Wednesday , September 19 2018
Breaking News


France and UK agree new deal to end ‘scallop wars’


UK:There were fresh hopes of an end to the conflict between Cornish fishermen and their French counterparts, dubbed the “scallop wars”, on Monday night after it was announced that the two sides had come to a new agreement. Vessels from the two nations clashed over the summer in a dispute about access to fishing grounds in the Baie de Seine, ... Read More »

Port of Hull lands a big catch for the UK fishing trade


UK:Associated British Ports has announced that new fishing trade has docked at the Port of Hull to supply 300 fish and chip shops across the country. Humber-based company, UK Fisheries, has recently docked at the port with its first catch of around 700 tonnes of cod and haddock from the North Atlantic waters. The new, multi-million pound Kirkella fishing vessel ... Read More »

Theresa May: UK Brexit choice is Chequers or no deal

LONDON, ENGLAND - SEPTEMBER 12:  British Prime Minister Theresa May leaves number 11 Downing Street ahead of Prime Minister's Question session (PMQs) on September 12, 2018 in London, England.  (Photo by Leon Neal/Getty Images)

British Prime Minister Theresa May said today the only alternative to the government’s Chequers plan is to leave the EU without a deal, amid rising criticism from within her own party. The government’s Brexit plan as the only solution that would not break the country apart or enforce a hard border with Northern Ireland. She stressed the need for a ... Read More »

Like tax? Love networks? UK taxmen have a job just for you

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Uk:HM Revenue and Customs is hiring a head of networks, for those who fancy a real pre-Brexit IT challenge. “We’re creating a dynamic, agile technology organisation that works on two levels: we want the most amazing experience for customers and citizens, both internal and external; and we are building careers that are rewarding and enjoyable for all of us,” burbles ... Read More »

UK crime agency steps up assault on Russian dirty money


The National Crime Agency is ratcheting up its focus on targeting Russians with suspicious wealth as part of the UK’s response to clear the £90bn tide of “dirty money” flooding into London. Donald Toon, director of the NCA’s economic crime unit, said it was preparing to expand the use of unexplained wealth orders, which have struck fear into the Russian ... Read More »

Scottish goods exports rise faster than rest of UK


Goods exports from Scotland rose at a faster rate than the rest of the UK in the year to June, according to HM Revenue and Customs figures. Exports amounted to £28.8bn, a rise of 7% compared with the same period the previous year. The value of UK exports as a whole was up by 5.4%, at £331bn. Scotland’s increase was ... Read More »

May to meet car industry chiefs in Birmingham amid concern over Brexit


Theresa May will meet car industry executives at a summit in Birmingham amid growing concern in the industry about the pace of the Brexit negotiations and the impact of a no-deal scenario on the sector. On Tuesday the prime minister was due to highlight the potential for low emissions technology but before the meeting the industry’s trade body emphasised that ... Read More »

Tax cut for self-employed workers scrapped


UK:A planned tax cut for 2.7m self-employed workers has been scrapped by the UK government. It was originally due to scrap Class 2 National Insurance contributions in April but the move had been delayed by a year and has now been shelved. It cited concerns that low-earning self-employed people would pay more to access the state pension, and it would ... Read More »

UK Rejects EU Proposals on Creation of Customs Border Down Irish Sea


LONDON:The United Kingdom will not agree to the EU proposals on the creation of a customs border between Northern Ireland and the rest of the United Kingdom after the country’s withdrawal from the European Union as it would violate the UK constitutional and economic integrity, UK Brexit Secretary Dominic Raab said on Tuesday. “The EU proposals are unacceptable because they ... Read More »

Northern UK ports prepare for freight boost after Brexit


Ports in northern England are preparing for an influx of freight as shipping companies seek alternatives to Dover after Brexit as fears mount of lengthy delays at the main sea links with the Continent. Uncertainty over the UK’s future trade relationship with the EU has led to predictions of long queues at busier harbours on both sides of the Channel ... Read More »

EU says Brexit border plan now ‘a matter of some urgency’


The UK must agree a “backstop” plan for the Northern Ireland border after Brexit as “a matter of some urgency”, the EU’s chief negotiator has warned. Speaking after the latest round of negotiations, Michel Barnier said that without a detailed plan, “there will be no agreement”. The sticking point relates to what should happen to the Northern Ireland border if ... Read More »

No-deal Brexit: study warns of severe short-term impact on UK


The short-term impact of a no-deal Brexit on Britain’s economy would be “chaotic and severe”, jeopardising jobs and disrupting trade links, warn experts from the thinktank UK in a Changing Europe. The Brexit secretary, Dominic Raab, has said he believes 80% of the work on completing an exit deal with the EU27 is already done, as negotiations enter their final ... Read More »

UK a great ally for Nigeria capital market development’


The Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar N. Onyema, has averred that the United Kingdom remains a key partner to Nigeria, particularly for its capital market development. Onyema spoke to journalists on the sidelines of the business networking event hosted by the British High Commission and headlined by the Prime Minister of Great Britain, Ms. Theresa May. ... Read More »

UK’s RPC Group sells food-packaging business for $95m

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Uk:Europe’s biggest plastics packager RPC Group Plc will raise $95 million from the sale of its Letica food packaging business, it said on Tuesday after facing months of pressure from investors to raise more cash and cut capital spending. Shares of UK-based RPC fell sharply last month after the company said pressure from investors was preventing it from pursuing some ... Read More »

UK auditors, watchdog to discuss curbs on Big Four market share


LONDON:Britain’s top accountants will meet with competition regulators next week to discuss limiting the “Big Four” auditors’ market share after lawmakers called for them to be broken up. Lawmakers have accused EY, KPMG, Deloitte and PwC of being an “oligopoly” that checks the books of nearly all the 350 leading companies in Britain, with smaller rivals barely having a look ... Read More »

Falklands plans to adopt the UK Port Marine Safety Code in the maritime sector


UK:The Falkland Islands government has reported it is working with partners to strengthen the existing safety management system at FIPASS, and is looking at moving towards the adoption of the UK Port Marine Safety Code to improve the standards of safety in the maritime sector. Additionally FIG has engaged with a marine consultancy to commission works to safely vent the ... Read More »

HMRC customs system rolled out to first wave of importers

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HM Revenue and Customs has begun to roll out the new customs system that will be able to deal with the expected increase in declarations after the UK leaves the European Union. The first stage of the rollout of the Customs Declaration Service, which has been in development since 2013-14 but was expanded after the UK voted to leave the ... Read More »

Launch of the Customs Declaration Service begins

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HMRC has successfully implemented the first software release for its new Customs Declaration Service (CDS). The Customs Declaration Service will deliver a modern system for importers and exporters who have to complete customs declarations when trading outside the EU. CDS will replace the existing Customs Handling of Import and Export Freight (CHIEF) system over three phases between August 2018 and ... Read More »

HMRC launches new Customs Declaration Service


HM Revenue & Customs (HMRC) has implemented the first stage of the new Customs Declaration Service (CDS), one of the major elements of its IT infrastructure for dealing with trade post-Brexit. It said that a selected group of importers will now be able to make certain types of supplementary declarations on the system, and forecast that the majority of importers ... Read More »

Samsung unveils newest smartphone hoping for sales boost


New York:South Korean electronics giant samsung unveiled the new Galaxy Note 9 smartphone Thursday, its latest effort to address flagging sales of the high-functioning gadgets. Boosting the power and the price, Samsung hopes to win back customers in the competitive market. The consistent leader in the global smartphone market, the company nonetheless suffered a 22 percent drop in mobile technology ... Read More »