Nissan warns UK business hard to sustain without Brexit deal November 18, 2020 A top executive at Japanese car giant Nissan has warned that it would be hard to sustain its operations in the UK should the country leave the EU without a trade deal. Speaking to Reuters, chief operating officer Ashwani Gupta said: “If [the exit] happens without any sustainable business case obviously it is not a [...]
Brexit to bring blow to UK Covid-19 recovery – KPMG November 18, 2020 Brexit could hamper the UK’s economic recovery from the coronavirus, with the UK economy not expected to reach pre-Covid levels until late 2022, according to KPMG forecasts. The manufacturing sectors hardest hit by Brexit, including textiles, chemicals and electrical manufacturing, could see output at the end of 2021 between 6% and 12% lower than in [...]
Markets today: Weaker start for Europe as investors focus on inflation November 18, 2020 After the vaccine inspired rally on Monday, a slightly more tempered market followed on Tuesday as the continued rise in virus cases started to experience a bit more cut through in the face of some disappointing US economic data. It is slowly becoming apparent that the economic damage being caused by subdued consumer activity is [...]
Liz Truss: Joe Biden and Democrats are committed to UK-US trade deal November 17, 2020 President-elect Joe Biden and the Democrats are committed to negotiating a UK-US trade deal, according to international trade secretary Liz Truss. Truss said today that talks would continue with the incoming administration, despite widespread speculation that a cross-Atlantic deal may be scrapped by Biden. A source from the former Vice President’s transition team told The [...]
City of London businesses have received average of £8 each from new Covid grants November 17, 2020 Businesses in the City of London have received an average of just £8.09 from the government’s latest £1.3bn Covid grant programme. Figures released by the Department for Business, Energy and Industrial Strategy (Beis) showed that businesses in the local authority received the smallest proportion of the grant money released in November, with its 24,020 businesses [...]
Labour’s Anneliese Dodds extends public olive branch to City of London November 17, 2020 Shadow chancellor Anneliese Dodds has today made overtures to the City of London, telling a virtual conference that Labour wants to work with the financial services sector and prevent it from “turning inwards…[and] eschewing responsibility”. Dodds, speaking at a virtual conference for the TheCityUK advocacy group, said Labour understood the value the sector has to [...]
Anti-vaxxers may lose travel insurance over Covid vaccine refusal November 17, 2020 Anti-vaxxers may risk invalidating their travel insurance if they are medically able but decline to have the coronavirus vaccine, an insurance expert has warned. Medical underwriting specialist and travel insurance expert Tricia Tietema told City A.M she would expect that those who are medically able to have the coronavirus vaccine, should one become available, but [...]
FTSE 100 and US stocks slip as investors focus on virus November 17, 2020 The FTSE 100 fell along with global stocks after jumping yesterday, as investors eased off on their rush into risk assets with months of uncertainty still ahead for the global economy. Drug firm Moderna’s announcement that its vaccine had shown to be almost 95 per cent effective in late-stage trials cheered markets yesterday, sending the [...]
Brexit: UK not expecting trade deal to be closed this week November 17, 2020 Boris Johnson is not expecting to close an EU trade deal this week, with the UK's Brexit negotiators aiming for a final breakthrough at some point next week.
UK and US sign aviation agreement to protect vital travel links November 17, 2020 The government has today signed a deal with the US ensuring that aviation links can continue unchanged after 1 January. The new Air Services Agreement will replace the existing EU-US deal, which will cease to apply to the UK deal when the Brexit transition period ends. The transatlantic air travel market is one of the [...]