Brexit News Archive: 04 Aug 2017

Lord Sugar says Boris Johnson and Michael Gove should be in prison over Brexit 'lies'

The pair endorsed the claimed the NHS would be £350 million better off after Brexit
Jon Stone / The Independent   |   Fri, 4 Aug 2017 16:38:26

RBS plans move to Amsterdam for post-Brexit EU hub

Royal Bank of Scotland is in discussions about using Amsterdam as its post-Brexit EU hub and has revealed it is being investigated for potential breaches of money laundering rules.
Here Is The City   |   Fri, 4 Aug 2017 12:22:38

Morning News: August 4, 2017

Global Refiners Brace Themselves as China Cements Its Oil Market Dominance As Brexit Nears, 'Discounters' Gain Ground in U.K. Supermarket Wars Toyota and Mazda Link [...]
Eddy Elfenbein   |   Fri, 4 Aug 2017 11:04:37

Car sales continue to crash as Brexit economic uncertainty weighs

Telegraph   |   Fri, 4 Aug 2017 10:14:17

Brexit uncertainty blamed as UK car sales fall for fourth month

Sales of new cars fell 9.3% to 161,997 in July, while those of diesel cars were down by a fifth compared with last year New car sales in the UK fell for a fourth month in July as Brexit uncertainty weighed on demand and buyers shunned diesel cars in greater ...
Angela Monaghan / Guardian   |   Fri, 4 Aug 2017 10:06:43

Boris Johnson And Michael Gove Should Be In Prison For Brexit 'Lies', Says Lord Sugar

Boris Johnson and Michael Gove should be thrown in prison for the "lies" told during the EU referendum, Lord Sugar has said. The independent peer, who quit the Labour Party in 2015, said today he would be willing to serve as Theresa May's Brexit negotiator. Asked by BBC Radio 5′s ...
Ned Simons / Huffington Post   |   Fri, 4 Aug 2017 10:05:30

RBS plans Amsterdam hub for NatWest Markets after Brexit

Royal Bank of Scotland could add 150 staff to its Amsterdam operation as NatWest Markets, its investment bank arm, will use a Netherlands licence to deal with Britain's exit from the European Union.
IFR   |   Fri, 4 Aug 2017 09:07:00

New car sales fall with 20% diesel decline

The fourth consecutive fall in new car sales is being blamed on uncertainty over Brexit and the Government's plans to boost air quality.
Sky   |   Fri, 4 Aug 2017 07:56:00

RBS plans move to Amsterdam for post-Brexit EU hub

UK taxpayer-owned bank reports first half-yearly profit for three years with full-year loss likely as it outlines plan to ensure passporting rights continue Royal Bank of Scotland has revealed it is in discussions about using Amsterdam as its post-Brexit EU hub as it reported it had made a profit in ...
Jill Treanor / Guardian   |   Fri, 4 Aug 2017 06:44:41

RBS swings into second quarter profit

State-backed bank reverses losses as it unveils contingency plans for a "hard" Brexit
FT   |   Fri, 4 Aug 2017 06:26:52

RBS returns to profit in first half of 2017

The banking giant makes a profit of £939m and selects Amsterdam as its post-Brexit European base.
BBC   |   Fri, 4 Aug 2017 06:20:13

Swiss bank Julius Bär plans expansion in UK with new offices

A Swiss bank that accepts only customers with at least £2m of assets is defying Brexit with plans to expand in the UK through new offices in Manchester, Leeds and Glasgow.
Here Is The City   |   Fri, 4 Aug 2017 04:23:27

Business group urges cabinet to agree on Brexit transition

The Institute of Directors called on the cabinet to stop "dancing around the edges" of Brexit.
BBC   |   Fri, 4 Aug 2017 00:20:29

Time to define how Brexit transition period will work, says business group

LONDON (Reuters) - The British government must stop "dancing around" the details of Brexit and work out what kind of transitional deal it wants with the European Union, lobbying group the Institute of Directors said on Friday, as it set out a raft of possible options.
Reuters   |   Thu, 3 Aug 2017 23:12:39

Brexit Transition Deal Poses Questions for the EU

The British government's apparent agreement that it will seek a post-Brexit transitional deal with the European Union is aimed at easing business uncertainty. But companies still have no idea what rules will govern the economic relationship between the two sides less than 20 months from now.
WSJ   |   Thu, 3 Aug 2017 20:21:23

Brexit & Beyond: Bank of England Signals Faster Rate Rise, The Unreal Brexit Transition Debate, EU Satisfied With Russia Sanctions Law

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 Bank of England Gov., Mark Carney. BLOOMBERG NEWS BOE Signals Rates to Rise Faster Than Markets Expect: ...
MoneyBeat   |   Thu, 3 Aug 2017 19:14:54

Swiss bank Julius Baer plans expansion in UK with new offices

Bank for wealthy customers will open offices in Manchester, Leeds and Glasgow in bid to draw in multimillionaire clients A Swiss bank that accepts only customers with at least £2m of assets is defying Brexit with plans to expand in the UK through new offices in Manchester, Leeds and Glasgow. ...
Jill Treanor / Guardian   |   Thu, 3 Aug 2017 18:28:41

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 uncertainty is holding back investment, Mark Carney warns

Bank of England cuts growth forecasts and leaves interest rates unchanged
FT   |   Thu, 3 Aug 2017 15:55:15

Carney warns Brexit uncertainty is building

Bank Governor warns Brexit is weakening investment as Bank holds rates and cuts growth forecasts.
BBC   |   Thu, 3 Aug 2017 15:20:15

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