Brexit

Activist state looms over Rothschild’s latest hire

9 Dec 2020

The investment bank, whose alumni include French President Emmanuel Macron, has deep links with governments. Hiring Mark Sedwill, Britain’s former top civil servant, continues the tradition. As politicians exert more influence over business, his perspective will prove valuable.

Corona Capital: Brexit curveball, Sonos

19 Nov 2020

Concise views on the pandemic’s corporate and financial fallout: a Covid-19 scare for European Brexit negotiators puts an already-optimistic deadline to the test; and wireless-speaker maker Sonos joins the list of companies profiting from consumers being stuck indoors.

Britain’s Brexit dilemma outlasts its architect

13 Nov 2020

Dominic Cummings, who masterminded the campaign to leave the EU, quit as Prime Minister Boris Johnson’s adviser. Joe Biden’s U.S. election victory makes an antagonistic Brexit look even more foolish. Yet the most economically damaging outcome is only a little less likely.

Brexit brinkmanship revives risk of worst outcome

7 Sep 2020

Talks with the European Union over a trade deal are at an impasse. Now Boris Johnson’s government is planning legislation which would undermine the prime minister’s exit agreement, the FT says. It may be a negotiating ploy. Even so, it means a chaotic Brexit is back on the table.

New City watchdog head fits UK’s Brexit challenge

22 Jun 2020

The financial regulator’s next CEO will be Nikhil Rathi, an ex-Treasury official who runs London’s stock exchange. His background suggests PM Boris Johnson sees the need to help Britain’s hub after the EU exit. That may also make it harder to resist pressure for lower standards.

Irish election fight ducks Brexit but victor won’t

4 Feb 2020

Prime Minister Leo Varadkar may be ousted at the weekend. The campaign has been dominated by housing and healthcare concerns and politicians of all stripes are responding with spending pledges. The winner will struggle to deliver unless Britain’s EU trade negotiations go well.

EU offers Johnson a few crumbs in Brexit talks

3 Feb 2020

The bloc wants the United Kingdom to abide by its standards and state aid rules, and give up fishing rights, in return for a tariff-free trade deal. It’s hard to square with the prime minister’s goals. Yet Brussels has left some wiggle room. And Johnson has compromised before.

Corbyn loss offers economic pointers for Democrats

13 Dec 2019

Victorious Prime Minister Boris Johnson was an eminently beatable candidate, approval ratings showed. But the Labour leader’s radically socialist alternative proved a bigger turn-off. Despite local differences, there are lessons for those hoping to challenge Donald Trump.

UK stock discount will outlast Boris Johnson win

13 Dec 2019

The FTSE 250 Index of more domestic mid-cap companies jumped 4% after the prime minister’s election victory. That only partly narrows a valuation gap with U.S. and European stocks. Uncertainty about a post-Brexit trade deal and Scottish independence justify a continued haircut.

Johnson’s big win unlocks Brexit black box

12 Dec 2019

The UK’s Conservative Party has won a large parliamentary majority. That means Britain leaves the European Union, and gives the prime minister room to compromise on a quick trade deal. Stocks and the pound have bounced. Johnson’s broader policy ambitions remain a mystery.

Breakdown: What happens after the Brexit election?

12 Dec 2019

Voters in the United Kingdom face their third big electoral decision in less than four years. The result has major implications for companies, financial markets, fiscal policy, relations with Europe and the future of the union. Breakingviews tots up the possible consequences.

UK property investors pay for watchdog blind spot

5 Dec 2019

The Financial Conduct Authority has passed up chances to ban real-estate funds that promise daily liquidity. Now investors are stuck in a $3.2 bln M&G vehicle that has suspended dealing. Their ire should be aimed at FCA boss Andrew Bailey for tolerating such illogical products.

Viewsroom: Britain’s Brexit election

28 Nov 2019

The country’s two main political parties are slugging it out over spending pledges before the Dec. 12 vote. But the campaign is also about how soon the UK will leave the European Union and the terms on which it will trade with its nearest neighbours.

UK election rivals ignore reality in own ways

25 Nov 2019

Prime Minister Boris Johnson’s manifesto for the Dec. 12 poll is short on policy and long on pledges to deliver Brexit soon. Labour’s Jeremy Corbyn is offering the opposite. The former dodges the difficulties of EU negotiations and the latter avoids difficult spending choices.

UK election makes Halloween ghouls of capitalists

31 Oct 2019

Labour leader Jeremy Corbyn kicked off his campaign by attacking figures like retail tycoon Mike Ashley and hedge fund manager Crispin Odey. His radical message distracts from Labour’s fuzzy stance on Brexit, and tycoons have few defenders. They face a frightening few months.

Brexit election is answer to the wrong question

30 Oct 2019

The December poll is a flawed second referendum on Britain leaving the European Union. Prime Minister Boris Johnson needs a majority to push through his deal; other parties have to set aside rivalries to stop him. As in 2017, divided voters could deliver an inconclusive result.

Britain is not ready for Boris Johnson’s Brexit

23 Oct 2019

Parliament rejected the prime minister’s attempt to push through his flawed deal to leave the European Union by Oct. 31. What happens next depends on the EU, on lawmakers, and on Johnson himself. Another extension looks inevitable, an election remains the most likely outcome.

Johnson’s poor Brexit deal avoids worse outcome

17 Oct 2019

The UK prime minister secured an unlikely agreement to leave the European Union, but only by carving out Northern Ireland. Winning parliamentary approval for the economically costly plan will be hard. At least the chaotic exit Johnson had threatened is off the table - for now.

Markets show Boris Johnson benefits of Brexit deal

11 Oct 2019

Sterling and stocks in UK-focused companies rose after Britain’s prime minister and his Irish peer said they had a “pathway” out of their standoff. Agreement is far from certain, as is parliamentary approval. But the advantages of avoiding a chaotic departure are crystal clear.

Boris Johnson’s Brexit long shot is short of time

3 Oct 2019

The prime minister’s long-awaited blueprint for leaving the EU has major flaws. Even if Brussels agrees to negotiate, it is far from clear that parliament would approve a deal rather than extend the Oct. 31 deadline. A final showdown may have to wait until after an election.