puts Spirax-Sarco in line with full-year targets

Industrial engineer Spirax-Sarco stayed on track to hit full-year expectations as sales in the four months leading to 31 October were boosted by growth in Asia Pacific, though offered limited visibility for 2018 due to the usual short-term nature of its order book.

17:27 US open: S&P 500 and Nasdaq Composite at fresh record highs

The S&P 500 and tech-laden Nasdaq Composite are pushing to fresh record highs amid a 'bullish' call on stocks out of Goldman and against a backdrop of supportive economic data.

17:04 JPMorgan upgrades ITV as European broadcaster concerns 'overstated'

UK broadcaster ITV was boosted by an upgrade from investment bank JPMorgan Cazenove, which views the European sector as markedly undervalued by the market, with addressable-TV a development that "will transform TV" for advertisers.

16:52 Investec cuts water company price target due to nationalisation threat

United Utilities could be forced to slash its dividend from 2020 due to new regulation, warned Investec, leading it to downgrade its rating on the water company, and cut target prices across the sector.

17:48 Robert Mugabe resigns as president of Zimbabwe

President Mugabe has handed in a written letter of resignation, putting a halt to impeachment hearings, the speaker of Zimbabwe's parliament said on Tuesday.