UK government expands post-Brexit loan programme for exporters to overseas firms November 15, 2021 Overseas firms looking to set up shop and export from the UK will now be eligible to take out government-backed loans potentially worth billions of pounds, after an expansion of a post-Brexit lending programme. International trade secretary Anne-Marie Trevelyan said the new policy, done through the UK government’s credit agency UK Export Finance, will help [...]
Half of UK businesses have decreased or stopped trade with EU post-Brexit November 15, 2021 Almost half of British businesses that traded with the EU pre-Brexit are doing less trade with the bloc, or have stopped entirely, since the UK left the single market and customs union in January, according to a new survey. An Institute of Directors survey, commissioned by Channel 4, out today also showed 16 per cent of [...]
UK business sentiment hits 12-month low amid supply chain and inflation woes November 15, 2021 British business sentiment dropped to its lowest level in a year in October, dragged down by fears of looming inflation and supply chain pressures that could undermine a sustained recovery from Covid disruption. Inflation expectations among UK business leaders surge to a record high last month, with 66 per cent expecting non-staff costs to increase [...]
Cop26: Boris Johnson seeks to downplay failure to get deal to end coal power November 14, 2021 Boris Johnson has sought to play down the failure at Cop26 to get an agreement to end the use of coal power, saying a push from India and China to water down the final deal won’t “make much difference”. Johnson today claimed the deal agreed by 197 nations at the United Nations summit in Glasgow [...]
Berry Bros lifted as Brits develop taste for fine wines during lockdown November 14, 2021 Berry Bros & Rudd, the UK’s oldest wine and spirits merchant, has benefitted from Brits developing a taste for fine wines during lockdown. Established in the 17th century Berry Bros’ flagship store has been located on St James’s Street since 1689 and has supplied the royal family since the reign of King George III. Its not [...]
Supply chain crisis could last until 2023, UK ports warn November 14, 2021 The supply chain crisis could last up until 2023, Associated British Ports (ABP) – the UK’s biggest port operator – has warned. ABP’s chief executive Henrik Pedersen, told the Sunday Times: “When you have congested container ports around the world, it takes a very long time to turn it around. We have a shortage of [...]
Brexit: ‘Complete instability’ looms in Northern Ireland as ‘tough guy’ approach is not helping, warns Irish minister November 12, 2021 A “tough guy” approach when it comes to Northern Ireland will lead to “disaster”, Irish minister for European affairs Thomas Byrne warned this morning. Asked on BBC Radio 4’s Today programme if there is a serious danger of a full-scale trade war, Byrne said: “There is a serious danger of complete instability in Northern Ireland [...]
Today in London: Latest attempt to find breakthrough in Brexit talks on Northern Ireland Protocol November 12, 2021 The latest round of talks with the EU to rehash the UK’s post-Brexit trade arrangements for Northern Ireland are due to begin in London. The Government’s chief negotiator to the EU, Lord Frost, is to meet European Commission vice-president Maros Sefcovic on Friday, in the latest round of talks about the Northern Ireland Protocol. In [...]
‘Acute’ staff shortages and rising energy bills force most businesses to hike their prices November 12, 2021 Amid ‘acute’ staff shortages and the rising cost of fuel and energy, most businesses are increasing their prices. A survey of 1,000 firms showed that four out of five increased the price of their goods or services in the past year. The British Chambers of Commerce (BCC) said its study indicated that nine out of [...]
UK to try and close trade deals with individual US states after White House talks stall November 11, 2021 The UK will now prioritise closing trade deals with individual US states like California and New York, after negotiations with the White House stalled earlier this year. Trade minister Penny Mordaunt said today that while “we want a comprehensive Free Trade Agreement between the UK and the US” that “much of my time will be [...]