Sterling falls as Brexit talks between the UK's two main parties collapse - CNBC

Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom.

Stefan Wermuth | WPA Pool | Getty Image

Hopes that the U.K.'s two largest political parties can hash out a Brexit agreement have ended.

Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Labour leader Jeremy Corbyn wrote in a letter to Prime Minister Theresa May on Friday that talks had "gone as far as they can go" and his party will now oppose her Brexit proposal.

Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced as prime minister had undermined talks.

"The increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us," he said.

As skepticism grew over a cross-party deal, the pound has embarked on nine straight sessions of losses versus the euro, marking the longest unbroken run of losses this century. Versus the dollar it dipped to $1.2760 on Friday, marking a four-month low. This after almost reaching $1.34 as recently as March.

It is now expected that the U.K. government will put various options, known as indicative votes, to Parliament instead. The last time lawmakers in the lower house of Parliament — the House of Commons — held such a series of votes on Brexit there was no majority preference for any outcome.

According to ITV's political editor, a document shows that Prime Minister Theresa May will hold these indicative votes next week, before the EU parliamentary elections.

One of the motions that the government would reportedly like to put to a vote would ask members to agree that any deal should not be subject to a second Brexit referendum.

Speaking on BBC Radio Friday, the chair of a cross-party committee designed to probe the Brexit process said a failure of talks meant a second vote would be more likely.

"There are only two ways out of the Brexit crisis that we've got: Either parliament agrees a deal, or we go back to the British people and ask them to make the choice," Hilary Benn said.

"This brings the prospect of a confirmatory referendum closer, although there's not yet a majority for that in parliament," he added.

May's attempts to agree a deal with Labour appears to have been the final straw for lawmakers within her own party who are demanding that she spell out her resignation date.

On Thursday, May met with a powerful committee of MPs (Member of Parliament) within her own party, with reports suggesting that she has been told to depart by June 30 at the latest.

May must have passed her withdrawal deal before this date in order avoid British members of the European Parliament  taking up their seats.So far she has failed on three attempts to get a majority of lawmakers to back her deal.

A large number of Conservative candidates are in the race to be the next U.K. leader but bookmakers put the former Foreign Secretary Boris Johnson as favorite. Johnson confirmed his candidacy on Thursday.

Johnson, a supporter of Brexit, has been hugely critical of May's attempts to agree a deal and has said that Britain has "nothing to fear" from leaving the trading bloc.

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https://www.cnbc.com/2019/05/17/sterling-falls-as-brexit-talks-break-down.html

2019-05-17 10:26:07Z
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Sterling falls as Brexit talks between the UK's two main parties collapse - CNBC

Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom.

Stefan Wermuth | WPA Pool | Getty Image

Hopes that the U.K.'s two largest political parties can hash out a Brexit agreement have ended.

Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Labour leader Jeremy Corbyn wrote in a letter to Prime Minister Theresa May on Friday that talks had "gone as far as they can go" and his party will now oppose her Brexit proposal.

Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced as prime minister had undermined talks.

"The increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us," he said.

As skepticism grew over a cross-party deal, the pound has embarked on nine straight sessions of losses versus the euro, marking the longest unbroken run of losses this century. Versus the dollar it dipped to $1.2760 on Friday, marking a four-month low. This after almost reaching $1.34 as recently as March.

It is now expected that the U.K. government will put various options, known as indicative votes, to Parliament instead. The last time lawmakers in the lower house of Parliament — the House of Commons — held such a series of votes on Brexit there was no majority preference for any outcome.

According to ITV's political editor, a document shows that Prime Minister Theresa May will hold these indicative votes next week, before the EU parliamentary elections.

One of the motions that the government would reportedly like to put to a vote would ask members to agree that any deal should not be subject to a second Brexit referendum.

Speaking on BBC Radio Friday, the chair of a cross-party committee designed to probe the Brexit process said a failure of talks meant a second vote would be more likely.

"There are only two ways out of the Brexit crisis that we've got: Either parliament agrees a deal, or we go back to the British people and ask them to make the choice," Hilary Benn said.

"This brings the prospect of a confirmatory referendum closer, although there's not yet a majority for that in parliament," he added.

May's attempts to agree a deal with Labour appears to have been the final straw for lawmakers within her own party who are demanding that she spell out her resignation date.

On Thursday, May met with a powerful committee of MPs (Member of Parliament) within her own party, with reports suggesting that she has been told to depart by June 30 at the latest.

A large number of Conservative candidates are in the race to be the next U.K. leader but bookmakers put the former Foreign Secretary Boris Johnson as favorite. Johnson confirmed his candidacy on Thursday.

Johnson, a supporter of Brexit, has been hugely critical of May's attempts to agree a deal and has said that Britain has "nothing to fear" from leaving the trading bloc.

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2019-05-17 09:46:24Z
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Sterling falls as Brexit talks between the UK's two main parties collapse - CNBC

Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom.

Stefan Wermuth | WPA Pool | Getty Image

Hopes that the U.K.'s two largest political parties can hash out a Brexit agreement have ended.

Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Labour leader Jeremy Corbyn wrote in a letter to May on Friday that talks had "gone as far as they can go" and his party will oppose Prime Minister Theresa May's Brexit proposal.

Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced as prime minister had undermined talks.

"The increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us."

As skepticism grew over a cross-party deal, the pound has embarked on nine straight sessions of losses versus the euro, marking the longest unbroken run of losses this century. Versus the dollar it dipped to $1.2760 on Friday, marking a four-month low. This after almost reaching $1.34 as recently as March.

It is now expected that the U.K. government will put various options, known as indicative votes, to Parliament instead. The last time lawmakers in the lower house of Parliament — the House of Commons — held such a series of votes on Brexit there was no majority preference for any outcome.

According to ITV's political editor, a document shows that Prime Minister Theresa May will hold these indicative votes next week, before the EU parliamentary elections.

One of the motions that the government would reportedly like to put to a vote would ask members to agree that any deal should not be subject to a second Brexit referendum.

Speaking on BBC Radio Friday, the chair of a cross-party committee designed to probe the Brexit process said a failure of talks meant a second vote would be more likely.

"There are only two ways out of the Brexit crisis that we've got: Either parliament agrees a deal, or we go back to the British people and ask them to make the choice," Hilary Benn said.

"This brings the prospect of a confirmatory referendum closer, although there's not yet a majority for that in parliament," he added.

May's attempts to agree a deal with Labour appears to have been the final straw for lawmakers within her own party who are demanding that she spell out her resignation date.

On Thursday, May met with a powerful committee of MPs (Member of Parliament) within her own party, with reports suggesting that she has been told to depart by June 30 at the latest.

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https://www.cnbc.com/2019/05/17/sterling-falls-as-brexit-talks-break-down.html

2019-05-17 09:46:17Z
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Taiwan legalizes same-sex marriage in historic first for Asia - CNN

The vote came almost two years after the island's Constitutional Court ruled that the existing law -- which said marriage was between a man and a woman -- was unconstitutional. The panel of judges gave the island's parliament two years to amend or enact new laws.

On Friday -- only a week off the two-year deadline -- lawmakers in Taiwan's Legislative Yuan passed a bill making same-sex marriage a reality. It will go into effect on May 24.

Although the island has a large gay community and its annual gay pride parade is the biggest in Asia, the issue of marriage equality has bitterly divided Taiwanese society. In a controversial referendum in November last year, 67% voted to reject same-sex marriage.

In recent months conservative groups have campaigned against same-sex marriage reform, pushing for a law that would see gay marriages redefined as something closer to same-sex unions.

Tens of thousands of people braved pouring rain Friday to demonstrate in favor of same-sex marriage outside the parliament, as lawmakers began voting on three draft bills, one tabled by the country's Cabinet -- which would ultimately prove successful -- and two watered-down rival bills tabled by conservative groups.

The successful Cabinet bill was the only one to use the word "marriage." It was backed by LGBTQ groups, despite the fact it could see same-sex couples denied rights enjoyed by hetrosexual couples, such as adoption and cross-national marriage.

Wu Tzu-an, a 33-year-old gay artist from Taipei, was among the crowds outside the parliament celebrating Friday.

"Today the result was the best we got for this stage," said Wu. "It's also a sign to show that Taiwan was different from China," he added, referring to mainland China where same-sex marriage has not been legalized. "Personally I don't have plans to get married, but I think it's a sign for equality."

Xiaogang Wei, who heads the Beijing Gender Health Education Institute, called the bill's passing a historic moment, not only for Asia but for the global LGBTQ rights movement.

"It will have a very positive impact on China's LGBT community, offering us a lot of hope," he told CNN.

"The Chinese government has pointed to cultural tradition as a reason for same-sex marriage being unsuitable in China. But the decision in Taiwan, which shares a cultural tradition with us, proves that Chinese culture can be open, diverse and progressive."

After the vote, Taiwan's President Tsai Ing-wen tweeted: "We took a big step towards true equality, and made Taiwan a better country."

Longtime struggle

Friday's decision has been a long time in the making.

In 2015, veteran gay rights activist Chi Chia-wei -- who has spent 30 years fighting for marriage equality -- filed a request to the Constitutional Court asking for a ruling on an article in the island's civil code stating that marriage is between a man and a woman.

The Taipei city government filed a similar request the same year after three same-sex couples lodged an administrative lawsuit against the government when their marriage registrations were rejected, CNA reported.

In 2017, the court ruled the law violated the constitution.

Lawmakers were given a two-year deadline, but reached a deadlock. Taiwan's gay marriage opponents seized the opportunity to put forward a referendum asking voters whether they agreed with same-sex marriage.

Taiwan Alliance to Promote Civil Partnership Rights executive director Victoria Hsu, who represented Chi during his case, said she expected attitudes towards LGBTQ people to improve after the bill as they would see that heterosexual families "wouldn't lose anything."

But Hsu -- who plans to register her marriage with her partner of six years when the bill takes effect next Friday -- said more still needed to be done to make LGBTQ people truly equal.

"The fight is not over, but we will continue from this brand-new start," she added.

Amnesty International Taiwan's acting director Annie Huang agreed, saying: "The Taiwanese government must not stop here. It needs to act to eliminate all forms of discrimination on the grounds of sexual orientation, gender identities and intersex status."

LGBTQ rights in Asia

Taiwan's vote sets it apart from other parts of Asia where LGBTQ rights have regressed.

In mainland China, where homosexuality is legal but prejudices and discrimination against LGBT people persist under Communist Party rule, an author of same-sex erotic fiction was sent to jail for 10 years in November.

In April, the ruler of the tiny, oil-rich kingdom of Brunei announced he would introduce death by stoning for those convicted of gay sex. Sultan Hassanal Bolkiah has since said the death penalty will not be imposed, although he did not repeal the law.

In Indonesia, declining secularism has led to deepening discrimination against the country's gay, lesbian and transgender communities. Last year, two men accused of being gay received 87 lashes for gay sex in the country's conservative Aceh province.

More than two dozen countries around the world allow gay marriage, according to Pew Research.

CNN's Steven Jiang in Beijing contributed to this report.

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https://www.cnn.com/2019/05/17/asia/taiwan-same-sex-marriage-intl/index.html

2019-05-17 09:27:00Z
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Taiwan legalizes same-sex marriage in a historic first for Asia - CNN

The vote came almost two years after the island's Constitutional Court ruled that the existing law -- which said marriage was between a man and a woman -- was unconstitutional. The panel of judges gave the island's parliament two years to amend or enact new laws.

On Friday -- only a week off the two-year deadline -- lawmakers in Taiwan's Legislative Yuan passed a bill making same-sex marriage a reality. It will go into effect on May 24.

Although the island has a large gay community and its annual gay pride parade is the biggest in Asia, the issue of marriage equality has bitterly divided Taiwanese society. In a controversial referendum in November last year, 67% voted to reject same-sex marriage.

In recent months conservative groups have campaigned against same-sex marriage reform, pushing for a law that would see gay marriages redefined as something closer to same-sex unions.

Tens of thousands of people braved pouring rain Friday to demonstrate in favor of same-sex marriage outside the parliament, as lawmakers began voting on three draft bills, one tabled by the country's Cabinet -- which would ultimately prove successful -- and two watered-down rival bills tabled by conservative groups.

The successful Cabinet bill was the only one to use the word "marriage." It was backed by LGBTQ groups, despite the fact it could see same-sex couples denied rights enjoyed by hetrosexual couples, such as adoption and cross-national marriage.

Wu Tzu-an, a 33-year-old gay artist from Taipei, was among the crowds outside the parliament celebrating Friday.

"Today the result was the best we got for this stage," said Wu. "It's also a sign to show that Taiwan was different from China," he added, referring to mainland China where same-sex marriage has not been legalized. "Personally I don't have plans to get married, but I think it's a sign for equality."

Xiaogang Wei, a leading LGBT rights advocate in China who heads the Beijing Gender Health Education Institute, called the bill's passing a historic moment, not only for Asia but for the global LGBTQ rights movement.

"It will have a very positive impact on China's LGBT community, offering us a lot of hope," he told CNN.

"The Chinese government has pointed to cultural tradition as a reason for same-sex marriage being unsuitable in China. But the decision in Taiwan, which shares a cultural tradition with us, proves that Chinese culture can be open, diverse and progressive."

After the vote, Taiwan's President Tsai Ing-wen tweeted: "We took a big step towards true equality, and made Taiwan a better country."

LGBTQ rights in Asia

Taiwan's vote sets it apart from other parts of Asia where LGBTQ rights have regressed.

In mainland China, where homosexuality is legal but prejudices and discrimination against LGBT people persist under Communist Party rule, an author of same-sex erotic fiction was sent to jail for 10 years in November.

In April, the ruler of the tiny, oil-rich kingdom of Brunei announced he would introduce death by stoning for those convicted of gay sex. Sultan Hassanal Bolkiah has since said the death penalty will not be imposed, although he did not repeal the law.

In Indonesia, declining secularism has led to deepening discrimination against the country's gay, lesbian and transgender communities. Last year, two men accused of being gay received 87 lashes for gay sex in the country's conservative Aceh province.

More than two dozen countries around the world allow gay marriage, according to Pew Research.

CNN's Steven Jiang in Beijing contributed to this report.

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https://www.cnn.com/2019/05/17/asia/taiwan-same-sex-marriage-intl/index.html

2019-05-17 08:18:00Z
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Taiwan legalizes same-sex marriage in a historic first for Asia - CNN

The vote came almost two years after the island's Constitutional Court ruled that the existing law -- which said marriage was between a man and a woman -- was unconstitutional. The panel of judges gave the island's parliament two years to amend or enact new laws.

On Friday -- only a week off the two-year deadline -- lawmakers in Taiwan's Legislative Yuan passed a bill making same-sex marriage a reality. It will go into effect on May 24.

Although the island has a large gay community and its annual gay pride parade is the biggest in Asia, the issue of marriage equality has bitterly divided Taiwanese society. In a controversial referendum in November last year, 67% voted to reject same-sex marriage.

In recent months conservative groups have campaigned against same-sex marriage reform, pushing for a law that would see gay marriages redefined as something closer to same-sex unions.

Tens of thousands of people braved pouring rain Friday to demonstrate in favor of same-sex marriage outside the parliament, as lawmakers began voting on three draft bills, one tabled by the country's Cabinet -- which would ultimately prove successful -- and two watered-down rival bills tabled by conservative groups.

The successful Cabinet bill was the only one to use the word "marriage." It was backed by LGBTQ groups, despite the fact it could see same-sex couples denied rights enjoyed by hetrosexual couples, such as adoption and cross-national marriage.

Wu Tzu-an, a 33-year-old gay artist from Taipei, was among the crowds outside the parliament celebrating Friday.

"Today the result was the best we got for this stage," said Wu. "It's also a sign to show that Taiwan was different from China," he added, referring to mainland China where same-sex marriage has not been legalized. "Personally I don't have plans to get married, but I think it's a sign for equality."

Xiaogang Wei, a leading LGBT rights advocate in China who heads the Beijing Gender Health Education Institute, called the bill's passing a historic moment, not only for Asia but for the global LGBTQ rights movement.

"It will have a very positive impact on China's LGBT community, offering us a lot of hope," he told CNN.

"The Chinese government has pointed to cultural tradition as a reason for same-sex marriage being unsuitable in China. But the decision in Taiwan, which shares a cultural tradition with us, proves that Chinese culture can be open, diverse and progressive."

After the vote, Taiwan's President Tsai Ing-wen tweeted: "We took a big step towards true equality, and made Taiwan a better country."

LGBTQ rights in Asia

Taiwan's vote sets it apart from other parts of Asia where LGBTQ rights have regressed.

In mainland China, where homosexuality is legal but prejudices and discrimination against LGBT people persist under Communist Party rule, an author of same-sex erotic fiction was sent to jail for 10 years in November.

In April, the ruler of the tiny, oil-rich kingdom of Brunei announced he would introduce death by stoning for those convicted of gay sex. Sultan Hassanal Bolkiah has since said the death penalty will not be imposed, although he did not repeal the law.

In Indonesia, declining secularism has led to deepening discrimination against the country's gay, lesbian and transgender communities. Last year, two men accused of being gay received 87 lashes for gay sex in the country's conservative Aceh province.

More than two dozen countries around the world allow gay marriage, according to Pew Research.

CNN's Steven Jiang in Beijing contributed to this report.

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https://www.cnn.com/2019/05/17/asia/taiwan-same-sex-marriage-intl/index.html

2019-05-17 07:48:00Z
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Taiwan passes same-sex marriage bill, becoming first in Asia to do so - CNN

The vote came almost two years after the island's Constitutional Court ruled that the existing law -- which said marriage was between a man and a woman -- was unconstitutional. The panel of judges gave the island's parliament two years to amend or enact new laws.

On Friday -- only a week off the two-year deadline -- lawmakers in Taiwan's Legislative Yuan passed a bill making same-sex marriage a reality. It will go into effect on May 24.

Tens of thousands of people braved pouring rain Friday to demonstrate in favor of same-sex marriage outside the parliament, where lawmakers were voting on three draft bills, one tabled by the country's Cabinet -- which would ultimately prove successful -- and two watered-down rival bills tabled by conservative groups.

The successful Cabinet bill was backed by LGBTQ groups, despite the fact it creates a law different to straight marriage. For instance, under Cabinet's bill, a Taiwanese person could not marry foreigners from countries where same-sex marriage is not legal.

Thousands turned of gay rights activists, many bearing umbrellas, rainbow flags and rainbow placards, gathered in heavy rain in the capital Taipei in support of marriage equality.

Ahead of the vote, Taiwan's President Tsai Ing-wen tweeted: "Today we have a chance to make history and show the world that progressive values can take root in an East Asian society."

Although the island has a large gay community and its annual gay pride parade is the biggest in Asia, the issue of marriage equality has divided Taiwanese society. In a controversial referendum in November last year, 67% voted to reject same-sex marriage.

In recent months conservative groups have campaigned against same-sex marriage reform, pushing for a law that would see gay marriage legislation redefined as same-sex unions.

LGBTQ rights in Asia

Taiwan's vote sets it apart from other parts of Asia where LGBTQ rights have regressed.

In mainland China, where homosexuality is legal but prejudices and discrimination against LGBT people persist under Communist Party rule, an author of same-sex erotic fiction was sent to jail for 10 years in November.

In April, the ruler of the tiny, oil-rich kingdom of Brunei announced he would introduce death by stoning for those convicted of gay sex. Sultan Hassanal Bolkiah has since said the death penalty will not be imposed, although he did not repeal the law.

In Indonesia, declining secularism has led to deepening discrimination against the country's gay, lesbian and transgender communities. Last year, two men accused of being gay received 87 lashes for gay sex in the country's conservative Aceh province.

More than two dozen countries around the world allow gay marriage, according to Pew Research.

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https://www.cnn.com/2019/05/17/asia/taiwan-same-sex-marriage-intl/index.html

2019-05-17 06:10:00Z
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