New: European Parliament paves way for emergency Brexit session December 17, 2020 The European Parliament ‘stands ready’ to convene an emergency session before the end of the year if the United Kingdom and the European Union can strike a deal by midnight Sunday. In a statement, bosses said if a deal was struck by “midnight on Sunday 21December” and though this is not in fact the date [...]
Mid-market firms optimistic about Brexit impact despite talks dragging December 17, 2020 Despite the increasing possibility of a no-deal Brexit, 38 per cent of UK mid-market business predict that Brexit would have a positive impact on their business.
Breaking: Macron tests positive for coronavirus December 17, 2020 French President Emmanuel Macron has tested positive for coronavirus, throwing a potential spanner in hopes of clinching a last-minute Brexit deal. The Elysee palace this morning announced Macron had tested positive after showing early symptoms. The French premier will now self-isolate for seven days, though he will continue to carry out his duties remotely. Spanish [...]
Pound hits 31-month high on Brexit hopes and dollar weakness December 17, 2020 The pound has shot up to its highest level since early 2018, with investors hoping the UK will soon sign a post-Brexit trade deal and the dollar falling sharply. Sterling was last up 0.6 per cent at $1.358, a 31-month high. It was 0.3 per cent higher against the euro at €1.111. The British government [...]
Watches of Switzerland repays furlough cash as it clocks surge in sales during pandemic December 17, 2020 Watches of Switzerland has raised its full-year guidance and announced it will repay furlough cash, after clocking a major boost in profits and sales during the pandemic. Operating profit at the luxury watchmaker beat expectations over the six months to 25 October, hiking 52 per cent year on year to £45.6m. Adjusted earnings before tax [...]
UK and US enter talks over mini-deal on tariffs December 17, 2020 The UK has entered talks with outgoing US President Donald Trump’s administration over a potential mini-deal to reduce trade tariffs. US trade chief Robert Lighthizer said he was hopeful for a deal that could see punitive tariffs on Scottish whisky lowered, according to the BBC. He also suggested the UK would need to go further [...]
Govt rejects £33m proposal for more passport booths at Dover leaving longer queues more likely December 16, 2020 The UK cabinet office has rejected a £33m proposal to double the capacity for French government passport checks at Dover, dooming UK passengers to long delays at the border post-Brexit. The port of Dover, which handles 2.2 million passenger vehicles each year, requested the funding in October to help it to pay for additional Brexit-related [...]
Pound hits two-year high as hopes of Brexit trade deal rise December 16, 2020 The pound hit its highest level in two years after market optimism rose that the UK and EU would strike a post-Brexit trade agreement. Sterling climbed 0.5 per cent to $1.352 having earlier touched $1.355, its highest level since the spring of 2018. The pound was up 0.3 per cent against the euro at €1.109. [...]
Ursula von der Leyen: ‘Narrow path to agreement’ in Brexit talks December 16, 2020 Ursula von der Leyen said there is a "path to agreement now" this morning, as hopes of striking a Brexit deal by the end of the week rise.
UK firms see ‘severe pressure’ on supply chains ahead of Brexit deadline December 16, 2020 UK manufacturing firms faced “severe pressure” on their supply chains in December ahead of the Brexit deadline, causing shortages of crucial parts, a survey has shown. It comes after 10-mile lorry queues were witnessed in Calais over the weekend, as businesses tried to stockpile in case of a no-deal Brexit. Britain and the EU are [...]