47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study December 8, 2020 Brexit will have a far greater impact on UK trade than it will on EU businesses, primarily because the UK relies more heavily on the EU for its imports and exports than vice versa. According to a new study by the ifo Center for International Economics, the UK relied on the EU for 50 per [...]
Before the Bell: Deal or no deal, as the choreography steps up December 8, 2020 Equity markets got the week off to a negative start yesterday, weighed down by a combination of concerns over rising coronavirus cases in the US, and the prospect that the UK and EU appear to be heading down a road to no deal, at the end of this month. From the initial optimism of Sunday [...]
Brexit talks to continue today after Boris Johnson and von der Leyen call December 8, 2020 Brexit talks will continue this week in Brussels after Boris Johnson and Ursula von der Leyen agreed to give negotiations a final shot. Johnson and von der Leyen are believed to have spoken for about an hour last night to discuss if a deal can be finally agreed before the 31 December deadline. They will [...]
UK jobs market attracts global interest after visa offer to Hong Kong December 8, 2020 Interest in the UK jobs market from non-EU workers has jumped 20 per cent, driven by a surge in job seekers from Hong Kong, according to a new survey. Interest in the London jobs market from non-EU workers has overtaken that from EU ones for the first time in seven years, according to data released [...]
Brexit: UK ‘prepared’ to axe controversial Internal Market Bill clauses that break international law December 7, 2020 The UK government is “prepared” to remove the controversial Northern Ireland clauses in Boris Johnson’s Internal Market Bill, that could breach international law, if a UK-EU post-Brexit trade deal is reached. A government statement released this afternoon said the UK was willing to take out all clauses in the Internal Market Bill and following Finance [...]
No-deal Brexit could force the army to airlift Covid-19 vaccine to UK December 7, 2020 A government minister has suggested that in the event of a no-deal Brexit, the Armed Forces may be required to airlift the Covid-19 vaccine from Belgium. Tory minister James Cleverly confirmed that the government is looking at the possibility of using ”non-commercial flights” to make sure the Pfizer vaccine can still be delivered to the [...]
Brexit: Michel Barnier tells MEPs that Wednesday is final deadline for deal December 7, 2020 Brussels’ chief negotiator Michel Barnier has reportedly told MEPs that Wednesday is the final deadline to salvage to a UK-EU trade deal and escape a no-deal Brexit. Barnier spoke to MEPs and to EU ambassadors this morning, after in-person negotiations with his UK counterpart Lord David Frost in Brusels yesterday. Talks continue in Brussels today. [...]
Pound slides as investors fret over Brexit talks December 7, 2020 The pound fell sharply as investors began to question whether a Brexit deal would be reached, with traders unwinding bets made last week amid fresh uncertainty over negotiations. Sterling tumbled 1.3 per cent against the dollar to $1.326, having hit a two year high of $1.354 on Friday. The pound also slid against the euro, [...]
Posters and adverts aren’t enough to prepare business for Brexit, says BCC December 7, 2020 Businesses still don’t have enough information available on Brexit in critical areas with just 24 days to go until the end of the transition period, an industry body has warned. The British Chamber of Commerce (BCC) has warned that the government’s Brexit guidance remains insufficient in a number of key areas. Its Brexit guidance dashboard [...]
Before the Bell: Fishing for a deal December 7, 2020 While markets in Europe underwent a fairly mixed week, the FTSE100 was notable in undergoing a significantly strong move higher to its best levels since March, driven up by a combination of optimism over the rollout of a vaccine, which begins this week, and the prospect of a possible UK/EU trade deal. US markets also [...]