Switzerland heads for Brexit-like EU clash with €227bn at stake from today May 26, 2021 From today, Swiss medical-technology companies will no longer be allowed to export duty-free to the European Union as Bern and Brussels failed to agree to a long-anticipated political treaty that would cover trade between the two countries. The goods-trading relationship at risk is worth $278bn, with medical-technology companies being the latest casualty of a deteriorating [...]
Martin Gilbert: UK good place to invest but global scene reminds me of 1999 May 25, 2021 City grandee Martin Gilbert has warned global stock markets remind him of 1999 – when the dot.com bubble burst in spectacular fashion. The founder of Aberdeen Asset Management and now Revolut chair said during a panel discussion that active rather than passive investing would come to the fore over the coming years. “When we eventually [...]
Deutsche Bank to move another 100 jobs out of London in post-Brexit overhaul May 25, 2021 Deutsche Bank is moving 100 jobs out of London and relocating the roles to the EU and Asia as the lender overhauls its corporate bank in the aftermath of Brexit. Germany’s biggest lender is making a quarter of the division’s 400 staff redundant, with their roles moved to Dublin, Berlin, Frankfurt and cities across Asia, [...]
UK-EU trade tumbles a quarter in first three months since end of Brexit transition period May 25, 2021 The total volume of trade between the UK and the EU plunged nearly a quarter in the first three months after the end of the Brexit transition agreement. New figures from the Office for National Statistics (ONS) today showed that total trade fell 23.1 per cent in the quarter, as compared with the same three [...]
Brexit exclusive: UK-Norway trade deal close to collapsing as Christian-Democrats block pact to protect farmers from British beef and cheese May 24, 2021 A comprehensive free trade deal between the UK and Norway is at risk of collapsing as the Christian Democrat party fears such a pact would hit farmers in Scandinavia’s richest country too hard. The Christian Democrats party (Krf), part of the current coalition government, plans to block opening up the Norwegian market to British beef [...]
Snooze you lose: London sleep tech firm Simba sees sales s-leap 295 per cent May 20, 2021 London-based sleep technology company Simba has not slept on sales this year as it posted a 295 per cent leap, in its highest-ever first-quarter sales and profits. The record year-on-year UK sales jump suggests consumers have invested heavily in their sleep after a tough 12 months while online shopping has seen a surge in interest. [...]
English farmers to be offered £100k to call it a day May 19, 2021 Older farmers in England will be paid to retire under a government scheme aimed at attracting new, younger, entrants into the industry. The plans, which are still subject to consultation, are part of a post-Brexit shift to a subsidy system and an overhaul of farm grants to encourage farmers to protect the environment. Environment Secretary [...]
Boris Johnson backs Australia free trade deal despite farmers’ fears May 19, 2021 Boris Johnson believes Australia should be offered a free trade deal with the UK, despite fears domestic farmers could be hit by price competition from overseas. Johnson will back plans to offer Australian agricultural exporters the same zero-tariff, zero-quota terms as those enjoyed by the European Union. There has been backlash from the UK’s National [...]
Brexit post-mortem for the City: London’s ‘Golden Age’ is over, warns NatWest chair Howard Davies May 18, 2021 The City of London’s will remain a global financial centre but may not see the ‘golden age’ again, according to NatWest bank chairman Howard Davies. “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure,” the City [...]
‘Ferocious’ row blazing in Whitehall over Australia trade deal May 18, 2021 Ministers are divided over whether to sign off a trade deal with Australia after the department of agriculture and the department of internal trade could not come to an agreement on the terms. Ministers were battling over whether to grant tariff-free access to Australian farmers, the Financial Times reported, a move that could spark backlash [...]