The British Financial Industry could lose up to £38 billion (43 billion euro) in revenue if the UK undergo a so-called “Hard Brexit” restricting access to the European single market. This will result in the UK being subject to both tariffs and non-tariff barriers. A report by Oliver Wyman ordered by the industry lobby group TheCityUK, summaries two different outcomes following a “Hard Brexit”. One outcome would see the UK cut all ties with the single market. If this were to happen, revenue may fall by £20 billion causing a…Read More
British pharmaceutical companies are weathering the turmoil of Brexit that has engrossed every other sector in the stock market. Big players such as AstraZeneca, GlaxoSmithKline, Shire and BTG actually enjoyed a slight rise in their share prices on the EU referendum results day while many of their blue-chip counterparts’ prices plunged.Read More
Theresa May has been appointed as the new Prime Minister of the United Kingdom, only the second woman PM in the history of the UK.
As she begins post Brexit there will be no time for May to relax as there are pressing issues to be dealt with as soon as possible.
She will need to appoint a team to lead the process of exiting the EU.Read More
At the first meeting of the EU Summit earlier this week, the UK Prime Minister David Cameron used his last meeting there to voice his disappointment that he failed to win his side of the referendum. However the EU leaders said there would be no turning back for the UK.Read More
The European currency has become unusual safe haven in during in the rise of volatility that has conquered the world currency markets in the recent months. Assets ranging from Japanese stocks to emerging-market bonds to U.S. Treasuries have slumped this spring, as investors brace for the possible pullback from easy-money policies by the world’s major central banks. At the same time the euro has largely avoided the high volatility of the dollar and the yen and has appreciated to reach $1.3345 at Friday. This move constitutes a dramatic reversal for…Read More