UK reaches agreement with £8.4 trillion Asia-Pacific free trade club February 18, 2022 The UK has reached an agreement with Asian free trade partnership Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Nearly a part of the £8.4 trillion club, the UK will now enter the market access phase of negotiations with the free trade area. It comes ahead of international trade secretary Anne-Marie Trevelyan’s trip to Indonesia, Japan and [...]
UK looks to ink post-Brexit trade deals with individual US states February 18, 2022 The UK will reportedly ink a trade deal with individual US states, in a bid to get the ball rolling on a more ambitious, country-wide, agreement. It follows president Joe Biden saying that the post-Brexit pact was not a priority for the US, which has reportedly prompted the government to go straight to states such [...]
Turn around for Natwest as bank returns to profitability February 18, 2022 Natwest has returned to profitability after suffering heavy losses in 2020, with results boosted by strong savings and lending growth.
City Moves: Who’s switching jobs in the Square Mile this week? February 18, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Quadrant Real estate asset management and development company Quadrant has appointed a new associate partner from CBRE. Onder Atasayar joins from CBRE where he was responsible for developing the company’s portfolio valuation models and overseeing quarterly valuation of [...]
Despite £20bn drop in exports, Jacob Rees-Mogg sees no evidence Brexit has hit trade: ‘Evidence is few and far between’ February 17, 2022 Jacob Rees-Mogg, the brand new minister for Brexit opportunities, has said that “Brexit was already a success” and businesses have not been hurt by the UK’s departure from the EU. On the contrary, because when asked whether Brexit had reduced UK trade, Rees-Mogg replied: “I think Brexit has been extremely beneficial for the country.” “I [...]
Bitcoin flat again as investors wary of next Russia move February 17, 2022 Bitcoin is down slightly this morning, falling 0.5 per cent to $43,761 while Ethereum has also dropped back somewhat, dipping 1.45 per cent.
Conflict of interest claims: While looking for Brexit opportunities, Jacob Rees-Mogg holds stake in $8bn emerging market investment fund February 17, 2022 Experts have pointed out that Jacob Rees-Mogg holds a substantial stake in a multi-billion investment fund specialised in emerging markets, while at the same time he is now tasked with finding ‘Brexit opportunities’ in those same countries. Rees-Mogg is a major shareholder in Somerset Capital, an investment firm he co-founded and focuses on investment projects [...]
Johnson’s ‘restrictive’ immigration rules will not drive high wage economy, says think tank February 17, 2022 Prime minister Boris Johnson’s plan to impose “restrictive” immigration rules to drive a ‘high wage’ economy post-Brexit will fail, a leading think tank has warned today. The Resolution Foundation, in collaboration with the London School of Economics, expect the government’s policy to restrict work-related immigration to those with higher-wage jobs will force sectors such as [...]
Three in four UK exporters say Brexit trade deal is stopping growth February 17, 2022 Just under three in four British exporters believe the UK-EU post-Brexit trade deal is not helping them increase sales, according to a new survey from the British Chambers of Commerce (BCC). The survey found 71 per cent of businesses disagreed with the statement that Boris Johnson’s trade deal was “enabling their business to grow or [...]
Post-Brexit immigration ‘unlikely to move the dial on big-picture economic outcomes’ or wages February 17, 2022 A shortage of migrant workers alone is “unlikely” to increase wages in the longer term and the UK’s post-Brexit immigration system “will do little to change the UK’s economic trajectory”, according to the Resolution Foundation. The think tank said its research shows immigration has changed the size and shape of the UK’s workforce in recent decades, [...]