Thomson Reuters, which operates trading systems for financial institutions around the world, is moving its foreign exchange derivatives trading business to Dublin from London. The company said it was moving so that post-Brexit it would still be regulated by European Union rules and could continue to sell into the EU.
Peers should not undermine the will of those who voted Brexit, a senior minister has said after the UK Government suffered 14 defeats over key legislation. Commons Leader Andrea Leadsom said the Lords has made significant improvements to the European Union (Withdrawal) Bill, which transfers EU law into UK law, linked to devolution.
United Kingdom ministers are unilaterally considering stopping EU access to the Galileo satellite earth station in the Falklands and Ascension, according to reports in the UK press. The move comes after Brussels chief Brexit negotiator, Michael Barnier, stated that UK companies would have to be excluded from the development of sensitive Galileo infrastructure following Brexit due to security concerns.
Britain will remain a “very important pillar” of the United Nations after Brexit, the organization's secretary general has said. Antonio Guterres’s comments appear to contradict the fears of some opponents of Brexit that the UK’s withdrawal from the EU might throw into question its position as one of the five permanent members of the UN Security Council, alongside the US, Russia, China and France.
Britain’s two main parties emerged from May 3 local elections in England in a draw, with Labor making gains but failing to capture target councils from the Conservatives. Ukip (Independent party) was almost wiped out, losing all but three of its 126 seats, but the Liberal Democrats had a good night, gaining 75 seats and winning control of four more councils.
Theresa May has asked officials to draw up revised proposals for post-Brexit customs arrangements after a key meeting with her most senior ministers. The Brexit sub committee met on Wednesday to try to agree on a new model to replace the UK's membership of the customs union.
Internal divisions on Gibraltar within Spain’s ruling Partido Popular have been laid bare in two versions of a parliamentary motion to be debated in the Foreign Affairs Commission of the Spanish Senate on Thursday.
The European Union economy slowed in the first quarter of the year, official Eurostat figures have showed. Economic growth in the Euro zone slowed to 0.4% for the period from January to March 2018, compared with 0.7% in the previous quarter. Growth in the 19-country single currency bloc reached 2.5% year-on-year.
Senior Brexiteer MPs have delivered an “ultimatum” demanding Prime Minister Theresa May drops one of the government's preferred post-Brexit customs options. A 30-page document passed to the BBC says a “customs partnership” would make meaningful trade deals “impossible” and render the International Trade Department “obsolete”.
The EU’s chief Brexit negotiator Michel Barnier has said that there is “a real risk” that no agreement will be reached with the UK in talks on its withdrawal from the political bloc. Speaking on a visit to the Border area of Ireland, Mr Barnier said that the EU was preparing for all options, including the possibility that Brussels and London cannot reach a deal on the UK’s departure in March 2019.