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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.”


CNN (November 10)

2020/ 11/ 13 by jd in Global News

“Johnson has mismanaged Covid, Brexit and the economy. Now his inner circle is falling out…. The political storm surrounding Johnson and his team of advisers broke on the same day that the UK’s coronavirus death toll passed the eyewatering 50,000 figure.” The shakeup could signal an eventual concession to the EU on Brexit as “the simplest route to a breakthrough that would lead to a deal.”


Investment Week (October 20)

2020/ 10/ 22 by jd in Global News

“The UK’s credit rating has been downgraded by Moody’s amid a looming economic hit from the coronavirus pandemic and the forthcoming Brexit deadline.” The UK’s sovereign debt status dropped “one notch to Aa3, from Aa2,” with the ratings agency “noting that Britain’s growth has been meaningfully weaker than expected and is likely to remain so in the future.”


The Guardian (October 2)

2020/ 10/ 04 by jd in Global News

“Is there still time for a Brexit trade deal?” Scheduled talks have ended with only 90 days left until the transition period ends. The chances of a deal are now “as finely balanced as the original Brexit vote itself: around 50/50. Big political choices are yet to be made – and the chances of the two sides arguing themselves out of time cannot be ruled out.”


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