UK knows EU will not grant the City access to financial services: Lord Hill March 26, 2021 There is a growing realisation that the UK should not wait for the EU to give the UK access for financial services but get on with building a more competitive, outward-looking City of London, according to Jonathan Hill. Lord Hill, a former EU Commissioner for financial services who recently authored a report on easing the [...]
UK to announce ‘enhanced’ trade deal with Canada March 22, 2021 The UK is set to announce an enhanced trade deal with Canada, the trade secretary has said, after the two nations ratified a post-Brexit agreement last week. Speaking at a Conservative Friends of Australia event on Zoom this evening, Liz Truss said the UK was working “very closely” with “like-minded partners” to tackle issues such [...]
Barclays expands private bank to France and Italy in bid to grow EU business March 22, 2021 Barclays has expanded its private banking division to France and Italy as it looks to grow its European wealth business in the wake of Brexit. The bank said on Monday that it had appointed Bernard Corneau and Carlo Baronio as heads of private bank coverage in France and Italy respectively. The duo will be supported [...]
Exclusive: ‘EU will remain our key trading partner’, says London’s Deputy Mayor for business March 19, 2021 Last week it was announced that the rapid rollout of Covid-19 vaccines has led to business confidence hitting its highest levels in three years. The increase has been driven by the success of the vaccine rollout, especially in the UK, which has left firms more confident that restrictions will soon be lifted. Despite the increased confidence, UK’s [...]
Post-Brexit financial services pact with the EU ‘coming this month’ March 18, 2021 A financial services cooperation pact between Britain and the EU is expected before the end of the month, which would see the blocs able to cooperate more closely on financial services regulation in a post-Brexit world. Britain’s financial services industry has been largely cut off from the EU, its biggest customer, since the Brexit [...]
Exclusive: City’s venture capital guru on Brexit, fundraising and impact investing March 17, 2021 With Brexit just behind us, and the pandemic gradually being brought under control, it seemed like a good time to measure the temperature of London’s venture capital investment space. City A.M. sat down with David Hall, for his first major interview as chairman of the Venture Capital Trust Association, since succeeding Stuart Veale in January [...]
EU launches legal action against UK over Northern Ireland row March 15, 2021 The European Commission has launched legal action against the UK for its move to unilaterally postpone new post-Brexit checks on goods coming into Northern Ireland. The European Commission vice president Maros Sefcovic said today that the UK “must properly implement [the Brexit Withdrawal Agreement] to achieve our objectives”, which is “why we are launching legal [...]
UK manufacturers in cash scramble as Covid and Brexit dents profits March 15, 2021 UK manufacturers are suffering a triple whammy of lower sales, declining profits and a “painful cash squeeze”, according to new Insider Pro research. Insider Pro has analysed the accounts of almost 1,500 small and medium-sized manufacturers, which is around a quarter of the industry’s UK workforce. Read more: Brexit: UK food manufacturers to face millions [...]
Farmers union slams free pass for EU imports as UK food exports face red-tape and higher costs March 12, 2021 Farmers union pleads for level playing field on EU imports as food exports face financial barriers
Brexit: UK to EU exports collapse by 40 per cent following end of transition period March 12, 2021 The value of UK exports to the European Union plummeted by £5.6bn after the Brexit transition period ended, in the sharpest drop since records began. Total exports of goods fell by £5.3bn, or 19.3 per cent, from December 2020 to January 2021. The fall was mainly driven by a 40.7 per cent drop in exports [...]