By leaving the European single market on New Year's Day, the United Kingdom concluded a chapter first opened four and a half years earlier.
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Despite Britain sealing a post-Brexit deal with the European Union, one that will allow for tariff-free trade in goods, some British firms are considering fully or partially relocating their businesses to mainland Europe, saying they fear for their prospects if they don’t.
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The European Union and the United Kingdom came to a last-minute trade deal on Christmas Eve, narrowly averting the hardest of all potential Brexits. But major uncertainty remains.
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The European Commission has put forward today its proposal for a Brexit Adjustment Reserve, as agreed by the European Council in July, to help counter the adverse economic and social consequences – at the end of the transition period on 31 December 2020 - in the Member States and sectors that are worst affected.
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While the Commission will continue to do its utmost to reach a mutually beneficial agreement with the UK, there is now significant uncertainty whether a deal will be in place on 1 January 2021.
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Ryanair Holdings plc reported a H1 loss of €197m, compared to a PY H1 profit of €1.15bn. Highlights of this 6-month period include:
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JP Morgan Chase & Co is reportedly set to move $234bn (£184bn) assets from the United Kingdom to Germany as a result of Britain’s exit from the European Union.
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