Strained start to Salzburg summit
EU and UK leaders appear to remain miles apart on a Brexit deal following a dinner in Salzburg on Wednesday evening The Guardian reports. UK prime minister Theresa May, who is not invited to Thursday’s summit of the remaining EU 27, told her counterparts that “extending or delaying these negotiations is not an option” even though there remains a gulf in the UK and EU positions on the question of the Irish border post-Brexit. May said the idea of the UK separating into two customs unions was “not credible”. But EU leaders Jean-Claude Juncker and Donald Tusk both remain sceptical and suggested that a deal was a long way off and that different scenarios (i.e. a no deal) were still possible.
WTO offers to mediate between US and China
World Trade Organization director general Roberto Azevêdo has said the WTO has “dedicated itself” to forcing the US and China into a dialogue as he becomes “very concerned” about the escalating trade war between the two countries. Reuters reports that Azevêdo said, somewhat cryptically, that both countries “have lots of ammunition and [the dispute] can expand to other areas beyond just tariffs ... and trade.”
Danske Bank boss quits over scandal
Thomas Borgen resigned as the chief executive of Danske Bank on Wednesday after revelations of what the FT has called “one of the largest money laundering scandals ever uncovered.” Suspect payments totalling some €200 billion had flowed through the bank’s Estonian branch. Borgen, 54, was cited on Reuters as saying that even though he has been exonerated legally, he holds responsibility. “There is no doubt that we as an organization have failed in this situation and did not live up to expectations,” he told a press conference.
Ryanair’s British shareholders under threat
Irish budget airline Ryanair has said it may restrict the voting rights of all non-EU shareholders if there is no transition deal in place after Brexit, according to the BBC. The airline’s annual general meeting takes pace in Gormanston in Ireland on Thursday. But The Guardian reports that several influential investors in the airline plan to vote against its management amid concerns about how the company is run.
Colombia cocaine production high
The United Nation’s Office on Drugs and Crime reports that coca cultivation in Colombia reached the highest ever recorded figure of 171,000 hectares last year. The UNODC country report for 2017 says that the potential production of cocaine has a value of $2.7 billion in the local market.
HMS Endeavour discovery claim
The Sydney Morning Herald broke the news on Wednesday that marine archaeologists believe they have found the wreck of the HMS Endeavour, the ship that James Cook captained on his voyage to Australia. The discovery, off the east coast of the US, raises hopes that the vessel can be excavated in time for the 250th anniversary of Cook’s landing in Botany Bay in April 1770.
"Cathay Paciic" typo
Cathay Pacific managed to laugh at itself on Twitter after plane spotters in the airline’s home base of Hong Kong published images of one of its Boeing 777-367 planes emblazoned with the “f” missing from its logo. Tweeting a photo of the “Cathay Paciic” plane, the airline wrote: “Oops this special livery won’t last long! She’s going back to the shop!”
Today's breakfast briefing was written by Duncan Roberts