UK’s trade deficit widens to record £27.9bn as business with Russia reaches historic low August 13, 2022 New data showed this morning that UK’s trade deficit in goods and services widens again in Q2 to a record £27.9bn. Moreover, monthly imports from Russia dropped to meagre £33m, the lowest since records began and down from over £1.8bn in both January and February of this year. Also during Q2, imports increased by £14.3bn [...]
£16.9bn boost for Brexit Britain as UK to EU exports hit highest level ever recorded July 13, 2022 Goods exports to the EU reached £16.9bn in May, their highest level since the series began in 1997, according to the latest trade figures from the Office for National Statistics (ONS). In fact, the ONS found that UK imports and exports of goods rose overall by £2.2bn and £2.3bn respectively in May 2022. The higher [...]
Chicago Mayor: Brexit could be ‘real opportunity’ to forge closer ties with London July 13, 2022 The Mayor of Chicago said Brexit could be a “real opportunity” to forge closer ties with London today as she looks to court fintech firms on a trip to the Capital this week.
£31bn boost for Global Britain as UK exports to Commonwealth markets hit highest level in 15 years June 28, 2022 Exactly one month away from the Commonwealth Games in Birmingham, new analysis shows today that goods exports to the Commonwealth reached £31.6bn in the 12 months to April of this year, the largest respective period in over 15 years. It is larger than the amount of goods exported to other key nations like Germany (£30.1bn), [...]
UK among G7 countries to ban Russian gold imports June 26, 2022 Exported Russian gold will be shut out of the UK, Canada, US and Japan under a batch of fresh sanctions designed to ramp up pressure on Moscow’s war efforts, the government announced today.
Brexit has damaged UK’s competitiveness, reduced productivity and lowered Brits’ real wages, LSE says June 22, 2022 A new bombshell study said this morning that Brexit has damaged Britain’s competitiveness, reducing productivity and lowering workers’ real wages in the years ahead. The report said Britain has experienced a decline of 8 per cent in trade openness – trade as a share of economic output – since 2019, losing market share across three [...]
Trade Secretary touches down in Saud-Arabia to kick off talks on £33bn trade deal with six Gulf states June 22, 2022 The UK economy could receive a boost of up to £1.6bn a year via a trade deal with six Gulf stations. Talks on such an agreement kick off today with a meeting in Saudi Arabia. Trade Secretary Anne-Marie Trevelyan will meet representatives of the Gulf Co-operation Council (GCC) in Riyadh to begin negotiations on a [...]
Commonwealth is ‘unique’ opportunity for Global Britain after Brexit, says Boris Johnson ahead of leaders meeting in Rwanda June 20, 2022 Prime Minister Boris Johnson has said that Britain’s membership of the Commonwealth provides a “unique opportunity” to expand its trade with a series of “vast and growing” markets now that it has left the EU. The Prime Minister, who will this week attend the Commonwealth heads of government meeting in Rwanda, said economic links with [...]
City broker Britannia Global Markets cancels LME membership following March nickel price fiasco June 9, 2022 Derivatives broker Britannia Global Markets has said it is giving up its membership to the London Metal Exchange (LME), after the London market halted nickel trading in March in response to surging prices. Britannia said it had decided to cancel its Category 2 membership to the LME, which allows it to trade on behalf of [...]
Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]