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05 July 2018

Brexit Weekly


European Council (Art. 50), EU leaders dismiss latest May's proposal, The City fears, banks leaving London after Brexit, Pessimism surges in the UK’s financial sector and other industries, EIOPA call to remind about the impact of Brexit and more.

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  Articles from 28 June 2018 - 05 July 2018

  Brexit & UK
 
 
Financial Times: Barnier: ‘huge, serious divergences’ exist between UK and EU Brexit plans
The European Union’s chief Brexit negotiator said that progress had been made on negotiations with the UK, but that there were major issues still to be addressed.   View Article
European Council (Art. 50) conclusions
The European Council (Art. 50) adopted conclusions on the state of play of Brexit negotiations.  View Article
The Guardian: EU leaders say single-market access for goods a nonstarter
Theresa May has been told by European leaders that an attempt to protect the UK’s industrial base by gaining single market access for goods alone after Brexit is a nonstarter, as the Irish prime minister warned: “We are not going to let them destroy the European Union.”  View Article
Financial Times: London fears it will be EU’s next capital markets target
A diplomatic stand-off between Switzerland and the EU that may leave Swiss capital markets as potential collateral damage has fanned concerns in London that a similar fate awaits the UK.  View Article
Bloomberg: Banks leaving it late to secure post-Brexit EU future
Just 20 banks have applied for a license to operate in the European Union in time to receive approval before Britain leaves the bloc.  View Article
Financial Times: Professions outline case for their survival after Brexit
A coalition of leading professional and business services organisations has handed the UK prime minister a list of requirements they say are crucial to preserving the £188bn sector in any Brexit deal.  View Article
Bloomberg: Businesses are getting more pessimistic over Brexit
The most downbeat businesses expect a reduction in sales of more than 10 percent due to the U.K.’s withdrawal from the European Union, while the most optimistic expect a boost of about 1 percent or more, according to a Bank of England survey.  View Article
Brexit: time running out for answers to firms’ real-world questions, says British Chambers of Commerce
The BCC has published the top real-world questions being asked on Brexit by businesses across the UK – and says the government has managed to make limited progress on just 2 of the 24 issues where clarity is urgently needed so that firms can plan their trade following the UK’s departure from the EU.  View Article
Bloomberg: No-deal Brexit ‘disastrous’ for business, UK minister says
Failure to reach a Brexit deal would wreak havoc on British business, especially manufacturers that rely on just-in-time supply chains, in the view of Business Minister Richard Harrington.  View Article
New Europe: Pessimism surges in the UK’s financial sector
Two reports published by the Confederation of British Industry (CBI) and the Deloitte accountancy firm suggest the financial sector is not optimistic about the prospects of the financial sector after Brexit.  View Article
The Guardian: Barclays to move UK jobs to Frankfurt ahead of Brexit
Barclays is to shift between 40 and 50 investment banking jobs from London to Frankfurt as it prepares for Britain’s exit from the EU.  View Article
Commercial Risk Europe: Insurers look to provide seamless global programme coverage after Brexit
The recent statement from the EU’s financial services chief that there are no guarantees that insurance policies will not be affected by Brexit would not have been welcomed by risk managers with global insurance programmes.   View Article
EIOPA calls upon national supervisory authorities to remind insurers of their duty to inform customers about the impact of Brexit
The EIOPA published the Opinion addressed to national supervisory authorities about the duty of insurance undertakings and insurance intermediaries to inform customers about the possible impact of the withdrawal of the United Kingdom from the European Union.  View Article
YouGov: 69% of Brits think Brexit is going badly: who do they think is to blame?
With 69% of Britons saying Brexit is going badly so far, Remainers and Leavers lay the blame very differently.  View Article
 

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