Disorderly Brexit bill
The UK’s economy could receive an even bigger hit than during the financial crisis of 2008 if there is a chaotic no-deal Brexit, euronews reports. It cites the Bank of England which warned the economy could shrink by 8% and there would be a 25% drop in the value of sterling, while house prices would fall around 30%. The Guardian examines the agenda and steps ahead in the Brexit deal. Politico ran with the bleak headline “UK worse off under all Brexit scenarios” but found some optimism in the Bank of England’s report, saying British banks are strong enough to withstand a global recession or disorderly Brexit.
Trump’s wall threats
US President Donald Trump would be willing to shut down the government if he doesn’t get the $5 b needed for his wall on the US-Mexico border, Politico reports. Citing an interview with Trump at the Oval Office, the article recalls that Democrat leaders would approve just $1.6 b for the wall. The wall was among Trump’s election pledges back in 2016. Reuters reports on the squalid living conditions in which migrants in Tijuana are forced to live. The Guardian reports on the federal agency responsible for asylum-seeking children separated from parents at the border, saying it uses information gleaned from the children to build cases for deporting US-based relatives.
Rohingya camps on remote island
An exclusive story published in The Guardian reveals concrete camps being built for Rohingya on sediment island, Basan Char, in Bangladesh in a bid to relocate refugees. Footage secretly shot at the site shows “prison-like” concrete breeze block rooms measuring 2m x 2.5 m with small, barred windows and one bathroom per block. It cites Human Rights Watch as warning the island’s isolation would “turn the island into a detention centre”.
The 5%
5% of EU companies have female board chairs, according to the European Gender Diversity Index, which analysed 200 companies listed on the Stoxx Europe 600. Politico reports the top companies for female board representation were French: Kering (60%), Sodexo (53.8%) and hotel group Accord (50%). The FT took the French angle, saying Paris hit its quota of 40% of females on boards for companies listed on the CAC 40 by 2017. It further examines the city’s strategy.
Secret luxury homes
The Financial Times publishes a report on how the ultra-rich hide their properties, through off-market sales. This discretion could become a thing of the past under new UK anti-money laundering measures in which the government published a list of “beneficial owners” of companies, including property owners. Meanwhile, in January 2018, the UK introduced unexplained wealth orders to explain how owners were able to afford assets worth £50,000 or more if their declared income seems too low.
Chess champ Carlsen
Norway’s Magnus Carlsen won the World Chess Championship beating US player Fabiano Caruana after a three-week deadlock. The reigning champion beat Caruana in the first three games in a best-of-four tie-breaker. Euronews reports the win will go down in history coming after 12 classic chess games between the two ended in a draw.