Finance & Trade

NGOs Oppose EU Fossil-Fuel Funding in Developing Regions

April 03, 2019

A group of nongovernmental organizations has called on EU lawmakers to exclude from the bloc’s future Cohesion Policy - development funds targeting European regions that struggle economically - investments in fossil fuel infrastructure, arguing such funding will sink the EU’s commitment to net-zero greenhouse gas emissions by 2050.
EU Parliament Approves Law on “Unfair” Food Supply Practices

March 13, 2019

The European Parliament has approved a proposal to ban a set of “unfair trading practices” in the European food supply chain, targeting large retailers and other companies accused by EU member states of unilaterally imposing certain conditions on supply agreements.
EU Countries Reject Money-Laundering “Blacklist”

March 08, 2019

EU member states have unanimously rejected a proposed “blacklist” imposing enhanced monitoring requirements on EU banks operating in certain non-EU countries and US territories accused of lax money-laundering enforcement, as national officials asserted the list “was not established in a transparent and resilient process.”
UK Confirms Continuity of UK-EU Air Travel After Brexit

March 08, 2019

The UK Department of Transport has issued a press release confirming that, based on UK government measures and a soon-to-be-finalized EU aviation regulation, a no-deal Brexit scenario will not affect flights between the UK and EU.
EU Governments Object to Money Laundering “Blacklist”

March 07, 2019

Politico reports that EU member states are set to block a “blacklist” requiring European banks to perform “enhanced due diligence” of their transactions in identified countries with allegedly lax treatment of money laundering, as the EU governments question the efficacy of the process through which the countries on the blacklist were chosen.
BoE Chief Revises Forecast of No-Deal Brexit Impacts

March 07, 2019

Bank of England (BoE) Governor Mark Carney has announced that the BoE has revised its forecasts of the negative economic impacts of a no-deal Brexit, testifying before a House of Lords committee that UK and EU preparations for such a scenario have likely reduced the severity of its influence on economic growth.
News Report Suggests Massive Tariff Reduction in No-Deal Brexit

March 07, 2019

Sky News reports that the UK Department for International Trade is prepared to roll back tariffs on 80 to 90 percent of goods imported to Britain in the case of a no-deal Brexit, leaving in place duties only on a narrow set of goods such as cars and various kinds of agricultural and textile products.
EC Launches €10-Billion Climate Innovation Fund

March 05, 2019

The European Commission (EC) has launched an Innovation Fund worth over €10 billion to improve the competitiveness of renewable energy projects in line with the EU’s pledges under the UN’s Paris climate deal.
Lawyer: UK’s Brexit Strategy Is Stymying Trade Talks

March 04, 2019

Trade lawyer Shanker Singham writes that the UK Department for International Trade has made more progress than recently reported in improving British trade prospects in case of a no-deal Brexit despite the UK’s inconsistent negotiating strategy with the EU hindering the ability of the agency to strike meaningful deals with other countries.
EU Officials Plan Extension of Airline Permissions in Case of No-Deal Brexit

February 22, 2019

Showing the ongoing efforts of EU and UK authorities to manage fallout from a no-deal Brexit, EU Reporter describes an agreement between the Presidency of the EU Council and the European Parliament on extending the permission of British airlines to provide service to the EU in case no withdrawal deal is agreed.