Edition:
United Kingdom

The road to Brexit

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Britain needs transitional deal with EU, to end before next election - Fox

LONDON British trade minister Liam Fox said on Sunday that he backed a transition agreement to smooth Britain's departure from the European Union, but it would have to come to an end before the next election due in 2022.

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French banks pledge 1,000 post-Brexit jobs in Paris

PARIS French bankers pledged to create 1,000 jobs in Paris as part of a plan to shift their operations out of London once Britain leaves the European Union, following a meeting with France's finance minister, Bruno Le Maire.

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Britain to link future farm support to environmental benefits

LONDON Future financial support for British farming would be linked to environmental benefits rather than land ownership, government minister Michael Gove said on Friday.

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UK launches consultation on new aviation strategy for post-Brexit world

LONDON Britain launched a consultation over its long-term aviation strategy on Friday, seeking input on topics from baggage to the environment as it prepares the sector for life outside the European Union. | Video

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Bank of America picks Dublin as EU base after Brexit

LONDON/DUBLIN Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc.

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Inflation hits UK public finances in June, adding to Hammond's headache

LONDON Britain's budget deficit came in wider than expected in June as higher inflation since the Brexit vote forced the government to pay more interest on its debt, driving home the challenge facing Chancellor Philip Hammond.

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Reuters poll - One-in-three chance Britain-EU divorce talks end with no deal: economists

LONDON There is a near one-in-three chance Britain and the European Union will have failed to ink a deal when the official divorce negotiation period draws to a close at the end of March 2019, a Reuters poll of economists found.

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UK sidelined as Europe looks beyond Brexit in aerospace

PARIS Britain risks losing clout in the aerospace industry, one of its largest skilled employers, due to concerns over its departure from the European Union, a corporate overhaul at Airbus and a new Franco-German push on defence, industry insiders say.

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UK property funds planned poorly for Brexit vote turmoil - watchdog

LONDON Asset managers did not plan properly or have clear procedures for valuing their property funds under stressed market conditions such as those in the aftermath of Britain's June 2016 vote to leave the European Union, the UK's markets watchdog said on Thursday.

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Merkel may win election, but lose her finance minister

SASBACHWALDEN, Germany Wolfgang Schaeuble has won his parliamentary seat a dozen times, survived an attempt on his life and guided Angela Merkel through the euro zone crisis. Now, the German chancellor may have to sacrifice him to secure a coalition deal.

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Free movement of people to continue for at least two years after Brexit - media

LONDON The free movement of European Union citizens to Britain will continue for at least two years after Brexit as part of a transitional deal, British media reported on Friday.

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Citigroup, Deutsche Bank beef up Frankfurt presence in Brexit response

LONDON/FRANKFURT Two global banks, Citigroup and Deutsche Bank , are beefing up their presence in Frankfurt to deal with the impact of Britain leaving the European Union.

Factbox - Impact on banks from Britain's vote to leave the EU

Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country's planned exit from the European Union.

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Banks hope to keep staff in London if soft Brexit deal struck

LONDON Banks which are shifting operations to avoid disruption once Britain leaves the European Union hope only a handful of people will eventually have to leave London, industry sources say.

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Jaguar Land Rover opens first overseas engine plant

LONDON Jaguar Land Rover opened its first overseas engine plant on Friday, picking China for the investment a week after saying it would build a global model entirely outside Britain for the first time.