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UK PM statement on leaving the EU
The Prime Minister gave a statement to Parliament after her Florence speech on the Brexit negotiations. View Article |
Department for Exiting the EU: Government sets out vision for post EU trade and customs policy
Trade and customs white papers pave the way for legislation that will ensure the UK is ready for the first day after EU exit, according to Davis' team latest documents. View Article |
RTÉ: Open customs border impossible after Brexit, says Revenue report
An internal report by the Irish Revenue Commissioners has spelled out the enormous physical and economic impact Brexit will impose upon both Ireland’s customs infrastructure, and on the tens of thousands of companies who trade with the UK. View Article |
Address by President Donald Tusk to the European Committee of the Regions
The Council President addressed UK PM Theresa May to warn her that "the EU is not working on such a scenario" as a "no deal" and that they hope that "sufficient progress" is achieved by December. Tusk also addressed Catalonia President and asked him not to declare unilateral independence from Spain. View Article |
Bloomberg: Deutsche Boerse plans revenue-share deal to lure Brexit clearing
Deutsche Boerse’s clearing house plans to start a revenue-sharing plan with its biggest members in a bid to lure business from London after Brexit. View Article |
EurActiv: EU lawmakers tentatively back Brexit clearing law that could clobber Britain
European Union lawmakers gave broad support to a law that could end the City of London’s global dominance in clearing euro-denominated financial contracts after Brexit. View Article |
ESMA highlights preparations for MiFID II and Brexit as key issues at ECON hearing
Steven Maijoor, Chair of ESMA, delivered a statement to the Economic & Monetary Affairs Committee (ECON) at the European Parliament as part of the annual hearing of the chairs of the ESAs. View Article |
BBC: 'No deal' planning is well under way, says minister
Contingency plans in case the UK has to leave the EU with no deal in place are "well under way", a minister has said. View Article |
ISDA: Brexit and contractual certainty
ISDA has conducted analysis on the ability of banks and investment firms to perform existing contractual obligations under transactions between EU member states and UK counterparties that were entered into before Brexit. View Article |
Institute for Government: Dispute resolution after Brexit
The IfG latest report cautioned against giving in to current EU demands to give the European Court of Justice (ECJ) the final say over the withdrawal agreement, as it will not be neutral in disputes between the UK and the EU. View Article |
Federation of German Industry: Prepare for very hard Brexit
BDI's Joachim Lang warned: “German firms must prepare for the worst-case scenario of a very hard exit, anything else would be naïve.” The BDI set up a task force to identify potential and acute risks associated with the UK’s exit from the EU and to develop constructive solution proposals. View Article |
Financial Times: Europe will be big Brexit winner, says German economics minister
Europe will be the big winner of Brexit, Germany’s economics minister said, as UK-headquartered companies move to the continent and Emmanuel Macron’s reform push leads to a new “spirit of revival” that will benefit the whole of the EU. View Article |
Financial Times: IMF confirms cut to UK growth forecast
The International Monetary Fund singled Britain out as a “notable exception” to an improving global economic outlook, as it confirmed a cut to its forecast for UK growth and said the long-term negative effects of Brexit were beginning to show. View Article |
Commercial Risk Europe: Bank of England airs Brexit risks to insurance contracts
Disruption of multi-year insurance contracts and new barriers to the flow of personal information are two risks identified by the Bank of England that could result from the UK leaving the EU without a deal. View Article |
Commercial Risk Europe: PRA expects large number of European applications following Brexit
The Prudential Regulation Authority (PRA) is preparing for European insurers applying for authorisation in the UK following Brexit, but has said it also believes insurers will be harder to supervise as they restructure in response to Brexit. View Article |
Financial Times: Europe’s national regulators clash over delegation
National regulators in Europe have clashed over whether asset managers should face more stringent scrutiny after Brexit, as concerns mount that the UK’s vote to leave the EU will trigger upheaval in the fund industry. View Article |
Bloomberg: RBS head says banks need Brexit transition details by early 2018
Royal Bank of Scotland Chairman Howard Davies said details of a post-Brexit transitional deal with the European Union need to be outlined in the next five months to stop more financial-services jobs from leaving London. View Article |
The Telegraph: International banks could decide to move City jobs early next year, warns Treasury official
International banks with operations in the City will decide early next year whether or not to move some jobs from the UK, a senior Treasury official has warned. View Article |
The Guardian: Brexit uncertainty cools foreign interest in UK buyouts
A study of UK buyouts and merger deals involving foreign firms showed that the value of purchases of British-owned businesses fell in the first nine months of the year to its lowest level since 2010. View Article |
VoxEU: New survey evidence on the impact of Brexit on UK firms
While most firms expect a negative impact of Brexit on sales, investment and costs, only larger firms and those that are more exposed to international markets are likely to think that they might move part of their business abroad, according to evidence gathered in the Decision Maker Panel survey. View Article |
BRC: Brexit uncertainty fuels workforce shortages with consumers paying the price
Without swift action to provide certainty for people from EU working in the UK and a new immigration system fit for the future, consumers could pay the price, according to a new report The People Roadmap published today by the British Retail Consortium. View Article |
Bloomberg: Brexit limbo for EU workers has Denmark Inc. saying ‘come here!’
The Confederation of Danish Industry, which represents about 10,000 corporations, says now is the time to try to attract that demographic to the Scandinavian country and help deal with a severe labor shortage. View Article |
Bloomberg: Brexit staff shortages drive starting salaries higher, REC says
A Brexit-driven decline in the availability of staff and surging demand for workers are pushing up starting salaries, according to Markit and the Recruitment and Employment Confederation. View Article |
Le Figaro: We (also) want our money back
Le Figaro mentions an interview of French Economy Minister, Bruno Le Maire, with France's CNews channel this week, where the minister demanded that the UK finally agree on paying the Brexit bill. View Article |
OMFIF: China-UK relations after Brexit
After Brexit, the UK's 'golden era' relationship with China may lose its earlier shine. View Article |