Brexit: EU threatens legal action against UK after ‘seriously damaging trust’ September 10, 2020 Brussels has threatened the UK with legal action for Boris Johnson’s attempts to breach the Brexit withdrawal agreement, claiming that his actions have “seriously damaged trust between the EU and the UK”. The European Commission’s vice president Maroš Šefčovič warned Cabinet Office minister Michael Gove today that the withdrawal agreement was a “legal obligation”, and that [...]
FTSE 100 edges into the green as Wall Street opens higher on tech bounce September 10, 2020 The FTSE 100 edged into the green as US stocks opened higher as a bounce in tech stocks overshadowed the high number of jobless claims. London’s blue-chip index climbed 0.19 per cent after spending most of the session in the red in anticipation of the ECB’s rates decision. The FTSE 250 of smaller-cap firms rose [...]
Mairead McGuinness: Meet the EU’s future finance boss September 10, 2020 Mairead McGuinness was this week nominated as the new EU financial services commissioner following the recent resignation of her Irish counterpart and EU trade chief Phil Hogan. Mr Hogan departs having found himself in the centre of a “golfgate” scandal, breaking lockdown rules by attending a dinner in County Galway, Ireland, with more than 80 [...]
Brexit: UK and EU to hold emergency talks amid flaring tensions September 10, 2020 The UK and the EU are set for a heated emergency meeting today over Boris Johnson’s decision to breach the Brexit withdrawal agreement by adding a number of “clarifications”. An “extraordinary” meeting of the UK-EU Joint Committee is scheduled for this afternoon, along with a one-on-one meeting between Cabinet Office minister Michael Gove and the [...]
FTSE 100 and US stocks climb as investors regain poise September 9, 2020 The FTSE 100 and US stocks have risen after a bloodbath on global markets yesterday saw big tech names plunge. London’s blue-chip index rose 1.3 per cent to 6,009 points in afternoon trading. The FTSE 250 – the 100’s little brother – fell 0.2 per cent, however. Read more: Tesla shares set for worst day [...]
Brexit: EU threatened to block Great Britain exports to Northern Ireland September 9, 2020 EU negotiators reportedly threatened to block the transport of goods between Great Britain and Northern Ireland during Brexit trade negotiations. The threat from Brussels infuriated Downing Street, leading to its decision to breach the Brexit withdrawal agreement by adding “clarifications” to the deal in a bill to be put before parliament today. Northern Ireland secretary [...]
TheCityUK: Brexit provides an opportunity to evolve trade and migration policy September 9, 2020 As the UK readies for Brexit there is a unique opportunity to transform trade and migration policy, the leading City lobbying firm has said. In a joint report with EY, TheCityUK has set out proposals to evolve the UK’s decades-old trade and migration policy which could “deliver real benefits to the economy”. TheCityUK makes it [...]
Investors turn their back on UK equity funds due to Brexit jitters September 8, 2020 Resurgent Brexit fears combined with the economic impact of the pandemic has seen investors flee from UK equity funds in record numbers. UK equities suffered their worst three months for outflows between June and August, as investors flock to global equity funds in Europe and the US. Investors have been preoccupied with the coronavirus outbreak [...]
Businesses label Google and Facebook as among biggest threats to advertising September 8, 2020 More than a quarter of advertising industry leaders think tech giants such as Google, Facebook and Amazon are among the biggest long-term threats to the sector. The ongoing coronavirus pandemic poses the most harm to the industry, according to a survey by LiveRamp and YouGov, as over a third of leaders said they were concerned [...]
City of London slams government plans to override EU deal September 8, 2020 The City of London Corporation has sharply criticised the government’s plans to override some parts of the EU withdrawal agreement, warning it could “seriously damage” the UK’s relationship with its biggest trading partner. Speaking at a webinar, the Corporation’s head of policy Catherine McGuinness also said the government appeared to have forgotten about the financial [...]