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04 July 2019

Brexit Weekly

Moody’s warns UK ‘likely’ to enter recession in no-deal Brexit, LSE defies Brexit gloom to retain UK’s lead in the multi-trillion-dollar swaps business, Swiss Bourse fate hangs in balance on EU Brexit hardball, no-deal Brexit would cost UK £90bn and more.

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  Articles from 27 June 2019 - 04 July 2019

  Brexit & UK
Financial Times: UK ‘likely’ to enter recession in no-deal Brexit, Moody’s warns
Moody’s has hardened its warnings over the economic impact of a no-deal Brexit, and now believes the UK “would likely enter a recession” if it crashes out of the EU.  View Article
Bloomberg: Quadrillion-dollar London market bats away Brexit blues
London Stock Exchange Group Plc has defied Brexit gloom to retain the UK’s lead in the multi-trillion-dollar swaps business, realized a long-sought ambition to link up with China and nabbed some of the most coveted assets in its industry.  View Article
Bloomberg: Another victim of Brexit: The world's fastest-shrinking stock market
Three years after the referendum to leave the European Union, the nation’s equity market is shrinking faster than any other major venue globally, according to Citigroup.   View Article
Bloomberg: Swiss Bourse fate hangs in balance on EU Brexit hardball
In an unprecedented move, Switzerland said it will block trading of its shares in the EU starting July 1 and put in place measures to offset a loss of liquidity, after the European Commission said it wouldn’t extend recognition of the country’s stock exchange beyond the end of this month.   View Article
City AM: No-deal Brexit would cost UK £90bn, warns Philip Hammond
A disruptive no deal Brexit could cost the treasury £90bn – far more than is set aside to cope with such an outcome, Philip Hammond warned.  View Article
Bloomberg: May warns Tory rivals she could vote to stop a no-deal Brexit
Prime Minister Theresa May has given her strongest signal yet that she could oppose her successor if he tries to force the UK out of the European Union without a deal.  View Article
City AM: Japanese firms ‘very concerned’ about prospect of no-deal Brexit, warns foreign minister
Japan’s foreign minister has urged the UK to avoid a no-deal Brexit, admitting that Japanese firms are “very concerned” by the possibility.  View Article
The Guardian: Johnson and Hunt's Brexit pledges irresponsible, say manufacturers
The battle between Boris Johnson and Jeremy Hunt to outdo each other in offering the hardest Brexit with “no deal” pledges is the “height of irresponsibility”, showing “zero understanding” of the consequences, business leaders have said.  View Article
Bloomberg: UK June consumer confidence drops as GfK sees turbulent summer
UK consumer confidence took another dip in June as Britons became more pessimistic about their personal financial situation in the face of Brexit uncertainty.  View Article
Institute for Government: Northern Ireland risks being collateral damage in the Conservative leadership contest
The next Prime Minister should seriously consider the threat that no deal poses to Northern Ireland – but Jill Rutter says that neither Jeremy Hunt nor Boris Johnson have shown any signs of doing so.  View Article

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