Still ‘credible’ for Rwanda deportation flights to take off in spring, home secretary says

Published

1 year ago

December 13, 2023

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The government is still hoping it will be able to start flying asylum seekers to Rwanda in the spring, according to the home secretary.

James Cleverly confirmed his aims to Sky News the morning after the government managed to keep its Safety of Rwanda bill alive despite a rebellion of more than 20 backbench MPs.

While the bill passed by 43 votes, if a substantial number of the 37 Tory MPs who abstained had voted against it the government would be in trouble; similarly, losing a proportion of supportive Conservative MPs could spell disaster.

Some of those who have voiced concerns about the legislation have said they wanted the bill to progress to the next stage so they can amend it.

Politics latest: Cleverly sends message in TV interview to right

For those on the right of the Conservative Party, this would mean making it more hardline – and there have been reports that One Nation centrist Tories may try and wreck the bill by watering it down.

This Rwanda bill seeks to unilaterally declare the African nation a safe country, and prevent last minute stopping orders on planes handed down from Europe from being actioned.

This is being done to address concerns raised by the Supreme Court earlier this year.

“We want to get flights off next year, ideally in the spring is a credible timescale,” Mr Cleverly said.

He added they will “go as soon as we can get them” – and that the government is “not waiting for some arbitrary point in time”.

“We are working as quickly as we can,” he said.

Rishi Sunak said last month that spring was still his deadline to get planes off the ground.

On amendments, Mr Cleverly said the government is “more than willing to listen to good faith amendments that are designed to make the bill better”.

But these would need to be “within the bounds of international law”, while keeping the bill “in a state that the Rwandans are happy to work with” and letting the legislation remain “effective”.

One area raised by Tory MPs unhappy with the Safety of Rwanda bill is the powers contained within it to allow judges to ignore European court orders.

Robert Jenrick, who resigned as immigration minister over the bill, called the government’s position “sophistry” – meaning a clever argument aiming to say that something false is true.

He claimed using the powers to ignore international court rulings would be “illegal to use” and therefore not realistic.

This – and the allowance for individuals to appeal their deportations – still seem to be the main bugbears for the constellation of right-wing Tory rebel groups.

But hardening this position and potentially putting the UK in breach of international commitments could lead to the Rwandan government pulling out of the treaty.

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And on the domestic side, One Nation Conservatives – like former justice secretary Sir Robert Buckland – have said removing provisions like the grounds for individuals to appeal would “set up a fistfight” with the judiciary.

Further parliamentary debate on the bill – and the tabling of amendments – is expected in the new year.

Polling conducted on the 11 and 12 December – the day before and of the vote – showed Mr Sunak had fallen to his lowest ever net favourability rating with the public of -49.

Politics

Chancellor to hold tariff crisis talks with top City executives

Published

2 hours ago

April 8, 2025

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Chancellor to hold tariff crisis talks with top City executives

Rachel Reeves will seek to gauge the unfolding impact of President Donald Trump’s tariffs blitz on Wednesday when she holds talks with some of the City’s top executives.

Sky News has learnt the chancellor will hold talks with bosses from companies including Hargreaves Lansdown, Legal & General, Lloyds Banking Group and M&G amid ongoing volatility in global financial markets.

Insiders said the talks had been convened to help frame the Treasury’s financial services growth and competitiveness strategy.

However, they acknowledged that the fallout from US tariffs, while not directly affecting most City employers, would feature prominently on Wednesday’s agenda.

“The chancellor will use this meeting to show leadership, building on her statement to the House earlier today, and reiterating that the government will act decisively to take the right decisions in our national interest and protect working people,” a Treasury insider said.

Ms Reeves would stress a commitment to working with international partners to reduce barriers to trade, while pursuing the best possible bilateral deal with the US, they added.

Charlie Nunn, the Lloyds boss; Antonio Simoes of L&G; and Dan Olley, Hargreaves Lansdown’s chief, will all attend the talks.

It will be the latest in a string of meetings the chancellor has held in recent weeks in a bid to boost economic growth.

Her budget last October sparked a furious backlash from the business community, while last month’s spring statement raised fresh fears about the possibility of further tax rises later this year.

None of the companies invited to Wednesday’s meeting would comment when approached by Sky News.

Politics

Crypto execs expect global banking push into Bitcoin by end of 2025

Published

6 hours ago

April 8, 2025

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Crypto execs expect global banking push into Bitcoin by end of 2025

Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.

Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.

According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.

“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.

Crypto adoption is not just about Trump

While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.

“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.

Banks, Paris, Bitcoin Regulation, Policy — Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph

Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:

“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”

“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.

Banks are no longer afraid of Bitcoin regulators

With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.

“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the US regulatory authorities,” he said, adding:

“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Politics

Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

Published

9 hours ago

April 8, 2025

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Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.

Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.

However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.

“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:

“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”

“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.

China retaliates with new tariffs

Considering China’s latest retaliatory measures, a resolution remains unlikely in the short term.

In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.

China overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.

Crypto markets watch trade outcome closely

As the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.

Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.

Investor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.

“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:

“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”