Brexit: EU not serious about restarting trade talks, says minister October 20, 2020 The EU’s offer to restart broken down Brexit trade talks amounted only to “lip service”, according to a UK business minister. Nadhim Zahawi said today that the UK still wanted a Brexit trade deal, despite Boris Johnson refusing to come back to the negotiating table, but that talks would not continue until Brussels treats Britain [...]
Pound jumps on signs a Brexit deal can still be done October 19, 2020 The pound surged as investors bet that Brexit talks would resume – despite the UK’s tough rhetoric – and eventually result in some kind of free-trade agreement. Sterling was up 0.7 per cent by mid-morning at $1.30. It had risen 0.5 per cent against the euro to stand at €1.107. Prime Minister Boris Johnson struck [...]
UK can be a ‘free agent’ in financial markets after Brexit, says think tank October 19, 2020 The UK can be a significant “free agent” in the global banking and financial markets once Brexit is over, a new report claims. As negotiations continue in the next few weeks and Bois Johnson steps up his no-deal rhetoric, the UK’s banking and finance industry is in for a seismic change. A report by think [...]
Half of UK financial services staff want shift to flexible working October 19, 2020 Half of Brits working in the financial services sector want to shift to a more flexible working model after the coronavirus pandemic ends, a new survey has revealed. The outbreak of Covid-19 has sparked a major change in working habits, as stay-at-home orders have fuelled a sharp rise in home working. A survey by KPMG [...]
Brexit: Macron and Merkel clash over hopes for UK trade deal October 15, 2020 Hopes for a trade deal with the EU remained ambiguous at today’s EU summit, with French President Emmanuel Macron and German Chancellor Angela Merkel disagreeing over whether the UK will secure a deal before the Brexit deadline. Macron told a meeting of EU leaders in Brussels today: “I hope to finalise a Brexit deal in [...]
Brexit: No deal could ground UK-EU flights, Grant Shapps admits October 15, 2020 The transport secretary has admitted that a no-deal Brexit could lead to flights between the UK and EU grounded from the beginning of next year. Speaking at travel trade body ABTA’s virtual conference, Grant Shapps admitted that with just 78 days to go before the end of the transition period, the two sides were still [...]
Goldman Sachs: Brexit drama ahead but thin deal could be reached October 15, 2020 There could be Brexit-related drama at this week’s EU summit but a thin Brexit deal is likely to be struck by early November, Goldman Sachs analysts said. “We think the perceived probability of ‘no deal’ will persist through the course of October,” analysts led by Sven Jari Stehn wrote in a client note. “But our [...]
Boris Johnson turns his back on today’s Brexit trade deal ‘deadline’ October 15, 2020 Prime Minister Boris Johnson will not walk away from Brexit negotiations today, despite setting a 15 October deadline for reaching an “outline” for a trade deal with the EU. Johnson signaled that he will not decide whether an agreement with the bloc is possible before today’s EU summit in Brussels, following advice from Brexit envoy [...]
EU markets watchdog working on ‘Plan B’ to move euro clearing from London October 14, 2020 The European markets watchdog is working on a “Plan B” that would move clearing of euro-denominated derivatives out of London if the bloc decides not to grant the UK long-term access to its markets. The London Stock Exchange’s LCH unit has been given permission by the bloc to continue clearing derivatives for EU customers for [...]
UK’s £225bn professional services industry risks ‘catastrophic’ hit from Brexit October 14, 2020 Britain’s £225bn professional services industry has been ignored by the government and is under “catastrophic” threat of losing business to the EU post-Brexit, a parliamentary committee has warned. A House of Lords’ EU services subcommittee report published yesterday said the UK’s accountants, lawyers, recruiters, architects and advertisers are under risk of losing contracts and jobs [...]