Andrew Bailey faces another tough year at Bank of England in 2021 December 22, 2020 Mark Carney must be thanking the gods he stepped down as Bank of England governor in early March. Since then, his successor Andrew Bailey has had to steer the historic institution through the worst economic downturn in 300 years, complete with a bout of market panic in the spring. Under Bailey’s leadership the Bank slashed [...]
Global markets slump amid fears of mutant virus and UK border chaos December 21, 2020 The FTSE 100 and US and European stocks tumbled on Monday while the pound slumped after countries banned travel from the UK over fears of a new coronavirus strain. Adding to the gloom on markets was the impasse in post-Brexit trade talks between the UK and the EU. Rising coronavirus cases in Britain, on the [...]
Exclusive: Siemens UK boss explains why the pandemic has been a ‘helpful’ distraction from Brexit December 21, 2020 Despite the many difficulties, the pandemic also brought some good, such as a distraction from Brexit, Siemens UK CEO Carl Ennis tells City A.M. in an exclusive interview. Read more: Siemens UK chief executive Juergen Maier announces early retirement Brexit The fact that the virus pushed Brexit down the hierarchy of news was helpful, in Ennis’ [...]
Pound plummets as countries ban UK travel and Brexit talks falter December 21, 2020 The pound fell off a cliff on Monday after France, Germany and others cut transport links with the UK amid fears of a new coronavirus strain, while Brexit talks reached another impasse. Sterling dropped 2.1 per cent against the dollar to $1.323. It also fell 1.2 per cent versus the euro to €1.089. The FTSE [...]
Coveney: Brexit negotiations “not in a good place” December 21, 2020 Ireland’s foreign minister Simon Coveney has said Brexit negotiations are “not in a good place” as trade talks continue. Brexit talks between the EU and UK are ongoing this week. With the end of the transition period looming, the two sides have less than two weeks to strike a deal. Today Coveney said talks between [...]
Brexit talks continue but miss European Parliament deadline December 21, 2020 Talks on the UK’s exit from the EU will continue today despite missing the European Parliament’s Sunday night deadline for an agreement. The Parliament, which will need to ratify any agreement, had said last week that it would only hold an emergency meeting if a deal had been struck by midnight Sunday. Read more: Sterling [...]
Pound traders brace for tense week as Brexit talks continue December 20, 2020 Sterling traders are gearing themselves up for another nervy week amid fears that a collapse in Brexit talks could spark a sharp sell-off in the pound. Negotiations are ongoing, but noises from both camps suggest they remain stuck on fishing rights and competition policy. British health secretary Matt Hancock this morning told Sky News that [...]
Brexit talks continue as UK demands EU withdraw “unreasonable demands” December 20, 2020 Sticking points including fisheries and the level-playing field continue to plague Brexit talks as they enter the final stages. The European Parliament has set an effective deadline of midnight today if it is to be ratified in time for the UK’s departure on December 31. Health Secretary Matt Hancock told Sky News this morning: “We [...]
UK still not ready for Brexit, MPs warn December 19, 2020 With just seven working days until the Brexit transition period comes to an end, “significant concerns” remain, MPs have said. A cross-party parliamentary report has warned of a potentially challenging start to 2021, as businesses, traders and the general public adjust to a life outside of the European Union. The report warned the government must [...]
Johnson urges EU to ‘see sense’ as Brexit trade talks enter 48-hour crunch time December 19, 2020 Trade talks between the UK and EU will continue this weekend, marking another critical 48 hours for the negotiations as the end of the transition period looms closer. The two sides remain stuck on issues that have plagued them for months, including fisheries, so-called level playing field arrangements and state aid. Yesterday the EU’s chief [...]