Tag: Brexit

With 80 Days To Brexit, The Three Questions To Get Your Business Ready

This year, we have all been distracted by the overwhelming challenge of COVID-19, and rightly so. Widespread disruptions, dramatically changed customer behaviour and government restrictions have hit all areas of business since the start of 2020. The pandemic has reduced companies’ cash flow and bandwidth, leaving businesses extremely vulnerable to further disruptions. With what has already been a tumultuous year, there is another serious challenge looming; Brexit. 

While preoccupied with the pandemic many businesses have seemingly forgotten about the massive effect Britain leaving the EU will have. Others are kicking the can down the road, intentionally ignoring it until the drastic change is upon them. On September 24th, The British Chamber of Commerce said that only 52% of UK firms that trade internationally had carried out a risk assessment ahead of the end of the Brexit transition period on 1 January 2021. 

With less than

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The Week Ahead: A Brexit Showdown, U.S Politics, and Economic Data in Focus

On the Macro

It’s a busy week ahead on the economic calendar, with 68 stats in focus in the week ending 16th October. In the week prior, 53 stats had been in focus.

For the Dollar:

It’s a relatively busy week ahead on the economic data front.

On Monday and Tuesday, September inflation and wholesale inflation figures are due out.

The focus then shifts to manufacturing sector activity and labor market numbers on Thursday.

Expect the Philly FED Manufacturing PMI for October and the weekly initial jobless claims to impact.

At the end of the week, retail sales and industrial production figures are due out, along with October consumer sentiment numbers.

Expect the retail sales and prelim Michigan consumer Sentiment figures to have the greatest impact.

Away from the calendar, the next Presidential debate on 15th October will also provide direction. That is assuming that Trump decides to

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Brexit: Pharmaceutical companies stockpiling medicine for Northern Ireland

  • Pharmaceutical companies are stockpiling medicines due to ongoing uncertainty over what will happen in Northern Ireland after Brexit.
  • The UK government last month threatened to rip up its Brexit withdrawal agreement with the EU and has warned that no trade deal may be agreed with the EU by the end of the year.
  • As a result, the industry says they “just don’t know” whether there will need to be checks on medicine going from Great Britain to Northern Ireland from next year.
  • “We just don’t know how it’ll work in Northern Ireland,” the ABPI’s Richard Torbett told Business Insider.
  • Visit Business Insider’s homepage for more stories.

Pharmaceutical companies are building up stockpiles of medicines to supply Northern Ireland due to widespread industry uncertainty over whether medicines will be allowed to move smoothly across the Irish Sea after Brexit.

With less than three months until the Brexit transition period ends, the

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The Weekly Wrap – Data, COVID-19, Brexit, and U.S Politics Drove the Majors

Out of the U.S

It was a particularly busy week on the economic data front.

Key stats included September consumer confidence, ADP nonfarm, Manufacturing PMIs, weekly jobless claims, and labor market data.

Factory orders for August were also in focus at the end of the week.

Finalized 4th GDP and consumer sentiment figures, August inflation, trade, and personal spending data had a muted impact in the week.

The stats were skewed to the positive. Consumer confidence and ADP numbers impressed, with the weekly jobless claims seeing a decline in late September.

With personal spending on the rise, marginally softer growth in the manufacturing sector was the only negative ahead of Friday’s stats. The ISM Manufacturing PMI slipped from 56.0 to 55.4. While the headline figure was negative, the employment sub-index jumped from 46.4 to 49.6.

At the end of the week, the U.S labor market and factory order figures

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EU takes legal action against UK over planned Brexit bill

BRUSSELS (AP) — The European Union took legal action against Britain on Thursday over its plans to pass legislation that would breach parts of the legally binding divorce agreement the two sides reached late last year.

The EU action underscored the worsening relations with Britain, which was a member of the bloc until Jan. 31. Both sides are trying to forge a rudimentary free trade agreement before the end of the year, but the fight over the controversial U.K. Internal Market bill has soured relations this month.

European Commission President Ursula von der Leyen said that the British plan “by its very nature is a breach of the obligation of good faith laid down in the Withdrawal Agreement.”

“If adopted as is, it will be in full contradiction to the protocol of Ireland-Northern Ireland” in the withdrawal agreement.

The EU had given London until Wednesday to withdraw the bill but

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Brexit: Wealthy Britons step up citizenship shopping for visa-free access to EU

The number of British entrepreneurs looking to “buy” citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken.

Investment immigration firm Astons said it had seen a 50 percent and 30 percent year-on-year increase in interest from clients seeking Cypriot or Greek citizenship respectively this quarter, less than four months before UK passport-holders are likely to lose their rights to freedom of movement across the EU.

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Henley & Partners also reported a rise in requests for advice on investment migration applications to Malta, Portugal, Austria and several Caribbean islands, which offer a range of residency rights, visa-free travel to the EU and citizenship to investors in local business or property.

Citizens of certain Caribbean sovereign

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Business leaders urge UK government to avoid no-deal Brexit



Carolyn Fairbairn wearing a blue shirt: Photograph: Stefan Rousseau/PA


© Provided by The Guardian
Photograph: Stefan Rousseau/PA

Business leaders have heaped pressure on the government to agree a last-minute Brexit trade deal after a survey showed that more than three-quarters backed an agreement with Brussels.

The CBI warned ministers that only 4% of company bosses from a survey of 648 said they supported a no deal Brexit, while 77% said they wanted a deal.

Businesses reported that the pace of decline in parts of industry had eased, but half of respondents said the impact of dealing with Covid-19 had negatively affected preparations for Brexit.

The study showed that private sector activity fell in the quarter to September, but at a slower pace, adding to concerns from the British Chambers of Commerce and Make UK, which represents manufacturers, that the recovery has stalled across much of the economy.



Carolyn Fairbairn wearing a blue shirt: Dame Carolyn Fairbairn, CBI director general, has said ‘a deal can and must be made’.


© Photograph: Stefan Rousseau/PA
Dame Carolyn Fairbairn, CBI director general, has said

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Johnson lashes out at EU as he clears first hurdle for Brexit treaty breach

By Elizabeth Piper and William James

LONDON (Reuters) – British Prime Minister Boris Johnson lashed out at the European Union on Monday as he won initial approval for a plan to breach the Brexit treaty, saying the move was needed because the bloc had refused to take a “revolver off the table” in trade talks.

Johnson won the so-called second reading parliamentary vote on the Internal Market Bill 340 to 263. A wrecking amendment was defeated shortly beforehand, though more will follow as he faces a growing rebellion in his party.

The EU says Johnson’s bill would collapse trade talks and propel the United Kingdom towards a messy Brexit while former British leaders have warned that breaking the law is a step too far that undermines the country’s image.

Johnson, though, said it was essential to counter “absurd” threats from Brussels including that London put up trade barriers between Britain

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UK’s Johnson Says Plan to Break Brexit Treaty Needed to Counter EU’s ‘Revolver’ | World News

By Elizabeth Piper and William James

LONDON (Reuters) – British Prime Minister Boris Johnson said on Monday a bill that would break international law by breaching parts of the Brexit divorce deal was needed because the European Union had not taken a “revolver off the table” in trade talks.

Johnson accuses the EU of threatening to use the withdrawal treaty agreed in January to put up trade barriers between mainland Britain and Northern Ireland, and even to impose a food blockade, the latest brinkmanship of a four-year saga since Britain voted narrowly to leave the bloc.

The EU says Johnson’s plan would wreck trade talks and propel the United Kingdom towards a messy Brexit. A derivatives industry source said on Monday the European Commission had delayed a decision on euro clearing, ramping up the pressure.

As Britain’s House of Commons began debating the Internal Market Bill, which the EU has

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Johnson’s plan to break Brexit divorce treaty faces vote in UK parliament

Adds details

LONDON, Sept 14 (Reuters)British Prime Minister Boris Johnson’s plan to break international law by breaching parts of the Brexit divorce treaty with the European Union faces a vote in parliament on Monday amid growing opposition from within his own party.

The House of Commons will on Monday debate the Internal Market Bill, which the EU has demanded Johnson scrap by the end of September. After the debate, lawmakers will decide if it should go to the next stage. A vote could be late.

Johnson’s decision to explicitly break international law has plunged Brexit back into crisis less than four months before Britain is finally due to leave the EU’s orbit when a post-Brexit transition period ends in December.

The EU has ramped up no-deal Brexit preparations while Britain has dismissed an ultimatum from Brussels to scrap the main parts of the bill by the end

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