trending Market Intelligence /marketintelligence/en/news-insights/trending/bfx8cpv6izw17rwo2wcpaw2 content esgSubNav
In This List

Report: Hardline Brexit Conservatives discuss plot to topple PM May

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Report: Hardline Brexit Conservatives discuss plot to topple PM May

Several Conservative members of the parliament opposed to the U.K.'s proposed post-Brexit relationship with the EU have talked about how to oust Prime Minister Theresa May, BBC News reported.

About 50 members of the European Research Group, or ERG, the group pushing for a hard Brexit, openly discussed on Sept. 11 "how best you game the leadership election rules," the report said, quoting an unnamed source.

A Conservative leadership contest takes place if the leader resigns or if 15% of party MPs write to the chairman of the backbench 1922 Committee, demanding a no-confidence vote.

The ERG opposes the so-called Chequers plan, which outlined the U.K.'s post-Brexit relationship with the EU, including a proposal to keep Britain's close trade ties with the bloc.

Hardline MPs are reportedly set to unveil a proposed solution to the Irish border, which remains a thorny issue in ongoing Brexit talks.

Environment Secretary Michael Gove dismissed the leadership speculation, saying that he was confident that there would be "solid vote" in parliament for May's proposals, Reuters reported.

The conflict among Conservative members is likely to dominate the party's annual conference Sept. 30 to Oct. 3.

Separately, the U.K. and EU are poised to sign the Brexit deal in November in a special summit to be announced "within days," Bloomberg News reported, citing people familiar with the matter.