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Brexit trade

Brexit trade talks: Deal can and must be made, says CBI boss – BBC News

Carolyn Fairbairn

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Dame Carolyn will step down as CBI boss in November

A post-Brexit trade deal “can and must be made”, the organisation representing British businesses has said ahead of further UK-EU trade talks on Monday.

Dame Carolyn Fairbairn, the boss of the Confederation of British Industry, said it was the time for “the spirit of compromise to shine through”.

The Brexit transition period, in which the UK has kept to EU trading rules, ends on 31 December.

The UK and EU are yet to agree a deal that will govern their future trade.

Prime Minister Boris Johnson has said a trade agreement with the EU must be done by 15 October if it is going to be ready for the start of 2021.

But despite this, talks have run into problems. There are still key points of disagreement – including, for example, on fishing.

The next official round of talks – the ninth since March – begins on 28 September.

The CBI carried out a survey of 648 companies which found only 4% said they would prefer no deal to be agreed on trade.

And half of firms said the impact of dealing with the coronavirus had negatively affected their preparations for next year, when the transition period ends.

“Next week Brexit talks enter the 11th hour,” said Dame Carolyn. “Now must be the time for political leadership and the spirit of compromise to shine through on both sides. A deal can and must be made.

“Businesses face a hat-trick of unprecedented challenges – rebuilding from the first wave of Covid-19, dealing with the resurgence of the virus and preparing for significant changes to the UK’s trading relationship with the EU.”

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Media captionWhy is it so hard to reach a Brexit deal?

She added: “A good deal will provide the strongest possible foundation as countries build back from the pandemic.

“It would keep UK firms competitive by minimising red tape and extra costs, freeing much-needed time and resource to overcome the difficult times ahead.”

According to BBC Europe editor Katya Adler, one EU diplomat said the two sides were “90% there” on agreeing technical issues.

The diplomat said the “remaining 10% is political” and “if that can’t be solved, then the 90% is irrelevant”.

Any trade agreement will aim to eliminate tariffs and reduce other trade barriers. It will also aim to cover both goods and services.

If negotiators fail to reach a deal, the UK faces the prospect of trading with the EU under the basic rules set by the World Trade Organization (WTO).

If the UK has to trade under WTO rules, tariffs will be applied to most goods which UK businesses send to the EU.

This would make UK goods more expensive and harder to sell in Europe. The UK could also do this to EU goods, if it chooses to.

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proving trade

’18 trade with Jets proving to be ‘great move’ by Colts – Fox 59

INDIANAPOLIS – Chris Ballard sent more than a few shockwaves across the NFL landscape March 17, 2018. Holding the 3rd overall pick in the draft, he wanted to add more than one lottery pick to the Indianapolis Colts’ roster.

What to do? Swing a deal with the New York Jets that would deliver a generational guard, two other starters and a pair of backups, that’s what.

Frank Reich, still settling in as the Colts’ new head coach, trusted Ballard’s judgment.

“That’s what he’s hired to do,’’ he said earlier this week. “He’s hired to lead this ship in that regard. Now, he didn’t just say, ‘Hey, we’re going to move back three spots.’ There were a whole lot of other conversations with that. ‘Here’s why. Here’s what we think is going to happen.’

“I just trusted Chris and turned out to be a great move.’’

The Jets moved up to grab their quarterback of the future: Sam Darnold. The jury remains out whether he’s the answer. He brings an 11-17 record as a starter when the Jets meet the Colts Sunday at Lucas Oil Stadium.

The Colts? As Reich mentioned, a great move.

For the 3rd overall pick, Ballard received the 6th overall pick, two second-rounders in the 2018 draft and a ‘19 second-rounder. That package turned into All-Pro guard Quenton Nelson, starting right tackle Braden Smith, defensive end Kemoko Turay, running back Jordan Wilkins and starting cornerback Rock Ya-Sin (the ’19 second-rounder).

Guards seldom demand a ton of attention during the early portion of the draft. The last time the Colts had taken a guard in round 1 was Ron Solt in 1984. The last time a true guard had been selected with a top-6 pick was Jim Dombroski by the New Orleans Saints in ’86.

“I 100 percent agreed with Chris on this,’’ Reich said. “For this big of a move, both in the trading back and the drafting of a guard, I think it’s appropriate to say that it was probably good that the GM and the head coach both 100 percent agreed that this is a generational player.

“That was the case in evaluating Quenton.’’

Nelson has met or exceeded everyone’s expectations. He’s started all 36 games, including the playoffs, and injected a nasty edge into the offensive line. He’s the first offensive lineman and just the seventh player since the 1970 merger to be selected first-team All-Pro in each of his first two seasons.

Reich has witnessed Nelson’s dominance on the practice field and in games. He frequently just shakes his head at how Nelson goes about his business.

“What they say about great players is they make the difficult things look easy,’’ Reich said. “Quenton has been doing that for three years. I mean with regularity. You just come to expect it.’’

Milestone for the Maniac

The magnitude of the accomplishment didn’t make a serious impact on Darius Leonard.

There should be more, insisted the Maniac, the Colts’ ultra-productive linebacker.

The accomplishment: with six tackles in last Sunday’s win over the Minnesota Vikings, Leonard pushed his career total to 300. He’s the only player since at least 1987 to pile up that many in his first 30 games.

The numbers whirled in his mind. He did the math.

“That’s 10 tackles a game,’’ Leonard said on a Thursday Zoom conference call. “That’s not my standard. I’m 15 tackles or more a game. If I didn’t do that, I didn’t have a great game.’’

Leonard has eclipsed his lofty standard only twice in his career – 19 tackles at Washington, 17 against Buffalo, both as rookie – but has piled up double-digit tackles 15 times. He’s had at least 13 tackles in each of his two postseason games.

It’s the total body of work that demands attention. He was NFL Defensive Rookie of the Year in 2018 after setting a franchise record with an NFL-leading 163 tackles. He was second-team All-Pro as a rookie, a first-team selection in ’19. He’s the first player since at least 1982 to generate 10-plus sacks and five-plus interceptions in his first 25 games.

You can follow Mike Chappell on Twitter at @mchappell51.

Listen to the Colts Blue Zone Podcast for weekly coverage and analysis of the Indianapolis Colts.

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Jaguars trade

Jaguars agree to trade DE Yannick Ngakoue to Vikings – ESPN

6:41 AM ET

  • ESPN News Services

The Jacksonville Jaguars have agreed to trade franchise defensive end Yannick Ngakoue to the Minnesota Vikings for a 2021 second-round draft pick and a conditional 2022 fifth-round draft pick that could go as high as a third-round pick, league sources told ESPN’s Adam Schefter.

Ngakoue still has to sign his franchise tender, but the trade is now in place and he is expected to join the Vikings.

Sources said the fifth-round pick becomes a fourth-round pick if Ngakoue goes to the Pro Bowl this season and a third-round pick if Ngakoue is a Pro Bowler and the Vikings win the Super Bowl.

Ngakoue, 25, and the Jaguars will have to coordinate when he is going to sign his franchise tender Sunday so he can be traded to the Vikings. Because Ngakoue did not sign the tender before the July 15 deadline, he must play this season under the tag, valued at $17.8 million, before he can sign a long-term deal.

Sources said Ngakoue will restructure his one-year deal with the Vikings to create more cap space. The Vikings entered Sunday with approximately $12.9 million in cap space, according to the Roster Management System.

He will give the Vikings a young, proven pass-rusher opposite Danielle Hunter, one whose work ethic and intensity have always been among the most respected in Jacksonville’s locker room. Ngakoue also should ease the loss of four-time Pro Bowler Everson Griffen, who signed a one-year deal with the Dallas Cowboys earlier this month.

Ngakoue — whom the Jaguars drafted in the third round in 2016 — has been unhappy with the team since July 2019, when then-executive vice president of football operations Tom Coughlin abruptly broke off negotiations with Ngakoue’s camp. The Jaguars reportedly offered Ngakoue a deal that would pay him $19 million annually, but the pass-rusher turned it down and he played the 2019 season — after an 11-day training camp holdout — for $2.025 million, a considerable bargain for a player who had racked up 29.5 sacks in his first three seasons.

He suffered a hamstring injury early in the season that limited his production but still finished with eight sacks in 2019 and ranks second in Jaguars history with 37.5 after only four seasons. In addition, his 14 forced fumbles from 2016 to 2019 rank fourth in the league behind only Chandler Jones (17), Khalil Mack (17) and T.J. Watt (15).

Ngakoue also was directly responsible for five of the 12 defensive touchdowns the Jaguars have scored since 2016: a pick-six, a fumble return and three forced fumbles on sacks that other players recovered for TDs. Another forced fumble resulted in a touchdown in the 2017 playoffs.

He had been vocal about his dissatisfaction with the Jaguars, especially on social media, and his desire to play elsewhere. He announced in March via Twitter that he told the team he wasn’t going to sign a long-term deal and in April went on a Twitter tirade against Tony Khan, the son of owner Shad Khan and the team’s senior vice president of football administration and technology.

Ngakoue is the second starter in the past year to essentially force his way out of Jacksonville. Pro Bowl cornerback Jalen Ramsey seemingly faked a back injury to get traded to the Los Angeles Rams in October.

He also is the latest piece of Jacksonville’s 2017 defense, which helped the team make the AFC Championship Game, to hit the road. Ngakoue, Calais Campbell, A.J. Bouye, Marcell Dareus, Ramsey, Malik Jackson, Tashaun Gipson, Barry Church and Dante Fowler — a list that includes seven former Pro Bowlers — have been traded or cut in the past two years.

Jacksonville selected Ngakoue’s replacement, Josh Allen from Kentucky, with the seventh overall pick in the 2019 draft and added pass-rusher K’Lavon Chaisson this year. Allen had 44 tackles, 10½ sacks and two forced fumbles as a rookie and made the Pro Bowl as an alternate.

The Jaguars are loaded for the 2021 draft, in which many expect Clemson quarterback Trevor Lawrence to be the No. 1 pick. According to ESPN’s Football Power Index, the Jaguars have a 24% chance to get the top pick, the highest percentage in the league.

Jacksonville is now scheduled to have six picks in the first four rounds — two first-round picks, a second, a third and two fourths.

ESPN’s Michael DiRocco and The Associated Press contributed to this report.

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Apple trade

How should you trade the Apple and Tesla stock splits? – Seeking Alpha

There could be some excitement tomorrow around two of the market’s favorite stocks.

Apple (NASDAQ:AAPL) begins trading after a 4-for-1 split at $125.50/share, while Tesla (NASDAQ:TSLA) starts trading on a 5-for-1 split-adjusted basis at $443.40/share.

While the market caps of the companies will remain the same, some are saying the moves will make shares “more accessible to a broader base of investors” and therefore a new catalyst for the “Retail Bros.”

Others say it could lead to some profit-taking, with traders cashing in on a record run following the recent split announcements.

Apple: Since the company’s split disclosure on Jul. 30, shares have jumped 30%, nearly half of the 70% gain the stock registered YTD. This marks Apple’s fifth stock split as a public company. Apple conducted a seven-for-one split on June 9, 2014, and two-for-one splits on June 16, 1987, June 21, 2000, and Feb. 28, 2005. Had Apple never split its stock, shares would currently sell for around $28,000. Apple has also been the most influential stock in the DJIA, but its split will change that starting Monday.

Tesla: Shares of the EV maker have jumped 61% since Aug. 11 (when is announced a split), building on an already impressive surge this year that saw shares surge more than 400% and hitting 33 record closes in the process. The rally has also boosted the company’s market valuation to around $409B, and made it the eighth biggest company in the U.S. by market cap.

Should you buy/sell at the new levels? Price targets? Other forecasts? Comment below.

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FOREX-Dollar trade

FOREX-Dollar, euro trade cautiously ahead of key Fed speech – Reuters

* Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E

* Traders expect dovish tone from Fed’s Powell

* U.S. durable goods orders seen slowing in July

* Yuan rises toward seven-month high on trade deal relief

By Julien Ponthus

LONDON, Aug 26 (Reuters) – The dollar and the euro traded cautiously on Wednesday as investors refrained from taking risky bets a day ahead of a key speech by Federal Reserve Chairman Jerome Powell.

Amid growing speculation Powell could unveil a softer policy stance towards inflation at the annual Jackson Hole retreat on Thursday, investors are bracing for the Fed’s possible new steps to prop up the U.S. economy.

“Either the Chairman drops something juicy for “reflationistas” (aka USD bears) or the USD rips higher for a few weeks”, Stephen Innes, chief global markets strategist at AxiCorp, wrote in a morning note.

“I would never bet against the Fed sounding dovish during an easing cycle”, he added.

The dollar index, which tracks the greenback’s value against a basket of currencies was up 0.16% at 93.11 after taking a hit on Tuesday following data showing U.S. consumer confidence tumbling to the lowest in more than six years.

Data later on Wednesday is forecast to show growth in U.S. durable goods orders slowed in July, highlighting policymakers’ concerns about the economy.

“A softer-than-expected figure should revive the Fed doves, while a better-than-expected read would improve the investor mood, but should not have a material impact on dovish Fed expectations as it is clear to everyone that the economy needs sustained support for posting good results,” Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, told her clients.

Against the euro, the dollar stood at $1.1818 following a 0.4% decline in the previous session.

The yuan rose toward a seven-month high at $6.8969 after U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal, which eased concerns about a diplomatic standoff between the world’s two-largest economies.

The British pound bought $1.3141 having risen 0.7% against the dollar on Tuesday.

Sterling has managed to shrug off a lack of progress in trade negotiations between Britain and the European Union.

The dollar was locked into a narrow range against the yen, last trading at $106.32.

The Australian dollar was little changed at $0.7198 as traders monitored a coronavirus flare-up in the state of Victoria. (Reporting by Julien Ponthus; Editing by Christopher Cushing)

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Facebook trade

How to Trade Facebook Stock as Companies Boycott Advertising – TheStreet

Facebook  (FB) – Get Report was hammered on Friday, falling more than 8%. On Monday the selling pressure continued, with shares down about 1%, although bulls were able to bid shares up off the lows so far.

The broader market decline over the past few sessions hasn’t helped matters. However, Facebook is under such heavy pressure as more companies begin to boycott its advertising platforms in July.

So far, some of the boycotting companies include Ben & Jerry’s, Coca-Cola  (KO) – Get Report, Starbucks  (SBUX) – Get Report and Honda  (HMC) – Get Report. In total, more than 160 companies are involved.

That’s going to be a top-line issue for Facebook and to some extent, Twitter  (TWTR) – Get Report as well. While Facebook suffered a large one-day hit, the stock is holding up pretty well so far. 

Facebook and Starbucks are holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells FB or SBUX? Learn more now.

Trading Facebook Stock

Daily chart of Facebook stock.

Daily chart of Facebook stock.

Friday’s loss was an avalanche of high-volume selling, with Facebook stock breaking below $225. This mark was significant. It was resistance in January and support in May and June.

Once support gave way, the stock traded down to the 50-day moving average, before gapping below this mark on Monday morning. Trying to reclaim this metric now, it will be interesting to see whether it acts as resistance.

If it does, it puts the $200 mark in play. Not only is this level psychologically relevant, but it was also post-earnings support in late-April and May. Further, the 100-day and 200-day moving averages are near $198.

This should make the $200 area a strong support zone if Facebook stock declines that far. It may at least be good for a buy-the-dip bounce trade. 

On the flip side, let’s say Facebook reclaims the 50-day moving average. It then puts the $225 level back in play. It would be quite bullish to see Facebook stock reclaim this mark.

It puts the 20-day moving average back on the table — currently near $230 — followed by resistance at $240.

For now, I would prefer a wait-and-see approach with Facebook stock. That is, wait to see whether it can reclaim $225 or if it dips to $200, then pounce.

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rumors trade

Amid trade rumors, Miami Dolphins in a good place with Josh Rosen – The Phinsider

With the rumors surfacing about the Dolphins fielding calls for Josh Rosen, it’s becoming more and more clear that Miami sits in a terrific position with the enigmatic player that’s become a complete afterthought since getting benched early in 2019. Their options are three-fold. Get blown away with an early offer from a desperate team, whoever that might be, and pull the trigger (unlikely, but Bill O’Brien has convinced me that any silly offer is possible now). In my mind, you scream DEAL if you hear a day two pick mentioned on the phone…although a fourth rounder would seem more plausible. Wait and see what happens with teams in training, camp or the preseason, when the injury bug can strike and leave a team desperate. Or, maybe just hang onto him.

And the last option really isn’t crazy. It’s hard to say what’s going to happen beyond 2020 with incumbent Ryan Fitzpatrick. How many years does he have left? When Miami is ready to feature 2020 fifth-overall pick Tua Tagovailoa starting in 2021 (or during the 2020 season) it’s more than reasonable to think that the journeyman would be ready to continue his league tour somewhere else for a better chance to start. And if that’s the case, who better to have as a backup quarterback than someone who graded as a top 10 draft pick? Except for Andy Dalton backing up Dak Prescott and Jameis Winston backing up Drew Brees, there aren’t too many backup quarterbacks that I’d immediately prefer over Rosen.

Patience also favors giving the Dolphins the chance to further evaluate whether they think Rosen can develop into a capable NFL quarterback. I can’t think of many examples of a player being thrown into a worse situation than what Rosen has seen in his first two seasons. His numbers in Arizona were…..well, less then pedestrian (217 of 393, 55.2%, 2278 yards, 11 TDs, 14 INTs, 66.7 rating). But that’s the kind of thing that can happen to a rookie quarterback who’s running for his life (he was sacked 45 times) while trying to learn the speed and complexity of the NFL game on the fly. A new coach, system, and Miami’s subpar offensive line did him no favors last year either as we all know, as he was sacked 16 times and seemed over his head from the early going.

But, if they receive a third or fourth round offer, they can somewhat mitigate the loss of the draft pick they invested in trying to see if Rosen was a franchise type of quarterback he was projected by scouts to be. Teams who whiff on quarterbacks are often set back substantially with invested draft stock trying to answer that question. However, the Dolphins could have the luxury of moving on with little impact.

Do I think such an offer would come quickly? Of course not, and it might take a desperate team close to the start of the season to maximize the Dolphins’ return. But Rosen is young and has a very intriguing aspect to would-be suitors: he’s cheap. His cap number is around $2.169 million in 2020 and $3.049 million in 2021, per overthecap.com.

It really comes down to this simple question: does Rosen’s value to the Dolphins as a backup outweigh the return they get for him? Time will dictate how those questions are answered. Fortunately, time is the one thing Miami has plenty of in this type of situation.

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