LONDON (REUTERS) - Japan's Shinzo Abe said on Thursday (Jan 10) that the world did not want to see a disorderly Brexit and that he fully supported British Prime Minister Theresa May's withdrawal deal from the European Union now facing defeat in parliament. Some of Japan's leading companies in Britain have warned that a no-deal Brexit could be a disaster. After meeting May in London, Abe said it was scenario no one wanted to see. "It is the strong will of Japan to further develop this strong partnership with the UK, to invest more into the country and to enjoy further economic growth with the UK," Abe said through a translator at a news conference alongside May. "That is why we truly hope that a no-deal Brexit will be avoided and, in fact, that is the wish of the whole world." Japanese firms have spent more than £46 billion (S$80 billion) in Britain, encouraged by successive British governments since Margaret Thatcher promising them a business-friendly base from which to trade … [Read more...] about After meeting Britain’s May, Japan’s Abe says world does not want no-deal Brexit
Why does uk want to leave eu
Companies have started stockpiling goods to safeguard against the possibility a disruptive no deal Brexit. Samuel Tombs, the chief UK economist at Pantheon Macroeconomics, says clients have asked him if the stockpiling of goods could actually give a short-term boost to the economy. Tombs is unconvinced andoutlines four reasons why company stockpiles are unlikely to help UK growth. LONDON – With the odd exception, the vast majority of economists covering Britain are agreed on one thing – that a disorderly, “no deal” Brexit will be bad news for the British economy. However, one of the UK’s top economic research houses said clients are asking about a counterintuitive argument that a no deal outcome could actually be good for the economy. “We have been asked several times in recent days whether a pick-up in stockbuilding, as part of businesses’ contingency planning for a no-deal Brexit, could cause the economy to … [Read more...] about There’s a counterintuitive argument that preparations for a nightmare Brexit will actually be good for the UK economy
LONDON: Brexit Secretary David Davis has resigned because he was not willing to be "a reluctant conscript" to Prime Minister Theresa May's European Union exit plan, delivering a blow to a British leader struggling to end divisions in her cabinet.Below are key facts about Davis' role in government and why he was an important ally for Prime Minister Theresa May:- Davis, 69, was a surprise appointment to May's cabinet when she took power in 2016, shortly after Britons had voted in favour of leaving the European Union. He had not held a government post for 19 years prior to his appointment.He took on the most senior ministerial role in the newly created Department for Exiting the European Union, and was tasked with negotiating an exit deal with Brussels and a future relationship with the bloc.- Davis campaigned to leave the European Union during the 2016 referendum, and was one of three leading pro-Brexit ministers brought back into government by May.Dubbed 'the three Brexiteers', Davis, … [Read more...] about David Davis quits UK government: Who is he and why does he matter?
caption Britain’s Secretary of State for Exiting the European Union David Davis (L), Britain’s Prime Minister Theresa May, European Commission President Jean-Claude Juncker and European Union’s chief Brexit negotiator Michel Barnier (R) meet at the European Commission in Brussels, Belgium December 8, 2017. source REUTERS/Eric Vidal Explained: The Brexit “backstop” and why it could be the difference between deal or no deal. The EU wants Britain to agree to a fallback option for avoiding a hard Irish border. However, the EU’s demands are political suicide for Theresa May, while the UK’s demands are unacceptable to Brussels. There will be no withdrawal deal unless the two sides find a compromise. LONDON – With just a few months left to run in Brexit talks, a number major issues are still a long way from being resolved. Chief among them is the … [Read more...] about Here’s why the Brexit ‘backstop’ is now the most important issue facing Britain
CBI chief Carolyn Fairbairn tells Business Insider that “We’ve got very, very little time” to get Brexit right. “We really are running out of time. We would say we have completely run out of time by October.” If Theresa May cannot strike a deal in 70 days the then UK risks real damage to jobs and prosperity, she says. Companies are already removing investment from the UK. Getting the Conservative government to understand the needs to business “has been a journey, it really has been a journey,” she says. DAVOS, Switzerland – Between January 31 and February 2, UK Prime Minister Theresa May will visit China in hopes of continuing the “golden era” of trade relations between the two countries. Accompanying her on that trip will be Carolyn Fairbairn, director general of the Confederation of British Industry, the business lobby group that … [Read more...] about CBI chief Carolyn Fairbairn has a ‘desperate’ message for Theresa May: You’ve got only 70 days to get Brexit right