UK Prime Minister to Be Forced to Request 3-Month Brexit Delay: EU Sources

Article 0 Comments The European Union expects U.K. Prime Minister Theresa May to be forced to request a three-month delay to Brexit, two EU officials said. Discussions between the two sides suggest May will ask for an extension to the two-year negotiating period if the British Parliament backs the Brexit […]

Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

Article 0 Comments England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part […]

UK-EU Negotiators Work to Find Brexit Deal Compromise with Time Running Out

Article 0 Comments U.K. and European officials are working on a new legal text for the most contentious part of the Brexit deal, but time is running out for Prime Minister Theresa May to persuade a fracturing Parliament to unite behind her plan. As May sent ministers to seek concessions […]

Insurer Lancashire to Use Lloyd’s EU Hub in Brussels After Brexit

Article 0 Comments Property and casualty insurer Lancashire Holdings Ltd will use insurance market Lloyd’s of London’s European Union hub in Brussels after Britain leaves the European Union, its top boss told Reuters. “We have negotiated with Lloyd’s and we will write businesses that are affected by Brexit through our […]

UK PM May Scrambles to Find Brexit Compromise as Clock Ticks Down

Article 0 Comments British Prime Minister Theresa May is preparing to compromise with the European Union over the future of Ireland’s border, with just two weeks left to save her Brexit deal. Brexit Secretary Stephen Barclay privately told the EU’s chief negotiator, Michel Barnier, on Monday the U.K. doesn’t need […]

What’s Next for Brexit? Options Include Disorderly, Delayed or No Brexit

Article 0 Comments Britain’s parliament last month demanded Prime Minister Theresa May renegotiate a Brexit divorce deal that the other members of the European Union say they will not reopen. With just six weeks until the United Kingdom is due by law to leave the EU, the options include a […]

UK Insurer Aviva Prepares for ‘Hard Brexit’ by Transferring Assets from UK

Article 0 Comments Aviva Plc asked a London court to approve the transfer of assets totaling 9 billion euros ($10.2 billion), saying the uncertainty from Brexit was “intensifying” as it joined other insurers and banks triggering contingency plans. Aviva asked Judge Richard Snowden for permission to move the life-insurance policies […]

EU Markets Regulator Seeks Rapid Response Powers for Post-Brexit Problems

Article 0 Comments The European Union’s markets regulator urged lawmakers on Wednesday to give it “rapid” response powers to deal with problems that may arise after Brexit. The European Parliament has proposed that the European Securities and Markets Authority (ESMA) should have powers to issue “no action letters” that tell […]

Brexit Takes a Heavy Toll on UK Economy: Office for National Statistics

Article 0 Comments Mounting uncertainty over Brexit is weighing heavily on the British economy, which slowed last year to its weakest growth rate since the aftermath of the global financial crisis, official figures showed Monday. The Office for National Statistics said that the British economy grew by a quarterly rate […]

Brexit Uncertainties Create Potential Legal Nightmare for UK Exporters

Article 0 Comments Business is brisk at Nim’s Fruit Crisps. Pineapples are imported from Costa Rica, kiwis from Italy and oranges and lemons from Spain. They’re then turned into healthy snacks for export to Israel, South Africa, Hong Kong and elsewhere. You wouldn’t know that the company in southeast England […]