Pound near 20-month low amid Brexit uncertainty, ahead of UK jobs data – business live

Pound near 20-month low amid Brexit uncertainty, ahead of UK jobs data – business live

Rolling coverage of the latest economic and financial news, as Brexit chaos weighs on the pound

  • Introduction: Sterling near 20-month lows this morning
  • Coming up: UK unemployment data at 9.30am

Here’s a handy guide to what on earth’s going on….

Related: Brexit chaos: what happens next?

‘What fresh Brexit hell is this?’: what the papers say about May’s cancelled vote https://t.co/cXnDmT76gH

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

The pound is in the eye of a big political storm this morning, after Brexit took another dramatic and surreal twist yesterday.

As the week progresses markets will be keeping a very close eye on whether May has the ability to renegotiate with Brussels in a bid to save the deal, if she will end up facing a leadership challenge, or the possibility of a second Brexit referendum.

With the chaos in Westminster raising the likelihood of a no-deal Brexit scenario, the British Pound is in trouble.

Today around 1pm @jeremycorbyn has been granted an emergency SO24 debate, the motion is critical of the PMs unprecedented decision to postpone the meaningful vote without a vote of the Commons or allow a vote on the deal or inform her new proposed negotiating objectives. pic.twitter.com/xkZHlNRY7W

Last roll of dice for ERG Brexiters. @SteveBakerHW very publicly calling for Tory MPs to put in letters of no confidence in @theresa_may (on Today). If they fail to go in now, she must be safe in office till after that 29 March Brexit date

Mrs May has postponed the vote to seek further assurances on the back stop agreement whilst others may want a renegotiated back stop or in a best case a complete removal. A hard exit would inevitably mean a hard border with Northern Ireland, which is likely to make life difficult moving forward with the potential for a complete and damaging reversal of the Good Friday agreement.

The priority is now to get some sense of what MP’s from all sides of the house will accept before May can attempt to broker a further solution. With so much noise and confusion on the subject, investors and markets are in a state of possible lock down as we await further clarity and a majority of opinion.

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Two nuns admit embezzling school funds for Las Vegas gambling trips

Two nuns admit embezzling school funds for Las Vegas gambling trips

Church officials say pair took ‘substantial’ sum from St James school near Los Angeles

Two nuns who worked at a Catholic school in California have admitted embezzling a “substantial” sum of money to pay for gambling trips to Las Vegas, church officials have said.

Sisters Mary Margaret Kreuper and Lana Chang are believed to have taken the money from a fund holding tuition fees and donations at St James school in Torrance, near Los Angeles. Neither has been charged with a crime.

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‘Love knows no borders’: Agents arrest 32 as religious leaders gather at US border

‘Love knows no borders’: Agents arrest 32 as religious leaders gather at US border

More than 400 demonstrators, many religious leaders and activists, came together calling for an end to detention and deportation of migrants

Kneeling in front of riot police, 32 religious leaders and activists were arrested at the US border fence in San Diego on Monday during a protest in support of the Central American migrant caravan.

More than 400 demonstrators, many leaders of churches, mosques, synagogues and indigenous communities, called for an end to detention and deportation of migrants and for the United States to welcome the caravan that arrived in Tijuana, Mexico in November.

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