UK warned on cost of ‘hard Brexit’

The leading authority on world trade has told the BBC that there are likely to be costs attached to a "hard Brexit" Roberto Azevedo, director general of the World Trade Organisation, said that negotiations between the UK and the European Union would be difficult and "extremely unpredictable". He said achieving a smooth exit and a … Continue reading UK warned on cost of ‘hard Brexit’

Brussels may include ‘punishment clause’ in post-Brexit trade deal

EU could impose punitive tariffs on key British exports such as beef if UK seeks to lower regulatory standards The EU is keen to both protect its economic interests and ensure there is no race to the bottom on regulatory standards The EU is exploring the inclusion of a “punishment clause” in any future trade … Continue reading Brussels may include ‘punishment clause’ in post-Brexit trade deal

Brexit: Coveney says border breakthrough ‘doable’ but flexibility needed

Taoiseach is meeting president of the European Council Donald Tusk in Dublin today An agreement to avoid a hard border in the Brexit negotiations is possible by a key EU summit next month but there needs to be “some movement and more flexibility,” said Minister for Foreign Affairs Simon Coveney. Speaking at an event in … Continue reading Brexit: Coveney says border breakthrough ‘doable’ but flexibility needed

UK banks could handle ‘disorderly Brexit’

The UK's banks could cope if Britain leaves the European Union in a "disorderly Brexit" in 2019, the Bank of England has said. For the first time since the financial crisis, all of the UK's biggest lenders have passed the Bank's stress tests. The tests of adverse economic scenarios discover if the banks could continue … Continue reading UK banks could handle ‘disorderly Brexit’

GBP v USD: Exchange rate tumbles as Carney warns of impact of no-deal Brexit

The Pound/US dollar exchange rate has dipped slightly from yesterday’s eight-week high, relinquishing its early gains as analysts scrutinised the Bank of England’s (BoE) latest financial stability report. The pound is currently at around $1.330, down from the day’s best levels of $1.334. Investors were initially upbeat upon the release of the BoE’s report as … Continue reading GBP v USD: Exchange rate tumbles as Carney warns of impact of no-deal Brexit