Spanish Prime Minister Mariano Rajoy said he expected Britain and the European Union to progress soon into the next phase of Brexit negotiations, despite Prime Minister Theresa May’s problems in getting the political backing at home to move ahead.
Britain’s regulators will convert banking and insurance rules inherited from the European Union after Brexit to make them more tailored to the British market, Bank of England Governor Mark Carney said on Wednesday. Carney said Britain had long expressed opposition to the EU’s cap on banker bonuses, the full application of banking capital rules on smaller lenders and the bloc’s insurance capital rules.
Australia has criticized UK's post-Brexit trade plans to split quotas of food imports from around the world. EU rules allow for a certain amount of goods to be brought in from countries outside of the Union without charging full tariffs, but after Brexit, the UK and EU want to split these quotas, based on where the goods are mostly consumed.
With whisky boosting the UK economy by about £5 billion a year, Scottish Secretary David Mundell said ministers are keen to open up new markets around the world for the iconic drink. He spoke out ahead of a meeting on the island of Islay, in the Hebrides, which is home to several distilleries.
An estimated twenty European Union countries are expected to submit bids to provide a new home for two agencies that will be relocated from the UK after Brexit. The European Banking Authority (EBA) and European Medicines Agency (EMA), based in Canary Wharf in London, employ just over 1,000 staff between them.
As the United Kingdom begins contacts to negotiate new trade deals as it leaves the EU in 2019, food will be one of many areas that will need to be addressed. The ongoing spat over chlorine chicken highlights how tastes and safety practices around the world can differ hugely, since what might seem normal practice in one country can seem problematic elsewhere.
Concerns about tariffs on Falklands exports post Brexit, and political consequences were outlined by a Falklands' representative giving evidence to a House of Lords committee (the European Union Select Committee) last Tuesday.
A new decision in the European Court of Justice could complicate Theresa May’s task of securing a post-Brexit trade deal with the EU. The Luxembourg-based court has ruled that a free trade deal reached with Singapore in 2013 must be ratified by member states.
The Gibraltar Government is calling on Britain’s political parties to make “clear and explicit commitments” to Gibraltar in their manifestos for the June 8 general election. Chief Minister Fabian Picardo said his government would seek assurances on Gibraltar’s post-Brexit future from parties contesting the UK election.
Lloyds Banking Group has decided to set up a European base in Germany after the UK leaves the EU, according to the BBC. Lloyds has decided to convert its Berlin branch into a European hub, in order to maintain a presence inside the EU, sources told the BBC.