EU confirms Brexit-adjusted carbon market permit removals for 2021 December 12, 2020 The European Commission confirmed late on Friday how many pollution permits will be removed from the European Union carbon market in 2021 due to the UK’s departure from the scheme at the end of this year. The carbon market is the EU’s flagship climate policy, forcing power plants, industry and airlines running intra-EU flights to [...]
UK to fast track some perishable goods at ports from 1 January December 12, 2020 The UK will fast track the movement of some perishable goods when its Brexit transition period with the European Union ends on 31 December as part of efforts to deal with expected disruption at British ports, the BBC reported earlier today. The UK government has warned that even with a trade deal with the EU, [...]
Navy patrol ships on standby to protect UK from EU’s fishy business December 11, 2020 Four Royal Navy patrol ships are on standby for 1 January in case of a no-deal Brexit, ready to help to protect the UK’s fishing waters. The 80-metre long armed vessels would have the power to halt, inspect and impound all EU fishing boats operating within the UK’s exclusive economic zone (EEZ), which can extend [...]
Macron promises not to ‘have cake and eat it’ in Brexit negotiations December 11, 2020 French President Emmanuel Macron has insisted that the EU is not “asking to have its cake and eat it” in Brexit negotiations on fishing rights. Responding to a question on the European Commission contingency plans for a no-deal Brexit this morning, Macron said “I don’t want to have my cake and eat it too. No, [...]
Professional services firms to be called on to help make sense of Brexit December 11, 2020 Professional services firms will play an important role in deciphering a Brexit deal – should the UK get one – or what the rules will be in the event of a no-deal scenario. Time is running out for the UK and the EU to agree a post-Brexit trade deal. On the last day of the [...]
UK tourists banned from EU travel from 1 January December 11, 2020 British holidaymakers will be temporarily banned from travelling to the EU on 1 January, with Brussels saying its travel exemption will be taken away after the Brexit transition period ends. Very few non-EU or EEA countries, with low Covid rates, are allowed to travel to member states under current restrictions. Borders are still open to [...]
Morgan Stanley: UK bank shares could fall 20 per cent in no-deal Brexit December 11, 2020 Morgan Stanley has said UK bank shares could tumble 10 to 20 per cent in a no-deal Brexit, with the FTSE 250 dropping as much as 10 per cent. It comes as the UK and EU struggle to sign a free-trade agreement. Prime Minister Boris Johnson yesterday said a no-deal Brexit outcome was now a [...]
No-deal Brexit likeliest outcome, Ursula von der Leyen tells EU leaders December 11, 2020 A no-deal Brexit is now likelier than the UK leaving the transition period with a trade deal, Ursula von der Leyen has told EU leaders. Speaking on the second day of a two-day summit in Brussels, the European Commission president refused to put a percentage on the chances of agreement but told EU leaders there [...]
EU agrees deal to cut carbon emissions 55 per cent by 2030 December 11, 2020 EU leaders have agreed to set an ambitious target of slashing greenhouse gas emissions by 55 per cent over the next decade. The figure marks a significant increase on a target to reduce emissions by 40 per cent set in September. The deal comes after more than 10 hours of intense discussions overnight, as several [...]
Before the Bell: Preparations start for a no deal Brexit December 11, 2020 It was another mixed session for European stocks yesterday, with the FTSE100 outperforming on the back of a slightly weaker pound, but it was notable that we saw heavy falls in UK banks and other stocks with a domestic focus on no deal Brexit concerns. Brexit talks With UK/EU trade talks extended to the weekend, [...]