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Search resuls for: "Brexit"


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Set against a single antagonist, Russia knew what it wanted to achieve and how to set its goals. But for Russia now, the world truly feels “multipolar.” And it’s not very enjoyable. To avoid being caught between the two, Russia hopes to build regional leverage — in West Africa, the Middle East, the Balkans — to enhance its bargaining power for the uncertain future. The West, focused on the old image of Russia as cunning adversary, misses most of this. Strikingly, Moscow’s foreign policy establishment seems to have mostly concluded that the bloc tried to proactively use the anti-corruption activist Aleksei Navalny as its agent to wreck Russia’s political system.
Persons: Xi, Donald Trump’s, , , Fyodor Lukyanov, Putin, Bashar al, Assad, Aleksei Navalny, Navalny Organizations: West, Brexit, European Union, Russia — Locations: Russia, China, Moscow, Sahel, Caucasus, America, West Africa, Balkans, Syria, Saudi Arabia, Europe
Ryanair to Drop London Listing in Wake of Brexit
  + stars: | 2021-11-19 | by ( Ben Dummett | Benjamin Katz | ) www.wsj.com   time to read: 1 min
LONDON—Europe’s largest budget airline, Ryanair Holdings PLC, plans to ditch its London listing, citing low trading volumes and a desire to accelerate efforts to comply with European Union ownership requirements. EU rules call for all airlines based in member states to be at least 50% owned by shareholders from within the bloc, a requirement the Irish carrier has struggled to meet ever since the U.K. split from the EU at the start of last year.
Organizations: Ryanair Holdings PLC, European Union, EU
Ryanair drops London listing, citing costs
  + stars: | 2021-11-19 | by ( ) www.cnbc.com   time to read: +1 min
Passenger aircraft operated by Ryanair stand on the tarmac at London Stansted Airport on May 1, 2020. Ryanair gave notice on Friday of its intention to delist from the London Stock Exchange next month, saying the volume of trading did not justify the costs related to retaining an additional listing. Ryanair said the last day of trading of its shares on the LSE would be Dec. 17. Ryanair said it will continue to hold a primary listing on Euronext Dublin and list its American Depository Receipts (ADRs) on the U.S. Nasdaq. In 2012 it downgraded its listing on the LSE from premium to standard.
Persons: Michael O'Leary, Brexit Organizations: Ryanair, Stansted Airport, London Stock Exchange, BHP, LSE, Dublin, American, U.S, Nasdaq, European Commission, EU Locations: Sydney, Dutch, Britain, Netherlands
French Overseas Minister Annick Girardin leaves after the weekly cabinet meeting at the Elysee Palace in Paris, France, February 19, 2020. REUTERS/Charles PlatiauSummary French minister: Jersey not co-operating enoughFrance eyes compensation for fishermen affected by issueTensions between France and UK on post-Brexit fishingPARIS, Nov 18 (Reuters) - France's Maritime Minister criticised Jersey for not fully co-operating on post-Brexit fishing licences, and said France was eyeing compensation for fishermen hit by the situation, which has caused diplomatic rows between France and Britain. France and Britain have been at loggerheads over the number of licences London allocated to French fishing boats after the UK left the European Union. French Maritime Minister Annick Girardin told a meeting of the French fishing industry at Finistere, Brittany, on Thursday that she regretted Jersey's "limited willingness" to co-operate with France and that compensation packages were being prepared. Tensions caused both France and Britain to dispatch maritime vessels off the shores of Jersey earlier this year, while in October French authorities briefly seized a British fishing boat that had been in French waters.
Persons: French Overseas Minister Annick Girardin, Charles Platiau, Annick Girardin, Jersey's, Laetitia Volga, Sophie Louet, Sudip Kar Organizations: French Overseas Minister, REUTERS, France's Maritime, London, European Union, French Maritime, Gupta, Thomson Locations: Paris, France, Jersey, PARIS, Britain, London, Finistere, Brittany, British
“The upside surprise in the October inflation data supports our expectation that the BoE will hike the bank rate by 15bps to 0.25% at its next MPC meeting on 16 December”, Berenberg economist Kallum Pickering told his clients in a note, saying that “somewhat surprisingly”, market bets for a December hike remained broadly unchanged. While the BoE has a 2% inflation target, consumer prices rose by 4.2% in annual terms in October, accelerating from a 3.1% increase in September. Both the BoE and a Reuters poll of economists had pointed to a reading of 3.9%. Adding to inflation fears, additional data showed British house prices in September were 11.8% higher than a year earlier. At 0950 GMT, sterling traded up 0.02% against the dollar at $1.3430 and was rising 0.11% against the euro at 0.8419 pence.
Persons: Brexit, BoE, Kallum Pickering, BoE Governor Andrew Bailey, Neil Wilson, David Frost Organizations: LONDON, U.S ., Bank of England, European Union, Northern Ireland, Christmas, EU Locations: British, Britain, Northern Ireland, United Kingdom, London
London (CNN Business) Britain looks set to become the first major economy to hike interest rates since the Covid-19 pandemic began after inflation data showed prices rising at the fastest rate in a decade. Driven by higher energy and transport costs, the UK Consumer Prices Index rose by 4.2% in the year to October, according to official data released Wednesday. A rapid recovery in demand following the easing of Covid-19 restrictions, shortages of goods and workers and soaring energy costs are pushing up prices around the world. But the October inflation data was even higher than analysts were expecting. The pound edged up against the US dollar and hit its highest level against the euro since February 2020 as investors bet on an increase in UK interest rates.
Persons: Kallum Pickering Organizations: London, CNN Business, European Union, Bank of Locations: Britain, United Kingdom, Brexit, Bank of England
Britain and the EU will intensify their efforts to break the impasse this week, the European Commission’s Maros Sefcovic said. Analysts were split over how much impact the Brexit tensions were having on the pound, which benefited from a “risk-on” mood in currency markets but lagged behind peers. At 1242 GMT, the pound was up 0.2% versus the dollar at $1.3436, up from the 11-month low of $1.3354 it hit on Friday last week. The gauge is in negative territory which indicates the market expects the pound to fall. Mizuho’s Jones said the pound was also being weakened by investors reducing their expectations for a rate hike in December.
Persons: Maros Sefcovic, , , ” Marshall Gittler, Neil Jones, Mizuho’s Jones Organizations: Bank of, Northern, ING, , BDSwiss, Mizuho, The Bank of England, Reuters Locations: Northern Ireland, Bank of England, Brussels, London, Britain
LONDON (Reuters) - The pound was steady in early trading on Monday, lagging behind other risk-related currencies, as investors focused on talks over post-Brexit trade arrangements for Northern Ireland, ahead of market data later in the week. FILE PHOTO: British five pound banknotes are seen in this picture illustration taken November 14, 2017. Britain and the EU will intensify their efforts to break the impasse this week, the European Commission’s Maros Sefcovic said. Analysts were split over how much impact the Brexit tensions were having on the pound. In the week ahead, markets will be focused on the UK jobs report on Tuesday and CPI data on Wednesday.
Persons: Benoit Tessier, Maros Sefcovic, , , ” Marshall Gittler Organizations: Northern, REUTERS, ING, BDSwiss, of England, Reuters Locations: Northern Ireland, Brussels, London, Britain, U.S
FILE PHOTO: British five pound banknotes are seen in this picture illustration taken November 14, 2017. But the European Commission’s Maros Sefcovic said that he is “absolutely convinced” that Britain and the European Union can break their impasse. At 1605 GMT, the pound was up 0.1% against the dollar at $1.34265, up from the 11-month low of $1.3354 it hit on Friday last week. Versus the euro, it was up around 0.3% at 85.04 pence per euroAnalysts were split over how much impact the Brexit tensions were having on the pound. The gauge is in negative territory which indicates the market expects the pound to fall.
Persons: Benoit Tessier, Maros Sefcovic, , , ” Marshall Gittler, Neil Jones, Reuters . BoE Governor Andrew Bailey Organizations: Bank of, REUTERS, European, Northern, European Union, ING, , BDSwiss, Mizuho, The Bank of England, Reuters . Locations: Northern Ireland, Bank of England, Britain
Winning the European market is what "keeps me awake at night," N26 co-CEO Max Tayenthal said. The challenger bank N26 is set to refocus its attention on the European market after bruising forays into the US and UK. Until recently, N26, like many other fintechs in the US, used a partner bank to offer services in the States. "In the end what keeps me awake at night is how can we win the European market." The UK bank Monzo, which is in the process of raising new funding, recently withdrew its US banking-license application after negotiations with regulators.
Persons: Max Tayenthal, Peter Thiel, Li Ka, fintech, Revolut, Brexit, Valentin Stalf's, Nicolas Kopp, Kopp, Tayenthal, Varo, Robert Le Organizations: Coatue Management, Point Ventures, Axos Bank Locations: Brazil, Belgrade, Serbia, Europe, Hong Kong, London, York, States, Germany
"The EU has been briefing out all of the things that the EU would do if the UK triggers Article 16 unlawfully," Barnard explained. Maros Sefcovic, vice president of the European Commission, addresses a news conference following negotiations over the Northern Ireland Protocol in London on Friday. Nonetheless, there have been supply chain issues and unionists in Northern Ireland feel let down by the government in Whitehall. Vehicles wait to board a ferry to Northern Ireland at the Stena Line Cairnryan Terminal on September 9, 2021 in Cairnryan, Scotland. That was, he said, "the best way forward for stability, sustainability and prosperity in Northern Ireland."
Persons: Boris Johnson, David Frost, Frost, it's, Johnson, hasindicated it's, Maroš Šefčovič, Šefčovič, Catherine Barnard, Barnard, Sefcovic, Frost's, John Major, Major, Emily Lydgate, Ireland's Tánaiste, Leo Varadkar, Varadkar, Carlo Petrucci, Petrucci, Joe Biden, Ursula von der Leyen, Biden, COP26, Lydgate, There's Organizations: London, CNN, European Union, UK, Northern, EU, Reuters, Court of Justice, European Commission, Twitter, Conservative, University of Cambridge, PM, BBC, UN, EU Customs Union, Policy Observatory, University of Sussex, Irish Times, Vehicles, European Court of Justice, University of Essex, European, House Locations: Northern Ireland, United Kingdom, Republic of Ireland, Brussels, Britain, European, France, London, Europe, Washington, Belfast, Republic, British, Whitehall, Cairnryan, Scotland, United States, Ireland, Poland, Hungary
UK chief negotiator David Frost looks on as Britain's Prime Minister Boris Johnson poses for a picture after signing the Brexit trade deal with the EU at number 10 Downing Street in London, Britain December 30, 2020. But he agreed that intensified talks would take place in Brussels next week, and that new energy and impetus were needed. "I acknowledge and welcome the change in tone of discussion with David Frost today, and I hope this will lead to tangible results for the people in Northern Ireland," Sefcovic told a news conference in London after the talks. The EU has cautioned Britain that triggering Article 16 - part of a deal Johnson signed in 2020 - would sour ties with the EU and destabilise Northern Ireland. Ireland has said the free trade deal that was underpinned by the Northern Irish agreement could also be set aside, leading to a possible trade war.
Persons: David Frost, Boris Johnson, Leon Neal, UK's Frost, Sefcovic, Britain's Brexit, Maros Sefcovic, Frost, Johnson, Kate Holton, William Schomberg, Jahnavi, Michael Holden, Gareth Jones, Jon Boyle Organizations: Britain's, Downing, European, Northern, Relations, EU, Ireland, destabilise, European Court, Thomson Locations: London, Britain, European Union, Northern Ireland, Brussels, EU, British, Northern, destabilise Northern Ireland, Ireland, Bengaluru
A European Union (EU) flies alongside a British Union flag, also known as a Union Jack in London. The nature of this border post-Brexit has been a major sticking point in negotiations between the U.K. government and the European Union. Great Britain includes England, Scotland and Wales, but not Northern Ireland; Northern Ireland is, however, part of the U.K. "Northern Ireland deserves stability and certainty, and we are ready to work around the clock to achieve this," the official said. U.K. Brexit Minister David Frost said that all checks on goods moving from Great Britain to Northern Ireland should come to an end.
Persons: Jack, Jason Alden, Boris Johnson, David Frost Organizations: Union, British Union, Bloomberg, European, EU, European Union ., U.K, European Commission, Brexit, Commission, Northern Ireland, European Court of Justice Locations: EU, London, United Kingdom, European Union, Great Britain, Northern Ireland, European Union . Great Britain, England, Scotland, Wales, Ireland, Republic of Ireland, Brussels, Northern
(Adds comments, updates news and rates)LONDON, Nov 10 (Reuters) - Sterling fell on Wednesday as Britain and the European Union looked far from finding a post-Brexit agreement over Northern Ireland, while a surge in inflation sparked U.S. rate-tightening bets, strengthening the dollar. Britain left the EU last year but has since put off implementing some of the border checks between its province of Northern Ireland and EU member Ireland that the bloc says London is obliged to under their divorce deal. Irish government ministers have met to dust off contingency plans in case disagreements between Britain and the EU trigger major trade disruption. Sterling fell 0.6% versus the dollar to $1.3484 by 1635 GMT, and it was not far from a five-week low touched after BoE surprised investors last week by leaving its main interest rate unchanged at 0.1%. The dollar rose against a basket of currencies after U.S. consumer prices surged at their highest rate since 1990, boosting speculation the Federal Reserve could change its view that inflation is transitory and raise interest rates.
Persons: Sterling, Downside, David Frost, parliament’s, BoE, , Jane Foley Organizations: European Union, EU, Northern, ING, Bank, Rabobank Locations: Britain, Northern Ireland, Ireland, London
(Adds more detail)LONDON, Nov 10 (Reuters) - The European Union will extend permission for securities clearing houses in Britain to continue serving customers in the bloc after June next year, the EU’s financial services chief said on Wednesday. After Brexit, the EU granted temporary ‘equivalence’ or market access that allows clearing houses in London to continue serving customers from the bloc until June 2022. But EU financial services commissioner Mairead McGuinness said on Wednesday that more time is needed to build up clearing capacity in the EU. But improving the attractiveness of clearing in the bloc, encouraging more clearing capacity, and reform of supervision would need more time, McGuinness said. The extension to equivalence should be long enough to allow the EU to revise its supervisory system for clearers, McGuinness added.
Persons: Brexit, Mairead McGuinness, ” McGuinness, McGuinness, Huw Jones, Tommy Wilkes Organizations: European, EU, London, European Commission, Deutsche Boerse, clearers Locations: Britain, London, Frankfurt
LONDON, Nov 10 (Reuters) - Sterling edged lower on Wednesday as Britain and the European Union looked far from finding a post-Brexit agreement trade on Northern Ireland, while Bank of England interest rate raise bets ebbed. Britain left the EU last year but has since put off implementing some of the border checks between its province of Northern Ireland and EU member Ireland that the bloc says London is obliged to under their divorce deal. Sterling was under renewed pressure after the Irish government ministers met to dust off contingency plans in case disagreements between Britain and the EU trigger major trade disruption. In its November policy meeting, BoE left its main interest rate unchanged at 0.1% having previously signalled it could raise it. Markets are now pricing a December interest rate rise, but uncertainty remains high.
Persons: Sterling, Downside, BoE Organizations: Sterling, European Union, Bank of, EU, Dublin, Northern, ING, ” ING, Federal Reserve Locations: Britain, Northern Ireland, Bank of England, Ireland, London, British, United States
LONDON — JPMorgan has upgraded U.K. stocks to "overweight," ending years of caution on British equity markets which the bank said are now trading at a "record discount." The Wall Street giant had held a longstanding cautious call on U.K. equities since the Brexit referendum in 2016, before moving to "neutral" in July 2020 after a particularly dire spell for U.K. stocks and after the worst of the coronavirus pandemic. "Within the U.K., we held a longstanding preference for FTSE 250 vs FTSE 100, and fordomestic vs exporters. Matejka's team is funding the upgrade by cutting its exposure to Japan, and picked 25 U.K. stocks to best capitalize on the catch-up trade. "Despite these risks, small caps continue to trade at a very large valuation premium to large caps vs their history," they added.
Persons: Matejka Organizations: LONDON, JPMorgan, Global, European Equity, Barclays, Jupiter Fund Management, Vodafone, British, Credit Suisse, PMIs, Suisse Locations: Japan
Paul Hennessy | LightRocket | Getty ImagesLONDON — Top executives at multiple European blue-chip companies have told CNBC that supply chain problems, labor shortages and inflationary pressures will run for longer than policymakers are expecting. The most recent inflation prints have done little to assuage concerns about stickier inflation. Companies around the world are battling supply chain bottlenecks as a post-pandemic spike in demand converges with industrial production struggling to catch up after lengthy Covid-induced shutdowns. Managing supply problems a 'core competence' Supply chain woes have been exacerbated in different parts of the world by various geopolitical factors. "It is going to be way into 2022 and honestly, my belief is managing the supply chain will be something which will be with us for [a long time]," he said.
Persons: Paul Hennessy, LightRocket, Ahold, Natalie Knight, Knight, Ahold Delhaize, we've, Brexit, Christian Bruch, Bruch, Bill Winters, Winters Organizations: Port, Getty, CNBC, U.S, PPI, Companies, Siemens Energy, CNBC Wednesday, The Bank of England Locations: Savannah, Georgia, United States, U.S, U.S . Federal, Belgian, Dutch, Europe, China
DUBLIN, Nov 9 (Reuters) - Irish government ministers have met to dust off contingency plans in case disagreements between Britain and the European Union trigger major trade disruption, deputy prime minister Leo Varadkar said on Tuesday. The European Union last week said that Britain had made no move to seek a compromise on post-Brexit trade with Northern Ireland and cautioned London against triggering emergency unilateral provisions Anger, tangle and trouble: Is another Brexit showdown looming? “We had a meeting yesterday of the Cabinet subcommittee on Brexit essentially to dust down and restart our contingency preparations should we get into difficulty,” Varadkar told state broadcaster RTE. Asked if the European Union could or should also consider suspending the post-Brexit trade deal, the Trade and Cooperation Agreement, Varadkar said it was something the EU commission “is going to have to consider”. “I don’t think it would be good for us, for Great Britain, and I don’t see how it would be good for Northern Ireland,” he said.
Persons: Leo Varadkar, , ” Varadkar, Varadkar, Johnson, Brexit, Organizations: DUBLIN, European Union, Northern Ireland, RTE, , Trade, Cooperation Locations: Britain, European, Northern, EU, Great Britain, Northern Ireland
"We believe that short-run supply problems faced by the UK will persist and are likely to be exacerbated by Brexit." "We're getting economic management of the UK economy wrong," Chadha said, pointing to years of under-investment in training, housing and infrastructure, especially outside London. "The next few months are likely to bring stuttering growth, rising inflation and widening income inequalities to the UK economy," it said. Such a dispute would intensify supply chain problems and weaken sterling, pushing up inflation and increasing the chance that it becomes entrenched, NIESR said. Its forecasts paint a broadly similar picture for growth to those last week from the Bank of England, but NIESR expects inflation to be slower to fall.
Persons: Gonzalo Fuentes, BoE, NIESR, Jagjit Chadha, Chadha, Boris Johnson, Paul Mortimer, Lee, Mortimer, David Milliken, William Schomberg Organizations: National Institute of Economic, Social Research, Union, EU, Bank of England, of England, Thomson Locations: Cherbourg Harbour, France, Ireland, Cherbourg, Brexit, London, British, Northern Ireland
As each piece of the puzzle is placed into position, the modern world gradually comes into view. But it permits Jones to explore the issues that defined the Middle Ages and demonstrate how each development was a step in the evolution of Europe. “Powers and Thrones” also reminds us why modern scholars cringe at any reference to the term “Dark Ages.” The idea that the early Middle Ages were an era of barbarism and ignorance is refuted by Jones’s vast array of evidence to the contrary. But, in the end, “Powers and Thrones” does what a general history of the Middle Ages should do. It provides the reader with a framework for understanding a complicated subject, and it tells the story of an essential era of world history with skill and style.
Persons: Normandy, Jones, Brexit, Peter Abelard, “ Powers, Henry VIII’s, Powers, Organizations: East, Vikings, Facebook Locations: Rome, Europe, West, North America, Roman, Byzantium
A disused former customs hut is seen on the border between Northern Ireland and the Republic of Ireland in Carrickcarnon, Ireland, October 13, 2021. "Let there be no doubt that triggering Article 16 to seek the renegotiation of the Protocol would have serious consequences." Sefcovic said triggering Article 16 would lead to instability in Northern Ireland and amount to a rejection of the EU's attempt to find a compromise. "We are not going to trigger Article 16 today, but Article 16 is very much on the table," Frost told journalists. A spokesperson for Johnson told reporters Britain would press on with negotiations to try to resolve the issues with the so-called Northern Ireland protocol that governs post-Brexit trade with the province.
Persons: Boris Johnson's Brexit, David Frost, Frost, Sefcovic, Johnson, Guy Faulconbridge, Christian Levaus, Johnny Cotton, Jan Strupczewski, Elizabeth Piper, Gabrela Baczynska, Jan Harvey, William Maclean Organizations: Republic of Ireland, REUTERS, EU UK, LONDON, European Union, Northern Ireland, European Commission, EU, Irish Catholic, Sefcovic, Thomson Locations: Northern Ireland, Republic of, Carrickcarnon, Ireland, BRUSSELS, Northern, United States, Brussels, Britain, London, British, Glasgow
A disused former customs hut is seen on the border between Northern Ireland and the Republic of Ireland in Carrickcarnon, Ireland, October 13, 2021. The emergency measures, called Article 16, allows either side to take unilateral action if they deem their agreement governing post-Brexit trade is having a strongly negative impact on their interests. "We are not going to trigger Article 16 today, but Article 16 is very much on the table," Britain's negotiator David Frost told journalists. "We obviously want to agree consensual solutions on the protocol and we need to resolve these issues urgently, because the disruption on the ground in Northern Ireland hasn't gone away," the spokesperson said. Asked whether it was planning what to do should London trigger Article 16, the Commission - which negotiates with Britain on behalf of EU countries - said earlier this week it always prepares for eventualities.
Persons: pointman, David Frost, Boris Johnson, Northern Ireland hasn't, Frost, Maros Sefcovic, Guy Faulconbridge, Christian Levaus, Johnny Cotton, Jan Strupczewski, Elizabeth Piper, Gabrela Baczynska, William Maclean, Jan Harvey Organizations: Republic of Ireland, REUTERS, EU, Irish Catholic, European Commission, Commission, eventualities, Thomson Locations: Northern Ireland, Republic of, Carrickcarnon, Ireland, BRUSSELS, Britain, London, Brussels, Glasgow
LONDON — On its face, the nasty squabble that broke out last week between Britain and France was over the fishing rights of a few dozen French trawlers plying British waters off the island of Jersey. As with many rivalrous neighbors, however, the root causes of the feud run far deeper. Britain and France have been at odds ever since Britain left the European Union two years ago. They have quarreled over the safety of a British coronavirus vaccine and a submarine alliance that united Britain, Australia and the United States but left an outraged France on the sidelines. For President Emmanuel Macron, the tensions are useful in his bid for re-election in France, given that he faces a challenge from the nationalist right.
Persons: Boris Johnson, Emmanuel Macron Organizations: European Union Locations: Britain, France, Jersey, British, Australia, United States, London, Our, Trafalgar
Most have metrics that can end in success or failure, but not "seize the opportunities of Brexit". Progress against these outcomes are to be reported to the Treasury and the Cabinet Office, the document says. This narrative-based metric is also being used by the Cabinet Office to measure the success of securing a "safe, prosperous and resilient UK", as well as in advancing "equality of opportunity across the UK". Only one Cabinet Office priority outcome, on "increasing the efficiency, effectiveness and accountability of government", has any metrics. The Cabinet Office did not immediately respond to a request for comment.
Persons: Boris Johnson's, Naomi Smith, Brexit, they've, Johnson, Rhys Clyne Organizations: Service, Government, EU, Treasury, Best, Britain, Ministers, Northern, Institute for Government Locations: Northern Ireland
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