Four ferry firms sign £80m post-Brexit freight deal October 13, 2020 Four ferry firms have signed contracts with the Department for Transport (DfT) worth a combined £77.6m to provide freight services after Brexit. Brittany Ferries, DFDS, P&O and Stena Line will between them provide extra capacity for the equivalent of 3,000 heavy goods vehicles a week. The new contracts will ensure that vital medical supplies and other [...]
City to shift €150bn of UK assets into France ahead of Brexit October 13, 2020 Firms have begun shifting around €150bn (€135bn) of UK assets from the City into France ahead of the Brexit transition period deadline, according to the governor of the Bank of France. Francois Villeroy de Galhau told the Europlace International Financial Forum that the Bank of France has authorised asset shifts by 32 companies — mostly [...]
EU leaders ‘to insist on tough enforcement powers’ for any Brexit deal October 12, 2020 EU leaders are reportedly set to insist on tough enforcement measures for any trade deal with Britain, warning that Boris Johnson’s bid to override the Brexit treaty shows the UK’s word cannot be trusted. Leaders will call on chief Brexit negotiator Michel Barnier to ensure that so-called level playing field guarantees for EU businesses competing [...]
EU’s top court lands major blow to UK’s chances of post-Brexit data deal October 6, 2020 The EU’s top court has ruled that unrestrained mass surveillance of phone and internet data is unlawful, in the latest blow to the UK’s chances of securing a post-Brexit data-sharing agreement with the EU. The European Court of Justice (ECJ) today handed out its much-anticipated verdict on government surveillance, ruling that the indiscriminate retention of [...]
City urges government to rip up ‘fundamentally unfair’ immigration system October 6, 2020 The City of London Corporation has urged the government to shake up its “fundamentally unfair” immigration system to boost the UK economy’s post-pandemic recovery ahead of the Brexit transition period deadline. In a report released today in collaboration with EY, the City body called on the Home Office to “rip up the red tape” and [...]
Goldman Sachs backs sterling, saying Brexit deal in November likely October 5, 2020 Goldman Sachs is advising its clients to buy sterling, with analysts predicting that the UK and EU could reach a post-Brexit trade deal by early November. Analysts at the US investment bank said that while the risk of a breakdown in negotiations could not be ruled out, their “core view” was that a “‘thin’ zero-tariff/zero-quota [...]
No deal Brexit ‘catastrophic’ for NHS staff and supplies: medical chief October 5, 2020 A hard Brexit will have a “potentially catastrophic impact” on the NHS and its patients and staff, according to the deputy chair of the British Medical Association (BMA). Dr David Wrigley, who is also the BMA’s trade negotiations lead, fears that a no deal Brexit, which seems increasingly likely, would hit patients and staff across [...]
7,500 UK finance jobs shifted to EU since historic vote, as hard Brexit edges closer October 1, 2020 More than 7,500 UK finance jobs have headed for Europe since the 2016 EU referendum, with more relocations expected as City firms edge against a hard Brexit. In September alone, financial services firms moved more than 400 jobs to financial hubs across the EU, according to a new Ernst & Young report, published earlier this [...]
Car industry at risk of tariffs even if Brexit deal agreed September 30, 2020 The UK car industry may be hit by tariffs even if a free trade deal is agreed with the EU, the BBC reported today, due to issues over the provenance of certain car parts. Turkish and Japanese car parts used in cars made in this country will not be classed as British, meaning that some [...]
Britain and EU reach temporary agreement on derivatives clearing September 28, 2020 Britain and the EU have reached a temporary accord on the information-sharing arrangements needed for eurozone banks to continue to use London’s clearing houses until June 2022. Britain’s unfettered access to the bloc’s markets ends on 31 December. Brussels had already agreed to grant UK clearing houses temporary access for 18 months, but an updated [...]