Brexit: City’s top man says firms grew ‘complacent’ prior to split from EU February 21, 2023 The Lord Mayor has said British businesses got “complacent” prior to Brexit – and will now need to work harder to develop relationships across the world. In an interview with the Sydney Morning Herald ahead of a trip to Australia this week, Nicholas Lyons said there would need to be an “enormous step up from [...]
Pressure mounts on Sunak over planned six per cent rise in corporation tax February 20, 2023 Prime minister Rishi Sunak is facing down the prospect of a rebellion over next month’s budget as renewed pressure mounts over a planned increase in corporation tax increase. Seven top Tory backbenchers and business owners including Wetherspoons boss Tim Martin have urged Sunak and chancellor Jeremy Hunt to scrap the planned six per cent rise. [...]
Post Brexit overhaul planned by FCA to secure the UK’s status as an international hub for asset management February 20, 2023 The Financial Conduct Authority is looking to overhaul rules governing the asset management industry in a bid to keep the UK attractive to international money managers after Brexit, the regulator announced today.
Concerns raised with EU’s new clearing regulations as it aims to lure market to bloc February 20, 2023 Experts have warned that financial institutions operating in the clearing market are likely to face increasing costs as the EU brings in new regulations to grow its domestic clearing market. Under proposals announced in December, central counterparty clearing houses (CCPs) – an institution that helps manage the risks that might arise if one counterparty defaults [...]
To stay out of a recession, we need to get on with hashing out a deal on Northern Ireland February 20, 2023 Since the UK voted for Brexit, Northern Ireland has been a headache for politicians and businesses alike. Time to finally end the madness, writes Chris Hayward.
‘Great mistake’: Boris Johnson warns Rishi Sunak over post-Brexit Northern Ireland protocol February 19, 2023 Boris Johnson has warned Rishi Sunak it would be a “great mistake” to drop the Northern Ireland protocol amid speculation a deal between the UK and the EU is close. It comes as a new post-Brexit trading arrangement for Northern Ireland is expected to emerge within days after the Prime Minister met with Stormont leaders [...]
Explainer: A solution – finally – in sight for the Northern Ireland protocol February 17, 2023 After countless back and forth and failed negotiations attempts on the Northern Ireland protocol, Rishi Sunak is in Belfast today to present the Democratic Unionist Party (DUP) with a deal. If they accept it, we might have a solution by early next week. In the meantime, foreign secretary James Cleverly is in Brussels for meetings [...]
Brexit: Sunak holding urgent talks with Northern Ireland’s leaders amid speculation protocol deal is close February 17, 2023 Prime Minister Rishi Sunak is holding talks with Stormont leaders as speculation mounts that a deal on the Northern Ireland Protocol could be close. Sunak and Northern Ireland Secretary Chris Heaton-Harris are meeting the politicians near Belfast to discuss the contentious post-Brexit trading arrangements. Following his visit to Northern Ireland, Sunak is set to join [...]
Small businesses risk running out of cash after post Brexit banking rules rollout February 16, 2023 New banking regulations could increase the cost of small business lending by around a third and “fundamentally change” the market as debate around the implementation of international banking rules in the UK intensifies. Regulators in the UK are scrutinising the latest round of Basel regulations, the global regulatory overhaul prompted by the financial crisis. Concerns [...]
Third of London restaurants worried they can’t afford energy bills, new data reveals February 16, 2023 A third of London restaurants are concerned they may be unable to pay their bills if energy prices keep rising, according to a new study by Uswitch for Business. In the capital, restaurants are currently operating at an average capacity of 54 per cent – six per cent lower than the UK average – with [...]