Lord Hill: I’m no cheerleader for Spacs but UK should leave door open March 25, 2021 Lord Hill, who recently published a review into London’s listing rules, has said he recognises concerns over Spacs but fears the UK may regret paying attention to the vehicles in a few years time. Special acquisition companies – Spacs – have risen to prominence during the pandemic in the US and in parts of Europe. [...]
Closer UK-Japan ties will unlock access to Asian markets March 25, 2021 Last week’s Integrated Review made it clear that Asia will be increasingly important to theUK as the world’s economic and strategic balance shifts towards the region. Commentatorshave emphasised the need for Britain to bolster security ties with regional partners likeJapan – a country which shares many economic dynamics with the UK, and a similar globaloutlook. [...]
Deloitte CEO: Significant audit reforms crucial for investor confidence in UK March 25, 2021 UK businesses are dealing with the economic fallout of the pandemic, the logistical issues of Brexit and huge societal challenges like climate change. It’s not surprising that some feel this is not the right time for a major overhaul of how the country’s businesses are governed and audited. Yet these complex issues are precisely why [...]
UK sticks by open derivatives trading stance despite EU ban March 24, 2021 The UK’s financial regulator has today elected to keep its current stance on cross-border derivatives trading with the EU. Under the current Financial Conduct Authority (FCA) rules introduced after Brexit, UK banks have been able to trade derivatives on EU platforms to avoid disruption to business in the bloc. However, there is not currently a [...]
Competition watchdog set to block £140m Seedrs and Crowdcube merger March 24, 2021 The competition watchdog has provisionally blocked the planned £140m merger between Seedrs and Crowdcube over concerns it would lead to less choice and higher fees. The two crowdfunding platforms announced plans to merge in October, saying the deal would create one of the world’s largest private equity marketplaces. But following an in-depth investigation, the Competition [...]
UK signs post-Brexit investment partnership deal with UAE March 24, 2021 The UK has signed an investment deal with the United Arab Emirates (UAE), which will see the gulf nation spend an initial £800m in British life sciences. The UK government will also contribute £200m to life sciences in the deal, bringing the total value of the initial investment to £1bn. The partnership will include similar [...]
House of Lords committee calls for UK-EU financial services agreement March 24, 2021 A House of Lords committee has called for the UK to negotiate better EU access for the financial services industry post-Brexit. The Lords’ EU Services Sub-Committee said today that there will be “real problems” for financial services professionals “whose qualifications are not recognised in the EU under current arrangements”. The City lost its pre-Brexit access [...]
Luxury watchmaker Bremont pumps £25m in new London hub March 23, 2021 Luxury watch manufacturer Bremont is expected to boost the market in the UK with a watchmaking hub in London. The £25m investment is expected to bolster the company’s headcount by 20 per cent, reaching 180 employees within two to three years, in a bid to focus its supply chain in the UK. “For over 60 [...]
Manufacturing output on track for spring surge March 23, 2021 Manufacturing output hit its highest level in nearly two years in the three months to March in the clearest sign that a revival could be on the cards for the sector. Although still flat, the CBI’s monthly order book balance rose to -5 in March, the highest reading since April 2019 and up from -24 [...]
UK to announce ‘enhanced’ trade deal with Canada March 22, 2021 The UK is set to announce an enhanced trade deal with Canada, the trade secretary has said, after the two nations ratified a post-Brexit agreement last week. Speaking at a Conservative Friends of Australia event on Zoom this evening, Liz Truss said the UK was working “very closely” with “like-minded partners” to tackle issues such [...]