What are free ports and what are the economic benefits? November 16, 2020 This morning the Treasury announced that the bidding process for the creation of up to 10 new “free ports” in the UK had opened. The first of these sites are expected to begin operating in 2021, in the hope of boosting international trade after Brexit. But what are “free ports” and why is the government [...]
Auditor independence rules prompt PwC to sell data software to private equity house November 16, 2020 Big four auditor PwC has sold its in-house data capture software to private equity house Souter Investments as auditor independent rules mean the firm cannot effectively grow the business. The software enables PwC to digitalise and search large volumes of complex legal derivative contracts for clients. It takes contracts from clients and converts them into [...]
Brexit sovereignty is on the horizon, if the government would only seize it November 16, 2020 With just 45 days to go until the Brexit transition period expires, negotiations between Brussels and London are heading into a final frenzy. At the same time, the political battle is heating up. Last week, the government’s proposed Internal Market Bill, designed to correct the most pernicious aspects of the Brexit withdrawal agreement signed last [...]
Sunak says Boris Johnson will press on with policy reset in self-isolation November 16, 2020 Rishi Sunak has insisted this morning that Boris Johnson will push ahead with his planned two weeks of policy announcements despite being in self-isolation. Number 10 announced yesterday that he Prime Minister was due to unveil a string of new policies in the coming days in an attempt to reset his government after the tumultuous [...]
Janssen begins stage three Covid vaccine trial in UK November 16, 2020 Janssen has today begun stage three trials of its coronavirus vaccine, the third such company to do so in the UK. 6,000 volunteers across the country will take part in the tests of the vaccine, which has been developed in partnership with US giant Johnson & Johnson. The trials come after Pfizer last week announced [...]
Brexit talks ‘in real trouble’ if decisive week does not produce breakthrough November 16, 2020 Trade talks between Britain and the EU will be in “real trouble” if there is not a breakthrough in the next week, the Irish foreign minister has said. Speaking to Ireland’s Newstalk radio station Simon Coveney said: “If there is not a major breakthrough over th next week to 10 days then I think we [...]
Self-isolating Boris Johnson says he’s ‘fit as a butcher’s dog’ November 16, 2020 Prime Minister Boris Johnson has insisted he is as “fit as a butcher’s dog” despite self-isolating after coming into contact with someone infected by coronavirus. Johnson said he would keep running the government via Zoom, while ministers said the PM was in good health. On Thursday, the Prime Minister spent around 35 minutes with Tory [...]
Asian stocks near record high after signing of huge RCEP trade deal November 16, 2020 Asian stock markets rose towards record highs after countries in the region signed the world’s biggest trade deal, which covers nearly a third of the globe’s population and economic output. The main Asian benchmark was on track to close at its highest ever level. China’s SSE Composite index rose one per cent while Japan’s Nikkei [...]
Boris Johnson to roll out string of new policies in bid to reset government November 16, 2020 Boris Johnson will roll out a series of policy announcements over the next two weeks in a bid to reset his government after the tumultuous exit of his top two advisers. Number 10 announced last night that Johnson – who is currently self-isolating after having had a meeting with an MP who tested positive – [...]
Treasury opens bidding process for first seven post-Brexit Freeports November 16, 2020 From today, the Treasury will start accepting bids from cities and towns across England for the first seven Freeports, which are to be created in 2021. Ultimately, the government aims to establish 10 Freeports across the UK, the Treasury confirmed this morning. Areas given Freeport status will be given a range of tax reliefs, including on purchasing [...]