Brexit: EU finserv groups call for extension to City clearing house access September 16, 2021 A trio of major lobby groups for Europe’s financial services sector have called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to the European Commission today, warning “there is a significant risk of market disruption for EU clearing members and their clients” if the [...]
Brexit ‘gloom-mongers’ have been proved wrong as UK is prospering, says Lord Frost September 16, 2021 The UK is “prospering vastly” following the split from Brussels, the Brexit minister said as he stressed the Government’s aim to create “a high wage, high productivity economy”, rather than one “reliant on cheap labour”. Brexit “gloom-mongers” have therefore been proved wrong following the UK’s departure from the European Union, Lord Frost told Parliament. The [...]
Brexit: EU finance lobby calls for extension to UK clearing house access : CityAM September 16, 2021 A trio of major lobby groups for Europe’s financial services sector have called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to the European Commission today, warning “there is a significant risk of market disruption for EU clearing members and their clients” if the [...]
Brexit: Lord David Frost outlines priorities for EU regulations bonfire September 16, 2021 The UK has launched an official review into EU regulation that is still in place in the UK, with Lord David Frost announcing that red tape on things like port services, vehicles and data rights is set to be slashed. Frost, the UK’s defacto Brexit minister, told the House of Lords that the UK had [...]
M&S to close French high street stores after Brexit red-tape September 16, 2021 Marks & Spencer will shut 11 of its French stores because of supply issues with fresh and chilled foods after Brexit. The supermarket said it would close all franchise stores operated with partner SFH in the country by the end of the year. Nine stores at travel hubs would remain open but supply chain problems [...]
Boris Johnson prepares to announce new ministers in day two of reshuffle : CityAM September 16, 2021 Boris Johnson will today announce a swathe of ministerial appointments in day two of his reshuffle, with Penny Mordaunt this morning being moved into a new role as trade minister. Johnson will fill dozens of ministerial roles that sit under the secretary of state in each department, after a dramatic day of changes in the [...]
FCA probes three traders for market abuse around time of Brexit vote September 16, 2021 The Financial Conduct Authority has issued formal warnings to three traders from an unnamed bank who carried out market abuse around the time of the 2016 Brexit vote. The FCA accused the individuals of ‘spoofing,’ a practice where traders place orders on financial assets they do not intend to complete in order to manipulate markets. [...]
Brexit: Lorry driver shortages triggered by lack of EU workers September 16, 2021 Shortages of lorry drivers that are driving the UK economy to a grinding halt are primarily the result of a lack of EU workers due to Covid and Brexit, according to official statistics released today. One in four businesses are struggling to fill roles as a result of a sharp reduction in the supply of [...]
Co-op sales fall 3.2 per cent amid food shortages September 16, 2021 The Co-op has warned that full year profit could be hampered by ongoing supply chain issues after sales fell by 3.2 per cent in H1 2021. Group revenue stood at £5.6bn for the first half of the year, up 4.2 per cent compared to pre-pandemic levels, but a cut below the heights seen last year [...]
Co-op sales fall 3.2 per cent amid food shortages – CityAM : CityAM September 16, 2021 The Co-op has warned that full year profit could be hampered by ongoing supply chain issues after sales fell by 3.2 per cent in H1 2021. Group revenue stood at £5.6bn for the first half of the year, up 4.2 per cent compared to pre-pandemic levels, but a cut below the heights seen last year [...]