Bank of America picks Dublin as EU base after Brexit

By Anjuli Davies and Conor Humphries

LONDON/DUBLIN  - Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc.

International banks are planning to set up subsidiaries in the EU to ensure they can continue to serve clients if their London operatio

Britain`s Jaguar Land Rover opens first overseas engine plant

LONDON  - Jaguar Land Rover  opened its first overseas engine plant on Friday, picking China for the investment a week after saying it would build a global model entirely outside Britain for the first time.

Britain's biggest carmaker, which already operates a plant in China as part of a partnership with Chery , said the new facility was part of a 10.9 bi

Britain still likely to refer Murdoch`s Sky deal for further scrutiny

LONDON - Britain said on Thursday it still intended to refer Rupert Murdoch's bid to buy pay-TV group Sky for further scrutiny to assess whether it would give the media mogul too much influence.

Culture Secretary Karen Bradley, who is weighing whether to send the deal for an investigation, said she had to consider new evidence before taking a final decision, which

Britain may need fewer than 10 new regulators post-Brexit: government source

LONDON- Britain will probably set up fewer than 10 new regulators after leaving the European Union, a government source said on Wednesday, offering the first assessment of how officials will tackle one of the most business-sensitive Brexit issues.

Untangling decades of complex legal ties between Britain and the EU is seen as one of the most difficult technical challen

GSK looks to sell small UK Horlicks business: source

By Ben Hirschler

LONDON - GlaxoSmithKline said it was considering the sale of its cephalosporins antibiotics business and intended to divest its small Horlicks business in Britain, while retaining the much bigger malted drink operation in India.

The antibiotics business under strategic review covers the brands Zinnat/Ceftin, Zinacef and Fortum and has worldw

Aviva to sell life insurer Friends Provident International for $443 million

Aviva, Britain's biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million).

The sale, which follows a strategic review, will allow Aviva to further reallocate capital to businesses that can bring

Britain to probe SAS troops photos posted on Facebook

Britain's Ministry of Defence has expressed its concern at the publication of the photographs that show the country's elite special forces in training missions. It will soon launch a probe into the matter, a media report said.

"We are aware of an incident involving soldiers sharing images online. We expect the highest standards of behaviour from our personnel at all

Jaguar Land Rover to produce first car entirely outside of Britain

LONDON - Britain's biggest carmaker Jaguar Land Rover (JLR)  said on Thursday it is to build its new E-PACE compact sport utility vehicle in Austria and China, the first of its cars only to be manufactured outside of its home market.

JLR said its three British plants were either full or at near capacity but the decision will spark fears the firm is looking to

UK budget watchdog warns of long-term Brexit risk for public finances

LONDON - Britain will need to curb public spending further or raise taxes if leaving the European Union does long-term damage to economic growth, underscoring the importance of the country striking new trade deals, the government's budget watchdog said on Thursday.

The Office for Budget Responsibility said ensuring robust trade agreements was more significant for

EU watchdog says regulators should ban `letter-box` investment firms

LONDON  - Regulators should prevent investment firms from setting up shop in one jurisdiction to avoid stricter controls in their home state, the European Union's markets watchdog said on Thursday.

EU supervisory authorities are concerned about a "race to the bottom" as financial services firms shift operations after Britain leaves the bloc in 2019.

UK will not a pay penny more than necessary for EU exit bill: Brexit minister

LONDON - Britain will not pay the European Union a penny more than it needs as part of its Brexit settlement, junior Brexit minister Steve Baker said on Thursday.

"We know that we have rights and obligations and we are testing the European claims, but we won't pay a penny more than we need to," Baker told Sky News.

Baker declined to say how muc

`No whistling, just ticking`: EU pushes on Brexit talks

BRUSSELS - The EU's negotiator pressed Britain on Wednesday to offer more post-Brexit rights to expats and accept it will pay a hefty sum on leaving if it wants a quick start to talks on a future trading relationship.

Michel Barnier, who holds a first full round of talks next week, betrayed impatience with London during a Brussels news conference. Britain had yet

Britains financial watchdog flags concerns about `pension freedoms`

LONDON - Britain's financial markets watchdog on Wednesday flagged a number of concerns about the way people are using their retirement savings since the introduction of new rules in 2015.

In the biggest shake-up of pensions regulation for decades, the so-called 'pension freedoms' allowed savers to access their pension pots early and removed the need to bu

UK competition regulator refers Tesco/Booker deal for in-depth probe

LONDON  - Britain's competition regulator has referred supermarket Tesco's proposed 3.7 billion pounds ($4.75 billion) takeover of wholesaler Booker to a detailed investigation, ceding to a request from the companies to "fast track" the process.

The Competition and Markets Authority (CMA) said on Wednesday it believed that in over 350 local area

Big UK firms curtail investment plans, consumer slowdown deepens - surveys

LONDON - The chances of Britain's economy picking up steam diminished further on Monday as surveys showed major companies have curtailed their investment plans and that consumers spent less on their credit cards.

The reports added to a string of lacklustre economic data that has raised questions about the chances of the Bank of England raising interest rates this

Only politics stands in way of smooth Brexit trade deals - Liam Fox

PARIS  - British Trade Minister Liam Fox said on Friday there were no obstacles to replicating the current smooth trading agreements between Britain and the EU after Brexit, unless "politics got in the way of good economics".

Fox's comments came a day after the EU's chief Brexit negotiator, Michel Barnier, said London's "red lines"

Factbox: Insurers' preparations regarding Britain's planned EU exit

Insurers require passporting rights to sell insurance policies throughout the European Union.

Insurers in Britain have said they will need to set up EU subsidiaries if Britain loses access to the single market after Brexit.

The Bank of England has asked insurers and banks operating in Britain to outline their Brexit plans by mid-July.

Below are insurers' plans

Reckitt Benckiser cuts sales forecast after cyber attack

LONDON- British consumer goods maker Reckitt Benckiser trimmed its sales forecasts on Thursday, becoming one of the first companies to put a cost on a global cyber attack that disrupted its manufacturing and distribution.

Several major companies, along with Russia's biggest oil firm and Ukrainian banks, were hit by a virus on June 27 that crippled computers, disru

Britain's finance industry faces 'tipping point' over Brexit

LONDON- Britain will lose its status as Europe's top financial centre unless it keeps borders open to specialist staff, improves infrastructure and expands links with emerging economies, TheCityUK said in a report published on Thursday.

The report from Britain's most powerful financial lobby group said continental Europe might eventually become the preferred d

Steel plant revival helps spur Scottish economy in early 2017

EDINBURGH - Scotland's economy grew at its fastest pace in more than two years in early 2017 and outpaced overall economic growth in Britain as a whole, helped by the return to production of a steel plant, official data showed on Wednesday.

The Scottish economy expanded by a quarterly 0.8 percent in the first quarter of 2017, faster than growth of 0.2 percent in B

Export boom? Euro zone shows Britain how it's done

LONDON - Feted by some British newspapers as proof of a Brexit vote windfall, Britain's recent export recovery ranks as the worst among Europe's major economies, according to one closely-watched measure.

Surveys of manufacturers across Europe published by data firm IHS Markit on Monday underlined Britain's challenge as it tries to become an export-led dyna

Bank of England staff vote for first strike in 50 years

By Sarah Mills

LONDON - Bank of England staff have voted to hold their first strike in more than 50 years in a push for higher pay, a union said on Monday, adding to pressure for an end to tight controls on public sector wages in Britain.

Unite, Britain's biggest union, said maintenance and security staff at the 323-year-old institution would strike for

Britain approves BA use of Qatar planes during upcoming cabin crew strike

LONDON - British authorities have given British Airways the go ahead to use Qatar Airways planes and staff during a planned two-week strike by members of its cabin crew, a spokesman for the Department for Transport said on Friday.

BA has committed to fly all its customers to their destinations during the strike, which begins on Saturday. BA, owned by IAG, had applied

Britain says Fox bid for Sky gives Murdoch too much power over news

LONDON - Britain intends to refer Rupert Murdoch's takeover of Sky to a full investigation because the deal raises concerns about the amount of influence the media mogul would wield.

"I am minded to refer to a Phase 2 investigation on the grounds of media plurality," Media Secretary Karen Bradley told lawmakers. "The reasoning and evidence on which

Britain's Co-op Bank agrees $900 million rescue package

LONDON - Britain's Co-operative Bank said on Wednesday it had agreed a 700 million pound ($897.5 million) financial rescue package with leading investors that will shore up its capital base, ending months of uncertainty about its future.

Investors who own the bank's debt will pump 443 million pounds into recapitalising its bonds and will also help it rais