Brexit: Article 50 will be triggered by end of March 2017, Theresa May says
Theresa May has ended weeks of speculation and revealed that she will launch formal Brexit talks with EU leaders before the end of March 2017.
The Prime Minister will trigger Article 50 of the Lisbon Treaty early next year, sparking the start of a two-year countdown within which time a withdrawal deal with the EU must be agreed.
This morning the Conservatives confirmed they will also introduce a "Great Repeal Bill" designed to end the EU's authority in the UK on the first day of Brexit.
U.S. consumer spending fell
U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates.
The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, fell 0.1 percent last month after accounting for inflation.
Analysts polled by Reuters had expected a 0.1 percent gain.
Atlanta Fed trims U.S. third-quarter growth forecast to 2.4 percent
The U.S. economy is on track to grow at a 2.4 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDP Now forecast model showed on Friday, following the latest data on inventories, trade and consumer spending this week.
That is lower than the 2.8 percent growth for the third quarter estimated on Sept. 28, the Atlanta Fed said on its website.
The Atlanta Fed said its forecast of third-quarter real consumer spending growth fell from 3.0 percent to 2.7 percent, in the wake of Friday's personal income and spending data for August.
Oil up second straight month on OPEC-fueled rally
Oil prices settled mixed on Friday while posting their second straight monthly gain on OPEC's planned output cuts, even as skepticism about the cartel's pledge grew after data suggested another record high in its production.
WTI's front-month, also November CLc1, closed up 41 cents, or nearly 1 percent, at $48.24 per barrel. It gained 8 percent on the week and month, and was almost flat on the quarter.
Reference: Reuters, CNBC, Independent
Thai
Eng