Saturday, May 18

Day: April 2, 2019

Why for many British companies Brexit has already happened
Featured, United Kingdom

Why for many British companies Brexit has already happened

    In the political realm, no one knows how Brexit’s long running theater of the absurd will end. But for much of the business world, Britain’s departure from the European Union has effectively happened. Nearly three years of uncertainty since the June 2016 referendum has forced companies to plan for the worst the prospect that Britain could crash out of the bloc without a deal governing future relations. The twisting road to Brexit has already slowed economic growth, discouraged investment and damaged the reputation of the nation as a haven for commerce. Global banks and other financial services companies are steadily shifting thousands of jobs and more than $1 trillion (£766bn) in assets to European cities to ensure that they are able to serve customers across the E...
Brexit can be delayed if UK calls new election or referendum
Europe, Featured

Brexit can be delayed if UK calls new election or referendum

    Michel Barnier has said a no-deal Brexit is becoming more likely by the day after the Commons rejected all the alternative solutions to Theresa May’s deal. Speaking in Brussels, the EU’s chief negotiator said there had to be a positive vote by MPs in order to avoid a cliff-edge Brexit on 12 April. No deal was never our desired or intended scenario, Barnier told an audience at a thinktank event. But the EU27 is now prepared. It becomes, day after day, more likely. Three scenarios were set out by the EU official: agreement this week on the prime minister’s deal or a variant of it, no deal, or a long extension to article 50 requiring a strong justification. Such is the frustration in EU capitals at the failure of Westminster to coalesce around a vision of its post-Br...