EU halts legal action against UK over Northern Ireland

The EU has agreed to a standstill in legal action against the UK for breaches to the Northern Ireland protocol, Euronews has learned. The European Commission initiated infringement proceedings against the UK government last March after it unilaterally extended Grace Periods on goods no longer allowed to be exported to Northern Ireland due to Brexit. … Continue reading EU halts legal action against UK over Northern Ireland

Investors betting huge amounts on Brexit

Investors in British companies are taking a stand against cheap takeovers. Shares in UK-listed groups like Spire Healthcare (SPI.L) and Vectura (VEC.L) are trading above the price of recently agreed offers. Big shareholders including Allianz Global Investors complain that some deals are too cheap, while merger arbitrageurs are betting on higher bids. But buyers have good reasons to hold … Continue reading Investors betting huge amounts on Brexit

Brexit is a messy divorce for EU and UK

Brexit now a messy divorce for UK and EU

When Britons voted for Brexit in 2016, they were promised a smooth transition to a new economic relationship with the European Union. Now the two sides are hurtling toward a tumultuous split that threatens billions worth of trade and hundreds of thousands of jobs. An outcome almost no one wants looks increasingly hard to avoid, … Continue reading Brexit now a messy divorce for UK and EU

Irobiko Chimezie

Brexit Update: UK agrees to remove law-breaking clauses in legislation

The UK has agreed to remove the law breaking elements of a piece of Brexit legislation that had been threatening to derail the prospect of a free trade deal with the EU and US. Boris Johnson's government has agreed "in principle" to remove controversial aspects of the UK Internal Market Bill, meaning there has been a resolution … Continue reading Brexit Update: UK agrees to remove law-breaking clauses in legislation

Brexit

Why the EU and UK are still arguing over Brexit

It’s more than four years since Britain voted to leave the European Union, and almost a year since Prime Minister Boris Johnson won an election by vowing to “get Brexit done.” Spoiler alert: It is not done. As negotiators from the two sides hunker down for their final weeks of talks on an elusive trade … Continue reading Why the EU and UK are still arguing over Brexit

Britain and Japan consolidate trade agreement for post-Brexit era

Japan and Britain signed a bilateral free trade deal Friday in the the first such major post-Brexit deal, reducing tariffs on Yorkshire lamb sold in Japan, as well as auto parts for Japan’s Nissan plant. “How fitting it is to be in the Land of the Rising Sun to welcome in the dawn of a … Continue reading Britain and Japan consolidate trade agreement for post-Brexit era

Boris: Get ready for no-deal Brexit

British Prime Minister Boris Johnson said on Friday that the time has come for the UK to “get ready” for a no-deal Brexit on Jan. 1.  Reading a statement from Downing Street, Johnson said: “From the outset, we were totally clear that we wanted nothing more complicated than a Canada-style relationship based on friendship and … Continue reading Boris: Get ready for no-deal Brexit

The UK govt spent a whopping €5b on Brexit

The UK's National Audit Office (NAO) has released a report showing that government departments spent at least £4.4 billion (€5.08 billion) preparing for the United Kingdom's exit. In the 32-page report, published on Friday (March 6), the office said it had asked all 18 central government departments and two non-ministerial departments to provide information on the cost … Continue reading The UK govt spent a whopping €5b on Brexit

Irobiko Chimezie

UK threatens to boycott trade negotiations with EU

Britain laid out its opening demands for upcomingtrade talks with the European Union on Thursday,including a blunt threat to walk away from the negotiating table if there is no progress within four months. The two sides appear headed for a rocky first round of negotiations as they try to forge a new relationship following the … Continue reading UK threatens to boycott trade negotiations with EU

A major post-Brexit challenge for the EU

The Brexit drama shook the foundations of the European Union for years and laid bare the need for much-delayed political renovations at the 27-nation bloc. But now that Britain has finally left, where does the EU revamp even start and who is going to foot the bill? Those questions loom large for EU officials and … Continue reading A major post-Brexit challenge for the EU