GREAT BRITAIN – FOREIGN ECONOMIC RELATIONS – EUROPEAN UNION

Ambition fulfilled for Boris Johnson. But what next for Britain?

roymorgansocial Leave a comment

Original article by Heather Stewart, Jessica Elgot
The Guardian – Page: Online : 24-Jul-19

Britain’s incoming prime minister Boris Johnson says he is committed to the Brexit deadline of 31 October. Johnson will succeed Theresa May after defeating Jeremy Hunt in the Conservative Party’s leadership ballot. Johnson gained 92,153 votes, well clear of Hunt with 46,656 votes. Some MPs have indicated that Johnson has said that he will not call an election before the Brexit deadline, although it is believed that he has not ruled out dissolving parliament before the next general election in 2022.

CORPORATES
GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, CONSERVATIVE PARTY (GREAT BRITAIN)

Brexit plan set to delay FTA with Australia

roymorgansocial Leave a comment

Original article by Hans van Leeuwen
The Australian Financial Review – Page: 9 : 19-Nov-18

The Australian-British Chamber of Commerce’s executive director Elizabeth Ames claims that British Prime Minister Theresa May’s proposed Brexit deal is "bad news" for both nations. The deal will put the UK in a customs union with the European Union until a longer-term free-trade agreement can be worked out. Ames says the UK could remain in the customs union indefinitely, during which time it would not be able to negotiate a trade deal with Australia or other nations. Australia exported $6.1 billion of goods to the UK in 2017, along with $5.4 billion worth of services.

CORPORATES
AUSTRALIAN-BRITISH CHAMBER OF COMMERCE, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER

Aussie FTA ‘is low on UK agenda’

roymorgansocial Leave a comment

Original article by Troy Bramston
The Australian – Page: 2 : 6-Oct-17

The Australian Government still aims to secure a free-trade agreement with the UK after it leaves the European Union. However, former UK government minister Peter Mandelson says the EU will remain Britain’s biggest export market post-Brexit, and maintaining this trade will be a much higher priority than a trade deal with Australia. He supports an FTA with Australia, but says this could never match the UK’s European export volumes.

CORPORATES
LABOUR PARTY (GREAT BRITAIN), GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, GLOBAL COUNSEL

RBA keeps open door for August interest rate cut

roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 20-Jul-16

The minutes of the Reserve Bank of Australia’s monthly board meeting show that inflation data for the June 2016 quarter will be a key factor in its monetary policy decision in August. The central bank’s board expects the inflation rate to remain below its target range of 2-3 per cent in the near-term. Meanwhile, board members anticipate that the UK’s exit from the European Union will have a "modest adverse effect" on global economic growth, but they noted that it is too soon to assess the extent of the impact.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Stocks most at risk if Britain leaves the EU

roymorgansocial Leave a comment

Original article by Jessica Sier
The Australian Financial Review – Page: 27 : 16-Jun-16

Australian-listed companies that derive some of their earnings in the British pound may be affected if the UK opts to exit the European Union. Henderson Group has already been heavily sold down in the lead-up to the referendum, while other stocks that could potentially fall include CYBG and Westfield Corporation. However, Paul Taylor of Fidelity says a "Brexit" would result in a global sell-off, rather than the targeting of individual stocks.

CORPORATES
HENDERSON GROUP PLC – ASX HGG, CYBG PLC – ASX CYB, WESTFIELD CORPORATION – ASX WFD, COMPUTERSHARE LIMITED – ASX CPU, IRESS LIMITED – ASX IRE, FIDELITY INVESTMENTS AUSTRALIA LIMITED, CLYDESDALE BANK PLC, YORKSHIRE BANK PLC, UBS HOLDINGS PTY LTD

Brexit would be ‘regrettable for Australia’

roymorgansocial Leave a comment

Original article by James Chessell
The Australian Financial Review – Page: 1 & 2 : 18-Apr-16

BHP Billiton CEO Andrew Mackenzie says there would be few implications for the resources giant if the UK votes to leave the European Union. However, he warns that it would deter future Australian companies from listing on the London stock exchange, as they would not have the same level of access to the broader European market. Rio Tinto chairman Jan du Plessis also believes that the UK should remain in the European Union. The referendum will be held on 23 June 2016.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE