Europe

Surge in ticket sales for European ferries after Brexit delay | Travel – Business Article

Ferry services to Europe have reported a ticket sales rise of more than 50% as holidaymakers book summer breaks after Brexit was delayed. Holidaymakers had been warned of potential difficulties travelling to the continent, especially by car and ferry, in the event of a no-deal Brexit. The decision to put Britain’s date of departure from the European Union back from 29 March to at least the end of May, and possibly 31 October, has unleashed a wave of ticket sales.…

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Facebook and Twitter could be blocked in Russia in data storage row | World news – Business Article

Russia could block access to Facebook and Twitter if the social media companies fail to fulfil its demand to move data on Russian users to servers located within the country, officials have warned. Alexander Zharov, the head of Roskomnadzor, Russia’s communications watchdog, said the western companies had nine months to bring their operations in line with Russian internet security laws. “They’ve been given time to comply,” he said. A law approved in 2014 by Russia’s president, Vladimir Putin, requires domestic…

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Hammond plays down Brexit delay increasing chance of second vote | Politics – Business Article

Philip Hammond has played down the possibility that the UK could use the delay to Brexit to hold a second referendum and stressed that he still expects Britain to leave the European Union. Speaking in Washington, the chancellor said time would be too tight to hold a confirmatory vote before the new deadline of the end of October unless it was triggered over the coming weeks. Hammond said the damage caused by continued uncertainty – including problems attracting suitable candidates…

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La dolce vita slips away again as Italy tumbles back into recession | Business – Business Article

Sharing his predictions on the economy less than a month ago, Luigi Di Maio, the Italian deputy prime minister, believed the country was on the cusp of an economic miracle akin to the one enjoyed in the 1960s. “During that period we built highways, now we can build digital highways,” he enthused. His comments were met with derisive laughter. There was even less to laugh about on Thursday when figures revealed that Italy, which is saddled with a public debt…

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UK consumers shun credit cards as Brexit looms – business live | Business – Business Article

French riot police clash with Yellow Vests protesters at the Place de la Bastille Photograph: Alfred Photos/SIPA/REX/Shutterstock Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With gloom gathering over Europe, France has given the eurozone a much-needed boost by beating growth forecasts for the last quarter. French GDP expanded by 0.3% during October-December, new figures show, crushing fears that growth could have fallen to just 0.1%. That matches France’s…

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Pound falls after Commons vote spurs no-deal Brexit fears | Business – Business Article

The pound fell sharply on the foreign exchanges after MPs failed to seize control of the Brexit negotiations from Theresa May in order to rule out a no-deal departure from the EU. Sterling dropped by more than a cent against the US dollar to its lowest point of the day after a series of votes in the House of Commons were seen as increasing the prospect of Britain leaving without an agreement on 29 March. The pound has been rising…

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UK cannot simply trade on WTO terms after no-deal Brexit, say experts | Politics – Business Article

The UK will be unable to have frictionless, tariff-free trade under World Trade Organization rules for up to seven years in the event of a no-deal Brexit, according to two leading European Union law specialists. The ensuing chaos could double food prices and plunge Britain into a recession that could last up to 30 years, claim the lawyers who acted for Gina Miller in the historic case that forced the government to seek parliament’s approval to leave the EU. It…

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