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Finance firms have announced that about 7,600 jobs will move from the UK to the bloc Photographer: Patrick Bolger/Bloomberg(Bloomberg)

Dublin is top relocation spot for finance firms leaving London after Brexit

Bloomberg
PUBLISHED ON MAR 02, 2021 12:34 PM IST
  • Three dozen financial services firms are considering moving some UK operations to the Irish capital, or have already done so.
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Trading in EU shares and derivatives, for example, has already left Britain for continental Europe. REUTERS/Simon Dawson/File Photo(REUTERS)
Trading in EU shares and derivatives, for example, has already left Britain for continental Europe. REUTERS/Simon Dawson/File Photo(REUTERS)

London could lose out to New York under draft EU finance deal

Reuters, London
PUBLISHED ON FEB 26, 2021 06:12 PM IST
  • Britain's financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as the sector is not covered by the UK-EU trade deal.
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The government is due to issue papers in the coming days outlining its approach to financial technology (fintech) and capital markets.(REUTERS)
The government is due to issue papers in the coming days outlining its approach to financial technology (fintech) and capital markets.(REUTERS)

Five things shaping Britain's financial rulebooks after Brexit

Reuters, London
PUBLISHED ON FEB 25, 2021 06:04 PM IST
Here are five things set to shape the City of London financial hub following its loss of access to the EU.
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The findings add to evidence that friction at ports is weighing on Britain’s ability to trade following after the nation left the European Union’s common customs system.(Bloomberg photo)
The findings add to evidence that friction at ports is weighing on Britain’s ability to trade following after the nation left the European Union’s common customs system.(Bloomberg photo)

UK companies say Brexit paperwork is biggest headache stressing supply chains

Bloomberg
PUBLISHED ON FEB 25, 2021 05:21 PM IST
About 38% of exporters and 39% of importers identified form-filling as their main hurdle, according to a survey conducted by the Office for National Statistics.
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The BOE’s decision was included in a wide-ranging regulatory proposal on Friday that implements international capital and liquidity standards.(REUTERS)
The BOE’s decision was included in a wide-ranging regulatory proposal on Friday that implements international capital and liquidity standards.(REUTERS)

Bank of England imposes tougher rule on banks in first post-Brexit proposal

Bloomberg
PUBLISHED ON FEB 12, 2021 10:10 PM IST
  • The central bank’s Prudential Regulation Authority said it won’t allow lenders in the country to get a capital benefit from their investments in software technology. The decision contrasts with a move by the EU last year to allow its lenders to get a break on capital worth up to 20 billion euros
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People walk by Westfield shopping centre in Shepherd's Bush, following the outbreak of the coronavirus disease (Covid-19), London(Reuters File Photo/Representative Image )
People walk by Westfield shopping centre in Shepherd's Bush, following the outbreak of the coronavirus disease (Covid-19), London(Reuters File Photo/Representative Image )

Brexit poses ‘existential’ threat to some UK firms, BCC says

Bloomberg
PUBLISHED ON FEB 11, 2021 06:16 AM IST
Businesses are also bracing for extra controls which will apply to imports from the EU from April and July, threatening to coincide with rising economic activity as the UK emerges from lockdown restrictions.
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Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs(REUTERS)
Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs(REUTERS)

How a ‘mind-blowing’ blunder created a dangerous Brexit standoff

Bloomberg
PUBLISHED ON FEB 06, 2021 12:00 PM IST
The EU may have retreated, but it has inadvertently allowed Northern Ireland’s unionists, who want to remain part of the UK, to revive a separate and far bigger controversy that Brexit was supposed to have settled for good: the status of the border with mainland Britain.
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Britain's Prime Minister Boris Johnson leaves Downing Street in London, Britain, January 20, 2021.(REUTERS)
Britain's Prime Minister Boris Johnson leaves Downing Street in London, Britain, January 20, 2021.(REUTERS)

Scottish leader says Boris Johnson fears democracy over independence issue

Reuters
PUBLISHED ON JAN 24, 2021 06:01 PM IST
Scotland voted against independence by 55% to 45% in a 2014 referendum. But a majority of Scots also backed staying in the European Union in the subsequent 2016 Brexit vote, stoking demands by Scottish nationalists for a new independence vote after the UK as a whole voted to leave.
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The report reflects on the prospect of including India within any new Democratic 10 or D10 coalition of 10 leading democracies at this time(MINT_PRINT)
The report reflects on the prospect of including India within any new Democratic 10 or D10 coalition of 10 leading democracies at this time(MINT_PRINT)

India not just commercial partner, but also rival to post-Brexit UK

PTI
PUBLISHED ON JAN 11, 2021 09:38 PM IST
A Chatham House report warns that some of the original targets of ‘Global Britain’ like India, may be important to the UK’s commercial interests, but they will be rivals or, at best, awkward counterparts on many of its global goals.
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Britain will change its rules to attract issuers and investors to the U.K. market but won’t necessarily enable EU share trading in London, according to Haynes.(AP (Representative Image))
Britain will change its rules to attract issuers and investors to the U.K. market but won’t necessarily enable EU share trading in London, according to Haynes.(AP (Representative Image))

Brexit pushes almost 100% of European share trading off UK venue

By Bloomberg | Posted by Nilavro Ghosh
PUBLISHED ON JAN 04, 2021 05:40 PM IST
The City of London lost its rights to access the single market on December 31 and the EU has not permitted investors inside the bloc to trade shares in companies such as Airbus SE and BNP Paribas SA from the UK.
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Supermarkets have stockpiled key goods, but there are concerns about fresh produce supplies as shippers adjust to new border protocols(REUTERS)
Supermarkets have stockpiled key goods, but there are concerns about fresh produce supplies as shippers adjust to new border protocols(REUTERS)

Higher food costs stalk Britons as new year brings Brexit

By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON JAN 04, 2021 12:58 PM IST
A raft of red tape plus new checks at the border could add 3 billion pounds ($4.1 billion) in costs for food importers, according to the UK’s Food and Drink Federation. That’s about an 8% increase -- some of which could work its way down to prices paid at checkouts.
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Dover remains the UK’s most important link with the EU, the country’s biggest trade partner(REUTERS)
Dover remains the UK’s most important link with the EU, the country’s biggest trade partner(REUTERS)

All quiet in Dover: The calm before Brexit’s border storm

By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 31, 2020 03:59 PM IST
In response, logistics firms have redoubled efforts to relieve pressure on truck traffic, stepping up air freight, container ferry and air-cargo shipments. With the New Year arriving on a long weekend, concerns of an immediate repeat of last week’s spectacle have diminished.
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Britain's Prime Minister Boris Johnson speaks during the debate in the House of Commons on the EU (Future Relationship) Bill.(AP)
Britain's Prime Minister Boris Johnson speaks during the debate in the House of Commons on the EU (Future Relationship) Bill.(AP)

British lawmakers approve post-Brexit trade deal with EU

By Associated Press | Posted by Kunal Gaurav | London
UPDATED ON DEC 30, 2020 08:22 PM IST
With just a day to spare, lawmakers voted 521-73 Wednesday to approve the agreement sealed between the UK government and the EU last week.
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Prime Minister Boris Johnson has urged MPs to back the “historic” bill, which he says is not “a rupture but a resolution” of the UK’s relationship with its European neighbours.(AP)
Prime Minister Boris Johnson has urged MPs to back the “historic” bill, which he says is not “a rupture but a resolution” of the UK’s relationship with its European neighbours.(AP)

UK Parliament to vote on ‘historic’ Brexit trade deal with EU

By Press Trust of India | Posted by Srivatsan K C | London
PUBLISHED ON DEC 30, 2020 02:43 PM IST
The 80-page bill, which follows a last-minute deal agreed with the European Union (EU) last week just days before the December 31 deadline of the end of the Brexit transition period, will be debated by members of Parliament (MPs) in the House of Commons followed by the House of Lords.
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A pedestrian wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai.(Bloomberg)
A pedestrian wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai.(Bloomberg)

Stocks climb to fresh records on foreign inflows

By Nasrin Sultana | Livemint, Mumbai
UPDATED ON DEC 29, 2020 06:05 AM IST
Global markets cheered the news of a $2.3 trillion stimulus in the US and the historic Brexit trade deal between the UK and European Union.
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European Union nations have unanimously approve the post-Brexit trade deal with the United Kingdom, a prerequisite for the agreement to come into operation on New Year’s Day(REUTERS)
European Union nations have unanimously approve the post-Brexit trade deal with the United Kingdom, a prerequisite for the agreement to come into operation on New Year’s Day(REUTERS)

EU nations unanimously back post-Brexit trade deal with UK

By Associated Press | Posted by Ayshee Bhaduri | London
PUBLISHED ON DEC 28, 2020 07:11 PM IST
The approval had been expected ever since the deal was announced and all EU leaders warmly welcomed it. It still needs approval from the EU’s legislature, which is expected to come in February. The UK’s House of Commons is expected to approve it on Wednesday.
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Prime Minister Narendra Modi spoke to Prime Minister Boris Johnson on November 27, where the two leaders hoped for a quantum jump in overall India-UK partnership post-Brexit as they saw huge potential for enhancing collaborations.(AFP)
Prime Minister Narendra Modi spoke to Prime Minister Boris Johnson on November 27, where the two leaders hoped for a quantum jump in overall India-UK partnership post-Brexit as they saw huge potential for enhancing collaborations.(AFP)

India and UK to finalise early harvest trade deals by 2021, ahead of comprehensive FTA

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 28, 2020 06:28 PM IST
According to officials, India’s trade negotiations with UK are based on the principle of mutual benefit and arriving at an agreement is relatively easy because of the bilateral nature of negotiations
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Brexit has given India an opportunity to show that it is not protectionist as much as forward-looking when it comes to trade, technology and investment. The question is whether the Modi government has a strategic enough sense of trade policy to grasp this chance.(AP)
Brexit has given India an opportunity to show that it is not protectionist as much as forward-looking when it comes to trade, technology and investment. The question is whether the Modi government has a strategic enough sense of trade policy to grasp this chance.(AP)

Brexit: India could gain as of now

UPDATED ON DEC 28, 2020 07:04 AM IST
The real test for India will be whether it can leverage the UK’s desire for some quick trade agreement successes and put together a 21st century economic partnership deal that stresses services, aligns data standards, and incorporates immigration
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Prime Minister Boris Johnson said major changes are coming in the UK as the result of the trade deal his government negotiated with the European Union(AP)
Prime Minister Boris Johnson said major changes are coming in the UK as the result of the trade deal his government negotiated with the European Union(AP)

Boris Johnson sees major changes after Brexit deal, Telegraph says

By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 27, 2020 04:09 PM IST
The agreement on the UK’s exit from the EU’s single market and customs union will allow for tariff and quota-free trade in goods after December 31. It doesn’t apply to the services industry -- about 80% of the UK economy -- or financial services.
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German Agriculture Minister Julia Kloeckner warned of “painful cuts” for the European Union’s fishing industry due to the trade deal the bloc has reached with the United Kingdom(REUTERS)
German Agriculture Minister Julia Kloeckner warned of “painful cuts” for the European Union’s fishing industry due to the trade deal the bloc has reached with the United Kingdom(REUTERS)

Germany laments ‘painful cuts’ for fishing sector in Brexit deal

By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 26, 2020 05:50 PM IST
Fishing was one of the most contentious issues in the Brexit talks that concluded Thursday, and the agreement means the EU’s share of the catch in UK waters will fall by 25% over a period of five-and-a-half years. During that time reciprocal access rights remain unchanged.
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There is a temporary provision in the deal that allows the flow of data between the EU and UK until the bloc a data adequacy decision.(AP)
There is a temporary provision in the deal that allows the flow of data between the EU and UK until the bloc a data adequacy decision.(AP)

From goods trade to travel norms: Key points of post-Brexit trade deal

By hindustantimes,com | Edited by Nilavro Ghosh | Hindustan Times, New Delhi
UPDATED ON DEC 26, 2020 03:45 PM IST
The trade deal does not impose any tariffs or quotas on goods traded between the EU and UK, however, British exporters will have to contend with new regulatory hurdles which will make it costlier to do business with Europe.
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Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs(REUTERS)
Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs(REUTERS)

Brexit trade deal goes beyond Boris Johnson’s claims of a ‘Canada-style’ trade accord, says BBC

By Reuters | Posted by Ayshee Bhaduri | London
PUBLISHED ON DEC 26, 2020 02:01 PM IST
British Prime Minister Boris Johnson on Thursday had described the last-minute agreement as a “jumbo” free trade deal along the lines of that between the EU and Canada. The BBC report added that at first look, the full post-Brexit text went beyond a so-called “Canada-style” deal.
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Closer to home, UK farmers are grappling with changes to subsidies which have been laid out in the Environment Land Management Scheme.(AP file photo)
Closer to home, UK farmers are grappling with changes to subsidies which have been laid out in the Environment Land Management Scheme.(AP file photo)

Britain’s farmers face double uncertainty with Brexit and subsidy overhaul

By Agence France-Presse| Posted by: Harshit Sabarwal | Christs Hospital, United Kingdom
UPDATED ON DEC 26, 2020 09:39 AM IST
Since Britons voted to leave the EU in 2016, farmers have had to contend with four years of uncertainty. Would tariffs be placed on goods exported to the bloc? What changes might be made to farming subsidies previously decided by Brussels through the Common Agricultural Policy (CAP).
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Britain's Prime Minister Boris Johnson speaks during a media briefing in Downing Street, London, Thursday, Dec. 24, 2020. Britain and the European Union have struck a provisional free-trade agreement that should avert New Year’s chaos for cross-border commerce and bring a measure of certainty to businesses after years of Brexit turmoil. (Paul Grover/Pool Photo via AP)
Britain's Prime Minister Boris Johnson speaks during a media briefing in Downing Street, London, Thursday, Dec. 24, 2020. Britain and the European Union have struck a provisional free-trade agreement that should avert New Year’s chaos for cross-border commerce and bring a measure of certainty to businesses after years of Brexit turmoil. (Paul Grover/Pool Photo via AP)

European Union assesses Brexit trade deal with UK

By Associated Press | Posted by Karan Manral | Brussels
UPDATED ON DEC 25, 2020 07:35 PM IST
Ambassadors from the bloc’s 27 nations convened on Christams Day ahead of a week in which the historic accord will come into effect.
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Bank of England Governor Andrew Bailey recently warned that a failure to secure a UK-EU trade deal would have a greater long-term impact on the British economy than the long-term impact of the coronavirus pandemic.(AP)
Bank of England Governor Andrew Bailey recently warned that a failure to secure a UK-EU trade deal would have a greater long-term impact on the British economy than the long-term impact of the coronavirus pandemic.(AP)

What now for British economy with UK-EU trade deal reached?

By Press Trust of India | Posted by Deepali Sharma | London
PUBLISHED ON DEC 25, 2020 05:20 AM IST
The government has estimated that the new red tape will result in an extra 215 million customs declarations each year at an annual cost of about 7 billion pounds.
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“The negotiations were very difficult. A lot was at stake for so many people, so this was an agreement that we absolutely had to fight for,” said Ursula von der Leyen.(AP)
“The negotiations were very difficult. A lot was at stake for so many people, so this was an agreement that we absolutely had to fight for,” said Ursula von der Leyen.(AP)

EU’s Ursula von der Leyen says Brexit deal ‘fair, balanced and right’

By Reuters | Posted by Srivatsan K C | Brussels
PUBLISHED ON DEC 24, 2020 09:16 PM IST
“It was a long and winding road. But we have got a good deal to show for it. It is fair, it is a balanced deal, and it is the right and responsible thing to do for both sides,” Ursula von der Leyen told a news conference.
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Spot gold edged up 0.3% at USD 1,877.82 an ounce at in New York. Prices are up nearly 24% this year, on course for the biggest annual gain in a decade.(Reuters file photo)
Spot gold edged up 0.3% at USD 1,877.82 an ounce at in New York. Prices are up nearly 24% this year, on course for the biggest annual gain in a decade.(Reuters file photo)

Gold edges up as traders assess Brexit trade deal, US stimulus

By Bloomberg | Posted by Srivatsan K C
PUBLISHED ON DEC 24, 2020 09:01 PM IST
“Gold prices are benefiting from a Brexit trade deal breakthrough that paved the way for a weaker dollar,” said Edward Moya, a senior market analyst at Oanda Corp.
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Sources on both sides said the long and difficult negotiations were on the cusp of being wrapped up as negotiators, holed up at EU headquarters in Brussels with a stack of pizzas, worked to deliver the text to their leaders at dawn on Thursday.(AP)
Sources on both sides said the long and difficult negotiations were on the cusp of being wrapped up as negotiators, holed up at EU headquarters in Brussels with a stack of pizzas, worked to deliver the text to their leaders at dawn on Thursday.(AP)

UK, EU on cusp of striking Brexit trade deal at last

By Associated Press | Posted by Nilavro Ghosh | Brussels
PUBLISHED ON DEC 24, 2020 12:56 PM IST
After resolving the remaining fair-competition and fisheries issues on Wednesday, negotiators combed through hundreds of pages of legal text that should become the provisional deal for a post-Brexit relationship after nine months of talks.
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European Union (EU) flags outside the Berlaymont building in Brussels, Belgium. Photographer: Geert Vanden Wijngaert/Bloomberg
European Union (EU) flags outside the Berlaymont building in Brussels, Belgium. Photographer: Geert Vanden Wijngaert/Bloomberg

UK, EU on the brink of ‘historic’ post-Brexit trade accord

By Bloomberg | Posted by Karan Manral
UPDATED ON DEC 23, 2020 10:11 PM IST
Though officials said that the negotiators from the two sides are in the very final phases of the talks, talks are still continuing on fisheries, the biggest obstacle to an accord.
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A senior diplomat who took part in the meeting with Barnier said the EU’s latest offer on fish was its final one, and added that there was still concern around regulating production standards and state aid to ensure corporate fair play.(Bloomberg)
A senior diplomat who took part in the meeting with Barnier said the EU’s latest offer on fish was its final one, and added that there was still concern around regulating production standards and state aid to ensure corporate fair play.(Bloomberg)

EU vows ‘final push’ in UK trade talks but fish rift threatens deal

By Reuters | Posted by Nilavro Ghosh | Brussels
UPDATED ON DEC 23, 2020 10:11 AM IST
The much-delayed final stages of the already tortuous negotiations now coincide with a fresh crisis after EU members and other countries suspended most travel to and from Britain to curb a new, more contagious variant of the coronavirus.
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