Monday , January 27 2020
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U.K. Tax Agency Offers a $130,000 Bounty on Privacy Coin Traceability

The U.K.’s taxman is looking to crack down on private transactions. HM Revenue and Customs (HMRC), the tax authority for the U.K., has granted a bounty of $130,000 (£100,000) for anyone that can effectively track and identify crypto criminals. But what does this mean for privacy coins and financial anonymity? HMRC is looking for an autonomous way to analyze seven ... Read More »

Boris Johnson needs my Brexit battle plan to triumph in trade talks with the EU

hen the UK signs up to the Withdrawal Agreement at the end of January it will commit to paying the EU tens of billions of pounds for nothing in return, relinquish its representation in the EU’s various institutions, effectively commit Northern Ireland to remaining in the EU’s Single Market as well as being in the UK’s customs union and the ... Read More »

UK ports expect smooth Brexit, as volumes decline after stockpiling spike

BREXIT is likely to roll out smoothly on the UK waterfront on the last day of this month, although throughput volumes are on a continuing downward trajectory following a stockpiling spike in the last quarter of 2018, according to ports industry sources. While Britain is formally departing from the European Union on January 31, existing arrangements on customs, excise and ... Read More »

The post-Brexit Free Trade Deal the UK will get

With the date for the UK to exit the political structures of the EU now set at 31 January, the focus for 2020 will move to the much more challenging phase of Brexit – negotiating a UK-EU Free Trade Agreement (FTA). The shallow scope of this as a Canada-style deal is clear from the Boris Johnson election success. However, there ... Read More »

Government backs UK firm to build three hospitals in Oman

UK Export Finance supports the financing of contracts between UK firm, International Hospitals Group (IHG), and Oman’s Ministry of Health. UK firm wins contract for the construction of the Salalah, Suwaiq and Khasab hospitals, backed by over £500 million worth of support from UK Export Finance (UKEF). Three hospitals to provide intensive care, emergency services and specialist baby care. International ... Read More »

Optimism among small UK businesses slumps to eight-year low

After a year dogged by Brexit deadlock, political uncertainty and slow growth, optimism among small UK firms has slumped to an eight-year low. The Federation of Small Businesses’s confidence gauge fell in October-December for the sixth quarter in a row. Managers at firms across the UK reported worries about the domestic economy and pessimism about opportunities overseas. Nearly half of ... Read More »

The Wren Boy Procession and the Irish tradition of St Stephen’s Day

Ireland marks Christmas in much the same way as many other nations around the world, but we have quite a few traditions and customs that are pretty specific to this island. Christmas in Ireland lasts from Christmas Eve until the Feast of the Epiphany on 6 January and it’s on 24 December that one of the traditions marks the beginning ... Read More »

UK customs officers seize fake Chinese goods worth almost £3 million

British customs authorities have seized counterfeit items worth almost £3 million (£3.9 million) that had been shipped into the UK from China. In an operation intended to crack down on fake goods ahead of Christmas, officers from UK Border Force confiscated thousands of bogus items including counterfeit designer label scarves, sportswear and electrical equipment. At London Gateway Port alone, customs ... Read More »

MS Amlin exits some classes of UK business

MS Amlin has several classes of its UK property and casualty business into run-off. The London-headquartered global re/insurer, which has offices in Bermuda, said in a statement that it would cease underwriting corporate property, real estate, casualty and package binders through its UK P&C business with effect from January 31, 2020. This announcement follows the outcome of MS Amlin’s underwriting ... Read More »

UK vote eases corrosive uncertainty hurting businesses

LONDON : The British election result is a boost to the economy and financial markets in the short term as it will ease some of the uncertainty over Brexit that has hobbled business confidence during the past three years. In the longer term, it remains unclear how the Conservatives of Prime Minister Boris Johnson will steer the economy, particularly since ... Read More »

Northern Ireland customs protocol could thwart Brexit plans

Northern Ireland customs arrangements may thwart Boris Johnson’s plan to leave the EU by December 2020, according to a document said to be leaked from civil servants in the Department for Exiting the EU. In the document, seen by the Financial Times, staff raised concerns about the readiness of the new customs arrangement, calling the protocol to keep part of ... Read More »

Major Ports Group welcomes manifesto commitments on infrastructure

The UK Major Ports Group (UKMPG), the voice for the UK’s largest port operators, responded to commitments on infrastructure development in party manifestos and announced the major ports sector’s priorities for a new government. Ensuring that coastal communities receive their fair share of infrastructure spending and delivering on ports priorities would give the UK stronger gateways for trade post Brexit ... Read More »

UK banknote printer De La Rue fears for its future

De La Rue, the company that prints the UK’s banknotes, has said there is a risk that the firm will collapse if its turnaround plan fails to work. The announcement came as it suspended its dividend and reported a loss in the first half of its financial year. De La Rue said its warning was based on a worst-case scenario. ... Read More »

Top business brains share secrets of starting a successful firm in new book

There are more than five million small and medium-sized enterprises (SMEs) in the UK – many of which were started by people going into business for the first time. Launching a new company can be an incredibly daunting and demanding process. But now help is at hand in the form of a new book from Lloyds Bank and Bank of ... Read More »

The Irish Times view on the EU-UK withdrawal deal: A hostage to fortune

EU leaders were explicit: the UK could have the extension it had asked for until January 31st as long as in the process it did not “undermine the regular functioning of the Union and its institutions”. And that it honoured its “obligation to suggest a candidate for appointment as a member of the European Commission” for that duration. A treaty ... Read More »

U.K. Importers and Distributors Stuck in a Brexit Jam

British businesses looked on in horror as the Oct. 31 Brexit deadline passed—the second one the U.K. has missed this year. Despite Prime Minister Boris Johnson claiming he would rather be “dead in a ditch” than still be in the E.U. after the October deadline, the U.K.’s beer industry is coming to terms with another three-month extension. The deferral is ... Read More »

King Abdullah Port delegation visits Liverpool Port in UK

A delegation from King Abdullah Port, which also included officials from the Economic Cities Authority, Saudi Customs and the Border Guards, visited Liverpool Port, one of the largest ports in the UK, with a view to learning about the port’s business processes and operating procedures. The visit to Liverpool Port provided an ideal opportunity for delegation members, which included representatives ... Read More »

UK red meat exports up and imports down

UK exports of beef and lamb rose significantly during the first two-thirds of 2019, with imports also falling, according to analysis by Quality Meat Scotland. Stuart Ashworth, QMS director of economic services, said despite the confusion generated by Brexit, it had been a positive period for the UK’s red meat exporters, which had successfully grown volumes. According to official statistics ... Read More »

EU says further Brexit extension would be required for Labour to renegotiate deal

A further Brexit extension would be required for a Labour government to renegotiate the terms of Brexit, the European Commission said on Thursday. Labour plans to secure a softer agreement that keeps the UK inside a customs union and single market regulations – and then put the result of talks to a Final Say referendum with the option to remain. ... Read More »

Boris Johnson’s plan in chaos as customs union amendment has ‘good chance’ of passing

Boris Johnson is facing a fresh Brexit headache after opposition MPs claimed they had enough support to force the prime minister to negotiate a customs union with the EU. Labour said there was a “very good chance” of a customs union motion being passed by the Commons later this week, as the DUP appeared to indicate that it could support ... Read More »