Weekend stories of note

US

House Ways & Means Committee Chair Brady stated that the House will not accept total elimination of state and local tax deductions.

EUROPE

Spanish PM Rajoy called on Spanish companies not to leave Catalonia. He stated that "together we must protect the ties that unite us.” (Newswires)

DBRS Confirms Greece at CCC (high), Trend Changed to Positive

DBRS Confirms Kingdom of Sweden at AAA, Stable Trend
 

UK/BREXIT

Brexit Secretary Davis stated that he still believes that a trade deal with the EU can be negotiated within the given timeframe. (Newswires)

Chief EU Brexit Negotiator Barnier noted that the EU is preparing for possible collapse of Brexit talks. (Newswires)

Sources suggest that 40 Conservative MP’s are calling for UK PM May to step down. (Newswires)

Sources suggest that UK PM May is facing a rebellion from pro-European Tory MPs who have vowed to vote against her "crass" plans to enshrine the date the Britain leaves the European Union in law. (Newswires)

Sources suggest that a menacing secret memo from Boris Johnson & Michael Gove to UK PM May dictating terms for a hard Brexit has triggered a new Cabinet rift. (Newswires)

Britain must not cave in to EU demands for a bigger Brexit divorce bill after Brussels set a two-week deadline for the UK to concede, allies of Boris Johnson have warned. (Newswires)

Germany's EU bill to rise by 16% post-Brexit, says new report. (Newswires)

Reports suggest that US banks are preparing 'stop gap' Brexit plans to avoid moving London jobs. (Newswires)

UK Chancellor Hammond targets VAT shake-up which would raise up to GBP 2bln per year. (Newswires)
 

GEOPOLITICS


Over the weekend US President Trump tweeted that “President Xi of China has stated that he is upping the sanctions against North Korea. Said he wants them to denuclearize. Progress is being made.”

North Korea noted that US President Trump’s rhetoric will never stop North Korea from pursuing nuclear programme. (Newswires)

Reports suggest that US President Trump has offered to mediate over the South China sea dispute.  (Newswires)

Chinese President Xi & Japanese PM Abe agree to more collaboration. (Newswires)

US President Trump & Russian President Putin have agreed to continue joint efforts in order to defeat Islamic State, and agreed that there is no military solution for the Syrian conflict. Reports suggested that the two did not discuss north Korea. (Newswires)

On Friday the Canadian trade minister noted that TPP nations have made good progress on reaching a deal. (Newswires)

Reports suggest that the Saudi King is not going to be stepping down. (Newswires)

The Arab league is set to hold an urgent meeting on Iran at Saudi Arabia's request. (Newswires)
Lebanon’s PM is withdrawing resignation conditional on Hezbollah committing to remaining neutral, but reports have suggested that he is to resign in Beirut. (Newswires)


COMMODITIES


A 7.2 magnitude earthquake has hit Iraq, oil facilities are un damaged according to initial statements. (Newswires)

A pipeline explosion led to Saudi Arabia ceasing oil pumping to Bahrain briefly over the weekend, although flows have now resumed. (Newswires) 

Yemen Houthis have threatened to attack warships & oil tankers if ports stay closed. (Newswires)
 

12 Nov 2017 - 22:15- EnergyGeopolitical- Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: