France threatens to block ports and slow-down customs checks as fishing row reaches boiling point October 26, 2021 British officials fear France will escalate the post-Brexit dispute over fishing rights, according to the Telegraph. Jean Castex, France’s prime minister, will unveil a series of retaliatory measures if French fishermen are not provided greater access to the UK’s coastal waters. This could include cutting energy supplies to the UK and Jersey and blocking Britain’s [...]
If Sunak’s budget delivers for financial services, they can deliver for the globe October 26, 2021 At Conservative party conference, the Chancellor promised to deliver an economy based on “good work, better skills and higher wages” and embrace “the agility, flexibility and freedom provided by Brexit”. This will create a dynamic, high-tech economy. Financial services are critical to delivering this ambition. The engine of the UK economy has not only withstood [...]
Brexit: Frost leaves door open for EU courts to have minor role in NI Protocol October 25, 2021 Lord David Frost has today left the door open for the EU’s courts to still have a minor role in the post-Brexit Northern Ireland Protocol as negotiations over its implementation heat up again. The UK’s Brexit minister, who wants the European Court of Justice (ECJ) to lose its role as the main arbiter of the [...]
This week’s Budget: An overview of the £30bn of investments announced so far October 25, 2021 More than £30bn of investment has already been revealed by the Treasury ahead of Wednesday’s Budget. Chancellor Rishi Sunak said on Sunday that “(over) the last year, I’ve been focused on delivering our plan for jobs, protecting people’s livelihoods, their incomes, their jobs”. But he said he would now be “looking to the future and [...]
UK firms now having to pay £50,000+ ‘security bond’ to litigate in EU post-Brexit October 25, 2021 Following the end of the Brexit transition period UK businesses are now having to pay ‘security bonds’ of £50,000 or more to courts in the European Union in order to litigate there, legal experts told City A.M. today. These bonds could make it more difficult and costly for UK businesses to defend their intellectual property [...]
Hiring bonanza: Nearly nine in ten London employers plan to recruit new staff in next 12 months October 25, 2021 Just over 85 per cent of all London employers are planning to recruit staff in the capital over the next 12 months, the highest recruitment intentions in eight years, according to new figures shared with City A.M. today. Over two-thirds (67 per cent) of employers who are hiring are looking for permanent staff, whilst a [...]
Budget: International competition to become new priority for City watchdogs October 25, 2021 The Treasury is reportedly going to reveal this week that City regulators must consider competition as much as they do safety and soundness when making key decisions. The move, set to be unveiled in the budget, is expected to be accompanied by a cut in surcharge tax on banks’ profits. The Treasury has been in [...]
First deal for new UK Infrastructure Bank as it pumps £107m into green energy hub October 25, 2021 The brand new UK Infrastructure Bank said this morning it plans to invest £107m in the South Bank Quay development at Teesworks, a green energy hub in Teesside, North-East England, creating around 800 jobs. The deal marks the first investment for the bank, which launched in June of this year to finance innovative infrastructure projects, [...]
Brexit: MPs call out EU for delaying UK inclusion in Horizon R&D programme October 25, 2021 A parliamentary committee has called out Brussels for blocking the UK’s entry to the Horizon Europe research and development programme, claiming that it is damaging British businesses. A report from Westminster’s European Scrutiny Committee today said delays were leading to “increasing opportunity costs” for British businesses and research institutions as they are frozen out of [...]
Bankers on track for record bonuses this Christmas October 24, 2021 City bankers could take home a bumper payout in time for Christmas following a year of record dealmaking and capital raising activity. With many city banks gearing up for bonus discussions in the coming weeks industry experts have predicted that bonuses could reach their highest level in over a decade, the Telegraph first reported. It [...]