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 [...]
London’s most famous plumber Charlie Mullins: ‘I’d take another pandemic over Brexit every time’ December 16, 2020 Reflecting on the year that was, the coronavirus pandemic caused havoc in 2020 and helped to put this year down in the history books for the wrong reasons, London’s most famous plumber, Pimlico Plumbers’ founder and CEO Charlie Mullins, tells City A.M. this morning. “Having said that, I would relive this current crisis rather than endure [...]
Before the Bell: Flash PMIs and Federal Reserve in focus December 16, 2020 The pound had a pretty good day yesterday as optimism grows that a UK/EU deal on trade could well be within reach after some positive comments from Irish PM Micheal Martin. “While we’ve been here many times before, the prospect of an imminent deadline can help concentrate minds, and despite some push back over fear [...]
Bank of England set to hold policy amid Brexit and lockdown uncertainty December 16, 2020 The Bank of England is set to leave interest rates on hold when it announces monetary policy tomorrow, according to analysts, after expanding its bond-buying programme sharply last month. Economists said there was little reason for the Bank to act. The latest lockdown measures have not been as damaging as feared, while the BoE asset-purchase [...]
Before the Bell: Coronavirus mutation unsettles the market as London faces Tier 3 December 15, 2020 European markets underwent a rather mixed session yesterday, with the FTSE100 underperforming after it was announced that London and a good part of the south east of England was being put into tier 3 restrictions at midnight tonight, due to a new strain of the coronavirus which was spreading at a faster rate. “This of [...]
S&P: No-deal Brexit could threaten UK credit rating December 14, 2020 The UK’s credit rating could come under pressure if there is a no-deal Brexit that badly dents the country’s economic recovery, ratings agency S&P Global has said. It comes after Prime Minister Boris Johnson and EU Commission president Ursula von der Leyen pledged to extend Brexit talks beyond Sunday. The pound rose sharply today amid [...]