The pound has slipped back after the UK's highest court ruled on a legal challenge over the Brexit vote.
Sterling was initially a little higher at more than $1.25 as the Supreme Court upheld a ruling that the Government needs the approval of Parliament to trigger Article 50 - the formal process of leaving the European Union.
But it then dropped half a cent lower as the judges said there would be no need to consult with devolved administrations in Scotland, Wales and Northern Ireland - a decision that should speed up the exit process.
It remained two tenths of a cent lower in late Tuesday trading having fallen by as much as a cent at one stage following a reaction to the ruling by Scotland's First Minister, Nicola Sturgeon.
Ms Sturgeon said it was becoming "ever clearer" that Scotland must make a choice on taking its future into its own hands.
She has previously asserted that Theresa May's stance on Brexit has made it "more likely" that a second referendum on Scottish independence will take place.
Meanwhile there was anxiety among businesses about whether the ruling would mean more uncertainty about the timing or the nature of the UK's departure from the EU.
Sterling had climbed to a five-week high on Monday as Donald Trump's protectionist rhetoric and the confrontational start to his presidency weighed on the US currency.
The pound is about 17% down since Britain voted last June to leave the EU, which sent the currency to its lowest level against the US dollar since 1985.
It has remained well below its June levels since then while experiencing sharp swings on the latest twists in the Brexit process and speculation about whether a "hard" or "soft" Brexit deal would be achieved.
Last week the pound achieved its sharpest one day rise against the dollar since 2008 after Mrs May laid out a plan for leaving the EU which left open the possibility of the UK remaining part of a tariff-free customs union.
Kathleen Brooks, research director at City Index Direct, said following the latest ruling: "The market is spooked by the fact that Theresa May is now likely to trigger Article 50 by the end of March, as the Parliamentary vote is likely to pass."
The FTSE 100 Index, which benefits from a weaker pound, had a flat day despite sterling's weakness, with gains for miners eroded by a 21% plunge in BT's value.
In Germany, the DIHK Chambers of Commerce said the ruling raised "new question marks over the path to Brexit".
"That is unsettling German firms as without clarity and predictability regarding Brexit, industry will hold back even more with investment," said Volker Treier, the DIHK's head of foreign business.
Adam Marshall, director general of the British Chambers of Commerce, said: "What businesses will want to know is whether this ruling will affect either the terms of the Government's approach, or the timeline that firms across the UK have been told to expect.
"Businesses will also want to see action to ensure that this further political wrinkle does not add further to the volatility of exchange rates."
Businesses are facing inflationary pressure as the weakness of the pound pushes up import costs.
Easyjet said on Monday that this would knock £105m off its profits.
Tuesday, January 24, 2017
Tougher fines to hit serious speeding offenders 'in the pocket'
Drivers caught going considerably over the speed limit will face harsher punishment from April.
Under the changes, fines for motorists convicted of the most serious speeding offences will start from 150% of their weekly income, compared to the current level of 100%.
Examples where tougher penalties apply include when drivers are caught travelling at 101mph or faster on a motorway, or when their recorded speed in a 30mph zone is more than 50mph.
The Sentencing Council says the guidelines for magistrates are designed to ensure there is a "clear increase in penalty as the seriousness of offending increases".
The RAC's road safety spokesman Pete Williams welcomed the changes, and said: "Anyone who breaks the limit excessively is a danger to every other road user and is unnecessarily putting lives at risk.
"Hopefully, hitting these offenders harder in the pocket will make them think twice before doing it again in the future."
The chair of the Commons Transport Committee, Louise Ellman, also expressed support for the tougher penalties - but warned declining numbers of dedicated road traffic police officers was a "real concern" as it reduces the likelihood that offenders will be caught and prosecuted.
Magistrates have also been given updated guidelines when passing sentences for other offences.
In another change, conditional discharges will be included as a sentencing option for minor cases of TV licence evasion - meaning a person would not be punished unless they commit another offence within a set period of time.
Sentencing guidelines have also been refreshed for offences related to animal cruelty, railway fare evasion and truancy.
District judge Richard Williams, a member of the Sentencing Council, said: "The magistrates' courts deal with the vast majority of offenders in England and Wales, so it is essential that the guidelines they use are up to date and help ensure that sentences are applied consistently and effectively."
Under the changes, fines for motorists convicted of the most serious speeding offences will start from 150% of their weekly income, compared to the current level of 100%.
Examples where tougher penalties apply include when drivers are caught travelling at 101mph or faster on a motorway, or when their recorded speed in a 30mph zone is more than 50mph.
The Sentencing Council says the guidelines for magistrates are designed to ensure there is a "clear increase in penalty as the seriousness of offending increases".
The RAC's road safety spokesman Pete Williams welcomed the changes, and said: "Anyone who breaks the limit excessively is a danger to every other road user and is unnecessarily putting lives at risk.
"Hopefully, hitting these offenders harder in the pocket will make them think twice before doing it again in the future."
The chair of the Commons Transport Committee, Louise Ellman, also expressed support for the tougher penalties - but warned declining numbers of dedicated road traffic police officers was a "real concern" as it reduces the likelihood that offenders will be caught and prosecuted.
Magistrates have also been given updated guidelines when passing sentences for other offences.
In another change, conditional discharges will be included as a sentencing option for minor cases of TV licence evasion - meaning a person would not be punished unless they commit another offence within a set period of time.
Sentencing guidelines have also been refreshed for offences related to animal cruelty, railway fare evasion and truancy.
District judge Richard Williams, a member of the Sentencing Council, said: "The magistrates' courts deal with the vast majority of offenders in England and Wales, so it is essential that the guidelines they use are up to date and help ensure that sentences are applied consistently and effectively."
Monday, January 23, 2017
Donald Trump Breaks Almost All of His ‘Day One’ Promises
(WASHINGTON) — As a candidate, Donald Trump set a sweeping “Day One” agenda.
As of Monday evening, the vast majority of his promises had gone unfulfilled.
At rallies and in speeches over the course of his campaign — as well as in a contract he spelled out with American voters — Trump vowed to move swiftly to overhaul the country’s approaches to trade and immigration.
He said repealing and replacing his predecessor’s signature health care law would be “one of his first acts as president.” He vowed to terminate what he dubbed his predecessor’s “two illegal executive amnesties.” And he committed to push forward with sweeping ethics reforms and undo scores of environmental and other regulations.
Read More: Donald Trump Outlines Policy Plans for First 100 Days in Office
But since he was sworn into office on Friday afternoon, President Trump has moved forward at a decidedly slower pace.
The White House has said it hasn’t stuck to its plan because it wants to maximize attention.
“If we put ’em all out on one day, they get lost in the ether, I think,” White House spokesman Sean Spicer said Monday. But Trump and his aides have also suggested they’re reconsidering speed for political and policy reasons.
Here’s what Trump promised to do on his first day in office, compared with what he’s actually accomplished so far.
Fulfilled
Promise: Impose a hiring freeze on federal employees, excluding military, public safety, and public health staff.
Fulfilled: Trump signed a memorandum Monday freezing most federal government hiring, with an exception for the military.
Promise: Formally withdraw from the 12-nation Trans-Pacific Partnership.
Fulfilled: Trump signed a memorandum Monday that moves to pull the United States out of the proposed Trans-Pacific Partnership trade pact.
In Progress
Promise: Announce his intention to renegotiate or withdraw from the North American Free Trade Agreement with Canada and Mexico.
Progress: In conversations with Canadian and Mexican leaders, aides say Trumphas made clear his intention to renegotiate the deal, though no formal steps have been taken.
Promise: Convene his generals and inform them that they have 30 days to submit a new plan for defeating the Islamic State group.
Progress: Spicer said on Monday he believes Trump has formerly requested Pentagon advice on changing the campaign against the militants. He says the president will continue to have those conversations later in the week.
Promise: Ask Congress to send him a bill to repeal and replace Obama’s signature health care law.
Progress: Trump did sign an executive order Friday aimed at “minimizing the economic burden” of the “Obamacare” law. The order notes that Trump intends to seek the “prompt repeal” of the law. But in the meantime, it allows the Health and Human Services Department and other federal agencies to delay implementing any piece of the law that might impose a “fiscal burden” on states, health care providers, families or individuals.
Pending
Immigration:
—Stop all federal funding to “sanctuary cities” — places where local officials don’t arrest or detain immigrants living in the country illegally for federal authorities.
—Begin deporting what Trump estimates to be more than 2 million criminal illegal immigrants living in the country.
—Cancel visas for citizens of foreign countries that won’t take those criminal illegal immigrants back.
—Immediately terminate former President Barack Obama’s “two illegal executive amnesties.” That presumably includes DACA, which protects people who were brought into the country illegally as children. Spicer said on Monday that, “For now … the focus is going to be on people who have done harm to our country.”
Security and defense:
—Immediately suspend the Syrian refugee program.
—Suspend immigration from “terror-prone regions” where he says vetting is too difficult.
—Implement new “extreme” immigration vetting techniques.
Trade:
—Direct his treasury secretary to label China a currency manipulator.
“Draining the swamp” and government reform:
—Propose a constitutional amendment to impose term limits on all members of Congress.
—Ban White House and congressional officials from becoming lobbyists for five years after they leave the government.
—Ban former White House officials from lobbying on behalf of foreign governments for the rest of their lives.
—Ban foreign lobbyists from raising money for U.S. elections.
—Impose a requirement that for every new federal regulation imposed, two existing regulations be eliminated.
Energy and the environment:
—Remove any Obama-era roadblocks to energy projects such as the Keystone XL pipeline.
—Lift restrictions on mining coal and drilling for oil and natural gas.
—Cancel payments to the U.N.’s climate change programs and use the money to fix America’s water and environmental infrastructure.
Health care, gun control and other issues:
—Cancel “every unconstitutional executive action, memorandum and order issued by President Obama.”
—Begin the process of selecting a new Supreme Court justice.
—Get rid of gun-free zones in schools and on military bases.
As of Monday evening, the vast majority of his promises had gone unfulfilled.
At rallies and in speeches over the course of his campaign — as well as in a contract he spelled out with American voters — Trump vowed to move swiftly to overhaul the country’s approaches to trade and immigration.
He said repealing and replacing his predecessor’s signature health care law would be “one of his first acts as president.” He vowed to terminate what he dubbed his predecessor’s “two illegal executive amnesties.” And he committed to push forward with sweeping ethics reforms and undo scores of environmental and other regulations.
Read More: Donald Trump Outlines Policy Plans for First 100 Days in Office
But since he was sworn into office on Friday afternoon, President Trump has moved forward at a decidedly slower pace.
The White House has said it hasn’t stuck to its plan because it wants to maximize attention.
“If we put ’em all out on one day, they get lost in the ether, I think,” White House spokesman Sean Spicer said Monday. But Trump and his aides have also suggested they’re reconsidering speed for political and policy reasons.
Here’s what Trump promised to do on his first day in office, compared with what he’s actually accomplished so far.
Fulfilled
Promise: Impose a hiring freeze on federal employees, excluding military, public safety, and public health staff.
Fulfilled: Trump signed a memorandum Monday freezing most federal government hiring, with an exception for the military.
Promise: Formally withdraw from the 12-nation Trans-Pacific Partnership.
Fulfilled: Trump signed a memorandum Monday that moves to pull the United States out of the proposed Trans-Pacific Partnership trade pact.
In Progress
Promise: Announce his intention to renegotiate or withdraw from the North American Free Trade Agreement with Canada and Mexico.
Progress: In conversations with Canadian and Mexican leaders, aides say Trumphas made clear his intention to renegotiate the deal, though no formal steps have been taken.
Promise: Convene his generals and inform them that they have 30 days to submit a new plan for defeating the Islamic State group.
Progress: Spicer said on Monday he believes Trump has formerly requested Pentagon advice on changing the campaign against the militants. He says the president will continue to have those conversations later in the week.
Promise: Ask Congress to send him a bill to repeal and replace Obama’s signature health care law.
Progress: Trump did sign an executive order Friday aimed at “minimizing the economic burden” of the “Obamacare” law. The order notes that Trump intends to seek the “prompt repeal” of the law. But in the meantime, it allows the Health and Human Services Department and other federal agencies to delay implementing any piece of the law that might impose a “fiscal burden” on states, health care providers, families or individuals.
Pending
Immigration:
—Stop all federal funding to “sanctuary cities” — places where local officials don’t arrest or detain immigrants living in the country illegally for federal authorities.
—Begin deporting what Trump estimates to be more than 2 million criminal illegal immigrants living in the country.
—Cancel visas for citizens of foreign countries that won’t take those criminal illegal immigrants back.
—Immediately terminate former President Barack Obama’s “two illegal executive amnesties.” That presumably includes DACA, which protects people who were brought into the country illegally as children. Spicer said on Monday that, “For now … the focus is going to be on people who have done harm to our country.”
Security and defense:
—Immediately suspend the Syrian refugee program.
—Suspend immigration from “terror-prone regions” where he says vetting is too difficult.
—Implement new “extreme” immigration vetting techniques.
Trade:
—Direct his treasury secretary to label China a currency manipulator.
“Draining the swamp” and government reform:
—Propose a constitutional amendment to impose term limits on all members of Congress.
—Ban White House and congressional officials from becoming lobbyists for five years after they leave the government.
—Ban former White House officials from lobbying on behalf of foreign governments for the rest of their lives.
—Ban foreign lobbyists from raising money for U.S. elections.
—Impose a requirement that for every new federal regulation imposed, two existing regulations be eliminated.
Energy and the environment:
—Remove any Obama-era roadblocks to energy projects such as the Keystone XL pipeline.
—Lift restrictions on mining coal and drilling for oil and natural gas.
—Cancel payments to the U.N.’s climate change programs and use the money to fix America’s water and environmental infrastructure.
Health care, gun control and other issues:
—Cancel “every unconstitutional executive action, memorandum and order issued by President Obama.”
—Begin the process of selecting a new Supreme Court justice.
—Get rid of gun-free zones in schools and on military bases.
Trump executive order pulls out of TPP trade deal
President Donald Trump has fulfilled a campaign pledge by signing an executive order to withdraw from the Trans-Pacific Partnership (TPP).
The 12-nation trade deal was a linchpin of former President Barack Obama's Asia policy.
"Great thing for the American worker what we just did," said Mr Trump as he dumped the pact with a stroke of a pen.
He also cut funding for international groups that provide abortions, and froze hiring of some federal workers.
Mr Trump's executive order on TPP was largely symbolic since the deal has not been ratified by a divided US Congress.
During his presidential campaign, he criticised the accord as a "potential disaster for our country", arguing it harmed US manufacturing.
His action won some plaudits from the left as well as the right.
Democratic Senator Bernie Sanders told the BBC he backed it because trade deals like this have been a "disaster" and cost millions of jobs.
On Monday evening, Mr Trump's pick to be secretary of state, Rex Tillerson, was approved by the Senate Foreign Relations committee, and now requires confirmation from the full Senate.
And the new CIA boss will be Mike Pompeo, following a Senate vote of 66 to 32, in his favour.
Senators back Trump foreign affairs pick
What now for countries in TPP?
What executive orders has Trump signed?
Internet defends Barron Trump
Trump-onomics: What do we know so far?
Trump cracks down on abortion funding
What is the TPP?
The trade deal, which covered 40% of the world's economy, was negotiated in 2015 by nations including the US, Japan, Malaysia, Australia, New Zealand, Canada and Mexico
TPP's stated aim was to strengthen economic ties and boost growth, including by reducing tariffs
It included measures to enforce labour and environmental standards, copyrights, patents and other legal protections
The agreement, backed heavily by US business, was designed to potentially create a new single market likened to the EU
Critics argued it was a not-so-secret gambit to box in China, which is not part of the agreement
What is the Trans-Pacific Partnership?
How China gains from US leaving TPP
The Trump administration's first weekday began with a flurry of executive orders, which allow the president to bypass Congress by issuing legally binding directions, mostly of limited scope, to federal agencies.
Mr Trump also signed an order blocking foreign aid or federal funding for any nongovernmental organisation that provides abortions abroad.
The so-called Mexico City policy was first established by Republican President Ronald Reagan in 1984.
It is typically rescinded by incoming Democratic presidents, including Barack Obama in 2009, and reinstated by Republican presidents.
The 12-nation trade deal was a linchpin of former President Barack Obama's Asia policy.
"Great thing for the American worker what we just did," said Mr Trump as he dumped the pact with a stroke of a pen.
He also cut funding for international groups that provide abortions, and froze hiring of some federal workers.
Mr Trump's executive order on TPP was largely symbolic since the deal has not been ratified by a divided US Congress.
During his presidential campaign, he criticised the accord as a "potential disaster for our country", arguing it harmed US manufacturing.
His action won some plaudits from the left as well as the right.
Democratic Senator Bernie Sanders told the BBC he backed it because trade deals like this have been a "disaster" and cost millions of jobs.
On Monday evening, Mr Trump's pick to be secretary of state, Rex Tillerson, was approved by the Senate Foreign Relations committee, and now requires confirmation from the full Senate.
And the new CIA boss will be Mike Pompeo, following a Senate vote of 66 to 32, in his favour.
Senators back Trump foreign affairs pick
What now for countries in TPP?
What executive orders has Trump signed?
Internet defends Barron Trump
Trump-onomics: What do we know so far?
Trump cracks down on abortion funding
What is the TPP?
The trade deal, which covered 40% of the world's economy, was negotiated in 2015 by nations including the US, Japan, Malaysia, Australia, New Zealand, Canada and Mexico
TPP's stated aim was to strengthen economic ties and boost growth, including by reducing tariffs
It included measures to enforce labour and environmental standards, copyrights, patents and other legal protections
The agreement, backed heavily by US business, was designed to potentially create a new single market likened to the EU
Critics argued it was a not-so-secret gambit to box in China, which is not part of the agreement
What is the Trans-Pacific Partnership?
How China gains from US leaving TPP
The Trump administration's first weekday began with a flurry of executive orders, which allow the president to bypass Congress by issuing legally binding directions, mostly of limited scope, to federal agencies.
Mr Trump also signed an order blocking foreign aid or federal funding for any nongovernmental organisation that provides abortions abroad.
The so-called Mexico City policy was first established by Republican President Ronald Reagan in 1984.
It is typically rescinded by incoming Democratic presidents, including Barack Obama in 2009, and reinstated by Republican presidents.
Trump spokesman Spicer: Our intention is not to lie
Donald Trump's spokesman has said the White House's intention is not to lie after a row over audience numbers at his inauguration.
Press secretary Sean Spicer also denied reports that those who had cheered Mr Trump during his appearance at the CIA's headquarters in Virginia at the weekend had been the President's supporters rather than spies.
In a long White House news conference, a reporter asked Mr Spicer: "Is it your intention to tell the truth from that podium?"
Mr Spicer replied: "I think sometimes you can disagree with the facts.
"Our intention is never to lie to you.
"We have a right to go out there and correct the record."
His comments came after he attacked the media for calling into question his claim that the audience for Mr Trump's inauguration was the "largest" ever.
Mr Spicer defended his attacks at the latest news conference by insisting his statement had been correct as he was including viewers on live streams and social media.
"It was the most watched inaugural. Just one network alone got 16.9 million people online," he said.
"There were tens of millions that watched that online, never mind the audience that was here.
"It's unquestionable and I don't see any numbers that dispute that."
:: Under Trump, reporters who write the truth will be called a 'liar'
He later admitted he was not saying that it was the largest audience to watch an inauguration in person.
Mr Spicer defended his boss over some media reports that staff he took with him to the CIA were the ones that cheered loudly during a speech he made, while the agency's staff clapped politely.
He claimed that just 10 of Mr Trump's staff were there and "10 people didn't yell that loud".
Mr Spicer went on to explain why he had been forced to attack the media to defend the President, saying: "It's not just about the crowd size... there is this constant theme to undercut what support he has.
"It's just unbelievably frustrating when you are continually told it's not big enough, it's not good enough, you can't win.
"He keeps getting told what he can't do... and then he goes and does it.
"There is this constant attempt to undermine the movement that he represents."
Also, on the day Mr Trump signed an executive order taking the US out of the Trans-Pacific Partnership, Mr Spicer told the news conference that Mr Trump had resigned from the Trump business empire.
Sky's Diplomatic Editor Dominic Waghorn said Mr Spicer had used the news conference to sound conciliatory with "what you might call a non-apology apology".
He added: "He's patched things up to a certain extent but I don't think the press will see this as a full apology. But he's trying to stress now that he is someone they can rely on. They'll have to make up their own mind about that.
"The other interesting thing about this was that he didn't take questions from the front row, the big beasts of American media... straight away. He took questions from people... from more conservative right-leaning organisations.
"The Trump White House is trying to be different."
Press secretary Sean Spicer also denied reports that those who had cheered Mr Trump during his appearance at the CIA's headquarters in Virginia at the weekend had been the President's supporters rather than spies.
In a long White House news conference, a reporter asked Mr Spicer: "Is it your intention to tell the truth from that podium?"
Mr Spicer replied: "I think sometimes you can disagree with the facts.
"Our intention is never to lie to you.
"We have a right to go out there and correct the record."
His comments came after he attacked the media for calling into question his claim that the audience for Mr Trump's inauguration was the "largest" ever.
Mr Spicer defended his attacks at the latest news conference by insisting his statement had been correct as he was including viewers on live streams and social media.
"It was the most watched inaugural. Just one network alone got 16.9 million people online," he said.
"There were tens of millions that watched that online, never mind the audience that was here.
"It's unquestionable and I don't see any numbers that dispute that."
:: Under Trump, reporters who write the truth will be called a 'liar'
He later admitted he was not saying that it was the largest audience to watch an inauguration in person.
Mr Spicer defended his boss over some media reports that staff he took with him to the CIA were the ones that cheered loudly during a speech he made, while the agency's staff clapped politely.
He claimed that just 10 of Mr Trump's staff were there and "10 people didn't yell that loud".
Mr Spicer went on to explain why he had been forced to attack the media to defend the President, saying: "It's not just about the crowd size... there is this constant theme to undercut what support he has.
"It's just unbelievably frustrating when you are continually told it's not big enough, it's not good enough, you can't win.
"He keeps getting told what he can't do... and then he goes and does it.
"There is this constant attempt to undermine the movement that he represents."
Also, on the day Mr Trump signed an executive order taking the US out of the Trans-Pacific Partnership, Mr Spicer told the news conference that Mr Trump had resigned from the Trump business empire.
Sky's Diplomatic Editor Dominic Waghorn said Mr Spicer had used the news conference to sound conciliatory with "what you might call a non-apology apology".
He added: "He's patched things up to a certain extent but I don't think the press will see this as a full apology. But he's trying to stress now that he is someone they can rely on. They'll have to make up their own mind about that.
"The other interesting thing about this was that he didn't take questions from the front row, the big beasts of American media... straight away. He took questions from people... from more conservative right-leaning organisations.
"The Trump White House is trying to be different."
Music video actor Ofner shot dead while filming in Australia
An actor has been shot dead in a bar in Brisbane while shooting a music video for Australian hip hop duo Bliss n Eso.
Johann Ofner was shot in the chest in what has been described by Queensland Police as a "workplace incident".
Authorities are investigating the incident at Brooklyn Standard bar in the city centre around 2.00pm local time (3.00am GMT).
Police said the shooting was believed to be accidental but that a criminal investigation had been opened.
The 28-year-old was an actor and a model, described in his talent online profile as "open minded and always eager to achieve new skills".
"During the filming of that scene several firearms were used," said Queensland state police detective inspector Tom Armitt.
"As a result of the use of those firearms one of the actors has received wounds to the chest and has subsequently died from his injuries."
Mr Armitt said "a number of bullets" were used during filming, but he could not confirm if it was live ammunition.
Members of the crew shooting the music video tried to resuscitate the man before the paramedics arrived, but he was pronounced dead at the scene.
Johann Ofner was shot in the chest in what has been described by Queensland Police as a "workplace incident".
Authorities are investigating the incident at Brooklyn Standard bar in the city centre around 2.00pm local time (3.00am GMT).
Police said the shooting was believed to be accidental but that a criminal investigation had been opened.
The 28-year-old was an actor and a model, described in his talent online profile as "open minded and always eager to achieve new skills".
"During the filming of that scene several firearms were used," said Queensland state police detective inspector Tom Armitt.
"As a result of the use of those firearms one of the actors has received wounds to the chest and has subsequently died from his injuries."
Mr Armitt said "a number of bullets" were used during filming, but he could not confirm if it was live ammunition.
Members of the crew shooting the music video tried to resuscitate the man before the paramedics arrived, but he was pronounced dead at the scene.
Samsung reveals cause of Galaxy Note 7 phone fires
Samsung has blamed faulty batteries for the fires that led to last year's humiliating recall of its Galaxy Note 7 device.
The batteries had been suspected as the cause but Samsung said on Monday that this had been confirmed by internal and independent investigations.
Around 700 researchers and engineers worked on the investigation, testing more than 200,000 devices and more than 30,000 batteries, the company said in a statement.
South Korea-based Samsung recalled 2.5 million Note 7s in September after several exploded or caught fire.
At the time, the company blamed the batteries, thought to be made by its sister firm Samsung SDI.
Batteries in the replacement phones were thought to have been provided by China-based ATL.
But after some of these devices also started to catch fire, Samsung killed off the Note 7 completely in October.
The saga severely damaged the company's reputation and cost it billions of pounds in lost profits.
Koh Dong-Jin, head of Samsung's mobile business, said on Monday: "We sincerely apologise for the discomfort and concern we have caused to our customers."
In a statement, the company added: "We are taking responsibility for our failure to ultimately identify and verify the issues arising out of battery design and manufacturing.
"The lessons of the past several months are now deeply reflected in our processes and in our culture."
It said it had taken "several corrective actions to ensure this never happens again".
Samsung shares closed 2% higher in Seoul after the announcement, which comes just a day before it is due to announce fourth-quarter and full-year results.
The batteries had been suspected as the cause but Samsung said on Monday that this had been confirmed by internal and independent investigations.
Around 700 researchers and engineers worked on the investigation, testing more than 200,000 devices and more than 30,000 batteries, the company said in a statement.
South Korea-based Samsung recalled 2.5 million Note 7s in September after several exploded or caught fire.
At the time, the company blamed the batteries, thought to be made by its sister firm Samsung SDI.
Batteries in the replacement phones were thought to have been provided by China-based ATL.
But after some of these devices also started to catch fire, Samsung killed off the Note 7 completely in October.
The saga severely damaged the company's reputation and cost it billions of pounds in lost profits.
Koh Dong-Jin, head of Samsung's mobile business, said on Monday: "We sincerely apologise for the discomfort and concern we have caused to our customers."
In a statement, the company added: "We are taking responsibility for our failure to ultimately identify and verify the issues arising out of battery design and manufacturing.
"The lessons of the past several months are now deeply reflected in our processes and in our culture."
It said it had taken "several corrective actions to ensure this never happens again".
Samsung shares closed 2% higher in Seoul after the announcement, which comes just a day before it is due to announce fourth-quarter and full-year results.
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