Brexit News Archive: 01 Aug 2017

Call for new party to stop Brexit 'catastrophe'

The former chief of staff to the Brexit Secretary is calling for a new political movement to oppose Britain's exit from the EU, branding it a
Sky   |   Wed, 9 Aug 2017 11:15:00

Stop EU exit 'catastrophe', says UK Brexit minister's ex-chief of staff

LONDON (Reuters) - Britain's exit from the European Union will be the country's biggest calamity since World War Two, the former chief of staff to Brexit minister David Davis said on Wednesday, calling for a new political movement to oppose the divorce.
Reuters   |   Wed, 9 Aug 2017 10:57:17

Brexit Is A Disaster, A New Political Party Must Be Formed To Reverse It

There simply is no evidence at all that Brexit is a disaster which needs reversing. Which is rather why the politicians are not all leaving to set up that new political party.
Tim Worstall, Contributor / Forbes   |   Wed, 9 Aug 2017 08:58:00

Banks might need $50 billion to cope with Brexit fallout

Banks would need to raise up to $50 billion to support new operations in Europe if Britain crashes out of the union.
CNN   |   Tue, 1 Aug 2017 15:28:10

Banks might need $50B to cope with Brexit

CNN   |   Tue, 1 Aug 2017 15:27:54

UK voters believe economic damage is price worth paying to get their way on Brexit

Greater number of Leave voters willing to risk their own or family members' jobs than those unwilling, poll finds.
Saim Saeed / Politico   |   Tue, 1 Aug 2017 14:25:17

Most Brexit voters: Economic damage is worth it

Three out of five people who voted for Brexit think "significant damage to the British economy" is a price worth paying.
CNN   |   Tue, 1 Aug 2017 14:20:40

UK banks' costs will jump 4% and capital needs 30% under Brexit

Findings come after HSBC says initial cost of exit will be US$200-US$300 million
Chris Scott / Asia Times   |   Tue, 1 Aug 2017 13:47:54

Brexit Is Worth Family Members Losing Their Jobs, Say Half Of Leave Voters Over 65

Half of Leave voters over the age of 65 would be happy for their family members to lose their jobs in order to ensure Brexit goes ahead. A YouGov poll published today also revealed 61% of people who voted Leave at the referendum think that "significant damage" to the UK ...
Ned Simons / Huffington Post   |   Tue, 1 Aug 2017 12:34:22

EU: 23 cities keen to host UK-based agencies post-Brexit

BRUSSELS (AP) - The European Union says 23 cities are competing to host the bloc's medicines and banking agencies, which are based in Britain but must move before the country leaves the EU in 2019.
Associated Press   |   Tue, 1 Aug 2017 12:33:36

Brexit Could Lead to Loss of 17,000 U.K. Investment Banking Jobs

Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to the latest estimates from Oliver Wyman.
WSJ   |   Tue, 1 Aug 2017 12:26:52

Brexit: Majority of older Leave voters say significant economic damage is 'price worth paying', finds YouGov

71 per cent of over-65s would accept a big economic hit - and half are willing for family members to lose their jobs
Rob Merrick / The Independent   |   Tue, 1 Aug 2017 12:20:00

Brexit spoils: Who's vying to host London agencies?

Twenty-one EU countries have sent in bids to host the two EU agencies that have to be relocated from London after Brexit.
Sky   |   Tue, 1 Aug 2017 12:01:00

Leave voters are happy for family members to lose their jobs over Brexit

LONDON - Brexit voters are willing for the British economy to take "significant damage" from leaving the EU, even if it means their own family members losing their jobs, a new poll has found. 61% of all Brexit-backers believe that significant damage to the British economy would be a "price ...
Business Insider   |   Tue, 1 Aug 2017 11:56:56

Here are the cities competing to take EU agencies away from London post-Brexit

Brexit is happening and with it Europe needs to decide where to relocate the two European agencies based in the United Kingdom.
CNBC   |   Tue, 1 Aug 2017 11:46:00

40,000 investment banking jobs could go

The impact of such job losses would be striking.
Here Is The City   |   Tue, 1 Aug 2017 11:03:04

Britain could lose 40,000 investment banking jobs in Brexit exodus

The U.K. could lose up to half of its investment banking jobs over the next few years if the government continues to pursue a hard-line exit from the EU, a new report has warned.
CNBC   |   Tue, 1 Aug 2017 10:22:00

Brexit: Up to 20 new agencies to be launched outside London to takeover tasks previously done in Brussels

Ministers say the move will save money and provide careers for people in UK regions
Joe Watts / The Independent   |   Tue, 1 Aug 2017 09:36:00

Brexit: Free movement will end in 2019

Seeking Alpha   |   Tue, 1 Aug 2017 09:31:14

Britain could lose 40,000 investment bankers after Brexit - report

(Reuters) Britain's finance industry could lose up to 40,000 investment banking jobs in the next few years unless it strikes a softer deal on its departure from the European Union, according to a new report by consultancy firm Oliver Wyman.
IFR   |   Tue, 1 Aug 2017 09:20:00

UK must rescue itself from abrupt Brexit 'disaster', Hague says

LONDON (Reuters) - Britain is heading towards a Brexit disaster that could amount to the biggest muddle in its history unless finance minister Philip Hammond succeeds in achieving a less abrupt exit from the EU, former Conservative Party leader William Hague said.
Reuters   |   Tue, 1 Aug 2017 08:28:10

Hammond plan can 'save UK from Brexit Disaster'

William Hague has come out in support of Philip Hammond's plans to have a transition period where the UK effectively remains in the single market until 2022.
Sky   |   Tue, 1 Aug 2017 08:16:00

Deutsche Bank signs lease for new London headquarters

German bank confirms commitment to city despite plans to move some staff after Brexit
FT   |   Tue, 1 Aug 2017 08:01:22

A Brexit exodus may cost London 40,000 investment banking jobs

LONDON – A banking exodus from London will be costly. International lenders may need to shift as many as 40,000 investment banking jobs to the European Union to maintain activities on the continent after Brexit, according to financial consultants Oliver Wyman. Banks may also have to pump as much as ...
Business Insider   |   Tue, 1 Aug 2017 07:55:50

UK could lose 40,000 banking jobs after Brexit: report

Hard Brexit will make European banking 'significantly less profitable.'
Zoya Sheftalovich / Politico   |   Tue, 1 Aug 2017 06:15:33

UK's Hammond: UK will seek to deepen trade globally, as it prepares for Brexit in 2019

Reuters out with the following comments from the UK Finance Minister Hammond, on Monday at a news conference during a visit to Brasilia. Key Quotes:
Dhwani Mehta / FX Street   |   Tue, 1 Aug 2017 03:20:31

Brexit projected to push up banks' costs 4% and capital needs 30%

Most detailed assessment comes amid risk of resources shift to US and Asia
FT   |   Mon, 31 Jul 2017 23:02:12

Ireland bids to host two major UK-based EU agencies after Brexit

About 1,000 staff work at the banking and medicines agencies, which are seen as some of the 'spoils' of Brexit by the other 27 EU countries
Deborah McAleese / The Independent   |   Mon, 31 Jul 2017 20:26:00

Brexit & Beyond: May Adamant Free Movement to End in 2019, U.K.'s Allure Wanes for EU Citizens, Poland's Threat to EU

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 Border agents check the passports of passengers arriving at Gatwick Airport in London, England. (Photo by Oli ...
MoneyBeat   |   Mon, 31 Jul 2017 19:37:30

UK will not cut taxes below European average after Brexit, Hammond says

Taipei Times   |   Mon, 31 Jul 2017 17:36:05

UK will not cut taxes below European average after Brexit - Hammond

LONDON (Reuters) - Britain does not intend to lower taxes far below the European average in order to remain competitive after Brexit but rather expects to keep a recognisably European economic and social model, finance minister Philip Hammond said.
Reuters   |   Mon, 31 Jul 2017 16:48:26

EU Free Movement Ends March 2019 - Brexit Really Does Mean Brexit

As Theresa May herself has said, Brexit means Brexit. We voted to go and going we are. Which, given that I was fully in favour of leaving in the first place pleases me mightily.
Tim Worstall, Contributor / Forbes   |   Mon, 31 Jul 2017 16:07:00

UK Government Rejects Plan for Irish Sea Border after Brexit

The Irish Times. Ireland.
The Irish Times. Ireland. / World Affairs   |   Mon, 31 Jul 2017 15:15:18

Brexit: May says free movement ends in 2019

Downing Street has quashed suggestions that EU citizens will still be able to come to Britain to live and work after Brexit takes effect in March 2019.
CNN   |   Mon, 31 Jul 2017 14:50:45

UK vows not cut taxes below European average after Brexit

Britain does not intend to lower taxes far below the European average in order to remain competitive after Brexit but rather expects to keep a recognizably European economic and social model, finance minister Philip Hammond said.
Hurriyet   |   Mon, 31 Jul 2017 14:02:00

Brexit: UK will not cut taxes, says Philip Hammond

Chancellor Philip Hammond says the UK has no desire to try to undercut European rivals after Brexit.
BBC   |   Mon, 31 Jul 2017 12:26:28

Brexit: Theresa May tries to stamp out cabinet squabbling over free movement

Downing Street has sought to rein in Chancellor Philip Hammond in an apparent attempt to prevent Brexit divisions descending into a cabinet civil war.
Joe Watts / The Independent   |   Mon, 31 Jul 2017 11:52:00

UK will not become tax haven after Brexit, says Philip Hammond

Britain's economic model will stay 'recognisable European' after it leaves the bloc, says Chancellor
Harriet Agerholm / The Independent   |   Mon, 31 Jul 2017 11:29:38

No 10 says free movement ends when UK leaves EU

Downing Street moves to end reports of differences over plans for UK immigration after Brexit.
BBC   |   Mon, 31 Jul 2017 11:29:25

Britain won't become tax haven after EU exit, says Hammond

The UK finance minister's comments contrast with earlier remarks he made suggesting a harder approach to Brexit
euronews   |   Mon, 31 Jul 2017 11:24:43

Theresa May insists freedom of movement will not continue 'as it is now' after Brexit

The prime minister insists that free movement of people will end in 2019. Theresa May's spokesman slaps down suggestions from Hammond that current rules could continue after Brexit. Chancellor had insisted that "literally nobody" wants a dramatic drop in immigration. Comments sparked Cabinet row with Liam Fox who Hammond's allies ...
Business Insider   |   Mon, 31 Jul 2017 10:58:46

UK PM May's Spox: Free movement of EU citizens to Britain will end in March 2019

A spokesman for the UK PM Theresa May is out on the wires now, via Reuters, commenting on the Brexit issue. Key Headlines: Free movement of EU citiz
Dhwani Mehta / FX Street   |   Mon, 31 Jul 2017 10:39:20

Government divided on free movement after Brexit

LONDON (Reuters) - Allowing free movement of people after Britain leaves the European Union would not "keep faith" with the Brexit vote, the international trade secretary said, underlining divisions in the government over the issue.
Reuters   |   Mon, 31 Jul 2017 09:32:43

Philip Hammond says UK will not slash taxes after Brexit

Chancellor tells French newspaper that UK plans to remain 'recognisably European'
FT   |   Mon, 31 Jul 2017 09:18:42

UK's Hammond: UK will not cut taxes below European average after Brexit

Reuters reported comments from the UK Finance Minister Phillip Hammond, responding to the question whether Britain would play the low-tax card to rema
Dhwani Mehta / FX Street   |   Mon, 31 Jul 2017 09:15:38

Hammond: UK will not be tax haven after Brexit

The UK's economic model will remain "recognisably European" after Brexit, according to the Chancellor.
Sky   |   Mon, 31 Jul 2017 08:28:00

UK will not cut taxes below European average after Brexit - Hammond

Britain does not intend to lower taxes far below the European average in order to remain competitive after Brexit but rather expects to keep a recognisably European economic and social model, finance minister Philip Hammond said. Hammond himself had suggested in January that Britain may have to change its economic ...
Reuters / Times of Malta   |   Mon, 31 Jul 2017 07:49:00

UK Chancellor, Philip Hammond, Insists Brexit Will Not Mean Minimal British State

Hammond is quite right, the various plans for post-Brexit Britain will leave it a recognisably European social democracy. That still leaves a lot of room for precisely how we structure that.
Tim Worstall, Contributor / Forbes   |   Mon, 31 Jul 2017 07:36:00