Brexit deal close as negotiators reach outline December 23, 2020 The outline to a UK-EU post-Brexit trade deal has been agreed, according to multiple reports. A statement is expected either late this evening or tomorrow morning. The framework of the deal is believed to have settled outstanding issues including fishing. The deal is expected to predominantly cover goods trade, with financial services regulators having already [...]
Go Betty Go: Pound soars as speculation mounts EU deal is imminent December 23, 2020 Reports that a post-Brexit trade deal could emerge sooner rather than later has seen Sterling soar against the dollar. The pound has hit $1.35 after an EU diplomat told Reuters that a deal would be coming “today or tomorrow.” Other sources have suggested a deal is imminent. The Sun is reporting that the last compromise [...]
Reports: EU putting in place ‘procedures’ for post-Brexit trade deal December 23, 2020 EU member states are beginning to put in place procedures for post-Brexit trade deal, reports have emerged in the last few minutes. Three diplomatic sources told Reuters that preparations have been stepped up. Reuters reports that national diplomats have been told to prepare for a meeting as early as Thursday should a deal be struck [...]
The Frankfurt Airlift: Lufthansa exploring additional fresh food flights to UK December 23, 2020 Lufthansa have offered special cargo flights for fresh fruit and vegetables into the UK as firms try to beat the chaos at Dover. Up to 3,000 lorries remain stuck at the Kent port despite an agreement being struck to allow hauliers with negative Covid-19 tests to cross the channel. Supply chains across the continent have [...]
Brexit, people and the pandemic: Critical actions for business December 23, 2020 The latest travel bans from the UK into Europe, induced by the COVID-19 pandemic, present real challenges for businesses in the final days leading up to the end of the Brexit transition period. How do these travel restrictions relate to Brexit? In two ways: Firstly, these restrictions particularly impact those in financial services who have [...]
Up the chain: Boris and Ursula try to seal a deal before Christmas December 23, 2020 PM Boris Johnson and European Commission President Ursula von der Leyen are said to be in “close contact” in a last-ditch bid to secure a post-Brexit trade deal. Talks on the future relationship between the UK and the EU have now dragged on for four and a half years. Read more: One final push but [...]
Individuals rush to sell assets as capital gains tax bill rockets to £10.1bn December 23, 2020 The UK’s capital gains tax (CGT) bill has hit £10.1bn, up more than fourfold from £2.5bn a decade earlier, prompting people to sell their assets. Despite the increase of nearly £7.5bn in a decade, more CGT could be demanded from the taxpayer. The Office for Tax Simplification recently recommended the Chancellor increase CGT rates in [...]
FTSE slips this morning amidst a host of global worries December 23, 2020 The FTSE 100 has slipped a little this morning, with the index down 0.15 per cent 45 minutes into trading. A brief recovery from a lower open has dissipated. A lack of progress on a Brexit deal, ongoing fears about the new mutant strain of Covid-19 and President Trump gave reason to trouble traders on [...]
CBD revolution: A Covid-proof industry seek the green light December 23, 2020 Even the most prosperous companies have had their work cut out for them this year, as the pandemic hit the global economy, spurring volatility on an unimaginable scale. Yet, in the often-paradoxical world of business, some industries have emerged from the crisis in a favourable position. And it looks like cannabis is among them. 2020 [...]
Another month of decline for UK car production as industry calls for Brexit deal December 23, 2020 UK car production fell again last month as the industry urged Brexit negotiators to “seal the deal”. New figures from industry body the Society of Motor Manufacturers and Traders (SMMT), factories produced just 106,243 vehicles, last month. It represents a 1.4 per cent drop year-on-year – a better performance than other months this year – [...]