Industry rages as UK prepares to scrap half of tariffs on steel imports June 11, 2021 The government is set to scrap half of its current steel imports safeguards, it was announced today, sparking cries of outrage from an already struggling industry. In 2019 the EU introduced the quotas to prevent the bloc from being flooded by excess steel products after Donald Trump imposed 25 per cent tariffs against imports to [...]
G7 2021: Boris Johnson warns against ‘repeating mistakes’ of the post-2008 recovery June 11, 2021 Boris Johnson has called on G7 leaders to not “repeat the mistakes” of the post-2008 financial crisis economic recovery, saying the post-pandemic recovery needs to be “uniform across all parts of societies”. Johnson’s opening remarks before the first joint session of the G7 summit in Cornwall also saw him emphasise the need for the world’s [...]
As it happens: G7 leaders arrive in Cornwall ahead of summit June 11, 2021 World leaders from G7 countries are arriving in Britain ahead of the crucial summit to be held from today. The meeting between the world’s seven largest so-called advanced economies will run until Sunday, covering a range of issues including Covid recovery, climate change and trade. Several G7 leaders have already taken to Twitter upon arrival [...]
Morning Digest: What’s shaping today’s business agenda June 11, 2021 Here’s City A.M.’s look at what the business world is talking about this morning. The bounceback begins:Britain’s economy grew by 2.3 per cent in April as the country took the first tentative steps back to normality. Services unsurprisingly saw the biggest boost and the top-line number would have been higher had it not been for [...]
UK economy grew by 2.3 per cent in April as high street and hospitality reopened June 11, 2021 Britain’s economy grew by 2.3 per cent in April as government restrictions affecting economic activity continued to ease. It was the fastest monthly growth of gross domestic product (GDP) since July last year and exceeded economists’ forecast of a 2.2 per cent jump. In comparison with April 2020, monthly GDP in April 2021 is estimated [...]
‘Nothing is negotiable’: France threatens to veto any changes to Brexit deal June 11, 2021 French President Emmanuel Macron warned Boris Johnson late last night that “nothing is negotiable” when it comes to making any changes to the UK-EU Brexit deal on Northern Ireland. As Macron prepared to leave for the G7 summit in Cornwall, the French leader told reporters at the Elysee palace: “I think this is not serious, [...]
Boris Johnson: Call UK-US partnership the ‘indestructible relationship’ June 11, 2021 Boris Johnson has called for the UK-US partnership to be called the “indestructible relationship” instead of the special relationship. Johnson said after his first in-person meeting with Joe Biden yesterday that you could also call it the “deep and meaningful relationship”, because it is “a relationship that has endured for a very long time, and [...]
G7 2021: Boris Johnson says Joe Biden is ‘breath of fresh air’ after first meeting June 10, 2021 Boris Johnson has called his first in-person meeting with US President Joe Biden a “breath of fresh air”, after an extended bilateral in the lead-up to the G7 summit. Johnson and Biden had their first meeting in Cornwall today ahead of the three-day summit, with the pair agreeing to a new Atlantic Charter and a [...]
£333m Brexit deal: UK agrees annual fishing quotas with EU June 10, 2021 The UK has today agreed its annual catch limits for the fishing industry with the EU, in a deal which the government said was worth £333m. As a result of leaving the bloc, Britain will have to renegotiate its fishing quotas independently every year. UK fisherman will be able to catch around 160,000 tonnes of [...]
London Calling: Why we back the City June 10, 2021 London remains one of the preeminent financial centres of the world. For some this statement is an outdated notion which forgets the turmoil of recent years. Brexit, relatively unstable governments, and the pandemic have all contributed to a misplaced sense of decline. However, for all the drama of the past few years, if you step [...]