Brexit: Barnier says progress made but fisheries still holding up deal December 22, 2020 Michel Barnier has told EU Ambassadors that progress has been made towards a Brexit deal, according to multiple reports. However, fisheries remains the key stumbling block and as a result there is now doubt that a deal will be ready in time for the December 31 deadline. Barnier is reported to have said that his [...]
New: Barnier: “Final push” in negotiations but no plan for extension December 22, 2020 EU negotiator Michel Barnier has said that negotiations are at a “crucial moment” as he effectively ruled out any extension to the transition period. He told media that “we are giving it a final push” but warned that the UK “will leave the single market” in 10 days’ time. Some, including Mayor of London Sadiq [...]
City analysts wait for a Brexit deal too important not to be done December 22, 2020 City analysts continue to believe that a Brexit trade deal will be done, even as talks remain unfinished just 8 days before the UK’s departure from the EU. Fears of a so-called ‘no deal’ Brexit have hung over markets for more than four years, but many respected watchers simply believe a deal is too important [...]
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 [...]