With little ado, a divided United Kingdom casts off into the Brexit unknown January 3, 2021 By Guy Faulconbridge and Kate Holton LONDON (Reuters) – The United Kingdom began the New Year outside the European Union’s orbit on Friday after ending a tempestuous 48-year liaison with the European project, its most significant geopolitical shift since the loss of empire. Brexit took effect in substance on Thursday at the strike of midnight [...]
US trade chief believes next WTO director-general should have ‘real experience’ December 18, 2020 The US trade chief Robert Lighthizer has implied that the process to find the next World Health Organisation (WTO) director-general should be re-opened. In Lighthizer’s first ever international interview, he told the BBC on Wednesday that the next WTO director-general should be ”someone with real experience in Trade.” Lighthizer goes on to say that the [...]
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 [...]
Before the Bell: Deadlines come, and deadlines go December 14, 2020 Uncertainty over the prospect of a stimulus deal or economic aid package saw US markets finish last week on the back foot, as US politicians once again put party politics ahead of the people they are supposed to represent. “With a deadline fast approaching by year end US lawmakers are once again split down the [...]
UK signs free-trade deals with Vietnam and Singapore December 11, 2020 The UK has signed a continuity free-trade agreement with Vietnam the day after it penned a deal with Singapore. The Singapore deal protects trade that was worth £17.6bn last year while the Vietnam agreement protects £5.7bn of trade, the government said. Trade secretary Liz Truss, who is in south east Asia, said: “Both these agreements are [...]
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, [...]
Before the Bell: Boris heads to Brussels December 9, 2020 After a negative start to the week on Monday, markets in Europe trod water yesterday, awaiting the next developments as we head towards the final denouement of the saga of the EU/UK trade talks, while the first day of the vaccine rollout in the UK also drew a lot of attention. “Ordinarily an event such [...]
UK signs post-Brexit trade deal with Norway and Iceland December 8, 2020 The UK just signed in London a post-Brexit rollover trade deal with Norway and Iceland. The agreement covers trade in goods, and ensures 95 per cent of goods trade with Norway and over 90 per cent with Iceland will remain tariff-free, providing businesses with certainty that they can continue to operate on the same terms [...]
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 [...]
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 [...]