By Ellen Proper (Bloomberg) -- The Port of Rotterdam, Europe’s biggest shipping port, warned companies on both sides of the Channel that they aren’t doing enough to prepare for Britain’s exit from the European Union, as it plans a test of its facilities to make sure it’s ready for the worst. “If the companies don’t prepare, then we will be in deep trouble,” Mark Dijk, the … [Read more...]
UK To Spend $100+ Million to Explore GPS/Galileo Alternative
Image of an EU Galileo gnss global positioning satellite. Britain may be denied full access to the EU's Galileo satellite navigation system on security grounds after Brexit and this may cost UK firms billions of pounds, hundreds of jobs and create national security problems for the nation. In light of this the British government announced that it will spend over $100 million … [Read more...]
Ship Insurer UK P&I Club Opts for Rotterdam as Hub Due to Brexit
By Jonathan Saul LONDON, Aug 6 (Reuters) - British ship insurer UK P&I Club is in the process of setting up a subsidiary in the Dutch port city of Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, its chief executive said. Britain dominates the global marine insurance market and losing access to … [Read more...]
Bank of England’s Carney Sees “Uncomfortably High” Risk of No-Deal Brexit
By Andy Bruce LONDON, Aug 3 (Reuters) - Bank of England Governor Mark Carney said on Friday Britain faces an "uncomfortably high" risk of leaving the European Union with no deal, comments that drove sterling to an 11-day low against the dollar. With less than eight months until Britain quits the EU, the government has yet to agree a divorce deal with Brussels and has stepped … [Read more...]
Siemens UK Boss Says Clarity Needed on Post-Brexit Trade
By Guy Faulconbridge LONDON, June 20 (Reuters) - The United Kingdom needs to urgently clarify how trade with the European Union will work after Brexit, and the world's fifth-largest economy should remain in the customs union unless there is a proper alternative, the boss of Siemens UK said. With only nine months left until the United Kingdom is due to leave the EU, … [Read more...]