- Republicans in the US Congress supported the lawsuit to review the election results
- Bank shares rally as dividend ban loosened in the UK
- British Prime Minister Johnson announces ‘strong possibility’ for No-deal Brexit
Republicans in the US Congress Supported the Lawsuit to Review the Election Results
More than 100 Republican members of the US House of Representatives have supported a lawsuit to review the results of presidential elections in some states, where Democrat Joe Biden won, The Hill reports.
These are the states of Georgia, Michigan, Pennsylvania, and Wisconsin.
The US presidential elections were held on November 3. Republican Donald Trump and Democrat Joe Biden were in the race for the White House.
According to forecasts of the American media, Joe Biden becomes the new President of the American state. World leaders have already congratulated him on his victory, despite the absence of an official election result.
In turn, Trump has not yet officially admitted defeat, and his headquarters have filed lawsuits demanding not to confirm the voting results in a number of states or manually recount the ballots received by mail.
At the same time, the 45th US President authorized the beginning of formal procedures for the transfer of power.
The inauguration of the next head of state is due on January 20, 2021.
Bank Shares Rally as Dividend Ban Loosened in the UK
The Bank of England opened the way for normalization by easing the dividend ban on banks after 9 months of restrictions. Regulators introduced a dividend ban in March to compensate for losses from Covid 19, news of the relaxation is a triumph for HSBC, Standard Chartered, and other major British banks.
In the new year, the largest banks in the UK will be allowed to restart restricted dividend payments and banker bonuses after regulators have decided that lenders are stable enough to manage with the remainder of the Covid pandemic.
“Notwithstanding the impact of the Covid-19 pandemic on the global economy, banks remain well-capitalized and are expected to be able to continue to support the real economy through this period of disruption,” the central bank’s Prudential Regulation Authority (PRA) said.
HSBC shares rallied 2.2 percent at 10:45 am Hong Kong time, while Standard Chartered shares rallied 3.3 percent.
Bank executives previously expressed their opinion on the lifting of the ban. Natwest Group Manager Howard Davies stated in July, that the industry would not be invested unless the ban was lifted.
Evaluating the decision, Goodby Analyst John Cronin stated that he found the step correct and said, “It was important for the sustainability of investor’s interest in the sector.”
In a report by Bloomberg, it was stated that European regulatory and supervisory authorities were planning to extend the dividend ban, but to make exceptions to some banks.
British Prime Minister Johnson Announces ‘strong possibility’ for No-deal Brexit
Johnson traveled to Brussels on Wednesday to resolve the dispute and met with von der Leyen for dinner. Michel Barnier and Lord Frost, chief negotiators on both sides, also attended the dinner, which lasted about three hours.
After the talks, Von der Leyen said the sides stand at “very different points”.
A senior source from the British Prime Ministry said that “the great gaps between the two sides could not be overcome” but that talks will continue with “strong determination” to overcome the bottleneck until Sunday.
Speaking for the first time after meeting with European Commission President Ursula von der Leyen in Brussels on Wednesday evening, Johnson said companies and people should be prepared to leave the EU without a deal.
Johnson said the UK should be prepared for an “Australian-style option” that includes not having a free trade agreement with the EU.
The European Union has published emergency plans foreseen to be implemented in the event of a collapse of trade agreement talks with the UK.
The plans stipulate that there will be no problems in air and land transportation between the EU and the UK, and at the same time, the parties have access to each other’s territorial waters for fishing.
The plans were published after the British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen had no consensus on Wednesday evening’s talks in Brussels as part of their efforts to reach a trade agreement by the end of the year.
The parties announced that a final decision will be made on Sunday on whether an agreement will be reached.
