Liam Fox puts pen to paper on a trading agreement for post-Brexit era…. with the Faroe Islands

Liam Fox has finally put pen to paper on a post-Brexit trade agreement. The Secretary of State for International Trade signed a continuity agreement with the Faroe Islands which will see British businesses and consumers benefitting from continued trade with the archipelago after we leave the European Union. Britain imports some £200 million worth of fish and crustaceans from the islands, which will remain unhinged following the UK's divorce with the union. Imports from the United Kingdom to the Faroes had a total value...

Brexit & global economic concerns cause UK economy to stall

UK's service sector stagnated in January according to the IHS Markit/CIPS purchasing managers' index. The figures showed a reading of 50.1 in January, lower than December's 51.2. The pound fell 0.17 per cent to $1.3017 following the disappointing data. Britain’s didn't fall into a recession after the 2016 referendum vote  However, growth slowed sharply in late 2018 as the Brexit deadline approached with no agreement, on how to leave the European project, set in place. IHS Markit's Chris Williamson said: "Growth...

Architect of Good Friday Agreement plans to take government to court over Irish backstop

One of the most influential architects of the Good Friday Agreement has told the BBC he is planning to take the government to court over the Irish backstop proposals included in the current Brexit deal. Former First Minister of Northern Ireland Lord David Trimble, who was jointly awarded the Nobel Peace Prize for his work in the negotiations, told Laura Kuenssberg that the Irish protocol, including the backstop, contravenes the GFA (also known as the Belfast Agreement) and that he plans to bring the government...

No imminent meetings planned between EU & May admits Downing Street

Number 10 has admitted there are no imminent meetings planned between the Prime Minister and other EU leaders. However, the PM is still hoping she can secure concessions on the Northern Ireland border by next week. Theresa May is due to visit Northern Ireland tomorrow to try to win support for her new Brexit plans, but it is yet to be seen if the EU will even consider them. Angela Merkel speaking from Tokyo today said: "We want to do everything to ensure...

Nissan won’t build new car in Sunderland – Brexit ‘not helping’ decision

In a fresh blow to the North East economy it has been announced that Nissan won’t make the new X-Trail vehicle at their Sunderland car plant. There are a number of reasons for the decision but uncertainty over Brexit was one of the factors that contributed to the change of plans. The car maker has originally planned to build the new range in the North East, and could have led to an expansion of the workforce. Nissan's Europe division boss...

Nearly 30 years-worth of Britain’s net EU budgetary contribution has just been lost in one click

Nearly 30 years-worth of Britain’s net EU budgetary contribution was lost in one click this week after Barclays announced it is to move €190 billion (£166 billion) worth of assets from the UK to Ireland in preparation for a possible no-deal Brexit. The bank said it "cannot wait any longer" to implement its Brexit contingency plan, which was approved by the high court on Wednesday. Assets linked to around 5,000 clients will be moved to a Dublin-based unit, which is expected...

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