£31bn boost for Global Britain as UK exports to Commonwealth markets hit highest level in 15 years uk trade boost Exactly one month away from the Commonwealth Games in Birmingham, new analysis shows today that goods exports to the Commonwealth reached £31.6bn in the 12 months to April of this year, the largest respective period in over 15 years. It is larger than the amount of goods exported to other key nations like Germany (£30.1bn), [...]
UK among G7 countries to ban Russian gold imports Sanctions Exported Russian gold will be shut out of the UK, Canada, US and Japan under a batch of fresh sanctions designed to ramp up pressure on Moscow’s war efforts, the government announced today.
Brexit has damaged UK’s competitiveness, reduced productivity and lowered Brits’ real wages, LSE says report in impact of Brexit A new bombshell study said this morning that Brexit has damaged Britain’s competitiveness, reducing productivity and lowering workers’ real wages in the years ahead. The report said Britain has experienced a decline of 8 per cent in trade openness – trade as a share of economic output – since 2019, losing market share across three [...]
Trade Secretary touches down in Saud-Arabia to kick off talks on £33bn trade deal with six Gulf states June 22, 2022 The UK economy could receive a boost of up to £1.6bn a year via a trade deal with six Gulf stations. Talks on such an agreement kick off today with a meeting in Saudi Arabia. Trade Secretary Anne-Marie Trevelyan will meet representatives of the Gulf Co-operation Council (GCC) in Riyadh to begin negotiations on a [...]
Commonwealth is ‘unique’ opportunity for Global Britain after Brexit, says Boris Johnson ahead of leaders meeting in Rwanda June 20, 2022 Prime Minister Boris Johnson has said that Britain’s membership of the Commonwealth provides a “unique opportunity” to expand its trade with a series of “vast and growing” markets now that it has left the EU. The Prime Minister, who will this week attend the Commonwealth heads of government meeting in Rwanda, said economic links with [...]
City broker Britannia Global Markets cancels LME membership following March nickel price fiasco June 9, 2022 Derivatives broker Britannia Global Markets has said it is giving up its membership to the London Metal Exchange (LME), after the London market halted nickel trading in March in response to surging prices. Britannia said it had decided to cancel its Category 2 membership to the LME, which allows it to trade on behalf of [...]
Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]
Traders increasingly short ‘awfully cheap’ Pound as inflation and cost-of-living crisis drive UK towards hard recession May 23, 2022 Traders are increasingly taking short positions against the Pound Sterling as the economic outlook for Britain deteriorates. Institutional investors, asset managers and other key players in the US, the world’s largest financial market, currently hold more than 128,000 short positions against the Pound, compared to just 32,000 long positions, according to the most recent figures [...]
Brexit boost: UK trademark disputes double following Britain’s exit from the European Union May 23, 2022 The number of UK trademark disputes has soared to record highs due to a surge of trademark applications following Britain’s exit from the European Union. Disputes in the UK more than doubled from 3,584 in 2020 to 8,026 in 2021, according to new research from intellectual property (IP) law firm Mathys & Squire. The surge [...]