Support for UK PM Mays handling of Brexit falls to record low

HSBC's building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London

HSBC's building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London

The EU is working day and night with Britain to secure a deal on Brexit.

Liam Fox, who's in charge of global trade in the government, says the odds that Britain will come out of the European Union without any kind of special arrangements or deal are now 60-40.

A Ministry of Defence source said 60 percent of new army vehicles would be made in the United Kingdom creating 1,000 jobs. After reporting a 5 percent rise in first-half profit before tax, the lender said it remains cautiously optimistic for global growth in the remainder of the year.

"I think the intransigence of the commission is pushing us towards no deal", he said.

May's office said it's "confident" of striking a deal, while Brexit Secretary Dominic Raab told France's Les Echos on Friday that he sees no alternative to striking a deal.

He said Mr Barnier had dismissed the UK's proposals in the Chequers plan thrashed out by Theresa May and the Cabinet simply because "we have never done it before".

It's not a prospect business and markets relish, though.

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This morning Downing Street sought to clarify Fox's remarks.

The prime minister has just a few months before an agreement on Britain's divorce from the European Union, set for March 29, 2019, must be forged in principle ahead of the EU summit in mid-October.

The global trade secretary and Brexiteer put the chance of failing to come to an agreement at "60-40".

No. 10 insists the government remains confident it can get a good deal.

May on Friday cut short her holiday in Italy for a meeting with French President Emmanuel Macron. The EU is acting as one in these negotiations and refusing to compromise even if it is in the interests of both sides for it to do so.

"Our negotiating advantages are meaningless without leadership courageous enough for the task", wrote Patel, often touted in the United Kingdom press as a potential contender in any future leadership contest to succeed May.

Prior to this, the pound stumbled after foreign secretary Boris Johnson resigned on July 9th, increasing the possibility of a no-deal Brexit.

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