Brexit News Archive: 28 Nov 2016

Brexit notes photograph played down by government

The government distances itself from notes on Brexit caught on camera in Westminster.
BBC   |   Mon, 28 Nov 2016 21:43:21

Memo offers snapshot of behind-scenes Brexit thinking

Aide's 'have cake and eat it' notes photographed in Downing Street
FT   |   Mon, 28 Nov 2016 19:54:06

Brexit & Beyond: Fillon Wins Primary in France, Berlin Braces for Trump on Trade, An Investment Bankers' Guide

Brexit & Beyond: Europe in Flux is The Wall Street Journal's round-up of news and analysis of how Brexit will affect global business, economies and finance. You can sign up here. MUST READS Former French Prime Minister Francois Fillon leaves after casting his vote in the 'Les Republicains' primaries in ...
MoneyBeat   |   Mon, 28 Nov 2016 19:15:49

ECB's Mario Draghi urges UK to disclose Brexit plans

President of European Central Bank says Britain should address uncertainty over how withdrawal from EU will play out Mario Draghi, the president of the European Central Bank, has urged the UK government to disclose more information about its plans to leave the European Union. The eurozone's top central banker told ...
Graeme Wearden / Guardian   |   Mon, 28 Nov 2016 18:05:12

'Xenophobia' is the word of the year for 2016, says Dictionary.com

Dictionary.com has selected as the 2016 word of the year, citing the anti-immigrant rhetoric of U.S. President-elect Donald Trump and the United Kingdom's Brexit vote to leave the European Union as reasons for its choice. In a news release, the online dictionary said that searches...
Money & Company   |   Mon, 28 Nov 2016 17:25:00

The legal path to Brexit just got even messier

The latest effort to soften the impact of Brexit focuses on whether the U.K. could remain part of Europe's internal market even after leaving the EU.
CNN   |   Mon, 28 Nov 2016 17:07:55

'Xenophobia' Is Dictionary.com's Word Of The Year

There were a lot of surprises to come out of 2016, but being named Dictionary.com's Word of the Year is not one of them. When you consider the rhetoric that galvanized people in this year's Brexit vote and the U.S. presidential race, the proof that is the word that most ...
Huffington Post   |   Mon, 28 Nov 2016 16:12:32

Brexit will be tougher for UK than for eurozone, warns Draghi

ECB chief calls for clarity over negotiation process that will govern UK departure
FT   |   Mon, 28 Nov 2016 15:55:57

The ECB will assess options in December - ECB's M.Draghi

More on President Mario Draghi at his testimony before Parliament: Draghi emphasized that remains very difficult to assess a final impact of Brexit.
Pablo Piovano / FX Street   |   Mon, 28 Nov 2016 14:56:51

The region remained resilient in 2016 - ECB's M.Draghi

At his first testimony today before the European Parliament on the region's economic outlook and prospects after the Brexit vote, President Mario Drag
Pablo Piovano / FX Street   |   Mon, 28 Nov 2016 14:08:26

Banks, Brexit weighing on Italy consumption says OECD

(see related)Paris, November 28 - The Organization for Economic Cooperation and Development (OECD) said Monday Italy's economy is likely to slow down in the next two years, for a number of reasons. "Uncertainty related to the banking sector and the Brexit effect will weigh on private consumption gro
Gazzetta Del Sud   |   Mon, 28 Nov 2016 14:08:00

UKIP names new leader to replace Trump ally Farage

Britain's anti-EU party UKIP elected former history lecturer Paul Nuttall as its new leader on Monday to take over from Brexit firebrand Nigel Farage, a political ally of US President-elect Donald Trump. It is UKIP that is seen as the leading eurosceptic group across the entire continent Nigel Farage Nuttall ...
Agence France-Presse / South China Morning Post   |   Mon, 28 Nov 2016 13:54:55

Scepticism about a Brexit apocalypse looks increasingly justified

The IMF and the OECD's predictions of economic gloom may have gone awry but that doesn't mean a downturn isn't coming In the months leading up to the EU referendum in June, George Osborne had two people he could always rely on to back the argument that Brexit would have ...
Larry Elliott / Guardian   |   Mon, 28 Nov 2016 13:48:59

Only events can shift the Brexit debate

An intervention now by Tony Blair might be counterproductive
FT   |   Mon, 28 Nov 2016 13:09:49

Oxfordshire nuclear waste is Brexit talks flashpoint

Uncertainty over who will pay an estimated £289m to decommission EU-owned project
FT   |   Mon, 28 Nov 2016 12:33:31

Hans-Werner Sinn: "Europe's Secret Bailout"

From Project Syndicate: MUNICH - While the world worries about Donald Trump, Brexit, and the flow of refugees from Syria and other war-torn countries, the European Central Bank continues to work persistently and below the public radar on its debt-restructuring plan - also known as quantitative easing (QE) - to ...
Climateer Investing   |   Mon, 28 Nov 2016 12:16:00

Europe's Secret Bailout

While the world worries about Donald Trump, Brexit, and refugees, the European Central Bank continues to work below the public radar on its debt-restructuring plan - also known as quantitative easing - to ease the burden on the over-indebted eurozone countries. It's a high-risk operation, especially for Germany and the ...
Project Syndicate   |   Mon, 28 Nov 2016 11:53:56

JD Sports bets on Brexit staycations with Go Outdoors takeover

Telegraph   |   Mon, 28 Nov 2016 10:30:56

U.K. faces another Brexit legal fight over single market: report

The British government could face a legal challenge over whether leaving the European Union automatically would trigger a departure from the single market, the BBC reported Monday. The pro-EU think tank British Influence will tell Brexit Secretary David Davis that it will seek a judicial review to give parliament a ...
Japan Times   |   Mon, 28 Nov 2016 09:48:55

Theresa May and Polish PM discuss Russia and Brexit

Theresa May and the Polish PM hold talks on military co-operation amid concerns over Russia.
BBC   |   Mon, 28 Nov 2016 09:38:01

The New Brexit Headache - After Article 50 Comes Article 127

Theresa May appears to have a new headache over Brexit as some are arguing that invoking Article 50 does not in fact take Britain out of the European Economic Area and thus out of the Single Market. To do that it is necessary to invoke Article 127, meaning that there ...
Tim Worstall, Contributor / Forbes   |   Mon, 28 Nov 2016 09:20:00

Christmas pudding pricier after Brexit hits pound

Imported food ingredients more expensive after sharp fall in sterling
FT   |   Mon, 28 Nov 2016 08:09:50

Theresa May faces Brexit legal challenge over single market withdrawal

Laura Hughes / Telegraph   |   Mon, 28 Nov 2016 07:56:29

10 things you need to know in markets today

Good morning! Here's what you need to know in markets on Monday. Prime Minister Theresa May has admitted that negotiating a successful Brexit is proving to be "hugely challenging." In a rare interview with The Sunday Times, May also acknowledged the government needed to organise terms for exiting the EU, ...
Business Insider   |   Mon, 28 Nov 2016 07:01:12

Brexit and Trump won't torpedo Asian cooperation

Despite growing anti-globalisation sentiment reflected in the Brexit vote, and Donald Trump's vow to pull the US out of the Trans-Pacific Partnership (TPP) the moment he assumes the presidency, Asia Pacific countries are pressing ahead with many other regional plans.
Bangkok Post   |   Mon, 28 Nov 2016 06:30:00

Think tank plans legal action to keep UK in EU single market

LONDON (AP) - A pro-Europe think tank says it is willing to take the British government to court to try and keep the U.K. in the European Union single market once it leaves the bloc.
Associated Press   |   Mon, 28 Nov 2016 06:11:00

Jaguar Land Rover wants to make electric cars in Brexit U.K.

Jaguar Land Rover Ltd. said it intends to build electric cars in the U.K. if the government can overcome shortfalls in available energy and infrastructure investment, potentially giving Britain a manufacturing boost as it leaves the European Union. Jaguar Land Rover's expression of interest in building electric cars in the ...
Alex Morales / Japan Times   |   Mon, 28 Nov 2016 06:06:10

Hard Brexit would damage 'almost every sector' of UK economy

Leaving the single market would be damaging to almost every sector of the British economy from manufacturing and energy to retail and financial services, according to a new report commissioned by an alliance of Tory, Labour and Liberal Democrat politicians trying to stop a hard Brexit.
Here Is The City   |   Mon, 28 Nov 2016 05:50:20

Executive pay under unprecedented scrutiny - IoD chief

The boss of the Institute of Directors will on Monday warn top bosses that the vote for Brexit and the election of Donald Trump will result in greater scrutiny of boardroom behaviour and executive pay.
Here Is The City   |   Mon, 28 Nov 2016 05:43:25

Bank of England prepares to protect City firms from hard Brexit

The Bank of England is pushing ahead with plans for transitional arrangements after Brexit negotiations in an attempt to protect financial institutions from a cliff edge deal that could undermine their stability.
Here Is The City   |   Mon, 28 Nov 2016 05:40:37

Irish politicians find common cause over Brexit

Question remains whether island's leaders can face down common challenges together
FT   |   Mon, 28 Nov 2016 05:35:02

May seeks to charm Poles ahead of Brexit talks

Pressure grows to guarantee status of 'valuable' migrant workers
FT   |   Mon, 28 Nov 2016 05:32:59

UK identifies its Brexit negotiating strengths

The UK has leverage - the question is how to use it and whether it is enough
FT   |   Mon, 28 Nov 2016 05:32:55

Brexit: Legal battle over UK's single market membership

The government faces a legal battle over whether the UK stays inside the single market after Brexit.
BBC   |   Mon, 28 Nov 2016 05:03:42

Brexit EU trade deals 'should not cherry pick' different sectors

"Cherry picking" certain industries for EU trade deals could also create "losers", campaigners warn.
BBC   |   Mon, 28 Nov 2016 02:02:51

Executive pay under unprecedented scrutiny - IoD chief

Votes for Brexit and Donald Trump mean board-level pay deals are being scrutinised as never before, Simon Walker set to say The boss of the Institute of Directors will on Monday warn top bosses that the vote for Brexit and the election of Donald Trump will result in greater scrutiny ...
Jill Treanor City editor / Guardian   |   Mon, 28 Nov 2016 00:01:14

Bank of England prepares to protect City firms from hard Brexit

Governor Mark Carney begins work on transitional arrangements to maintain London's stature in global finance The Bank of England is pushing ahead with plans for transitional arrangements following Brexit negotiations in a bid to protect financial institutions from a cliff edge deal that could undermine their stability. Governor Mark Carney ...
Phillip Inman Economics corrrespondent / Guardian   |   Sun, 27 Nov 2016 19:32:00

Ireland central bank adds staff for Brexit insurers

Regulator grows by more than 25% as insurers seek new homes
FT   |   Sun, 27 Nov 2016 16:57:28

Mark Carney plan for Brexit gets cool response from Gove

Leave supporters reject plans reportedly backed by the Bank of England for a Brexit buffer.
BBC   |   Sun, 27 Nov 2016 15:10:34

Bank of England to reveal stress test results for UK's biggest banks

Snapshot assesses resilience of six banks and one building society as well as risks to post-Brexit financial system The Bank of England is due to provide a snapshot of the strength of Britain's biggest lenders after assessing their resilience to a dramatic economic downturn and sharp fall in house prices. ...
Jill Treanor / Guardian   |   Sun, 27 Nov 2016 15:05:46

Forecasters have been much too pessimistic about Brexit

Why we should treat the OBR's crystal ball-gazing with scepticism
FT   |   Sun, 27 Nov 2016 14:48:29

City should stop wasting time on 'Project Fear'

There are promising ideas to make Brexit work for those banks that look for them
FT   |   Sun, 27 Nov 2016 14:04:52

Carney urges transitional Brexit deal

Bank of England rejects reports of 'secret' plans to keep UK in single market
FT   |   Sun, 27 Nov 2016 13:25:40

Santander in U-turn over ringfencing plans on Brexit

Complexity of creating two viable standalone banks too difficult with UK leaving EU
FT   |   Sun, 27 Nov 2016 13:21:21

Banks back London with graduate hiring spree

Recruitment holds up despite Brexit concerns
FT   |   Sun, 27 Nov 2016 13:09:40

Of course the forecasts are bad: no one has a plan for Brexit

The Leavers somehow managed to deflect the blame for austerity on to 'Europe'. But they are far less convincing about our economic future now The European Union did not cause the 2007-08 financial crisis. The European Union did not instruct George Osborne to introduce an austerity policy which magnified the ...
William Keegan / Guardian   |   Sun, 27 Nov 2016 07:00:54