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Stephen Barclay has been named UK's new Brexit secretary on November 16, 2018

BEN STANSALL | AFP | Getty Images

Stephen Barclay has been named UK’s new Brexit secretary on November 16, 2018

The spokesman said that May herself would personally oversee the last 10 days of negotiations with the EU on the future framework, and that Barclay would focus on the domestic preparedness for Brexit and getting May’s draft withdrawal agreement through parliament.

Barclay replaced Dominic Raab who quit as Brexit minister on Thursday over May’s draft plan for leaving the EU.

Former interior minister Amber Rudd was appointed as work and pensions minister, replacing Esther McVey who also resigned over May’s Brexit deal.

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Macron expected to promise economic change but is it too late?

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PARIS, FRANCE - NOVEMBER 24: The french gilets jaunes protest turns out to be a revolution against President Macron today as thousands riot on the Champs Elysees on November 24, 2018 in Paris, France.

PHOTOGRAPH BY Kiran Ridley / Barcroft Images (Photo credit should read Kiran Ridley / Barcroft Media via Getty Images)

Barcroft Media | Barcroft Media | Getty Images

PARIS, FRANCE – NOVEMBER 24: The french gilets jaunes protest turns out to be a revolution against President Macron today as thousands riot on the Champs Elysees on November 24, 2018 in Paris, France.

PHOTOGRAPH BY Kiran Ridley / Barcroft Images (Photo credit should read Kiran Ridley / Barcroft Media via Getty Images)

One coordinator of the “yellow vest” protests, Thierry Paul Valette, told reporters on Saturday that Macron’s announcement would be too little, too late.

“(Macron) must provide answers. They are late, unfortunately, they are late and the reality is that when he presents these measures some yellow vests will go home as they will be satisfied, but right now there are a lot of people who simply want the president to resign. It’s too late, the game is set and those people will stay on the streets.”

The government had already said that it would delay planned fuel tax increases for six months but then later went further by dropping them from the 2019 budget altogether. Still, that has failed to halt protests. In the fourth weekend of demonstrations on Saturday, around 125,000 were estimated to have protested around France.

In Paris, 10,000 demonstrators were believed to have taken to the streets with some throwing stones, torching cars and vandalizing shops and restaurants. Over 1,000 people were taken into custody and 264 were injured (including 39 police officers), the Interior Ministry said in a tweet on Saturday.



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Zopa, a UK P2P lender, plans more funding in 2019 as it opens a bank

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U.K. peer-to-peer lender Zopa plans on raising more money in 2019 as it looks to open up its own bank, its boss told CNBC.

The financial technology start-up recently obtained a banking license from Britain’s financial regulator, on the back of a £60 million ($76.5 million) funding round it closed last month.

“We will be looking to raise additional capital in 2019,” Zopa Chief Executive Jaidev Janardana told CNBC in an exclusive interview. “The focus of that (will be) to raise the regulatory capital to fund the growth of (our) balance sheet.”

Zopa’s chief said the firm would seek the additional investment from the private markets, and that it would look into how to go about raising the extra capital “early next year.” He didn’t comment further on how Zopa intended to raise the funds or how much it would seek to raise.

The company is considered to be one of the world’s first peer-to-peer lenders, having launched in 2005, ahead of U.S. rival LendingClub’s 2007 launch and domestic enterprise-focused competitor Funding Circle’s 2010 launch. Peer-to-peer lending is a method of financing where borrowers are connected with investors through an online platform.

The fintech firm is looking to launch a fixed-term savings product, a credit card and a money management app after the U.K.’s Financial Conduct Authority granted it permission to operate a bank.

Zopa’s banking license is currently at a “mobilization” phase, the firm said on Tuesday, with restrictions placed on it by the FCA. It will need to meet a set of conditions laid out by the watchdog before it is granted a full banking license.

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Steven Mnuchin under consideration to be next Trump chief of staff

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U.S. President Donald Trump, with Secretary of Treasury Steven Mnuchin, displays a signed financial services Executive Order during a ceremony in the US Treasury Department building.

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U.S. President Donald Trump, with Secretary of Treasury Steven Mnuchin, displays a signed financial services Executive Order during a ceremony in the US Treasury Department building.

Treasury Secretary Steven Mnuchin is one of the advisors to President Donald Trump under consideration to be the next White House chief of staff, according to two people with direct knowledge of the matter.

Yet Mnuchin has indicated to his inner circle that he feels best served as the head of Treasury, according to these people, who spoke on the condition of anonymity due to the privacy of the ongoing discussions.

Even so, according to a source close to the Treasury secretary, some of Trump’s family members are pushing for Mnuchin as a possible replacement for the departing John Kelly, who is set to leave the administration by the end of the year after an often-chaotic time in the job.

It’s unclear whether Trump himself has spoken with Mnuchin about becoming his next chief of staff. There are other names being mentioned in reports as potential replacements for Kelly, but it’s not clear whether any of them are in position to take the role.

Mnuchin, a former Goldman Sachs executive, is one of the members of the administration who is considered to be more in favor of free trade, as opposed to hawks such as trade advisor Peter Navarro. Mnuchin’s potential move to chief of staff would come amid crucial trade talks with China. Markets, however, could see Mnuchin’s move away from Treasury as a potentially destabilizing action.

The New York Times had reported that Mnuchin was a possible contender for the chief of staff job.

Mnuchin’s spokesman declined to comment. White House press secretary Sarah Huckabee Sanders did not respond to requests for comment.

White House budget chief Mick Mulvaney and U.S. Trade Representative Robert Lighthizer, the president’s chief trade negotiator, are also reportedly on the short list.

Lighthizer had said in an interview with CBS’ “Face the Nation” on Sunday that he had not been asked to replace Kelly.

On Sunday, Nick Ayers, the chief of staff to Vice President Mike Pence who had been the favorite to replace Kelly, announced he would be departing the administration at the end of the year.

People close to Ayers said he could go back to leading Pence’s political action committee, the Great America Committee.

Kelly, who had a tumultuous tenure since taking over the role in summer 2017, had committed to staying through the 2020 election.

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