Keir Starmer, U.K. exiting the European Union spokesman for the opposition Labour party. Bloomberg
Keir Starmer, U.K. exiting the European Union spokesman for the opposition Labour party. Bloomberg

Britain's Labour party threatens to vote down any Brexit deal



The British Labour party will vote down any Brexit deal which prime minister Theresa May brings to parliament and is open to holding a referendum on whether the country should even leave the EU, the shadow Brexit secretary Sir Keir Starmer said on Tuesday.

Addressing delegates at the party’s annual conference in Liverpool, Mr Starmer said that “if Theresa May brings back a deal that fails our tests – and that looks increasingly likely – Labour will vote against it. No ifs, no buts.”

He was referring to six conditions that the party had laid down which covered economic, social and security-related issues.

“And if the prime minister thinks we’ll wave through a vague deal asking us to jump blindfolded into the unknown she can think again. You can’t meet Labour’s tests by failing to provide answers. We will vote down a blind Brexit.

“Let me be clear: this isn’t about frustrating the process. It’s about stopping a destructive Tory Brexit. It’s about fighting for our values. And about fighting for our country.”

The biggest cheers for Mr Starmer came when he confirmed that the party wanted to keep open the option of there being a referendum on whatever deal was brought to the country by Mrs May and – even that remaining members of the EU could be on the vote.

“If [a general election] is not possible, we must have other options,” Mr Starmer said. “And, conference, that must include campaigning for a public vote. Conference, it’s right that parliament has the first say. But if we need to break the impasse, our options must include campaigning for a public vote and nobody is ruling out remain as an option.”

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As his words sunk in prolonged cheers erupted in the conference hall and there was a standing ovation – Labour’s membership is pro-European and a poll this week revealed that almost 90% of party members wanted to remain in the EU.

Earlier in the week elements of the party leadership loyal to leader Jeremy Corbyn – including shadow chancellor John McDonnell and key union boss Len McCluskey – had suggested that any public vote would merely be on whether to accept or reject any potential Brexit deal.

Mr Starmer’s speech has been seized on by opponents of Brexit, with a fellow MP Alison McGovern claiming that “Labour is united around a policy that can not only help us the next election but will ensue we can be the radical, reforming government we all want.”

However, it was described as a “betrayal” by Labour Leave, a group of pro-Brexiteers in the party. “This is a betrayal of the very highest order. It is a betrayal not only of the millions of Labour voters, but of our 2017 manifesto,” said its general secretary Brendan Chilton.

“It is a betrayal that voters will remember for a very long time, and we will lose MPs as a result. There is no doubt. It was a P45 to our MPs in the Midlands and Wales.”

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Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
Company%20Profile
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

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Rating: 1/5

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COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

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Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
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  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
One in four Americans don't plan to retire

Nearly a quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals' retirement plans and the realities of ageing in the workforce.

Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than they'd like.

According to the poll from The Associated Press-NORC Centre for Public Affairs Research, 23 per cent of workers, including nearly two in 10 of those over 50, don't expect to stop working. Roughly another quarter of Americans say they will continue working beyond their 65th birthday.

According to government data, about one in five people 65 and older was working or actively looking for a job in June. The study surveyed 1,423 adults in February this year.

For many, money has a lot to do with the decision to keep working.

"The average retirement age that we see in the data has gone up a little bit, but it hasn't gone up that much," says Anqi Chen, assistant director of savings research at the Centre for Retirement Research at Boston College. "So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement."

When asked how financially comfortable they feel about retirement, 14 per cent of Americans under the age of 50 and 29 per cent over 50 say they feel extremely or very prepared, according to the poll. About another four in 10 older adults say they do feel somewhat prepared, while just about one-third feel unprepared. 

"One of the things about thinking about never retiring is that you didn't save a whole lot of money," says Ronni Bennett, 78, who was pushed out of her job as a New York City-based website editor at 63.

She searched for work in the immediate aftermath of her layoff, a process she describes as akin to "banging my head against a wall." Finding Manhattan too expensive without a steady stream of income, she eventually moved to Portland, Maine. A few years later, she moved again, to Lake Oswego, Oregon. "Sometimes I fantasise that if I win the lottery, I'd go back to New York," says Ms Bennett.

 

Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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How to help

Donate towards food and a flight by transferring money to this registered charity's account.

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