September 20, 2019

The European Union has rejected a request from the British government for a Brexit deal without a Irish backstop in.

Brexit Secretary Stephen Barclay on Thursday said the UK should be given until the end of 2020 to come up with a replacement for the policy – instead of the end of September deadline set by EU leaders.

The minister travelled to Brussels on Friday to meet with Michel Barnier, the EU's chief negotiator – but was told that...

August 28, 2019

The US government has not granted any companies licenses to sell goods to Huawei, amid escalating trade tensions between the US and China.

More than 130 applications have been made to the US Commerce Department, Reuters reported.

The revelations come despite President Donald Trump claiming that some companies would be allowed to sell to the Chinese tech giant after it was added to the Entity List.

The standstill coincides with mixed me...

August 23, 2019

The EU is considering plans for a €100bn investment fund to finance European "industrial champions" and compete with multinational companies.

The proposals for the sovereign wealth fund, reported by the Financial Times, would herald a move towards a more active industrial policy by the bloc 

The so-called European Future Fund would be financed by member states and target its investments into strategic sectors where the EU lagged behin...

July 26, 2019

Sky Mobile and Three have become the first mobile operators to promise Huawei’s smartphones on the UK’s new 5G mobile networks, despite security fears about the Chinese technology company.

Huawei’s Mate 20 X 5G device is one of a limited number of phones capable of utilising 5G, the fifth generation of mobile networking technology that allows significantly faster connections than its predecessors.

The US has said Huawei’s equipment co...

June 12, 2019

Ford Motor Company issued four safety recalls in North America on Wednesday, including one covering more than 1.2m SUVs.

Approximately 1.2 million 2011-2019 model-year Ford Explorers, built between May 17, 2010 and January 26, 2017 in Chicago, will be recalled in the US after the automaker discovered a defect that puts drivers at risk of crashing. The error concerns loss of steering control.

The same recall affects approximately 28,00...

April 29, 2019

The European Union “will never accept” a move by Theresa May to raise tuition fees for EU students after Brexit, the European Parliament’s Brexit chief has said.

Guy Verhofstadt said he would write to the prime minister following reports that EU students would be charged full international fees, instead of benefiting from the same rates as UK students as now.

“No way! Students mustn't be victims of Brexit,” Mr Verhofstadt said. “I wil...

April 5, 2019

HEALTH services, technology and food companies enjoyed a near-€60m boost from the State this year as the threat of a hard or no-deal Brexit intensifies.

Under the European Commission's State Aid transparency rules, member states are required to publicly notify details of individual aid awards above €500,000.

The IDA, led by Martin Shanahan, paid out more than €42m, with Enterprise Ireland issuing grants of close to €15m, according to...

March 18, 2019

British Prime Minister Theresa May is set to go for 'third time lucky' on her Brexit deal in parliament, taking the pound on another roller coaster ride as expectations of a softer exit work to buoy the currency only to be wiped out by a snapback.

On Wednesday alone, as Westminster convulsed with another series of votes on Brexit that split both the Conservative and Labour parties, the pound traded in a range that peaked at 84.72 pen...

March 15, 2019

BRITISH and Northern Irish consumers may face extra charges after Brexit for using credit and debit cards in the EU if the UK leaves the bloc without a withdrawal agreement or implementation period.

It's yet another potential blow for consumers already facing the prospect of higher prices for goods if a hard Brexit goes ahead this month.

"In the event that the UK leaves the European Union without a withdrawal agreement or implementati...

February 6, 2019

Toyota slashed its profit forecast for 2019 and warned that it will be impossible to avoid the harmful effects of a no-deal Brexit.

“We cannot avoid the negative impact no matter how much we prepare beforehand if Britain leaves the EU with no deal,” the firm’s senior managing officer Masayoshi Shirayanagi said on Wednesday.

He said Toyota “will monitor the situation, hoping that it will not happen”, adding it was not currently conside...

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