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New York Times (December 29)

2021/ 12/ 30 by jd in Global News

UK companies got hit with “higher costs and endless forms” in the first post-Brexit year. “While the worst of the Brexit trade disruptions are over, British exports to the European Union are down and companies are frustrated.”

 

Investment Week (December 21)

2021/ 12/ 23 by jd in Global News

“The asset and wealth management industry is set to face a busy year of regulation, with the impact of recently passed legislation, including sustainability disclosure requirements and new listings rules, combining with that yet to come, such as long term asset funds. Past decisions will also bring change, as LIBOR also comes to an end this year, with very slim exception, while the spectre of Brexit is far from banished.”

 

BBC (October 27)

2021/ 10/ 28 by jd in Global News

“The impact of Brexit on the UK economy will be worse in the long run compared to the coronavirus pandemic.” According to Richard Hughes, the chairman of the Office for Budget Responsibility, “leaving the EU will reduce the UK’s potential GDP by about 4% in the long term” while the impact of the pandemic is forecast as a 2% contraction of GDP.

 

Investment Week (April 9)

2021/ 04/ 11 by jd in Global News

“JP Morgan chairman and chief executive Jamie Dimon claimed Brexit ‘cannot possibly be a positive’ for the UK in the short term as he warned that the investment bank may one day move all European business out of London.” The bank’s 19,000 UK employees include 12,000 in London.

 

Reuters (February 15)

2021/ 02/ 16 by jd in Global News

“Brexit-supporting City figures hoping for a regulatory bonfire seem likely to be disappointed…. The BoE’s first deviation from EU law was to make the rules tighter, not looser. The supervisor also recently ruled out a big capital reduction for insurers. London may end up being smaller, but at least it will be safer.”

 

Guardian (February 10)

2021/ 02/ 11 by jd in Global News

“Across the UK, firms and consumers are discovering costs of Brexit that Mr Johnson denied. That denial was born of a failure to understand the trade-off between regulatory autonomy and market access. The prime minister swapped seamless trade for notional sovereignty and passed the cost on to unsuspecting businesses. Naturally, he wants to blame the EU for any pain. These are not teething troubles in implementation of the deal. They are the deal.”

 

Economic Times (December 21)

2020/ 12/ 22 by jd in Global News

“The United Kingdom has endured in one form or another for hundreds of years but between Brexit and the coronavirus, the country is creaking and some suggest it may be on the verge of breaking up entirely.”

 

Wall Street Journal (December 17)

2020/ 12/ 19 by jd in Global News

“Who wins from Brexit? New York.” No matter how “current negotiations between the U.K. and EU end, U.S. swap exchanges stand to gain European business.”

 

Reuters (December 13)

2020/ 12/ 14 by jd in Global News

“A final Brexit without a trade deal would damage the economies of Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains across Europe and beyond.” British Prime Minister Boris Johnson and EU Commission President Ursula von der Leyen agreed to extend talks beyond Sunday. “With a succession of deadlines missed, time is now critically short.”

 

Financial Times (December 10)

2020/ 12/ 11 by jd in Global News

“When the dust settles on the UK’s departure from the EU, few doubt that London will remain a major financial centre for the foreseeable future, as well as by far the largest hub in the European timezone, but there will doubtless be headwinds.”

 

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