France to worsen banking relations with UK
The relations between the UK and France have always been like thin ice. However, for many years, the countries have had almost no reason to quarrel. Yet, the apple of discord became the consequences of Brexit. Paris is confident that London does not comply with the obligations assumed under the signed post-Brexit agreement.
Therefore, France is threatening to block regulations that allow UK financial companies to do business in the EU if the country does not respect its Brexit commitments on fishing. "The UK must deliver licenses, authorization to access their waters for fishing, that’s the deal," French Junior Minister for European Affairs Clement Beaune said. He suspects the UK of non-compliance with its own obligations, namely providing fishing vessels from EU countries with free access to British territorial waters as per the Brexit deal. He warned that retaliation measures would be adopted in other sectors, including financial services. Currently, London has not issued a fishing license yet. Therefore, if fishermen suffer in France, bankers will suffer in the UK. "It is quid pro quo," he stressed.
Beaune was one of the most vocal opponents of Brexit. He insisted on keeping the EU as it was without any separations. Despite the opposition, the United Kingdom left the block in January 2020. Until the end of 2020, there was a special transition period. During that time, most of the previous regulatory rules were maintained. From 2021, UK-EU relations are specified in the provisions of the bilateral Brexit agreement.
Johnson wants to build flagship to promote British trade
Prime Minister Boris Johnson has proposed a strange way of representing the United Kingdom around the world. The politician suggested building a huge flagship that would enter foreign sea ports and promote British trade and investment.However, not everyone has welcomed the prime minister's idea. Boris Johnson faced backlash from businesses and the public.
13:53 2021-06-11 UTC+00
China becomes UK’s biggest single import market
The coronavirus pandemic has helped China become the UK's biggest single import market for the first time since records began. Although UK residents, unlike other countries, are not thrilled about goods from China, the demand for Chinese textiles to manufacture face masks and other personal protective clothing has reached record highs.
13:44 2021-06-11 UTC+00
US farmers bet sustainable eggs to be next big thing
Recently, there have been lots of reasonable and quite wild proposals on how to combat climate change. For instance, in the US, farmers are sure that they will save the planet by producing eco-friendly eggs.The new approach allows farmers to lock in greenhouse gases in the soil, which means that the new type of eggs is more sustainable and makes no harm to nature.
12:19 2021-06-11 UTC+00
James Bond for home delivery from Amazon
There could be more good cinema in the future. Competition in the ruthless yet beautiful world of streaming is getting more serious as Amazon joins the race. The largest e-commerce retailer has announced the purchase of legendary Metro-Goldwyn-Mayer.As a result of a $8.45 billion deal, Amazon will get access to an impressive library of films and TV shows.
13:56 2021-06-10 UTC+00
Sweden revives its economy without tough quarantine measures
Global economic experts were really surprised by the news that Sweden managed to return its economy to pre-crisis levels. Notably, Sweden was the first among the countries that refused to impose restrictive measures to curb the coronavirus spread.Recently, the country reported on a rise in exports and domestic consumption.
13:53 2021-06-10 UTC+00
JPMorgan CEO recommends staying away from cryptocurrencies
According to JPMorgan Chase CEO Jamie Dimon, only a few players will be able to outplay bitcoin and other crypto assets in the digital market. He recommends that investors "stay away" from cryptocurrencies. "My own personal advice to people is stay away from it. That does not mean the clients don’t want it. This goes back to how you have to run a business.
12:40 2021-06-10 UTC+00