US-China tensions, tariff hikes and Russia sanctions force firms to look at ‘onshore’ supply chains Global trade Logistics executives increasingly believe top companies should look to bring their supply chains closer to home to avoid being impacted by trade wars, sanctions and other global shocks, a new survey has found. Supply chain managers increasingly see ‘onshoring’ and ‘near-shoring’ as a means of hedging against disruption to global trade caused by the Covid-19 [...]
Post-Brexit Japan deal branded ‘a failure’ Japan deal The first major free trade agreement signed by Britain after Brexit has been branded a failure. Liz Truss signed a deal with Japan in October 2020 that was claimed could boost trade by billions and help the economy recover, reported in The Guardian. However figures from the Department for International Trade showed that trade to [...]
UK frees up £4bn in export finance to boost post-Brexit trade with Morocco trading places Britain has made £4bn available in export finance to boost post-Brexit trade with Morocco. The funding will be available for Moroccan buyers as long as 20 per cent of content is from UK firms, it has been announced. This comes as the UK looks for trading opportunities around the world after leaving the European Union, [...]
Ever Given’s blocking of Suez Canal shows threat posed by global warming, Marsh says November 10, 2022 The blocking of the Suez Canal by the cargo ship Ever Given shows the threat climate change poses to the global economy, according to a new report from the world’s largest insurance broker Marsh. Rising sea levels and an uptick in extreme weather events could wreak havoc on global supply chains by disrupting key shipping [...]
Exclusive: Brexit bites into London’s FX trading as Singapore and New York seize City’s derivatives share November 5, 2022 London’s status as the global hub for FX and derivatives trading is under threat for the first time since Brexit. According to new findings shared exclusively with City A.M. today, a study by the Bank of International Settlements (BIS) found that while the UK remains the leading hub for currencies and interest rate derivatives trading, [...]
Badenoch hits back at claims India-UK trade deal could hike prices for NHS after agreement is leaked November 5, 2022 Trade secretary Kemi Badenoch has hit back at claims the NHS could be set to pay higher costs for drugs as a result of a UK-India trade deal. It has emerged that a leaked chapter of the free trade agreement (FTA) between UK and India contains provisions that suggests, amongst other things, pharmaceutical companies would be allowed [...]
UK businesses optimistic about exports despite ongoing Brexit trouble October 31, 2022 UK businesses are optimistic about their future exports despite grappling with trade disruption caused by Brexit, a new report out today reveals. Some 42 per cent of firms expect their exports to grow over the next year, according to a survey by business lobby group the Institute of Directors (IoD). A series of free trade [...]
UK exports to India hit record levels despite crucial post-Brexit trade deal missing today’s Diwali deadline October 24, 2022 The UK is exporting and importing record volumes of goods with India despite complications around a trade deal which look set to miss todays planned Diwali date for completion. Exports in July (£939m) and August (£913m) surpassed £900m for the first time ever recorded which puts the total volume of exports to India so far [...]
No Brexit karma in Delhi: Whisky and visas increasingly complicate £27bn trade deal between UK and India October 18, 2022 The 24 October deadline set by Boris Johnson for finalising the UK–India trade deal will be missed after both parties have hit a roadblock in discussions. Although a detailed reason hasn’t been given by both sides, sticking points include a steep import duty on British whisky for sale in India, and demands for more visas for [...]
From new duties to volatile pricing: Brexit is making life in Europe impossible for UK firms October 17, 2022 The volatile pricing and availability of materials, accompanied by widespread disruption to global supply chains are just a few of the challenges faced by many UK businesses post-Brexit. Those trading within the European Union have suffered a massive upheaval due to the loss of access to the EU’s present free trade agreements. Following the end [...]