Brexit News Archive: 03 Aug 2017

Britain's finance sector will double in size in 25 years, says Mark Carney

The governor of the Bank of England has predicted that the financial sector could double in size to be 20 times as big as GDP within the next 25 years, but warned that the government must hold its nerve and resist pressure to water down regulation after Brexit.
Here Is The City   |   Thu, 3 Aug 2017 17:57:30

Britain's finance sector will double in size in 25 years, says Mark Carney

Bank of England governor predicts the industry will thrive after Brexit but warns that regulations must not be watered down The governor of the Bank of England has predicted that the financial sector could double in size to be 20 times as big as GDP within the next 25 years, ...
Larry Elliott and Jill Treanor / Guardian   |   Thu, 3 Aug 2017 17:00:19

Brexit Or No Brexit, The UK And EU Must Stand Up For Human Rights

Europeans have experienced turbulent elections of late, with populist, authoritarian nationalism pitted against openness, tolerance, and democracy. But in one election after another, voters have chosen more pragmatic and optimistic visions of society. Nowhere was this as clear as in the UK, where the Conservatives' small-islander vision of a buccaneering ...
Julie Ward / Huffington Post   |   Thu, 3 Aug 2017 15:00:20

Brexit Behind Lower UK Growth Forecasts

Mark Carney says Brexit will continue to take a toll on U.K. investment and growth, and the Bank of England's assumption of an orderly divorce from the European Union will be put to the test. The BOE governor's comments come after signs of slow progress in the initial round of ...
OANDA   |   Thu, 3 Aug 2017 14:30:35

Interest Rates On Hold As Bank Of England Cites Brexit Uncertainty

We know that we're going, Brexit is going to happen (Hurrah!) but we are still uncertain about what the exact terms are going to be. Thus that uncertainty which is slowing economic growth.
Tim Worstall, Contributor / Forbes   |   Thu, 3 Aug 2017 14:06:00

Brexit will continue to weigh on UK growth says BOE chief

Uncertainty weighs on the decisions of businesses and households says Carney
Chris Scott / Asia Times   |   Thu, 3 Aug 2017 13:36:02

Carney Speech: Brexit uncertainty is affecting UK wage bargaining

Mark Carney, Governor of the Bank of England (BoE), is responding to questions from the press, with key headlines, via Reuters, found below: There
Eren Sengezer / FX Street   |   Thu, 3 Aug 2017 12:22:54

Bank of England stands pat on interest rates despite inflation and Brexit worries

The Bank of England has cut its economic growth forecasts and expects inflation will peak at 3% in October, driven by a weaker pound following the UK's vote to leave the European Union. In a press conference on the central bank's Inflation Report, Governor Mark Carney warned that Brexit is ...
Proactive Investors   |   Thu, 3 Aug 2017 12:15:00

Bank of England cuts growth forecasts, keeps rates low

LONDON (AP) - The Bank of England cut its growth forecast for Britain on Thursday, saying it expects a economy as household incomes are squeezed by a rise in inflation that followed the Brexit vote.
Associated Press   |   Thu, 3 Aug 2017 11:46:20

Carney Speech: Process of Brexit is beginning to affect UK economy's supply capacity

Mark Carney, Governor of the Bank of England (BoE), is giving his remarks on the monetary policy decisions, with key headlines, via Reuters, found bel
Eren Sengezer / FX Street   |   Thu, 3 Aug 2017 11:41:13

The UK seems so badly prepared for Brexit negotiations that other EU countries think it must be a trap

LONDON - The UK seems so badly prepared for Brexit negotiations that some EU diplomats are starting to believe that it must be some form of elaborate trap. The apparent chaos on the British side has alarmed diplomats from European countries who are used to British governments being organised and ...
Business Insider   |   Thu, 3 Aug 2017 11:22:28

Bank of England downgrades GDP growth forecasts as Brexit looms

The Bank said it saw GDP growth of 1.7 per cent this year, down from 1.9 per cent it projected in May
Ben Chu, Ashley Cowburn / The Independent   |   Thu, 3 Aug 2017 10:52:00

Why The UK Must Safeguard Its Software Sector Through Brexit Negotiations

Software is ubiquitous. It is at the heart of every aspect of modern life. We depend on software at the office, at school, at home, in our leisure time, when we travel and when we communicate. Software helps us be more effective, more creative and more efficient. Ironically, software is ...
Sarah Coombes / Huffington Post   |   Thu, 3 Aug 2017 10:44:14

Service sector surveys indicate sluggish growth, says Markit

Growth is likely to be modest or could weaken due to continuing Brexit uncertainty, Markit says.
BBC   |   Thu, 3 Aug 2017 09:20:08

Brexit: UK's top universities demand Theresa May rethink plans for EU citizens' rights

Exclusive: Universities have issued a list of 10 demands they say must be met to protect the sector
Rachael Pells, Joe Watts / The Independent   |   Wed, 2 Aug 2017 23:01:25

Post-Brexit diplomacy: Can the UK hope to exert leverage at the UN without recourse to the EU?

When it comes to international diplomacy, the UK has benefited considerably from being part of the EU. But can it maintain its influence at the UN without an EU membership? Megan Dee and Karen E. Smith outline the challenges and opportunities in this area after Brexit. As divorce proceedings commence, ...
British Politics and Policy at LSE   |   Wed, 2 Aug 2017 23:00:34

Brexit & Beyond: Eurozone Producer Prices Drop, Switzerland's $750 Billion Problem, Pence Stays on Message in Europe

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 A worker assembles a steering wheel of a new Porsche 911 sports car at the Porsche factory ...
MoneyBeat   |   Wed, 2 Aug 2017 19:05:51

Brexit mud fails to stick to UK banks

Barclays announced its second sterling Additional Tier 1 of the year on Wednesday, shortly after Moody's upgraded its outlook on the UK banking sector to stable from negative.
IFR   |   Wed, 2 Aug 2017 15:59:00

RSA raises dividend as first-half profit jumps but not complacent amid Brexit worries

RSA Insurance Group plc (LON:RSA) hiked its interim dividend by 32% as the company delivered first half profit, though it said it could do "much more" to improve. The insurer reported a 15% increase in operating profit to £360mln in the six months to 30 June, compared to the same ...
Proactive Investors   |   Wed, 2 Aug 2017 08:55:00

Despite Brexit: Moody's lifts the ratings on UK banks

Moody's has raised the outlook of several British banks and building societies, with the ratings agency saying they were better positioned for a "modest worsening" in the UK's environment.
Here Is The City   |   Wed, 2 Aug 2017 07:27:50

RSA lifts dividend after first half profit beat but is 'not relaxing' amid Brexit worries

RSA Insurance Group plc (LON:RSA) hiked its interim dividend by 32% as the company delivered first half profit, though said it could do "much more" to improve. The insurer reported a 15% increase in operating profit to £360mln in the six months to 30 June, compared to the same period ...
Proactive Investors   |   Wed, 2 Aug 2017 06:55:00

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

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. Banks are currently planning for a worst-case scenario in which they ...
Anjuli Davies, Reuters / Times of Malta   |   Wed, 2 Aug 2017 06:43:03