Skip to content
Search

Latest Stories

British Prime Minister Vows To Fight For Her Brexit Deal Amid Series Of Resignations

UK prime minister Theresa May vowed to fight for her draft divorce deal with the European Union on Thursday (15) after the resignation of her Brexit secretary and other ministers put her strategy and her job in peril.

Just over 12 hours after May announced that her cabinet had agreed to the terms of the deal, Brexit minister Dominic Raab and work and pensions minister Esther McVey resigned.


Eurosceptics in May's Conservative Party said they had submitted letters calling for a vote of no confidence in her leadership.

"Am I going to see this through? Yes," May told reporters at her Downing Street office.

Two junior ministers, two ministerial aides and the Conservatives' vice chairman also quit. Hostility to the deal from government and opposition lawmakers raised the risk that the deal would be rejected and Britain would leave the EU on March 29 without a safety net.

May said she was sorry at the resignations and understood their unhappiness, but believed her deal was the right one.

"I believe with every fibre of my being that the course I have set out is the right one for our country and all our people," she said.

"I am going to y job of getting the best deal for Britain and I'm going to my job of getting a deal that is in the national interest."

By seeking to preserve the closest possible ties with the EU, May has upset her party's many advocates of a clean break, and Northern Ireland's Democratic Unionist Party (DUP), which props up her minority government.

Meanwhile, proponents of closer relations with the EU in her own party and the Labour opposition say the deal squanders the advantages of membership for little gain.

Both sides say it effectively cedes power to the EU without securing the promised benefits of greater autonomy.

"It is ... mathematically impossible to get this deal through the House of Commons. The stark reality is that it was dead on arrival," said Conservative Brexit-supporting lawmaker Mark Francois.

May will need the backing of about 320 lawmakers in the 650-seat parliament to pass the deal.

The ultimate outcome remains uncertain. Scenarios include May's deal ultimately winning approval; May losing her job; Britain leaving the bloc with no agreement; or even another referendum.

Reuters

More For You

Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less
Grant Thornton's Anuj Chande urges UK firms to tap booming India

Anuj Chande

Grant Thornton's Anuj Chande urges UK firms to tap booming India

INDIAN companies are well placed to support the UK’s economic growth, Eastern Eye has been told by Anuj Chande, partner and head of the South Asia Business Group at Grant Thornton.

He was speaking after the publication of Grant Thornton’s India Meets Britain Tracker 2025: The latest trends in Indian investment in the UK, which was released last week. While companies in India need little encouragement to enter the UK market, the reverse is not true.

Keep ReadingShow less