UK finance minister says BoE governor to stay on as Brexit turbulence looms

In this file photo taken on June 27, 2018 Bank of England Governor Mark Carney attends the Bank of England's financial stability report at the Bank of England in central London. Mark Carney will remain Bank of England chief until January 2020 to steer the UK economy through possibly "quite a turbulent period" post-Brexit, finance minister Philip Hammond announced on September 11, 2018. (AFP)
Updated 11 September 2018
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UK finance minister says BoE governor to stay on as Brexit turbulence looms

LONDON: Mark Carney will stay on as Bank of England governor until the end of January 2020 to help navigate the turbulence of Brexit, Britain's finance minister said on Tuesday, as he warned time was running out to secure a deal with the EU on future ties.
The United Kingdom is due to leave the European Union on March 29, but no agreement has been reached on the terms of its exit. Rivals to Prime Minister Theresa May are circling and some lawmakers are pushing for a rerun of the 2016 referendum.
Finance minister Philip Hammond said the government was devoting all its efforts to securing a deal on a new relationship with the EU. Carney's continued presence at the central bank will help Britain negotiate the aftermath, he said.
"I have been discussing with the governor his ability to be able to serve a little longer in post in order to ensure continuity through what could be quite a turbulent period for our economy in the early summer of 2019," Hammond said.
Carney, a former Goldman Sachs banker, has run the Bank of England since 2013. He gained respect from investors for his handling of the effects of the 2016 Brexit vote.
Since the shock vote to leave, companies have spent millions of pounds to prepare for Brexit. Many chief executives fear Britain could still leave without a deal, a scenario they warn would spook financial markets and silt up the arteries of trade.
Sterling, which tumbled after the 2016 vote, has recently been moving sharply on Brexit news. It reached its highest level since early August on Tuesday amid increased hopes for a deal, but then gave up its gains to stand at $1.3002.
As May tries to clinch a deal with Brussels, she is facing rebels in her Conservative Party who say they will vote down any deal that fails to deliver a sharp break with the EU.
Michel Barnier, the EU's chief negotiator, said on Monday that a Brexit deal was possible "within six or eight weeks" if negotiators were realistic in their demands.

BREXIT DEAL?
Hammond warned that time was running out.
"We are working against the clock, we understand that," Hammond told parliament. "We will be working flat out over the coming weeks and months to achieve (a deal)."
May's spokesman said she saw an informal EU summit in the Austrian city of Salzburg next week as a "staging post" in Brexit negotiations that would allow EU leaders to discuss her proposals for the first time.
But business chiefs are worried.
The wrong Brexit deal could cost tens of thousands of jobs in the British car industry, the boss of Jaguar Land Rover said, adding he had no idea whether his plants would be able to operate in Britain after March 29.
"Currently I do not even know if any of our manufacturing facilities in the UK will be able to function on the 30th," Ralf Speth said.
He added that the company would not be able to build cars if customs checks meant that the motorway to and from the southern English port of Dover, which is used to transport components, becomes a "car park" due to snarl-ups.
Under May's proposals, Britain will seek a free-trade area for goods with the EU and accept a "common rulebook" for goods. Rebels say that will keep the UK under the EU's sway for years.
At a presentation by economists who favour Britain's leaving without a deal, Conservative lawmakers who support Brexit warned that May would have to ensure Britain was independent of the EU after Brexit.
Any joint EU-UK political statement, lawmaker Steve Baker said, would have to "point towards an advanced free-trade agreement which leaves us as an independent country".
Boris Johnson, May's former foreign minister and a leading Brexit-supporting rebel, said Britain should not accept EU single market legislation.


Drifter charged in stabbing death of champ golfer in Iowa

Updated 18 September 2018
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Drifter charged in stabbing death of champ golfer in Iowa

  • Celia Barquin Arozamena was found in a pond at Coldwater Golf Links in Ames, about 50 kilometers north of Des Moines
  • A police dog tracked Barquin’s scent to a temporary camp along a creek near the golf course, where a suspect was apprehended

AMES, Iowa: A homeless man attacked and killed a top amateur golfer from Spain who was playing a round near her university campus in central Iowa, leaving her body in a pond on the course, police said Tuesday.
Collin Daniel Richards, 22, has been charged with first-degree murder in the death of Celia Barquin Arozamena, a student at Iowa State University.
Barquin was found Monday morning in a pond at Coldwater Golf Links in Ames, about 30 miles (50 kilometers) north of Des Moines. Police were called to the golf course around 10:20 a.m. to investigate a possible missing female after golfers found a golf bag with no one around it.
Officers found Barquin’s body some distance from the bag, with several stab wounds to her upper torso, head and neck, according to the criminal complaint filed Tuesday against Richards.
A police dog tracked Barquin’s scent to a temporary camp along a creek near the golf course, where Richards had been living in a tent, the complaint said. Officers found Richards with several fresh scratches on his face consistent with fighting, and a deep laceration in his left hand that he tried to conceal, it said.
An acquaintance of Richards told investigators that the suspect had said in recent days that he had “an urge to rape and kill a woman” while they were walking on a trail near the course, the complaint said. A second acquaintance told police that Richards arrived at his home on Monday appearing “disheveled and covered in blood, sand and water.” He bathed and left with his clothes in a backpack.
Investigators later recovered two pairs of shorts with blood stains and a knife that Richards allegedly gave to two other people after the slaying, the complaint said. Those two individuals were driving Richards out of town after the slaying, but he asked them to drop him off near the camp so he could get his tent and that’s when officers arrested him, it said.
Barquin was the 2018 Big 12 champion and Iowa State Female Athlete of the Year. The university said the native of Puente San Miguel, Spain, was finishing her civil engineering degree this semester after exhausting her eligibility at Iowa State in 2017-2018.
She was one of the most accomplished players in Cyclone golf history, the university said. In April, she became the second women’s golfer at Iowa State to earn medalist honors at a conference tournament when claiming the 2018 Big 12 Championship. She did it with a three-shot victory.
Barquin, who was ranked No. 69 nationally by Golfweek, ended her career as a Cyclone with a fourth-straight NCAA Regional appearance and earned All-Big 12 Team honors for the third time — the second player in Iowa State’s history to do so.
She became the third Cyclone women’s golfer to compete in the US Women’s Open Championship, the university said. The team announced Tuesday it was pulling out of the East & West Match Play in Ann Arbor, Michigan, to be with friends and family and to grieve their loss.
Iowa State President Wendy Wintersteen said in a statement on Twitter that she was “deeply saddened to learn of the tragic death” of Barquin, describing her as a “dedicated civil engineering student” and an “acclaimed golfer with a bright future.”
Head women’s golf coach Christie Martens said in a release that Barquin was “loved by all her teammates and friends” and was an “outstanding representative of our school.”
“We will never forget her competitive drive to be the best and her passion for life,” Martens said.