Brexit News Archive: 11 Oct 2016

Pound completes worst four-day performance since Brexit vote

Bank of England official said he expected further fall driven by referendum result and UK's trade deficit with rest of world The pound endured another day of pressure from investors on Tuesday after continued jitters on the foreign exchange markets pushed it down more than two cents to $1.21. Sterling ...
Phillip Inman / Guardian   |   Tue, 11 Oct 2016 19:49:19

Key government adviser says leaving EU customs union will cost UK £25bn

Raoul Ruparel made the analysis prior to being appointed by David Davis to lend expertise on leaving the EU The British economy will be hit by a "permanent cost" of more than £25bn if it decides to withdraw from the EU customs union, the government's new key adviser on Brexit ...
Anushka Asthana, Rowena Mason and Rajeev Syal / Guardian   |   Tue, 11 Oct 2016 19:44:37

GBP/USD: "hard Brexit" woes just keep coming - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the British Pound tumbled against its American rival, printing a daily low of 1.2088, befor
Ross J Burland / FX Street   |   Tue, 11 Oct 2016 19:42:59

Bankers warn Brexit could force jobs out of London

Bank of England policymaker says loss of high-paid City jobs could knock hole in Britain's budget Top bankers have warned that Brexit could force their industry to shift jobs out the City, as a senior policymaker at the Bank of England warned the loss of such high-paid roles could knock ...
Jill Treanor / Guardian   |   Tue, 11 Oct 2016 19:13:02

Pound falls under $1.21 as Brexit fears hit sterling - as it happened

Anxiety over the cost of a hard Brexit have sent sterling reeling to just $1.2092 in late trading Summary: Another bad day for the pound FTSE fails to hit record closing high Bankers talk about quitting London in 2017 Hard Brexit could cause budget hole Bank of England's Saunders thinks ...
Graeme Wearden / Guardian   |   Tue, 11 Oct 2016 19:03:27

yields hit highest since June as market squares Columbus Day trading

* Monday futures trading, technical positioning push yields higher * 10-year yields hit highest since June jobs report * 30-year yields highest since Brexit * Longer-dated yields retrace...
Reuters   |   Tue, 11 Oct 2016 19:03:23

Theresa May urged to give Nissan assurances over EU export tariffs

Labour MP says tens of thousands of jobs at risk with future of Sunderland Nissan plant put in jeopardy by Brexit uncertainty Sunderland faces the loss of tens of thousands of jobs unless Theresa May gives urgent assurances to Nissan over trade tariffs, a local MP has warned. Julie Elliott, ...
Josh Halliday / Guardian   |   Tue, 11 Oct 2016 18:37:21

Deal to double flights between UK and China takes off

Agreement to permit up to 100 passenger flights a week each way, with no limit on cargo flights, hailed as boost for post-Brexit Britain Thousands more flights between the UK and China could operate each year after a deal was struck in London to more than double the number of ...
Gwyn Topham Transport correspondent / Guardian   |   Tue, 11 Oct 2016 18:36:24

The Guardian view on the pound's crash: the markets deliver their verdict on Brexit Britain - and it's not pretty | Editorial

Weaker sterling will not rebalance a badly lopsided economy. But it will make the poor poorer Even the darkest cloud has a silver lining and there is one definite upside to sterling's crash. Those Brexiters eager to reintroduce the imperial system of measurement can rename our heavily devalued pound the ...
Editorial / Guardian   |   Tue, 11 Oct 2016 18:30:09

Dollar climbs to 11-week peak on rate hike bets; pound slides

The dollar hit a high on Tuesday as investors increased bets that the Federal Reserve would raise interest rates in December.
CNBC   |   Tue, 11 Oct 2016 18:11:00

Pound plunges on growing Brexit concerns

Pressure eases on gilts and FTSE retreats from intraday high
FT   |   Tue, 11 Oct 2016 17:58:56

Who are the winners and losers in sterling's plunge?

How drivers, exporters, pensioners and more are being affected by the sharp drop in the pound since the Brexit vote Sterling is testing new lows in foreign exchange markets, with a pound buying just €1.10 and $1.21, or nearly a fifth less than the rate just before the EU referendum ...
Patrick Collinson / Guardian   |   Tue, 11 Oct 2016 17:47:48

Government has 'no plans' for royal yacht for Brexit trade talks

A minister says there are "no plans" to commission a royal yacht to spearhead its post-Brexit trade talks
BBC   |   Tue, 11 Oct 2016 17:35:45

Giscard d'Estaing urges Brexit moderation

Former French president's message contrasts with hardening positions on both sides of Channel
FT   |   Tue, 11 Oct 2016 16:53:53

GBP/USD: BoE not concerned about sterling's volatility - Scotiabank

Analysts at Scotiabank explained that Sterling remains generally soft as investors continue to focus on the risk (and consequences) of a "hard Brexit"
Ross J Burland / FX Street   |   Tue, 11 Oct 2016 16:47:15

Brexit vote sends Gilt trades soaring

The UK's decision to leave the European Union has more than doubled the number of 10-year Gilt trades on the secondary market, according to data from MarketAxxess subsidiary Trax.
IFR   |   Tue, 11 Oct 2016 16:33:00

Brexit: How to avoid a cliffhanger

Most parties accept the need for a 'transitional deal' but there is little agreement on the format
FT   |   Tue, 11 Oct 2016 16:19:39

GBP/USD: bears looking for a break of 1.2200 on "Hard Brexit" fears

GBP/USD is pressured on'The Times' news and leaked controversial forecasts that Osbourn came up with in April earlier this year. The media have used
Ross J Burland / FX Street   |   Tue, 11 Oct 2016 15:52:08

Krugman's Interesting But Maybe Not Entirely Correct Model Of The Pound And Brexit

I'm obviously either feeling very brave or have gone completely off my rocker to try to pick holes in an argument about international trade being made by Paul Krugman. His Nobel was, after all, for this very subject. However, while I'm sure that there's some of this going on I'm ...
Tim Worstall, Contributor / Forbes   |   Tue, 11 Oct 2016 15:42:00

Fujitsu to cut up to 1,800 jobs in UK

Japanese electronics firm Fujitsu has told staff of plans to cut up to 1,800 jobs in the UK, but says it is not linked to Brexit.
BBC   |   Tue, 11 Oct 2016 15:39:31

U.K. Court to decide when Brexit can actually mean Brexit

Brexit means Brexit, Theresa May says, but a London court this week will decide whether it's up to her to decide when the U.K. leaves the European Union
Patrick Gower, Bloomberg News / Financial Post   |   Tue, 11 Oct 2016 15:22:29

UK uni scholarships still open to EU students (2)

Rome, October 11 - EU students, including Italians, applying to British universities in the 2017-2018 academic year will have access to financial aid for the duration of the course in spite of the Brexit, the British government said in a statement released by the UK embassy in Rome on Tuesday. ...
Gazzetta Del Sud   |   Tue, 11 Oct 2016 14:41:00

Larry Summers Says Pound Troubles are Not Over as Brexit Looms

"The decline in the pound is like a fever," according to former Treasury Secretary Larry Summers. "It's a sign of some serious problems that are associated with the Brexit strategy," he told CNBC on Monday evening. The famed American economist's comments follow a torrid start to the month for the ...
OANDA   |   Tue, 11 Oct 2016 14:04:43

No 10 plays down warning of £66bn annual Brexit impact

Theresa May's spokesman says figures in leaked government papers predicting 9.5% fall in GDP are not new Downing Street has warned against attempts to "reheat the arguments" of the EU referendum following claims that the Treasury has issued dire internal warnings about the impact of a hard Brexit. Theresa May's ...
Anushka Asthana and Rowena Mason / Guardian   |   Tue, 11 Oct 2016 13:18:24

$81 Billion Bill for UK in Hard Brexit Scenario

If the U.K. opts to cut all its trade ties with the European Union and go for a "hard" Brexit, it could cost the government £66 billion ($81.1 billion) a year, according to a leaked government paper reported by The Times newspaper. U.K. government ministers have been warned that a ...
OANDA   |   Tue, 11 Oct 2016 12:57:42

Pound's Brexit vote battering continues

Experts see no end to sterling's fall in value against other currencies due to worries over the effects of the UK's vote to leave the European Union.
euronews   |   Tue, 11 Oct 2016 12:38:57

Notes on Brexit and the Pound

A weaker pound is part of the adjustment, and should be accepted.
Paul Krugman - Blog   |   Tue, 11 Oct 2016 12:35:56

Britain's FTSE hits record as pound tanks on Brexit costs

European markets were higher as Asian stocks were mixed.
USA Today   |   Tue, 11 Oct 2016 12:11:41

Russian bank VTB considers leaving London due to Brexit

MOSCOW- Russia's state-owned VTB Bank is making plans to move a major investment banking hub out of London due to Britain's decision to leave the European Union. VTB deputy president Herbert Moos told the Financial Times newspaper that London will cease to be VTB's European investment banking hub, saying "we ...
CNBC   |   Tue, 11 Oct 2016 12:06:00

FTSE 100 soars to record high as pound weakens

Index of leading shares on course to beat its highest close of 7,103 with rapid decline in sterling driving gains The FTSE 100 has hit a fresh record high, bolstered by a continuing slump in the value of the pound, as concerns mount about the UK economy after the Brexit ...
Nick Fletcher / Guardian   |   Tue, 11 Oct 2016 12:03:14

Private Equity Floods Into Central And Eastern Europe Companies

It has been another desperate morning for Sterling on the world's currency exchanges. Now at record lows for more than three decades against the dollar, the UK Brexit vote augurs more woes ahead. The bottom clearly hasn't been reached. The Euro isn't faring much better as the European continent shudders ...
Monty Munford, Contributor / Forbes   |   Tue, 11 Oct 2016 11:57:00

'Hard Brexit' could cost U.K. $81 billion a year

Prime Minister Theresa May will trigger the Brexit process by the end of March 2017.
USA Today   |   Tue, 11 Oct 2016 11:08:55

'Hard Brexit' could cost UK government $81.1 billion a year: Report

If the U.K. opts to cut all its trade ties with the European Union, it could cost the government £66 billion ($81.1 billion) a year.
CNBC   |   Tue, 11 Oct 2016 11:04:00

Gilt yields pass 1% for first time since Brexit vote as sterling slump continues

Benchmark 10-year gilt yields passed 1% yesterday for the first time since June's referendum, as overseas investors continued to shed sterling assets over fears of a 'hard' Brexit.
Professional Pensions   |   Tue, 11 Oct 2016 10:47:53

Is a 'hard' Brexit the easiest?

The government has shown a firm sense that it will seek only the best possible trading terms
FT   |   Tue, 11 Oct 2016 10:45:25

Russia's VTB will adjust London operations depending on how Brexit unfolds

MOSCOW, Oct 11- Russia's second-largest bank VTB is likely to adjust its investment banking activities in London because of Britain's vote to leave the European Union, but the scale of the changes will depend on how Brexit unfolds, it said on Tuesday. The Financial Times reported on Tuesday that the ...
CNBC   |   Tue, 11 Oct 2016 10:38:00

RMB: Mind the fix - Deutsche Bank

Research Team at Deutsche Bank, suggests that it took the moves around Brexit for China to allow a comprehensive break of 6.60 and after resisting for
Sandeep Kanihama / FX Street   |   Tue, 11 Oct 2016 10:08:40

The Lie Behind Claims That Hard Brexit Will Cost £66 Billion A Year In Lost Revenues

The Times has run with a story this morning that "hard" (or as Eamonn Butler prefers to call it, "clean") Brexit will cost the public revenues £66 billion a year. This comes from the Treasury's report done a few months back, before the vote to Leave happened. And it was ...
Tim Worstall, Contributor / Forbes   |   Tue, 11 Oct 2016 09:24:00

Ireland unveils pro-growth 2017 budget, forecasts Brexit hit

DUBLIN (AP) - Ireland has unveiled a 2017 budget that builds on the country's rapid recovery from an international bailout with 1.3 billion euros ($1.45 billion) of spending increases and tax cuts.
Associated Press   |   Tue, 11 Oct 2016 09:19:00

Hard Brexit will cost UK tens of billions a year, ministers are told

Treasury coffers will take a £66 billion (€73bn) annual hit if Britain goes for a so-called hard Brexit, Cabinet ministers have been warned. Leaked government papers suggest leaving the single market and switching to World Trade Organisation (WTO) rules would cause GDP to fall by up to 9.5 per cent ...
Times of Malta   |   Tue, 11 Oct 2016 08:30:00

Times: 'Hard Brexit' could cost £66B a year

Seeking Alpha / Seeking Alpha   |   Tue, 11 Oct 2016 08:10:08

Sterling's decline shows 'serious problems' with Brexit, Larry Summers says

"The decline in the pound is like a fever," according to former Treasury Secretary Larry Summers.
CNBC   |   Tue, 11 Oct 2016 08:03:00

FTSE 100 nears record-high but pound drops below $1.23 as Brexit hard-landing fears rattle City

Telegraph   |   Tue, 11 Oct 2016 07:54:58

Brexit impact over, yields rising, currencies at both ends of risk spectrum fall - AmpGFX

Greg Gibbs, Director at Amplifying Global FX Capital, suggests that the Brexit fear is now close to being fully priced into the GBP, in his view and t
Sandeep Kanihama / FX Street   |   Tue, 11 Oct 2016 07:31:54

Long GBPUSD and short EURGBP - BNPP

Research Team at BNP Paribas, suggests that the focus this week will remain on any Brexit-related political developments which is likely to have impac
Sandeep Kanihama / FX Street   |   Tue, 11 Oct 2016 07:28:06

A major Russian bank is turning its back on London because of Brexit

VTB, Russia's second biggest bank, is moving its European headquarters out of London in response to Brexit, according to a report in the Financial Times. VTB, which is 61% state-owned by the Russian government, is considering a range of European cities to host its EU base. "We did have bigger ...
Business Insider   |   Tue, 11 Oct 2016 07:16:22

Revealed: 'Hard Brexit' will cost Britain £66billion per year

Michael Wilkinson / Telegraph   |   Tue, 11 Oct 2016 07:04:26

Pound under more pressure as City fears cost of hard Brexit - business live

Sterling has dropped through the $1.23 mark, after leaked papers suggest leaving the single market could cost UK £66bn per year in lost taxes 7.57am BST It's looking like another bad morning for sterling, as the British currency continues to weaken in the face of Brexit worries. The pound has ...
Graeme Wearden / Guardian   |   Tue, 11 Oct 2016 07:01:38

A 'Hard Brexit' is going to cost Britain's economy £66 billion a year in lost revenue

Britain's government predicts that a "Hard Brexit" - Britain leaving the European Union without access to the Single Market - will cost the UK £66 billion ($81.2 billion) a year in lost tax revenues. According to "leaked government papers" seen by The Times newspaper, the UK Treasury is warning cabinet ...
Business Insider   |   Tue, 11 Oct 2016 06:23:27

Brexit weekly briefing: pushback against hard exit begins

Business raises concerns about the wisdom of leaving the single market, while MPs from all parties demand a say in negotiations Welcome to the Guardian's weekly Brexit briefing, a summary of developments as Britain moves - ever more purposefully - towards the EU exit. If you'd like to receive it ...
Jon Henley and Jessica Elgot / Guardian   |   Tue, 11 Oct 2016 06:00:40

10 things you need to know before European markets open

Good morning! Here's what you need to know on Tuesday. Russia's VTB bank became the first official banking casualty of Brexit. The bank will relocate its European headquarters to another city, the Financial Times reports. ""We did have bigger plans for the London office, but after Brexit we are scaling ...
Business Insider   |   Tue, 11 Oct 2016 05:53:14

Op-Ed: The Trump follies should make Britons count their Brexit blessings

The apparently diminishing chances of a Trump presidency have put Europe back firmly in the market's crosshairs.
CNBC   |   Tue, 11 Oct 2016 05:16:00

Op-Ed: Brexit holds three silver linings for the rest of Europe

Europe can use this uncertainty as an opportunity and turn the situation to its advantage.
CNBC   |   Tue, 11 Oct 2016 05:13:00

VTB eyes moving HQ after Brexit vote

Russian state-controlled bank is considering Frankfurt, Paris or Vienna for its European hub
FT   |   Tue, 11 Oct 2016 04:31:18

Britain's raucous style will not help Brexit

May is falling into the same traps over Europe as past prime ministers, writes Alan Beattie
FT   |   Tue, 11 Oct 2016 04:00:43

Strategist: USD well-supported, GBP under threat

The worst will be feared about a hard Brexit when it comes to the pound until negotiations actually conclude, says Credit Agricole's David Forrester.
CNBC   |   Tue, 11 Oct 2016 02:46:00

Dollar firm, sterling on the defensive over Brexit impact fears

The dollar firmed in early Asian trading on Tuesday, while recently beleaguered sterling wallowed close to recent lows.
CNBC   |   Tue, 11 Oct 2016 00:50:00

'Hard Brexit': UK could shed 9.5% of GDP & lose 66 billion pounds per year

Reuters report cites The Times article which says a leaked British government paper sees a 9.5% drop in UK GDP if the nation leaves the EU. The UK co
Omkar Godbole / FX Street   |   Tue, 11 Oct 2016 00:09:19

Hard Brexit will cost Treasury up to £66bn a year, ministers are told

Leaked papers suggest leaving EU single market will cause between 5.4% and 9.5% slump in GDP, with massive loss of tax revenue Treasury coffers may take a £66bn annual hit if Britain goes for a hard Brexit, cabinet ministers have been warned. Leaked government papers suggest that leaving the single ...
Press Association / Guardian   |   Mon, 10 Oct 2016 23:29:59

Retailers warn on weak pound and blows to consumer confidence

Higher import costs will boost shop prices while Brexit talks create climate of uncertainty, says British Retail Consortium Retailers have warned of challenging times ahead as the weak pound ramps up their import costs and consumer confidence is buffeted by a climate of economic uncertainty as the UK embarks on ...
Katie Allen / Guardian   |   Mon, 10 Oct 2016 23:01:31

Turkey risks missing historic EU opportunity

"Brexit means more Germanification of the European Union, and you know that this is not good for us," a Spanish participant told an Italian participant at a two-day conference I attended last week. One Dutch participant, on the other hand, underlined the lack of French leadership within the EU as ...
Hurriyet   |   Mon, 10 Oct 2016 22:01:00

David Davis brushes off Brexit warnings

Minister appears to signal Britain will leave the single market
FT   |   Mon, 10 Oct 2016 21:51:18

David Davis brushes off Brexit warnings

Minister appears to signal Britain will leave the single market
FT   |   Mon, 10 Oct 2016 19:46:49

JCB to leave CBI 'over Brexit stance'

The construction firm JCB has left the business lobby group, the CBI, reportedly because of its anti-Brexit stance.
BBC   |   Mon, 10 Oct 2016 19:33:00

Ireland and UK try to avoid 'hard' border

Post-Brexit suggestion to let Irish ports become proxy British posts
FT   |   Mon, 10 Oct 2016 19:14:55

JCB pulls out of Confederation of British Industry in Brexit row

Construction equipment maker's chairman opposed business group's lobbying to remain in EU during referendum campaign JCB, one of the UK's biggest manufacturers, has decided to leave the Confederation of British Industry (CBI) over the business lobby group's anti-Brexit stance. The maker of construction equipment, which exports to 150 countries, is ...
Katie Allen / Guardian   |   Mon, 10 Oct 2016 19:01:23

Brexit price-rise warning to shoppers

Retailers are warning that failing to strike a good Brexit deal in 2019 will push up prices in the shops.
BBC   |   Mon, 10 Oct 2016 18:50:19

Fall in sterling is a welcome change, says Mervyn King

Former Bank of England governor comments on the pound's sharp moves since the Brexit vote in June The collapse in the value of the pound since Britain voted to leave the EU has been described by Mervyn King, former governor of the Bank of England, as a welcome change. Lord ...
Jill Treanor / Guardian   |   Mon, 10 Oct 2016 18:47:07

Manufacturing giant JCB ends CBI membership over anti-Brexit stance

Telegraph   |   Mon, 10 Oct 2016 18:22:16

France helps banks consider moving to Paris after Brexit vote

Michel Sapin, French finance minister, says after UK's vote to leave EU banks are being informed about Paris as a financial centre France is helping banks and financial institutions consider moving from London to Paris after Britain's vote to leave the European Union, the French finance minister has said. The ...
Reuters in Luxembourg / Guardian   |   Mon, 10 Oct 2016 16:50:21

Knight Frank profits hit by Brexit vote

Earnings slide 4.7% at London-based estate agency despite record turnover
FT   |   Mon, 10 Oct 2016 15:52:19

WSJ City's Brexit Briefing: May Looks for EU Allies, New UK Vision Sparks Old Fears, Speculating on Sterling's Slide

Good afternoon from London. Here's essential reading for the City on today's Brexit developments from WSJ City. For updates throughout the day, you can download WSJ City for iPhone here or Android here. You'll need to open this email on your mobile device to do this. And you can sign ...
MoneyBeat   |   Mon, 10 Oct 2016 15:49:36

UK Brexit Minister Davis: We'll reject any attempt to delay the referendum result on EU membership

Speaking in the UK Parliament, Brexit Minister David Davis said that he'll reject any attempt to undo or delay referendum result and reiterates that...
Felipe Erazo / FX Street   |   Mon, 10 Oct 2016 15:41:18

Pound continues to fall against dollar and euro amid 'hard Brexit' fears

Sterling falls 0.6% to $1.2360 and 0.2% to €1.1082 as City's worries persist about UK's economic prospects outside EU The pound continued to fall against the US dollar and the euro on Monday as worries persisted over the UK's economic prospects outside the EU. Sterling suffered sharp losses last week ...
Katie Allen / Guardian   |   Mon, 10 Oct 2016 15:23:08

Why big business is freaking out about Brexit

Big business has warned the British government that it must change its approach to exit negotiations with the European Union or risk serious damage to the economy.
CNN   |   Mon, 10 Oct 2016 14:59:06

Pound remains under pressure

'Hard Brexit' talk rattles currency markets with sterling seen as staying vulnerable
FT   |   Mon, 10 Oct 2016 14:55:35

Why big business is freaking out about Brexit

Big business has warned the British government that it must change its approach to exit negotiations with the European Union or risk serious damage to the economy.
CNN   |   Mon, 10 Oct 2016 14:02:11

Brexit Bites into UK Firms' Hiring and Capex Plans

British businesses continue to be plagued by fears of what shape the U.K. economy will take after it has quit the European Union, according to two polls released Monday, which confirm uncertainty is still hampering activity and sentiment. A survey from the British Chamber of Commerce (BCC) which aggregates the ...
OANDA   |   Mon, 10 Oct 2016 13:34:28

Pound Foolish?: Britain’s Economy Was Resilient After Its Leaders Learned the Wrong Lesson.

The pound is falling, and the confidence that had built up that Britain would not shut itself off from Europe is starting to dissipate.
DealBook   |   Mon, 10 Oct 2016 13:16:54

Pound Foolish?: Britain’s Economy Was Resilient After Its Leaders Learned the Wrong Lesson.

The pound is falling, and the confidence that had built up that Britain would not shut itself off from Europe is starting to dissipate.
NEIL IRWIN / NY Times   |   Mon, 10 Oct 2016 13:16:53

Brexit means Brexit, not an end to parliamentary democracy. MPs must vote on how we leave

James Kirkup / Telegraph   |   Mon, 10 Oct 2016 12:56:16

Banks may be considering leaving London in favor of other European

Banks such as Goldman Sachs, JP Morgan and Morgan Stanley may conduct business elsewhere in Europe due to the Brexit.
CNBC   |   Mon, 10 Oct 2016 12:45:00

Brexit vote fears hit UK business sentiment

The latest UK business surveys seem to show the economy losing steam with company bosses lacking confidence about investment and hiring workers.
euronews   |   Mon, 10 Oct 2016 12:38:41

No MPs' vote on Brexit terms, says May

MPs will not get a vote on the way Brexit is handled, the government says, describing the idea as
BBC   |   Mon, 10 Oct 2016 12:23:06

Parliament should be central to Brexit, not marginal

FT   |   Mon, 10 Oct 2016 12:20:36

Pound hovers around $1.240 as businesses fear 'hard Brexit' - as it happened

All the day's economic and financial news, as sterling comes under fresh pressure Pound down in early trading Speculators take record short positions Analyst: pound faces 'perfect storm' Nobel prize for economics awarded 1.17pm BST Right, time for a break after this morning's double-dose of live blog action. We'll be ...
Graeme Wearden / Guardian   |   Mon, 10 Oct 2016 12:17:00

Brexit bites into UK firms' hiring and capex plans

British businesses still fear for the U.K. economy after it quits the European Union, according to two polls released Monday.
CNBC   |   Mon, 10 Oct 2016 11:16:00

New Vision for U.K. Kicks Up Old Brexit Fears

Last week's sterling flash crash was over in minutes, but the perception of instability that hangs over the U.K. may be harder to dispel, Simon Nixon writes.
WSJ   |   Mon, 10 Oct 2016 10:38:22

UK Brexit minister will make a statement to parliament later today - MNI

MNI reports headlines that cross via Twitter, which cites that the UK Brexit minister David Davies will make a statement on Brexit to the House of Com
Dhwani Mehta / FX Street   |   Mon, 10 Oct 2016 09:23:10

Multiple reasons behind gilt sell off: Analyst

Bryn Jones, head of fixed income at Rathbones, discusses potential reasons behind the U.K. gilt sell-off, citing the drop in sterling and hard Brexit fears, among others.
CNBC   |   Mon, 10 Oct 2016 09:22:00

The Brexit Conundrum - Freedom Of Movement Means Only Hard, Or Clean, Brexit Is Possible

The negotiating lines from the Continent are becoming much clearer. The essential statement is that membership of, or any form of privileged access to, the Single Market will require that Britain accept full freedom of movement for all European Union citizens. Given that this is the one thing which swung ...
Tim Worstall, Contributor / Forbes   |   Mon, 10 Oct 2016 08:56:00

YouGov near doubles pre-tax profit and brushes off Brexit worries

YouGov plc (LON:YOU) continues its journey to become a global data business as it posted a near doubling of adjusted pre-tax profit in the year to end July as it brushed off current fears on Brexit. This was aided by a strong performance from its data and services divisions, with ...
Proactive Investors   |   Mon, 10 Oct 2016 07:43:00

Retailers warn government of Brexit price rises

The British Retail Consortium has followed other business leaders warning that using World Trade Organisation rules will mean higher prices in the shops.
BBC   |   Mon, 10 Oct 2016 07:42:08

Pound falls below $1.240 as businesses fear 'hard Brexit' - business live

All the day's economic and financial news, as sterling comes under fresh pressure 7.50am BST Sterling is coming under fresh pressure this morning after UK business chiefs warned against crashing out of the single markets. The pound has dropped by over half a cent to $1.237, back towards the levels ...
Graeme Wearden / Guardian   |   Mon, 10 Oct 2016 06:50:56

Brexit News Archive: 11 Oct 2016     |     enquire