Brexit

Theresa May triggers Brexit Article 50

UK Prime Minister Theresa May has triggered the formal two-year process of negotiations that will lead to Britain leaving the European Union after 44 years in a process popularly known as Brexit. A letter invoking Article 50 of the Lisbon Treaty and officially notifying the EU of Britain’s decision to[…]

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Rand recovering against pound amid Brexit

The rand has seen a 25% recovery against the British pound since January, after Britain voted to leave the European Union on June 24. “The rand has certainly been doing well,” said RMB analyst John Cairns on Monday. “The fall in (the pound to rand exchange rate) has been the[…]

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UN urges UK to end xenophobic attacks after Brexit vote

The United Nations raised alarm as a series of racist incidents against minorities and foreigners were reported in the United Kingdom, following the country’s decision to leave the European Union. Zeid Ra’ad al-Hussein, UN High Commissioner for Human Rights, said on Tuesday that “racism and xenophobia are unacceptable in any[…]

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Online petition not enough for 2nd #Brexit referendum

Brits disappointed with the UK’s referendum results will not be getting a second chance at voting, as UK’s Electoral Commission said that an online petition that gathered 3.7 million signatures was not enough to trigger a second referendum. The online petition carries no legal authority, the Electoral Commission ruled, after[…]

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Brexit re-vote petition signed 3.5mn times amid fraud probe

UK authorities are investigating a highly-popular anti-Brexit petition after “discovering” tens of thousands of fraudulent signatures. The petition platform’s lack of identity check raises concerns the vast majority of 3.5 million signs could be fake. Britain’s House of Commons Petition Committee announced on Sunday that it has removed around 77,000[…]

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Rand to remain volatile on Brexit victory – analysts

Analysts were shocked on Friday to see the rand dive more than the day President Jacob Zuma fired former finance minister Nhlanhla Nene as the UK voted to leave the European Union. Rand Merchant Bank analyst John Cairns was alarmed that the currency’s losses against the dollar had swung between[…]

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