Afternoon Coffee: Britain Seeks Transition Period for Trade After Brexit, Uber Banned from London

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The U.K. will honor its financial commitments to the European Union’s current budget and seek to maintain current trade terms for two years after Brexit takes full effect in 2019, the Wall Street Journal reports. The U.K. would remain on the hook for any pledged commitments to the E.U. until 2020, and the newly independent country would use the proposed transition period to establish new trade deals while operating under the current E.U. rules and regulations.

Uber Ban

London declined to renew Uber’s license to operate in the city, effectively banning the service starting Sept. 30, according to Vox. The city’s transportation agency said Uber is not “fit and proper” in its compliance with regulations, particularly the company’s “lax handling of allegations of sexual assault of passengers by Uber drivers.”

Analytics Funding

Supply chain predictive analytics startup ClearMetal announced it had raised $9 million in a Series A funding round, according to a press release. That brings the company’s total funding to $12 million, with which it plans to expand its platform and extend customer reach.

“The global supply chain is suffering from billions of dollars of inefficiency as a result of not having the data intelligence and predictive visibility it needs,” said Adam Compain, CEO of ClearMetal. “Our customers are eager for predictive logistics and ClearMetal’s platform solves their fundamental data challenge while delivering the digital transformation required to drive profitability in the supply chain.”

Milk Production

And finally, an agriculture update: U.S. milk production is increasing faster than processing capacity, CNBC reports, leading some dairy farmers to dump excess milk.

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