Post-Brexit delays are ‘teething problems’, says minister January 14, 2021 Environmental secretary George Eustice told the House of Commons earlier today that post-Brexit customs delays, currently heavily impacting Scottish fishing exports, are only “teething problems”. Scottish First Minister Nicola Sturgeon called the backlog “shameful” on Twitter last night, in a push for compensation for Scottish fishermen. Eustice said that the government will ‘remain open’ to [...]
Boohoo enjoys strong growth but admits Brexit will drive up costs January 14, 2021 Brexit is likely to drive up prices at Boohoo, with additional costs largely relating to distribution and administration to blame. In a market update this morning the online retailer said it had implemented a system that was designed to minimise the impact of Brexit on its European customers, and it would try to mitigate extra costs [...]
What has Brexit done to property prices? January 14, 2021 The London and UK property market has, so far, remained relatively impervious to any post-Brexit related decline. Despite claims by the Bank of England that leaving the EU could see house prices fall by up to 35 per cent over three years, new research by Keller Williams UK has found that, so far, this has [...]
Boris Johnson vows to reimburse fishermen hit by Brexit ‘teething problems’ January 13, 2021 Boris Johnson has vowed to reimburse Scottish fishermen facing post-Brexit disruption and said current difficulties were only “teething problems”. The Prime Minister told a Westminster committee today that he understood “the frustrations of the fishing community” and that it will only be “a temporary frustration”. British seafood exporters have been hit by two weeks of [...]
Exclusive: City fund managers on the impact of the third lockdown January 13, 2021 In this 2-part series, City A.M. asked UK-focused fund managers what they make of post-Brexit trade arrangements, the impact of three lockdowns and the long-term outlook for the UK’s investment community. Yesterday, in part 1, the investment managers focused on the UK-EU deal and which sectors and companies may become the winners and losers from [...]
Robert Walters: We stand to benefit from any Brexit repercussions January 12, 2021 Leading recruitment boss Robert Walters has said that despite a challenging year the firm stands to benefit from any Brexit repercussions because of its wide geographic reach. The FTSE 250 firm has offices across the world with a strong presence in Asia, where performance has improved in recent months. Its trading update published today showed [...]
Exclusive: City fund managers on the winners and losers from the Brexit deal January 12, 2021 The Christmas Eve announcement of a UK-EU trade deal promised an end to four and a half years of uncertainty and speculation. Whilst there are areas of the relationship still to be finalised, it has brought some much-needed clarity to many UK businesses, even though uncertainty for the financial services space and the City remains. [...]
Ocado sounds alarm on product availability as supermarket shelves stand empty January 11, 2021 Ocado has warned that the availability of some products is being impacted by coronavirus-related staff absences in its supply chain. With more staff off sick or forced to isolate some grocery suppliers are having to consolidate their lines. “Staff absences across the supply chain may lead to an increase in product substitutions for a small [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City A.M., the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
Explainer: What the Brexit deal means for UK nationals and EU migration January 8, 2021 | City Talk New immigration rules and pandemic travel restrictions are colliding to cause a bumpy start to 2021. Although the Brexit transition deadline has passed, individuals who are eligible can continue apply under the Withdrawal Agreement until 30 June 2021 in many cases. There is confusion in these early days and some airlines have reportedly refused boarding [...]