Brexit News Archive: 19 Jan 2017

Theresa May Says No to Half Measures on Brexit

Brexit was (and is) the right direction for Britain. But did Prime Minister Theresa May choose the wrong way to get there in her major address on January 17?Extracting the U.K. from Brussels and the European Union is, so far as its political structures are concerned, relatively straightforward. Sorting out ...
National Review   |   Thu, 19 Jan 2017 20:19:45

Soros: Brexit is going to be a long process, a bitter divorce would hurt both sides

More from the Bloomberg TV's interview with Billionaire investor George Soros, via Reuters. This time, Soros talks about Brexit and adds more...
Felipe Erazo / FX Street   |   Thu, 19 Jan 2017 20:05:32

Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty

Goldman Sachs has slammed the brakes on plans to move key operations from the US to London because of the uncertainty created by the vote for Brexit.
Here Is The City   |   Thu, 19 Jan 2017 19:13:33

Barclays boss: London will continue to be the "financial lungs" of Europe

The boss of one of the UK's biggest banks has today come out fighting for the City's post-Brexit status, likening London to an essential organ for the continent's financial health.
Here Is The City   |   Thu, 19 Jan 2017 18:31:57

Theresa May Says Britain Will Lead a New Era of Free Trade

It was a jarring note from the leader of a country leaving the world’s largest free-trade group. She also urged the Davos elite to seriously address inequality.
DealBook   |   Thu, 19 Jan 2017 17:34:59

Is Theresa May's Brexit Plan B an elaborate bluff?

The PM has threatened to turn Britain into a low-tax Singapore of the west
FT   |   Thu, 19 Jan 2017 16:53:21

Sadiq Khan warns on EU cities trying to woo banks

London mayor urges Theresa May to defend the UK capital after Brexit
FT   |   Thu, 19 Jan 2017 14:59:04

Davos a bad time to raise rhetoric over City jobs

HSBC's talk of Brexit risks to London are not likely to draw much sympathy
FT   |   Thu, 19 Jan 2017 14:51:03

Mayor Sees London Poorer After Brexit

The U.K.'s departure from the European single market will make London poorer, the capital's mayor told CNBC. Speaking exclusively to CNBC Thursday, Sadiq Khan said that leaving the single market "would be bad for London." "I accept the case that the British public have voted to leave the European Union, ...
OANDA   |   Thu, 19 Jan 2017 13:35:29

Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty

US firm slows London hiring as City employers including HSBC and UBS warn they will have to relocate staff out of Britain Goldman Sachs has slammed the brakes on plans to move key operations from the US to London because of the uncertainty created by the vote for Brexit. The ...
Jill Treanor / Guardian   |   Thu, 19 Jan 2017 13:15:50

Auto Industry Key For UK in Brexit Negotiations

Britain's car industry is a key part of the economy and the government is looking to ensure the best possible EU market access for all of the country's important sectors, Prime Minister Theresa May's spokesman said on Thursday. The chairman of Japanese carmaker Toyota told the Financial Times on Wednesday: ...
OANDA   |   Thu, 19 Jan 2017 12:42:11

Bank of America's CEO worries about the real fallout of Brexit

Bank of America CEO Brian Moynihan has highlighted his concerns over the structural issues that Europe is facing.
CNBC   |   Thu, 19 Jan 2017 12:40:00

Theresa May vows UK will not withdraw from global role after Brexit

PM's Davos speech aims to reassure that vote was not rejection of Europe
FT   |   Thu, 19 Jan 2017 12:15:30

London's banking 'oil tankers' are beginning to turn away from the City - thousands of jobs will go with them

LONDON – An oil tanker needs around five miles of sea to stop and takes up to an hour to change course. They're great at moving thousands of tons of crude oil across the world but they're not nimble. In many ways, they're like an investment bank. International investment banks ...
Business Insider   |   Thu, 19 Jan 2017 12:11:10

Behind the bravado: why Theresa May has to play hardball on hard Brexit

Even prior to the formal start of what is likely to be a long tournament, the players are taking their seats at the poker table. They're puffing their chests, turning stone-faced, sternly glaring at each other in the eye. They're looking at the hand they've been dealt and deciding what ...
Simon Toubeau, Assistant Professor, School of Politics and International Relations, University of Nottingham / The Conversation   |   Thu, 19 Jan 2017 12:10:59

Bankers at Davos discuss plans to move jobs out of UK

May's Brexit speech seems to have bolstered need to relocate some operations
FT   |   Thu, 19 Jan 2017 11:13:54

Liam Fox claims Britain has already started negotiating trade deals with at least 12 countries

LONDON - Trade minister Liam Fox claims that Britain has already held "informal trade negotiations" with a dozen countries all over the world as part of the government's recently announced plan for a new "global Britain." In a column for the Daily Telegraph, Fox claims that the UK has started ...
Business Insider   |   Thu, 19 Jan 2017 11:10:29

Theresa May declares Brexit will make a 'truly global Britain' at Davos

Telegraph   |   Thu, 19 Jan 2017 10:51:31

Royal Mail shares hit after sharp drop in letters

Brexit uncertainty prompts slump in junk mail sent by businesses
FT   |   Thu, 19 Jan 2017 09:48:15

Theresa May promises a 'global Britain' post Brexit

UK PM's Davos speech aims to reassure Europeans vote was not a rejection of Europe
FT   |   Thu, 19 Jan 2017 09:47:55

Theresa May is telling the most powerful people in the world right now about her Brexit plan

Prime Minister Theresa May is in Davos, Switzerland at the World Economic Forum. This is the first time May addresses world leaders after delivering a clearer Brexit plan on Tuesday. "We are going to be a confident country that is in control of its destiny once again." DAVOS, Switzerland - ...
Business Insider   |   Thu, 19 Jan 2017 09:31:05

Brexit beginnings?: Banks start to shift thousands of jobs out of UK

CNN   |   Thu, 19 Jan 2017 08:51:30

REPORT: Goldman Sachs could cut 3,000 London jobs over Brexit

LONDON – Goldman Sachs is considering cutting its staffing numbers in London by up to 50%, according to a report in German newspaper Handelsblatt. The paper reports that the bank is planning to shift 1,000 people to Frankfurt and set up a new European subsidiary as it prepares for the ...
Business Insider   |   Thu, 19 Jan 2017 08:46:09

Nissan, Toyota back U.K. plants despite May's Brexit plan

Toyota Motor Corp. and Nissan Motor Co. say they'll keep making cars in the U.K. despite Prime Minister Theresa May's plan to leave the European Union's single market, which could make exporting from British factories less lucrative. May's Brexit plan, outlined Tuesday, won't derail Nissan's commitment to build new versions ...
Japan Times   |   Thu, 19 Jan 2017 08:43:13

Davos 2017: Theresa May says Britain is 'open for business' after Brexit

Telegraph   |   Thu, 19 Jan 2017 08:30:40

Top bankers touch down in Davos for Brexit showdown with Theresa May

Prime Minister Theresa May has jetted out to Davos for crunch talks with top bankers following a landmark speech this week in which she set out her vision for Brexit.
Here Is The City   |   Thu, 19 Jan 2017 08:23:15

HSBC boss: Jobs accounting for 20 per cent of revenue may move from London

We've already heard a lot about HSBC's plans to move jobs to France if Brexit negotiations don't go as the bank hopes.
Here Is The City   |   Thu, 19 Jan 2017 07:51:00

Davos 2017: Theresa May addresses the World Economic Forum - business live

Rolling coverage of the third day of the World Economic Forum in Davos UK prime minister speaks at 10.15 CET/9.15am GMT May expected to discuss Brexit, globalisation and slavery EU politicians and businesses warn May over 'difficult' Brexit 7.43am GMT Huge buzz in #Davos #wef17 congress centre as Theresa May ...
Graeme Wearden / Guardian   |   Thu, 19 Jan 2017 07:43:41

At Davos, bankers discuss plans to move jobs out of UK

May's Brexit speech seems to have convinced City to relocate some London operations
FT   |   Thu, 19 Jan 2017 07:41:55

Moscovici: Brexit will damage UK and EU

The EU's economics commissioner says the UK will lose advantages when it leaves the EU "club".
BBC   |   Thu, 19 Jan 2017 07:38:25

Brexit, Donald Trump and the threat to Europe

Britain is courting a president-elect who looks forward to the unravelling of the EU
Philip Stephens   |   Thu, 19 Jan 2017 05:00:25

Downing Street defends Boris Johnson over 'Brexit punishment beatings' quip

Downing Street was forced to come to the defence of British foreign secretary Boris Johnson after he warned the French president, François Hollande, not to respond to Brexit by trying to "administer punishment beatings" in the manner of "some world war two movie". The foreign secretary evoked the darkest period ...
The Guardian / South China Morning Post   |   Thu, 19 Jan 2017 02:28:09

HSBC, UBS to shift 1,000 jobs each from UK in Brexit blow to London

Two of Europe's biggest banks warned on Wednesday that they could each move about 1,000 jobs out of London.
CNBC   |   Thu, 19 Jan 2017 00:45:00

Theresa May's Honest Brexit

PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressCpna/Zuma PressTheresa May's Honest Brexit A clean British break from the single EU market makes ...
WSJ   |   Thu, 19 Jan 2017 00:31:50

Theresa May should review aid spending after Brexit and claw back the £1.4bn sent to the EU

Kate McCann / Telegraph   |   Thu, 19 Jan 2017 00:01:00

May's Brexit Will Be Both Hard and Risky

British Prime Minister Theresa May presented her opening gambit on January 17 for the upcoming Brexit negotiations. She signaled that her government strives for a clean and hard Brexit, including a UK departure from the EU Internal Market and-apparently-the EU Customs Union. Control over...
Petersen Institute   |   Wed, 18 Jan 2017 22:19:01

Liam Fox launches Brexit trade crusade confirming informal talks already under way with 12 countries across the world

Peter Dominiczak / Telegraph   |   Wed, 18 Jan 2017 22:00:00

2:00PM Water Cooler 1/18/2017

Today's Water Cooler: Chelsea Manning, Trump inaugural, Chait's book, industrial production, copper, Brexit, unicorns, tomatoes, Davos man
Naked Capitalism   |   Wed, 18 Jan 2017 19:00:37

Brexit & Beyond: Juncker Holds Brexit Line, U.K. Consumers Keep Economy Humming, Le Pen Centers Run on Euro Exit

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 European Commission President Jean-Claude Juncker addresses a news conference during a European Union leaders summit in Brussels, ...
MoneyBeat   |   Wed, 18 Jan 2017 18:59:15

Red lines and battlelines: Early fights that will shape Brexit outcome

Opening confrontations may show if there is basis for viable deal
FT   |   Wed, 18 Jan 2017 18:55:47

Brexit: Boris Johnson warns against 'punishment beatings'

Boris Johnson tells the EU not to treat the UK's Brexit "escape" like a "World War Two movie".
BBC   |   Wed, 18 Jan 2017 18:47:00

Europe reacts to Theresa May's Lancaster House speech

Open Europe's Alex Greer reviews the political, business and press reactions in Europe to Theresa May's Lancaster House speech setting out her Government's objectives in the upcoming Brexit negotiations. The post Europe reacts to Theresa May's Lancaster House speech appeared first on Open Europe .
Open Europe   |   Wed, 18 Jan 2017 17:31:05

UBS chairman says 1,000 London jobs could be hit by Brexit

UBS Chairman Axel Weber has said that around 1,000 of the Swiss bank's 5,000 employees based in London could be impacted by Britain's exit from the European Union.
IFR   |   Wed, 18 Jan 2017 17:21:00

Supreme Court to Deliver Brexit Ruling on January 24

The Guardian. UK.
The Guardian. UK. / World Affairs   |   Wed, 18 Jan 2017 16:58:03

EU leaders respond to UK PM's Brexit speech

Two high-ranking EU officials have responded cautiously to Theresa May's speech in which she confirmed that the UK would leave the single market.
euronews   |   Wed, 18 Jan 2017 16:28:10

Brexit and the UK creative industry

The creative sector is important for the UK in terms of employment and share of exports. However, it has mostly been overlooked in Brexit negotiation discussions, despite the fact that a hard Brexit could risk slowing it down as one of the UK's most consistently growing sectors over the last ...
Bruegel   |   Wed, 18 Jan 2017 15:23:58

Theresa May's Brexit speech leaves small firms in the dark

No access to EU's single market and replacement deals potentially decades away heightens uncertainty for UK businesses Theresa May's speech on Tuesday was the government's first informative announcement on what the UK will look like after Brexit. A customs union with the EU has been ruled out so the UK ...
Swati Dhingra / Guardian   |   Wed, 18 Jan 2017 15:18:50

Supreme Court Brexit judgment: When is it and will it derail leaving the EU?

Telegraph Reporters / Telegraph   |   Wed, 18 Jan 2017 15:08:01

UK Supreme Court to issue Brexit decision on Jan. 24

Britain's Supreme Court will issue its decision on whether UK Prime Minister Theresa May need to consult the parliament before invoking Article 50 of
Haresh Menghani / FX Street   |   Wed, 18 Jan 2017 14:54:09

Supreme Court Brexit ruling: When is it and will it derail leaving the EU?

Telegraph Reporters / Telegraph   |   Wed, 18 Jan 2017 14:37:34

The German reaction to Theresa May's speech: A mixed response to 'hard Brexit'

Theresa May's speech on 17 January laid out some of the key aims of the UK government as it seeks to leave the European Union. Inez von Weitershausen presents an overview of the reactions from Germany, writing that responses ranged from anger and disappointment to more hopeful calls for a ...
EUROPP   |   Wed, 18 Jan 2017 14:30:50

Toyota, HSBC and UBS warn of Brexit damage

Carmakers and financial services respond negatively to Theresa May's Brexit plans
FT   |   Wed, 18 Jan 2017 13:17:07

UBS will have to move bankers out of London because of Brexit

UBS has become the latest bank to publicly restate it is planning to moving staff out of London because of Brexit, just a day after the Prime Minister's landmark speech.
Here Is The City   |   Wed, 18 Jan 2017 12:55:56

Theresa May's Brexit will bring about a diminished Britain

The prime minister has bowed to the logic of solipsism
FT   |   Wed, 18 Jan 2017 12:50:53

In Speech, Theresa May Outlines Clean Break for U.K.

In long-awaited remarks, the British prime minister emphasized regaining control of immigration, even if it means losing E.U. trading advantages.
DealBook   |   Wed, 18 Jan 2017 12:37:04

HSBC to move 1,000 staff from London to Paris after Brexit

HSBC, Europe's biggest bank, plans to shift around 1,000 workers, who generate around 20 percent of its trading revenue to Paris, post-Brexit.
euronews   |   Wed, 18 Jan 2017 12:34:10

UK v Europe: newspaper reactions to Brexit speech

While the British press cheered, continental counterparts rolled their eyes
FT   |   Wed, 18 Jan 2017 12:23:40

Boris Johnson: no WW2-style punishment beatings over Brexit

British foreign secretary evokes dark period of French history as he warns François Hollande against trying to hurt UK Boris Johnson has warned François Hollande, the French president, against trying to "administer punishment beatings" in the manner of "some world war two movie" to any country that tries to leave ...
Michael Safi in Delhi / Guardian   |   Wed, 18 Jan 2017 12:11:45

UK ministers warn EU against 'punitive' Brexit deal

Johnson and Davis evoke second world war in defence of May speech
FT   |   Wed, 18 Jan 2017 11:59:34

Theresa May's Brexit Plan: I Want, I Want, I Want

Theresa May wanted to show a friendly yet tough face to her country's European allies. But her Brexit speech showed one thing above all: The British prime minister is blind to reality.
Spiegel   |   Wed, 18 Jan 2017 11:46:46

EU, UK take contrasting messages from May's Brexit speech

LONDON (AP) - European Union leaders on Wednesday countered U.K. optimism about a smooth and mutually beneficial divorce between Britain and the EU, declaring that, no matter what British Prime Theresa May thinks, Britain can't dictate the terms of the separation.
Associated Press   |   Wed, 18 Jan 2017 11:35:00

Business warned to act over Brexit uncertainty

Lack of EU deal increases need for residency applications, immigration experts say
FT   |   Wed, 18 Jan 2017 11:31:07

HSBC's chief executive reiterates plan to relocate 1,000 staff to Paris as part of Brexit shakeup

HSBC Holdings is likely to transfer about 1,000 jobs from London to Paris as a result of Brexit, bringing it in line with other international banks such as Credit Suisse, BNP Paribas and Morgan Stanley, which are also relocating parts of their operations to European Union jurisdictions, according to HSBC ...
Enoch Yiu / South China Morning Post   |   Wed, 18 Jan 2017 10:49:49

HSBC to shift staff from Britain to Paris after Brexit

No staff to move for at least 2 years; bank would set up France holding company
Globe and Mail   |   Wed, 18 Jan 2017 10:25:14

The EU Parliament's chief Brexit negotiator is taking the fight to Theresa May

LONDON - One of the EU's chief Brexit negotiators has dismissed Theresa May's landmark Brexit speech, warning that the days of "UK are over. Guy Verhofstadt, a staunch federalist and long-time opponent of Britain leaving the 28-nation bloc, posted a series of tweets on Tuesday evening suggesting that he has ...
Business Insider   |   Wed, 18 Jan 2017 10:16:45

GBP/USD - Pound Retracts After Surging on May's Brexit Speech

The pound has dipped on Wednesday, after posting spectacular gains in the Tuesday session. Currently, GBP/USD is trading just above the 1.23 level. On the release front, British employment numbers were strong, as wage growth and unemployment claims were better than expected. In the US, we'll get a look at ...
OANDA   |   Wed, 18 Jan 2017 10:12:46

No access to EU single market could be 'absolutely disastrous' for farmers

LONDON - Failure to secure full access to the single market after Brexit could be "absolutely disastrous" for agriculture, according to Britain's biggest farming union. Prime minister Theresa May confirmed in a speech on Tuesday morning that she would pursue a "hard Brexit", shorthand for pulling Britain out of the ...
Business Insider   |   Wed, 18 Jan 2017 09:34:50

GBP: Hard Brexit fears may have peaked in the near-term - MUFG

Lee Hardman, Currency Analyst at MUFG, notes that the pound got caught up in a big position squeeze yesterday which resulted in cable rising sharply b
Sandeep Kanihama / FX Street   |   Wed, 18 Jan 2017 09:18:33

David Davis pressed over Brexit timing

Brexit secretary David Davis says negotiations will be done and dusted in two years.
BBC   |   Wed, 18 Jan 2017 09:13:37

Europe gets ready for 'messy' Brexit talks

"These things have a tendency to get messy," Alexander Stubb, former prime minister of Finland told CNBC.
CNBC   |   Wed, 18 Jan 2017 08:56:00

UPDATE 1-HSBC to shift staff from Britain to Paris after Brexit

* Shares up 1 percent by 0821 GMT (Adds details, share price)
Reuters   |   Wed, 18 Jan 2017 08:42:57

Article 50 will mark the start of Brexit negotiations - EU's Dombrovskis

Valdis Dombrovskis, member of the European Commission, said on Wednesday that the Brexir vote could have negative impact on both the European Union an
Pablo Piovano / FX Street   |   Wed, 18 Jan 2017 08:40:55

Theresa May Brexit Speech: PM reveals UK Will Leave Single Market, Flags Australia Trade Deal

Theresa May Brexit Speech: PM reveals UK Will Leave Single Market, Flags Australia Trade Deal I think it is good to get the Australian perspective on this and here is The Sydney Morning Herald's article on Mrs May's speech: London: British prime minister Theresa May has flagged a trade deal ...
Proactive Investors   |   Wed, 18 Jan 2017 08:39:00

David Davis: Parliament will not block Brexit

Laura Hughes / Telegraph   |   Wed, 18 Jan 2017 08:19:56

HSBC CEO: Brexit will push bankers making 20% of London revenue to Europe

LONDON – Bankers generating around a fifth of HSBC's London revenue will move to Europe as a result of Brexit, CEO Stuart Gulliver said in an interview with Bloomberg Television. "Specifically what will happen is those activities covered specifically by European financial regulation will need to move, looking at our ...
Business Insider   |   Wed, 18 Jan 2017 08:13:31

Spanish government will be reasonable on Brexit, says economy minister

Spain will act reasonably in Brexit negotiations with the U.K., Economy Minister Luis de Guindos told CNBC at the World Economic Forum in Davos on Wednesday.
CNBC   |   Wed, 18 Jan 2017 07:54:00

Trade truths for May's vision of a 'Global Britain'

Five hurdles on the prime minister's chosen path for the UK after Brexit
FT   |   Wed, 18 Jan 2017 07:32:50

Theresa May's speech: The Prime Minister has set the wrong course on Brexit

On 17 January, Theresa May gave an outline of the objectives the UK government intends to pursue in its negotiations to leave the European Union. Steve Peers reacts to the contents of the speech, arguing that although some of the speech was valuable, the decision to leave the single market ...
EUROPP   |   Wed, 18 Jan 2017 07:30:57

10 things you need to know in markets today

Good morning! Here's what you need to know in markets on Wednesday. HSBC CEO Stuart Gulliver said trading operations that generate about 20% of revenue for the lender's investment bank in London may move to Paris, quantifying some of the aftershocks for the UK after Brexit. "Activities specifically covered by ...
Business Insider   |   Wed, 18 Jan 2017 06:48:43

Deutsche Börse CEO: Want dual HQ in London and Frankfurt

Deutsche Börse CEO, Carsten Kengeter talks about how the "Hard Brexit" outcome may - or may not - impact the company's strategic future.
CNBC   |   Wed, 18 Jan 2017 05:32:00

Live: Dollar tumbles to a one-month low as Trump says the currency is 'too strong'

Our live blog is tracking reactions after Trump's comments on the dollar sent the index tumbling to its lowest level in more than a month.
CNBC   |   Wed, 18 Jan 2017 05:08:00

UK: PM May's tone of the speech was constructive and optimistic - ANZ

Analysts at ANZ note that the UK PM Theresa May outlined her government's objectives for Brexit negotiations overnight. Key Quotes "Essentially the
Sandeep Kanihama / FX Street   |   Wed, 18 Jan 2017 04:28:56

May outlines vision for a full Brexit with a 'bold and ambitious' trade deal

Prime Minister Theresa May has finally outlined what Brexit really means for her: Britain going it alone, fully disentangled from the European Union while hoping the bloc will agree to a comprehensive trade deal. Britain will exit the EU's vast internal market for goods and services and will instead try ...
Japan Times   |   Wed, 18 Jan 2017 03:20:30