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7/22, 9:42 AM (Source: TeleTrader)
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UK ministers expect no-deal Brexit - report

The United Kingdom government is operating under the assumption that no deal with the European Union will be reached by the end of the year, and the country will trade with the bloc under the rules of the World Trade Organization, The Telegraph wrote on Wednesday, citing "senior sources."

UK Prime Minister Boris Johnson said earlier to German Chancellor Angela Merkel that Britain is ready to end the Brexit transition period without a trade deal if the European Union doesn't show readiness to compromise, while Berlin asked for more "pragmatism" and "realism" from London, noting that the talks are not showing enough progress.

The latest round of negotiations, ahead of the end of the Brexit transition period on December 31, started at the beginning of July.

Breaking the News / BU