Raab argues for “conditionality” on Brexit deal
The UK’s secretary of state for exiting the European Union, Dominic Raab, has said that payment of the so-called divorce bill requires the EU to agree to a trade deal. “You can’t have one side fulfilling its side of the bargain and the other side not,” Raab said in the Telegraph. “I think we do need to make sure that there’s some conditionality between the two.” But according to Business Insider, auditor general Sir Amyas Morse has said that the £39 billion financial settlement will become legally binding as soon as both parties sign the Withdrawal Treaty.
China investigates stainless steel imports
Reuters reports that China’s commerce ministry has launched a probe into imports of some stainless steel products from the EU, as well as from Japan, South Korea and Indonesia. The announcement on Monday stems from a complaint by manufacturer Shanxi Taigang, which accounts for 25-35 percent of China’s stainless production. Reuters says annual imports of the products under investigation were up almost 200% in 2017.
EU reaffirms digital tax plans
European Commissioner for economic and financial affairs Pierre Moscovici has said the EU will push ahead with a turnover tax on digital companies before the end of the year. Cited by Reuters at a meeting of G20 finance ministers and central bankers in Argentina, Moscovici said companies like Google, Facebook and Amazon had “to pay their fair share of tax, because basically what we are talking about here is fairness.”
Rees-Mogg firm sets up 2nd Dublin fund
Somerset Capital Management, the firm co-founded by hard-line Brexit supporter Jacob Rees-Mogg, has set up a second investment fund in Ireland according to The Guardian. The firm says that the decision to domicile the fund in Dublin “had absolutely nothing to do with Brexit.”
UN finds Sri Lanka's reform inadequate
A United Nations report on human rights in Sri Lanka has concluded that progress towards reconciliation and a fair judicial system had virtually ground to a halt, writes The Guardian. “None of the measures so far adopted to fulfil Sri Lanka’s transitional justice commitments are adequate to ensure real progress,” the report states.
Maltese PM cleared in Panama Papers probe
A year-long investigation into money laundering and fraud stemming from the release of the Panama Papers has cleared Joseph Muscat and his wife. The allegations against the Maltese prime minister were made on the blog of investigative journalist Daphne Caruana Galizia, who was killed by a car bomb last year.
Italian wins thrilling Open
Francesco Molinari became the first Italian to win golf’s British Open on Sunday after a dramatic last round in which several players were in contention. Molinari shot a final round 69 to leave him on 8 under par, two shots ahead of a trio of players. Paired with Tiger Woods (on of a trio that finished on -5), Molinari was cited in The Guardian as saying: “I was calm--you know, as calm as you can be playing in the last round of a major close to the lead, playing with Tiger. I focused on my process and on hitting good shots and on playing smart golf.”
Özil quits international football
German footballer Mesut Özil has announced he will no longer play for the national team. A star of the World Cup winning team of 2014, Özil disappointed at this year’s tournament. Sky Sports says Özil blames the German football federation and others for criticism he and teammate Ilkay Gündoğan faced after posing with Turkey President Recep Tayyip Erdogan. “People with racially discriminative backgrounds should not be allowed to work in the largest football federation in the world that has players from dual-heritage families,” he said in a statement.
Today's breakfast briefing was written by Duncan Roberts