- Thomson Reuters
1. Brexit negotiations risk stalling if Britain does not present a realistic solution for the future of the Irish border after London rejected an EU proposal last week, European Council President Donald Tusk said.“While we must respect this position, we also expect the UK to provide a specific and realistic solution to avoid a hard border. As long as the UK doesn’t present such a solution, it is very difficult to imagine substantial progress in Brexit negotiations,” Tusk said.
2. Dutch lender ING outraged politicians and unions with a proposal to increase the pay of Chief Executive Ralph Hamers by 50%. Finance minister Wopke Hoekstra said the rise was “excessive,” while members of parliament called for a public hearing to hold ING Chairman Jeroen van der Veer to account.
3. Saudi Arabia’s Crown Prince Mohammed bin Salman met the head of the Anglican church in London. He promised to promote interfaith dialogue as part of his domestic reforms.
4. Italy’s inconclusive parliamentary election leaves open a wide range of possible alliances, putting the anti-establishment 5-Star Movement in the driver’s seat as the largest party. The election is a political sea change for Italy, with voters shunning the parties that have governed the country in recent years, including the center-left Democratic Party and Silvio Berlusconi’s center-right Forza Italia.
5. Japan’s SoftBank Group is considering raising around $5 billion of loans though its UK-based tech firm ARM Holdings. SoftBank acquired ARM, Britain’s most valuable technology company, for $32 billion in 2016 in an all-equity deal and is now looking to optimize the investment and take some cash out.
6. Drivers for Uber in the Czech Republic will need to get business certificates and be licensed, the country’s prime minister said. Taxi drivers in the capital Prague have staged large protests against the company, which has also faced opposition to its low-cost service in other cities across the world.
7. Mexico’s Economy Minister Ildefonso Guajardo said he would not allow the United States to use planned tariffs on steel and aluminum imports to pressure the country in ongoing NAFTA talks.US President Donald Trump plans to offer Canada and Mexico a 30-day exemption from the planned tariffs.
8. French President Emmanuel Macron said he wanted France to supplant Britain as New Delhi’s partner of choice in Europe, as he embarked on a four-day tour of India. Macron, a pro-business centrist who swept to power last year, has been beating the drum for France as a new, modernized “startup nation” on the world stage, while he pushes ahead with a wide-ranging program of reforms at home.
9. Global fisheries output will slump by 20% by 2300 and by 60% in the worst-hit North Atlantic region if governments fail to slow long-term global warming.Most studies of climate risks extend to 2100 and overlook extra “catastrophic effects” such as the projected slump in ocean life that would only emerge in coming centuries, they said.
10. Walt Disney said its shareholders, in a non-binding vote, rejected the executive compensation plan for Chief Executive Bob Iger and other executives. Fifty-two percent of the shareholders voted against Disney’s compensation plan, according to preliminary results announced at the company’s annual shareholder meeting.