Exclusive: Siemens UK boss explains why the pandemic has been a ‘helpful’ distraction from Brexit December 21, 2020 Despite the many difficulties, the pandemic also brought some good, such as a distraction from Brexit, Siemens UK CEO Carl Ennis tells City A.M. in an exclusive interview. Read more: Siemens UK chief executive Juergen Maier announces early retirement Brexit The fact that the virus pushed Brexit down the hierarchy of news was helpful, in Ennis’ [...]
Westminster year in review: Who is up and who is down in 2020? December 21, 2020 As the UK ushered in 2020 it looked as if Boris Johnson had an unshakeable grasp on Westminster and the Conservative party. Johnson’s election landslide win last December and his victory in dragging the UK out of the EU in January made him look infallible. Before the Open newsletter: Start your day with the City [...]
US agrees $900bn Covid stimulus package December 21, 2020 Congressional leaders in the US have agreed a $900bn coronavirus stimulus package to help individuals and the economy affected by the coronavirus pandemic. The package would be the second-largest economic stimulus in US history, following a $2.3tn aid bill passed in March. It comes as the pandemic accelerates, infecting more than 214,000 people in the [...]
The End of the Affair: The EU and UK have very different foreign policy destinies December 21, 2020 As the year draws to an end, City A.M. is looking back at the columns that illuminated the world around us. In The End of the Affair (1951), Graham Greene — to my mind the most underrated novelist of the twentieth century — perfectly encapsulates the chaotic feelings lying behind romantic breakup and emotional calamity. [...]
UK registers record rise in coronavirus cases as Tier 4 comes into force December 20, 2020 The number of coronavirus cases jumped by the most since the start of the pandemic on Sunday, with 35,928 new instances of Covid recorded as of 9am. A further 326 people have died within 28 days of testing positive for coronavirus in the UK, the government said. It was down from the 534 recorded on [...]
Pound traders brace for tense week as Brexit talks continue December 20, 2020 Sterling traders are gearing themselves up for another nervy week amid fears that a collapse in Brexit talks could spark a sharp sell-off in the pound. Negotiations are ongoing, but noises from both camps suggest they remain stuck on fishing rights and competition policy. British health secretary Matt Hancock this morning told Sky News that [...]
Publish which firms get furlough cash, government told December 20, 2020 The government should publish a list of companies that have received furlough money to increase transparency around the scheme, amid fears of waste and fraud, parliament’s spending watchdog has said. The cross-party Public Accounts Committee (PAC) also said that chancellor Rishi Sunak’s repeated extensions to the scheme at short notice caused uncertainty that could have [...]
UK still not ready for Brexit, MPs warn December 19, 2020 With just seven working days until the Brexit transition period comes to an end, “significant concerns” remain, MPs have said. A cross-party parliamentary report has warned of a potentially challenging start to 2021, as businesses, traders and the general public adjust to a life outside of the European Union. The report warned the government must [...]
Johnson urges EU to ‘see sense’ as Brexit trade talks enter 48-hour crunch time December 19, 2020 Trade talks between the UK and EU will continue this weekend, marking another critical 48 hours for the negotiations as the end of the transition period looms closer. The two sides remain stuck on issues that have plagued them for months, including fisheries, so-called level playing field arrangements and state aid. Yesterday the EU’s chief [...]
India will be the big winner of this new world order December 19, 2020 Delhi benefits from the structural fact that though we presently live in an era epitomised by superpower bipolarity, it is a very different type of two-power standoff than was the Cold War. From 1945–1991, America and the Soviet Union so dominated the international scene that they easily lined up much of the rest of the [...]