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The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".
Twenty companies have announced plans for no-deal scenario but true number could be higher. Financial services firms are preparing to move £800bn of assets out of Britain to Europe as part of Brexit contingency plans, a report has revealed.
Property sector hit hardest, followed by financial services, leisure and culture, research finds. / The number of UK businesses in “critical” financial distress jumped 17 per cent over the year to the end of March, with a significant deterioration seen in the first quarter of 2019 as Brexit uncertainty deepened.
Banks in Britain are showing signs of restarting preparations for a no-deal Brexit after a lull in the shift of financial services jobs and capital from Britain to the European Union in the past few months, consultants EY said on Wednesday.
UK could trade its fishing rights for financial services access after Brexit, EU trade chief suggests
14/01/2020
Britain could end up giving EU fishing fleets access to its waters in exchange for favourable terms on the continent for City financiers, the bloc's trade chief has suggested.
Are banking jobs moving out of London because of Brexit? An updated report from thinktank New Financial suggests they are: New Financial says 332 financial services firms have already moved jobs out of London because of Brexit, up from 60 last time they looked in March.
New York surges ahead of London as world’s top finance hub as Brexit undermines confidence
28/01/2020
Survey of top bankers and asset managers puts Wall Street in front of the City as favoured location for financial services.
The European Union swiftly rebuffed calls from the UK government that London's financial services firms should enjoy continued access to the single market even if the country breaks away from the bloc's rules after Brexit.
EU chief Brexit negotiator scotches hopes of special deal for City of London.
'No matter which sector you talk to - from video games to abattoirs, broadcasters to supermarket delivery, financial services to care - they all say the same thing: We need access to people.'
Financial services companies must accept EU regulations if they want access to continental markets post-Brexit, Barnier says
26/02/2020
Checks and controls on all UK exports to EU whether or not trade deal struck, says Brussels negotiator.
Britain’s financial services sector should be ready for a no-deal Brexit when a transition period with Brussels expires in December, a senior European Union official said on Wednesday.
Deadline to agree regulatory equivalence for financial services and allow business after Brexit likely to be missed.
Bank sees little chance of financial services deal with EU.
The European Union is ready for every type of Brexit, including granting no further EU access to Britain’s financial sector, the bloc’s candidate for financial services chief said in a document seen by Reuters.
Equivalence permits for UK financial services unlikely to be ready by January 1st.
Relocation to Amsterdam will give better access to European markets ‘regardless of Brexit outcome’.
'There is no threat to the Erasmus scheme, and we will continue to participate in it.' - Boris Johnson [1 min]
26/12/2020
What did Johnson say about Erasmus in January? / "The hon. Gentleman is talking through the back of his neck. There is no threat to the Erasmus scheme, and we will continue to participate in it. UK students will continue to be able to enjoy the benefits of exchanges ..."
Key questions about UK’s relationship with EU still unanswered, experts warn, after deal published
27/12/2020
Spider’s web of new committees, working groups and arbitration tribunals hints at further negotiations.
PM says agreement ‘does not go as far as we would like’ over sector’s access to EU markets.
Brexit trade deal: what does it mean for UK businesses, from fishing boats to financial services?
30/12/2020
From 1 January firms face a barrage of new red tape while others are still waiting on vital decisions about how they will trade with the EU in the post-Brexit era.