Brexit News Archive: 25 Nov 2016

Irish PM says Brexit 'impossible' within two years

Enda Kenny calls for extended transition period
FT   |   Fri, 25 Nov 2016 21:02:37

How Brexit may affect Canadian businesses' dealings with Ireland

With the British pound taking a hit, currency considerations come into play - both the pound and the euro
DAVID ISRAELSON / Globe and Mail   |   Fri, 25 Nov 2016 19:24:18

Iain Duncan Smith accuses Sir John Major over new Brexit vote bid

Iain Duncan Smith criticises Sir John Major for suggesting a second referendum over Brexit.
BBC   |   Fri, 25 Nov 2016 17:10:55

Reality Check: Will there be a £32bn Brexit dividend?

Change Britain says there will be a £32bn Brexit dividend in the three years after the UK leaves the EU in 2019.
BBC   |   Fri, 25 Nov 2016 16:05:27

Talks on Final Brexit Deal Will Have to Wait

Prime Minister Theresa May will not be able to begin talks on a final Brexit deal until the U.K. has agreed how much money it will pay to leave the European Union and resolved border issues, Maltese Premier Joseph Muscat said. The 27 remaining members of the EU are taking ...
OANDA   |   Fri, 25 Nov 2016 14:45:31

Brexit risks credibility, firepower and relevance of the European Investment Bank: Analyst

Britain's vote to leave the EU could significantly reduce the relevance of the EIB, an analyst told CNBC.
CNBC   |   Fri, 25 Nov 2016 13:46:00

UK government has lowered output path in the wake of Brexit - ANZ

Research Team at ANZ, notes that the UK Chancellor Philip Hammond delivered the Autumn Statement providing the first post-Brexit update on fiscal poli
Sandeep Kanihama / FX Street   |   Fri, 25 Nov 2016 13:21:11

UPDATE 1-Jaguar Land Rover wants to build electric cars in Britain

LONDON, Nov 25 (Reuters) - Britain's biggest carmarker Jaguar Land Rover said it wants to build electric cars in Britain in what would be a further boost to the UK automotive sector after the Brexit...
Reuters   |   Fri, 25 Nov 2016 13:17:14

Post-Brexit budget forces people to live within their means: analyst

Analysts have warned UK workers are about to face the biggest squeeze on wages in 70 years.
CNBC   |   Fri, 25 Nov 2016 12:43:00

UK growth remains firm despite Brexit vote

A new survey suggests Britain's economic optimism is holding steady in the wake of the Brexit vote.
euronews   |   Fri, 25 Nov 2016 12:28:30

Business secretary says electric vehicles at heart of industrial strategy

Greg Clark signals post-Brexit policy as Jaguar Land Rover confirms it plans to create 10,000 jobs in the UK Greg Clark, the business, energy and industrial strategy secretary, has said making Britain a world-leading hub for next-generation electric vehicles will be at the heart of the government's new industrial strategy, ...
Guardian Staff / Guardian   |   Fri, 25 Nov 2016 12:23:26

10 things you need to know before the opening bell (TGT, AMZN, UTX)

Happy Thanksgiving. Here's what you need to know: UK GDP growth came in at 0.5% in the third quarter, as expected, according to a second estimate. This shows that the economy was steady amid concerns about the fallout from Brexit. On a year-on-year basis, GDP growth was 2.3%, in line ...
Business Insider   |   Fri, 25 Nov 2016 12:03:20

UK GDP Grows 0.5% In Third Quarter - What Brexit Effect?

We were told, before we voted on it, that if we had the temerity to think about leaving the European Union then Britain would be plunged into an immediate recession. There would have to be tax rises and spending cuts, immediate ones, to deal with the disaster. Since we did ...
Tim Worstall, Contributor / Forbes   |   Fri, 25 Nov 2016 11:41:00

GDP growth confirmed in three months after Brexit vote

ONS says consumers kept spending and business investment beats forecasts, defying predictions of slowdown British businesses continued to invest and consumers carried on spending in the months following the Brexit vote, defying predictions that a wave of uncertainty would hit economic activity. In the first official estimate of how firms' ...
Katie Allen / Guardian   |   Fri, 25 Nov 2016 11:21:29

What geopolitical shocks are in store next year?

This year has delivered several political shocks for UK schemes in the form of Brexit and the outcome of the US general election. However, as Europe gears up for a round of elections next year Helen Morrissey asks what schemes need to watch out for.
Professional Pensions   |   Fri, 25 Nov 2016 11:20:00

Britain won't know its final Brexit fate until the very last minute

The European Union is set to prioritise issues like payments it is owed and border controls over negotiating a "final deal" with the UK when Brexit talks get underway. Michel Barnier, the European Commission's top Brexit negotiator, told Sky news that negotiations with Theresa May's government will be split into ...
Business Insider   |   Fri, 25 Nov 2016 10:54:00

Business investment boosts GDP growth after Brexit vote

Expansion beats forecasts though most decisions taken before EU referendum
FT   |   Fri, 25 Nov 2016 10:30:46

UK could face recession in case of 'hard Brexit' - Allianz's El-Erian

Mohamed El-Erian, Chief Economic Adviser at Allianz, suggested that the UK could slip back into recession if a 'hard Brexit' case materializes, adding
Pablo Piovano / FX Street   |   Fri, 25 Nov 2016 08:32:23

EU gets tough: Bloc tells UK Brexit is lose-lose situation

LONDON (AP) - Since Britain voted to leave the European Union, U.K. officials have had one message: Brexit means Brexit.
Associated Press   |   Fri, 25 Nov 2016 08:18:00

'There is absolutely no bluffing' that EU leaders will push for a hard Brexit

LONDON - The European Union is not when it says it will push Britain into a "hard Brexit" - stripping the UK's membership of the 27-nation single market - if Prime Minister Theresa insists in opting out of freedom of movement, says the prime minister of Malta. Joseph Muscat told ...
Business Insider   |   Fri, 25 Nov 2016 07:40:26

EU leaders 'not bluffing' over Brexit terms, warns Malta's PM

EU leaders are not over their demand for free movement of people after Brexit, Malta's PM tells the BBC.
BBC   |   Fri, 25 Nov 2016 06:08:16

EU gets tough: Malta's PM says Brexit is lose-lose situation

LONDON (AP) - The leader of Malta, whose country is about to assume presidency of the European Union, says Britain's exit from the bloc will see both sides lose out.
Associated Press   |   Fri, 25 Nov 2016 05:40:00

Ex-UK PM Blair: It's not too late to stop Brexit - AFR

In an interview with the New Statesman magazine, published by the Australian Financial Review (AFR) today, former UK's Prime Minister Tony Blair noted
Dhwani Mehta / FX Street   |   Fri, 25 Nov 2016 04:51:45

Ben Wright: Steering Britain out of the EU

Could the passion for cars shared by Brexit Secretary David Davis and EU Brexit negotiators give the UK a smooth exit from the EU?
BBC   |   Fri, 25 Nov 2016 03:46:10

Tory files lay out 'devastating effect' of Brexit

Geoffrey Howe's papers from 1981 echo today's talks about relationship with EU
FT   |   Fri, 25 Nov 2016 00:02:00

'Mr Brexit' Nigel Farage to cash in on lucrative coast-to-coast new year speaking tour in 20 American cities

Christopher Hope / Telegraph   |   Thu, 24 Nov 2016 21:30:00

Brexiteers will trash anyone who gets in their way | Martin Kettle

The attack on the Office for Budget Responsibility reveals where power now lies. Leavers are the masters, and will flex their muscles at will The Office for Budget Responsibility shines like a good deed in a naughty world. It was created as an independent statutory body in 2010 to promote ...
Martin Kettle / Guardian   |   Thu, 24 Nov 2016 19:51:43

Why is UK's productivity still behind that of other major economies?

Dismal trade, growth of low-level service jobs with low-level pay, and a chronic lack of investment only partly explain the gap Extra funds for new roads, research and development and skills training will drive up UK productivity and put the economy in a better position to withstand the looming Brexit ...
Phillip Inman Economics correspondent / Guardian   |   Thu, 24 Nov 2016 19:27:07

Countrywide warns over profits amid housing slowdown

Estate agency says stamp duty changes and uncertainty after Brexit vote are leading to fewer sales, particularly in London Shares in the UK's biggest chain of estate agents slumped by more than 12% after the company reported a big drop in London property transactions and warned that Brexit was undermining ...
Angela Monaghan / Guardian   |   Thu, 24 Nov 2016 18:02:00

Pet retailing: through the woof

Pampering for Fido and Tiddles in the UK appears recession, and Brexit, proof
FT   |   Thu, 24 Nov 2016 17:24:11

IFS says workers face 'dreadful' decade without real-terms increase in wages - Politics live

Rolling coverage of all the day's political developments as they happen, including reaction to the autumn statement and the IFS press conference Philip Hammond's morning interviews - Summary John McDonnell's morning interviews - Summary IFS warns of biggest squeeze on incomes for 70 years after Brexit Afternoon summary 5.08pm GMT ...
Andrew Sparrow / Guardian   |   Thu, 24 Nov 2016 17:08:42

Fitch: Autumn statement shows fiscal challenge of Brexit vote - business live

All the day's economic and financial news, as new GDP data shows that German exports fell in the last quarter Fitch: Autumn Statement Highlights UK's Fiscal Challenge IFS says UK faces biggest pay squeeze in 70 years Earlier: German business optimism dips German growth fell to 0.2% in Q3 Euro ...
Graeme Wearden / Guardian   |   Thu, 24 Nov 2016 16:56:11

How much will Brexit cost?

The Office for Budget Responsibility says the vote to leave the EU will add £58.7bn to government borrowing by 2020-21. Is that too gloomy?
BBC   |   Thu, 24 Nov 2016 16:20:43

Autumn Statement: Hammond defends post-Brexit economy forecasts

The chancellor says forecasts dubbed too negative by pro-Brexit MPs are "one of a range of outcomes".
BBC   |   Thu, 24 Nov 2016 16:19:52

ECB Warns of Political Risks to Financial Stability

Political uncertainty is putting the eurozone's financial stability at risk, according to the European Central Bank. The Brexit referendum and the US election both ratcheted up what it calls its "composite indicator of systemic stress". It says the 19 countries that use the euro could be hit by trade wars, ...
OANDA   |   Thu, 24 Nov 2016 15:34:22

Chaotic careers education harms economy, says Ofsted

Chaotic careers education in England's schools could jeopardise post-Brexit prosperity, says Ofsted.
BBC   |   Thu, 24 Nov 2016 15:28:00

Tony Blair says Brexit can be stopped

The former prime minister says that Britain's departure from the European Union is not etched in stone.
CNN   |   Thu, 24 Nov 2016 14:05:16

IFS warns of biggest squeeze on pay for 70 years

Respected thinktank says Brexit blow to the economy will peg back wages to below their 2008 level in 2021 Workers in Britain face the biggest squeeze on their pay for 70 years as a Brexit blow to the economy knocks wage growth and stokes inflation, according to an analysis of ...
Katie Allen / Guardian   |   Thu, 24 Nov 2016 13:26:14

Euro zone faces tense times in the wake of Brexit and Trump warns ECB

ECB fears for the euro zone
euronews   |   Thu, 24 Nov 2016 13:03:20

Cost of Brexit, white-collar crime and Schulz steps down

Government defends £60bn cost of Brexit against critics
FT   |   Thu, 24 Nov 2016 12:42:51

What will an extra £4.7 billion do for UK science and innovation?

An unexpected autumn statement windfall for research, innovation and industrial strategy has given scientists their first bit of cheer for a while The research community hasn't had much to smile about in recent months. Faced with the grinding uncertainties of Brexit, concerns over university finances, and a root-and-branch reorganisation of ...
James Wilsdon, Kieron Flanagan and Stian Westlake / Guardian   |   Thu, 24 Nov 2016 12:42:08

GBP: Impact of Brexit is likely to see uncertainty return - Westpac

Tim Riddell, Research Analyst at Westpac, suggests that the blow out in UK's budget deficits may have been sweetened by the infrastructure investment
Sandeep Kanihama / FX Street   |   Thu, 24 Nov 2016 12:25:03

Countrywide shares bulldozed as it expects fewer house sales

Shares in estate agent Countrywide plc (LON:CWD) were bulldozed 12% to 170.5p as it posted the second profit warning of the year, saying transactions would be hit due to the Brexit vote and changes in the government's stamp duty. Today's slump comes on top of a 5% drop on Wednesday ...
Proactive Investors   |   Thu, 24 Nov 2016 12:21:00

Countrywide shares bulldozed as it expects less house sales

Shares in estate agent Countrywide plc (LON:CWD) were bulldozed 12% to 170.5p as it posted the second profit warning of the year, saying transactions would be hit due to the Brexit vote and changes in the government's stamp duty. Today's slump comes on top of a 5% drop on Wednesday ...
Proactive Investors   |   Thu, 24 Nov 2016 11:37:00

UK sees rise in Neets: those not in education, employment or training

Increase to 11.9% of people aged 16-24 follows years of decline and fans fears that Brexit uncertainty will weaken jobs market There has been a rise in the number of young people in the UK who are not in education, employment or training, known as Neets. Official figures show an ...
Katie Allen / Guardian   |   Thu, 24 Nov 2016 11:33:18

UK living standards squeeze 'will be worse than after global crash'

Thinktank says low-paid will be hardest hit in next five years as inflation and welfare cuts compound slow earnings growth Families face a worse squeeze on their living standards over the next five years than they suffered in the wake of the financial crisis, as Brexit slows the economy, and ...
Heather Stewart and Jessica Elgot / Guardian   |   Thu, 24 Nov 2016 10:30:13

Countrywide shares fall after profit downgrade

UK estate agent warns that uncertainty over Brexit has hit house sales
FT   |   Thu, 24 Nov 2016 09:42:40

Philip Hammond defends 'doom and gloom' Brexit forecast

Eurosceptics dismiss OBR prediction of £59bn black hole which informed chancellor's cautious autumn statement Philip Hammond has said the government cannot ignore the £59bn black hole in the public finances directly related to Brexit, as pro-leave Tories criticised the economic forecast as overly pessimistic. Speaking after his first autumn statement, ...
Jessica Elgot Political reporter / Guardian   |   Thu, 24 Nov 2016 09:38:25

UK's Hammond: Economy faces many uncertainties not just Brexit - BBC

In an interview with BBC, the UK Chancellor Hammond, noted that the UK economy faces many uncertainties, not just Brexit-related. He added that the U
Dhwani Mehta / FX Street   |   Thu, 24 Nov 2016 09:15:41

Nigel Farage warns of 'seismic shock' if Brexit not delivered

"Another big seismic shock" could hit British politics at the next election, Nigel Farage warns.
BBC   |   Thu, 24 Nov 2016 09:02:55

Hammond admits forecasts of Brexit impact 'highly uncertain'

Tory Eurosceptics claim Autumn Statement based on 'worthless assumptions'
FT   |   Thu, 24 Nov 2016 09:02:09

Countrywide warns over profits amid housing slowdown

Estate agency says stamp duty changes and uncertainty after Brexit vote are leading to fewer sales, particularly in London UK estate agent Countrywide said changes to stamp duty and uncertainty following the Brexit vote meant transactions were significantly lower than last year and were likely to fall further in 2017. ...
Angela Monaghan / Guardian   |   Thu, 24 Nov 2016 08:56:50

Brexit uncertainty will hold UK GDP growth back, says OBR

Weaker business spending and a squeeze on consumers from higher inflation will dent the UK economy next year, but warnings for a post-referendum recession should prove unfounded, according to the government's independent forecasters.
Here Is The City   |   Thu, 24 Nov 2016 08:17:28

Ministers defend OBR after pro-Brexit Tories accuse it of scaremongering - Politics live

Rolling coverage of all the day's political developments as they happen, including reaction to the autumn statement and the IFS press conference 8.12am GMT Nick Robinson is interviewing Philip Hammond. Q: Is it time to apologise for saying you would tackle the deficit when you haven't? 8.10am GMT As usual, ...
Andrew Sparrow / Guardian   |   Thu, 24 Nov 2016 08:12:54

Chancellor's looser finance targets highlight weaker UK economy

City analysts say Philip Hammond's measures are sensible as Britain faces challenging years of Brexit negotiations There was a veneer of discipline in the chancellor's handling of the UK's public finances, after he ditched his predecessor's strict target of balancing the budget in 2020 with three looser targets to be ...
Phillip Inman Economics correspondent / Guardian   |   Thu, 24 Nov 2016 08:00:28

Hammond knows Britain's regional imbalance is risky. Why didn't he fix it? | Simon Jenkins

In the 2016 autumn statement the cities of the north have lost out, and all the spoils have gone to London and the south-east - again The chancellor, Philip Hammond, is Theresa May's chauffeur. It must be a ghastly job. He has to drive the economy towards Brexit, with no ...
Simon Jenkins / Guardian   |   Thu, 24 Nov 2016 06:00:25

The spin about post-truth

Why do good people suffer while evil flourishes like the old bay tree? This ancient question has reappeared with renewed force in our post-Brexit, Trump world. Only this time it's vexing professionals who pride themselves on their superior knowledge and enlightenment but who find their expertise scorned (by their intellectual ...
Ranier Fsadni / Times of Malta   |   Thu, 24 Nov 2016 05:39:02

Brexit News Archive: 25 Nov 2016     |     enquire