Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
More tit-for-tat tariffs in the U.S.-China trade war could set the global economy up for a recession, according to Morgan Stanley.Marketsread more
A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.Marketsread more
A series of tweets Monday marked the latest chapter in Trump's decadeslong effort to refute published reports that his previous financial problems have rendered him an...Politicsread more
President Trump stands a chance of creating a new economic world order in his China trade fight, says the chief economic advisor of Allianz.Economyread more
Sens. Mitch McConnell and Tim Kaine plan to introduce a bill Monday that would raise the minimum age to buy tobacco to 21 in hopes of curbing what regulators are calling an...Health and Scienceread more
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2...Autosread more
Silicon Valley argues that the public market investors focus too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Despite high criticism from fans, the final episode of "Game of Thrones" shattered single-night viewing records Sunday, with 19.3 million tuning in to watch the finale.Entertainmentread more
Restaurants are thinking outside the box to attract and retain talent. A report from TDn2K, a restaurant analytics firm, finds that employee vacancies are a major concern for...Restaurantsread more
Forty percent of customers will choose a center to shop at based solely on the food that's there, JLL found in a new study. And nearly 38% of people want healthy options when...Retailread more
May is reportedly willing to extend the transition process. This is the portion of time after the U.K. has officially left the EU but when it is allowed to negotiate its future relationship, including a new trade deal with the rest of the EU. It will also give companies and people on both sides time to prepare for the new arrangements. This is currently set to last 21 months, between the exit day on March 29 next year and the end of 2020.
The idea behind the proposal for the extension is to have enough time to negotiate a trade deal with the rest of the EU that will avoid having to use the so-called Irish backstop. This backstop is a future proposal that both the EU and the U.K. need to agree on to avoid a hard border between Northern Ireland and the Republic of Ireland. It will only be triggered if both sides do no reach a future trade deal. The EU and the U.K. want to have a backup solution in case that ends up being the case.
This is the issue that is currently blocking progress in Brexit talks.
Danielle Haralambous, U.K. analyst at the Economist Intelligence Unit, told CNBC via email: "With the current phase of negotiations in deadlock over the Irish border issue, an extension of the transition period could in theory provide more time to negotiate a trade arrangement that permanently solves it. But this will be a hard-sell to the Brexiteers (those U.K. politicians that have campaigned to leave the EU)."
"They will reject the prospect of another year of financial contributions to the EU and adherence to EU rules," she added.
Extending the transition period would mean that the U.K. would prolong the period where it has no say in EU policymaking but would still have to pay into the European Union budget. It would however mean that businesses and citizens would have more time to prepare for the complete departure from the EU.
Kallum Pickering, a U.K. economist at Berenberg, said that "a longer transitional period would be a positive outcome for the U.K. economy as it would allow the U.K. to enjoy the benefits of participating in the EU single market and customs union for an extra year."
European leaders seem keen on the idea if it will end the current deadlock. Dalia Grybauskaite, the president of Lithuania, told CNBC Wednesday that extending the transition period was "not a problem for us."
Xavier Bettel, the prime minister of Luxembourg, also told CNBC's Willem Marx Wednesday that he is "in favor of all these possibilities where we can unlock an agreement, but it has to be with conditions."
"We can't just give up (on the Irish border and the single market) because time is running (out)," he said.
The other 27 European leaders — aside for the U.K. — said Wednesday night that despite the "intensive" negotiations there has not been enough progress to call for an emergency summit next month to sign off on the Withdrawal Agreement. This agreement is the terms on how the U.K. will leave the bloc, not what its future relationship will be.
However, they also said that if talks in the coming weeks show enough progress, they would "stand ready" to convene on that extra summit and potentially send the Withdrawal Agreement for parliamentary approval.
"The positive news this morning is that a November council has also not been called to prepare for a no-deal," Carsten Nickel, deputy director of research at Teneo Intelligence, told CNBC's "Street Signs" on Thursday morning.
Nonetheless, the European institutions said Monday that their preparations for a no-deal scenario were being intensified. A no-deal would be were the U.K. abruptly leaves the EU without any agreements and would have to rely on WTO trade rules which could raise export tariffs and roil financial markets.