Brexit News Archive: 30 Sep 2016

Brexit so far

The BBC looks at what has actually happened in the UK since the country voted in June to leave the European Union.
BBC   |   Fri, 30 Sep 2016 16:02:05

UK based carmakers voice concerns about Brexit effects

Britain's planned exit from the European Union is disturbing car company bosses, including the heads of Nissan and Jaguar Land Rover.
euronews   |   Fri, 30 Sep 2016 13:41:36

Focus On U.K. Pensions As Costs Predicted To Hit £10.8bn ($14bn) In 2017

Pensions - regarded by many people as sacrosanct - are in the spotlight and under fire in the United Kingdom after that vote for 'Brexit.' Joining up the dots on this issue will be even more complicated for the country's political and business leadership which is facing high levels of ...
Dina Medland, Contributor / Forbes   |   Fri, 30 Sep 2016 12:30:00

UK heading for hard Brexit, say European diplomats

As chief negotiator starts work, dominant view on continent is that Britain will leave EU single market and customs union European diplomats are increasingly convinced the UK will sever economic ties with the continent when it leaves the European Union, as hopes of a special partnership languish. As the European ...
Jennifer Rankin in Brussels / Guardian   |   Fri, 30 Sep 2016 11:55:11

Jaguar Land Rover says Brexit must be fair for all car manufacturers

Chief executive Ralf Speth says there are signs some EU customers no longer want to buy British cars since referendum Jaguar Land Rover has said some customers in Europe may be boycotting British cars following the UK's vote to leave the European Union. Chief executive, Ralf Speth, said on Friday ...
Staff and Reuters / Guardian   |   Fri, 30 Sep 2016 11:55:00

They have come to bury free trade, not to praise it

The protectionist vandalism of the Brexiters
FT   |   Fri, 30 Sep 2016 11:41:54

100 days after Brexit vote: No meltdown (yet)

It's 100 days since the Brexit vote and the British economy appears to be humming along nicely. Stay tuned!
CNN   |   Fri, 30 Sep 2016 11:34:48

Ireland's post-Brexit labour pain

Colm O'Regan looks at the implications of Brexit for Irish workers who cross the border on their daily commute.
BBC   |   Fri, 30 Sep 2016 11:34:33

100 days after vote: No meltdown (yet)

CNN   |   Fri, 30 Sep 2016 11:34:21

UK economic growth: what the economists say

Recession unlikely but uncertainty over Brexit details may slow down the economy in 2017 Britain's economy was stronger than initially thought in the run-up to the EU referendum, growing by 0.7% in the second quarter, according to the Office for National Statistics. Related: UK economy grows by 0.7% in second ...
Angela Monaghan / Guardian   |   Fri, 30 Sep 2016 11:32:23

UK economic data reveals resilience after Brexit vote

Recession looks unlikely after service sector expanded by 0.4% in July, but balance of payments deficit widened to 5.7% of GDP It is still early days, but the UK economy should avoid the immediate post-Brexit vote recession many forecasters had predicted. That was the main message of the economic data ...
Larry Elliott / Guardian   |   Fri, 30 Sep 2016 11:02:01

Exit before Brexit: 'Unwelcome' EU citizens eye their escape

The Britain that Samuele Marcora fell in love with still exists: He can ride his motorbike along winding mountain roads and past unspoilt sandy beaches, laugh at stand-up comedy nights, enjoy live music at rock gigs, or meet his PhD students for coffee.
CNN   |   Fri, 30 Sep 2016 10:40:38

UK house price growth slows as demand cools after Brexit vote

Average house prices increased by 0.3% in September, following a 0.6% rise in August, says Nationwide Growth in UK house prices slowed in September as demand for homes softened, according to the latest snapshot of the market from Nationwide. Average house prices increased by 0.3% this month to £206,015, following ...
Angela Monaghan / Guardian   |   Fri, 30 Sep 2016 09:48:40

UK GDP Growth Revised Up To 0.7% - Services Hugely More Important Than Manufacturing

We have the revision to UK GDP growth for the second quarter this morning. And the number has been revised up to 0.7% growth from the previously estimated 0.6% growth. This shows that the economy was accelerating in the lead up to the Brexit vote (these numbers include only a ...
Tim Worstall, Contributor / Forbes   |   Fri, 30 Sep 2016 09:38:00

Nissan Seeks Brexit Assurances Before New U.K. Investment

Zuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressNissan Seeks Brexit Trade Assurances Before New U.K. Investment Nissan may scrap a major investment in the U.K. without more clarity on the post-Brexit trade relations, said CEO Carlos Ghosn, who also demanded compensation from the ...
WSJ   |   Fri, 30 Sep 2016 09:25:14

UK service sector grows despite Brexit fears

Second-quarter GDP revised up while current account deficit widens
FT   |   Fri, 30 Sep 2016 09:04:45

Nissan demands Brexit compensation for new UK investment

Carmaker fears it could face tariffs to export UK-assembled cars to EU markets in the event of a 'hard Brexit' Nissan wants Britain to pledge compensation for any tax barriers resulting from its decision to leave the European Union, or the Japanese automaker could scrap a potential new investment in ...
Reuters / Guardian   |   Fri, 30 Sep 2016 08:09:06

Brexit provides opportunity for small banks: CEO

Rishi Khosla, CEO of OakNorth Bank, explains why Brexit has benefited smaller banks.
CNBC   |   Fri, 30 Sep 2016 08:00:00

Theresa May should start the Conservative Party conference by telling us when she'll trigger Article 50 on Brexit

Nick Faith / Telegraph   |   Fri, 30 Sep 2016 06:00:00

Lawyers gear up to sue ministers over Brexit

Claimants want parliamentary vote before Article 50 is invoked
FT   |   Fri, 30 Sep 2016 04:31:26

Nissan boss warns on UK investment

The boss of Nissan warns that Brexit uncertainty and possible tariffs could damage investment in the UK's biggest car factory.
BBC   |   Fri, 30 Sep 2016 01:09:05

Nissan Seeks Brexit Trade Assurances Before New U.K. Investment

PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressZuma PressNissan Seeks Brexit Trade Assurances Before New U.K. Investment Nissan may scrap a major investment in the U.K. without more clarity on the post-Brexit trade relations, said CEO Carlos Ghosn, who also demanded compensation from the government ...
WSJ   |   Fri, 30 Sep 2016 01:07:03

UK consumer confidence recovers to pre-EU referendum level

Poll shows UK consumers have shrugged off Brexit fears but economists doubt the optimism can last when EU talks begin in earnest Consumer confidence has continued to recover from the shock of June's Brexit vote, with a key gauge of sentiment back to its pre-referendum level - but economists warn ...
Katie Allen / Guardian   |   Thu, 29 Sep 2016 23:01:04

MEP: Hard Brexit 'makes Scottish independence more difficult'

Simon Johnson / Telegraph   |   Thu, 29 Sep 2016 18:13:45

Nissan delays Sunderland investment plans

Chief executive Carlos Ghosn says decision on hold due to concerns over EU tariffs after Brexit
FT   |   Thu, 29 Sep 2016 17:55:53

Hard Brexit or soft Brexit?

A look at the different options for the UK's relationship with the European Union after Brexit.
BBC   |   Thu, 29 Sep 2016 17:31:45

Liam Fox signals Britain will leave the single market in 'hard Brexit'

Kate McCann / Telegraph   |   Thu, 29 Sep 2016 17:01:55

How To Invest In Q4 2016: The Best Ideas From 5 Stock Market Pros

The stock market faces a sea of uncertainty in the final stretch of 2016: The U.S. presidential election, whether the Federal Reserve will hike interest rates, S&P 500 (SPY) companies set to post falling profits for the sixth quarter straight, fallout from the Brexit. How should investors position their portfolios ...
Ky Trang Ho, Contributor / Forbes   |   Thu, 29 Sep 2016 16:50:00

Dealmaking falls to three-year low

Pulled bids and Brexit vote subdue US and UK activity
FT   |   Thu, 29 Sep 2016 16:46:27

Liam Fox predicts free EU trade post-Brexit

International Trade Secretary Liam Fox says he wants the UK's trade with the European Union to be "at least as free" after Brexit.
BBC   |   Thu, 29 Sep 2016 16:17:39

Nissan boss: 10% tariffs would be 'handicap'

Nissan Renault boss Carlos Ghosn warns that Sunderland plant would lose competitiveness if Brexit results in 10% tariffs on car exports.
BBC   |   Thu, 29 Sep 2016 16:13:57

Britain will have to stick with EU bank regulation after Brexit - lobbyist

FRANKFURT, Sept 29- Britain will have no choice but to stick with European Union banking laws when it leaves the bloc to avoid blowing a "huge hole" in its regulatory system, a financial industry lobbyist said on Thursday. This would blow a huge hole in Britain's regulatory system, "Bishop, who ...
CNBC   |   Thu, 29 Sep 2016 15:57:00

Capita's shares crash after Brexit fears prompt shock profit warning

Shares in outsourcing firm plunge 28% as it blames weak second half on economic uncertainty caused by EU vote Shares in Capita, the outsourcing company that collects the London congestion charge and the BBC licence fee, have crashed after it issued a surprise profit warning for 2016, blaming Brexit jitters ...
Angela Monaghan / Guardian   |   Thu, 29 Sep 2016 15:55:53

Stopping Brexit can save the EU

The EU is facing five crises that could destroy it - and Brexit could be the detonator. But only modest changes to immigration and fiscal rules are needed to stop an implosion "Never let a crisis go to waste" has always been one of the European Union's guiding principles. But ...
Anatole Kaletsky / Guardian   |   Thu, 29 Sep 2016 15:14:01

Honda boss : We want a fast decision on Brexit

Following the UK's vote for Brexit, Japanese car manufacturer Honda reaffirms its commitment to the UK as a major manufacturing base., but says it wants a "fast decision" on Brexit.
BBC   |   Thu, 29 Sep 2016 15:10:16

1 Quarter Removed From Brexit, Europe's High Yield Bond Mart Poised For Busiest Month Ever

The third quarter got underway with the U.K.'s Brexit vote ringing in the ears, and back then few would have forecast that high-yield issuance numbers - and market conditions generally - would be as strong as they are now. Once all this week's deals get done September is set to ...
Luke Millar, Contributor / Forbes   |   Thu, 29 Sep 2016 15:08:00

German business leader issues warning over post-Brexit trade with UK

Markus Kerber dismisses claims German firms will not tolerate trade tariffs and says relations with rest of EU more important The head of Germany's largest business group has said German firms will not push for a free trade deal between the EU and Britain after Brexit, despite the number of ...
Jon Henley and Patrick Wintour / Guardian   |   Thu, 29 Sep 2016 14:59:48

Brexit impact 0.5-1 point of GDP - DEF blueprint

Rome, September 29 - The Brexit will hit the Italian economy by between 0.5 and 1.0 of a percentage point of GDP in the 2016-2017 period, according to the revised version of the government's economic blueprint, the Economic and Financial Document (DEF). It said Britain's exit from the European Union
Gazzetta Del Sud   |   Thu, 29 Sep 2016 13:30:00

Brexit uncertainty is a headache for Renault

The U.K.'s decision to leave the European Union created uncertainty in many sectors of the economy, including the autos industry.
CNBC   |   Thu, 29 Sep 2016 12:42:00

Liam Fox looks to WTO in hint at 'hard Brexit' stance

Trade secretary says World Trade Organisation membership is opportunity for UK to enhance links with other markets Liam Fox has hailed the opportunity for Britain to become a fully independent member of the World Trade Organisation after leaving the EU, indicating that he appears to favour a "hard Brexit". In ...
Rowena Mason Deputy political editor / Guardian   |   Thu, 29 Sep 2016 12:17:25

Brexit, not the EU, will be to blame for Britain's economic problems

Britain's economy is sluggish and unproductive, and will worsen with Brexit, according to a report from the Centre for European Reform (CER). The report, authored by Simon Tilford, disputes claims made by those campaigning to leave the European Union that Britain's economy was "dynamic and flexible," and had "little to ...
Business Insider   |   Tue, 27 Sep 2016 09:11:06

Stocks Wipe Out Post-Fed Gains As Deutsche Dread Batters US Banks

VIX spiked to 14.5, its 100-day moving average, ahead of tonight's debate... As Deutsche Bank contagion concerns... Spark spike in European bank counterparty risk... and Germany CDS is starting to show signs of concern... Sent US bank stocks tumbling... (among the worst days for Financials since Brexit... But financials have ...
Zero Hedge   |   Mon, 26 Sep 2016 20:03:17

UK Minister Says Britain Will Suffer Economic Shock With No Trade Deal

Britain will suffer an "economic shock" if the European Union refuses to sign a free trade deal after Brexit, a Government minister has admitted for the first time. Lord Price, a minister in the International Trade department and the former managing director of Waitrose, admitted that the Government must "ensure" ...
OANDA   |   Mon, 26 Sep 2016 13:57:20

What does a hard Brexit or a soft Brexit actually mean?

As discussion over what happens next following the UK's vote to leave the EU intensifies, people have increasingly used the terms 'hard Brexit' or 'soft Brexit'. However, these terms are rarely defined and can mean different things to different people. Open Europe's Raoul Ruparel lays out his attempt at defining ...
Open Europe   |   Mon, 26 Sep 2016 13:35:39

Will Deutsche Bank's Collapse Be Worse Than Lehman Brothers?

Few analysts noted it, but the $USD actually staged its second strongest day of the year the Friday before last. The only other day in which the $USD rallied more was on the day of BREXIT, a black swan event that featured EXTREME currency volatility. This move tells us something ...
Gains Pains & Capital   |   Mon, 26 Sep 2016 13:04:06

Iris Dorbian wrote a new post, PE HUB First Read, on the site PE Hub

Three-quarters of CEOs in Britain said they would consider moving their companies out of the U.K. because of Brexit. Snapchat has rebranded as Snap Inc. It's also going to sell Spectacles that record 10- [...]
peHUB   |   Mon, 26 Sep 2016 10:34:24

FT Opening Quote: City fears for a "hard" Brexit

City fears for a "hard" Brexit, Aldi to revamp stores, investment boost at MonarchFT Opening Quote, with commentary by City Editor Jonathan Guthrie , is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: City fears for a "hard" Brexit
FT Alphaville   |   Mon, 26 Sep 2016 07:04:42

Is "hard Brexit" becoming more or less likely?

You can argue it either way. On one hand, the forward march of the UK economy, and the inability to develop a coherent negotiating position, militate in favor of a relatively quick and condition-less Brexit. The European Union is not offering any very flexible intermediate deals, perhaps to punish future ...
Marginal Revolution   |   Mon, 26 Sep 2016 04:49:16

Brexit News Archive: 30 Sep 2016     |     enquire