Impact on banks from Britain's vote to leave the EU

Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, endangering London's status as a major financial centre.

Leading financial firms warned for months before last June's Brexit referendum that they would have to move some jobs if the "Leave" side won

UK manufacturers urge PM May to drop threat of no Brexit deal

LONDON  - Britain's manufacturers told Prime Minister Theresa May on Monday to drop her threat that she might take the country out of the European Union without a new trade deal, saying they would bear the brunt of trade barriers with the EU.

May plans to trigger the two-year Brexit process on Wednesday and she has warned the other 27 EU countries that no dea

Britain's Theresa May to launch EU divorce proceedings on March 29

By William James, Elizabeth Piper and Gabriela Baczynska

LONDON/BRUSSELS - Prime Minister Theresa May will trigger Britain's divorce proceedings with the European Union on March 29, launching two years of negotiations that will reshape the future of the country and Europe.

May's government said her permanent envoy to the EU had informed European Coun

Sterling slips after as date is set for Brexit trigger

By Ritvik Carvalho and Jemima Kelly

LONDON - Sterling fell from a three-week high against the dollar on Monday, on the news Prime Minister Theresa May will trigger Britain's divorce proceedings with the European Union on March 29, launching two years of negotiations.

May's government said her permanent envoy to the EU had informed European Council Pr

Britain to launch Brexit process on March 29 - EU sources

By Gabriela Baczynska

BRUSSELS - Prime Minister Theresa May will write to the European Union on March 29 formally announcing Britain's withdrawal from the bloc, EU sources told Reuters on Monday, saying Brussels had been told of the plan by British officials.

That letter next Wednesday will start the clock ticking on a two-year countdown to Brexit and a

Britain's May supports finance minister in tax hike on self-employed

LONDON  - British Prime Minister Theresa May defended her finance minister on Thursday against criticism for raising a tax on some self-employed workers in his budget, saying the measure was necessary and "fair".

Members of her governing Conservative Party and many British newspapers accused finance minister Philip Hammond of breaking a party pledge ahe

UK needs financial reserves in the tank for Brexit - Philip Hammond

By William Schomberg and Paul Sandle

LONDON - Britain's finance minister Philip Hammond said he would keep "reserves in the tank" to see the economy through its looming Brexit challenge, signalling little room for extra spending in this week's budget despite better news on borrowing.

He also said tensions were now easing with other Europea

UK lawmakers say May's industrial plan falls short, risks mistakes

LONDON - Britain's new industrial strategy, unveiled earlier this year to prepare the economy for Brexit, is lacking in long-term thinking and risks making the same mistakes as prior, failed plans, a group of lawmakers said.

Prime Minister Theresa May announced a "Modern Industrial Strategy" in January with the aim of boosting Britain's weak producti

UK PM May's Brexit plan suffers hitch in parliament

By William James and Kylie MacLellan

LONDON  - Britain's upper parliamentary house dealt a defeat to Theresa May's government on Wednesday, voting for a change to her Brexit plan that says she can only trigger divorce talks if she promises to protect EU citizens' rights.

The defeat is a blow to the Prime Minister, who had hoped to pass her B

British PM May wants Brexit deal that allow automakers to flourish

LONDON  - Prime Minister Theresa May has been clear that her government wants to secure a Brexit deal with the European Union that will allow Nissan and other automakers to flourish in Britain, her spokesman said on Tuesday.

Earlier, Colin Lawther, Nissan's senior vice president in Europe, told lawmakers the company wanted the government to help it source mor

UK Prime Minister May orders officials to examine Kraft Heinz bid for Unilever - FT

LONDON - British Prime Minister Theresa May has asked top officials to examine U.S. food company Kraft Heinz's proposed takeover of Unilever Plc, the Financial Times reported on Sunday without citing any sources.

Kraft's surprise $143 billion offer, which would be the largest ever acquisition of a UK-based company, was flatly rejected by Unilever on Frida

PSA chief executive to meet UK's May about Vauxhall takeover

By Laurence Frost and David Milliken

PARIS/LONDON - The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday.

Both Britain and Germany fear PSA will cut jobs if the takeover goes

Britain and India ease limits on flights to boost trade ties

LONDON - Britain and India on Thursday agreed to ease restrictions on the number of scheduled flights between the two countries in a bid to boost trade and tourism ties before Britain leaves the European Union.

Limits on flights to Britain from key Indian cities including Chennai and Kolkata have been scrapped, allowing for passengers to choose from a greater range of

Theresa May wins crucial vote in UK Parl to begin Brexit

British Parliament overwhelmingly supported a bill on Thursday empowering PM Theresa May to commence crucial negotiations by March 31 on leaving the EU, bringing Brexit a step closer, as per the media reports.

The draft legislation of the European Union (Notification of Withdrawal) Bill was approved by 494 votes to 122 by the House of Commons after its final debate, said the PTI repor

British House of Commons passes Brexit bill

 The parliamentary bill empowering the British government to begin the formal process of leaving the European Union completed its passage on Wednesday night in the House of Commons.

Prime Minister Theresa May's government succeeded in crossing the final crucial hurdle with 494 votes to 122 -- a majority of 372, Xinhua news agency reported.

May sat in the chamber alo

Victory for May as UK court throws out EU single market challenge

LONDON  - The British government welcomed the dismissal on Friday of a legal bid to force parliament to approve any attempt to take Britain out of the European Economic Area (EEA) and the single market as part of its exit from the European Union.

The British Influence think-tank had argued that although last June's referendum had resulted in a "leave&quo

Factbox: Key points from Britain`s Brexit White Paper

LONDON - The British government has published a "White Paper" policy document, setting out its plans for coming negotiations on leaving the European Union.

The 77-page paper reiterated the 12 priorities already set out by Prime Minister Theresa May including that Britain would seek a comprehensive free trade agreement with the EU but not an unlimited tr

UK parl votes in support of starting Brexit process

The members of the UK parliament voted massively in support of allowing the government to start Brexit negotiations, as per the media reports. Members of the House of Commons voted yesterday by 498 to 114 to advance the bill that would give Prime Minister Theresa May the authority to invoke Article 50 of the Lisbon Treaty -- the formal process of leaving the EU, said the PTI report.


Danish drugmaker Novo Nordisk bets $145 mln on post-Brexit UK science

LONDON  - Novo Nordisk, the world's top maker of diabetes drugs, is investing 115 million pounds ($145 million) in a new research centre in Britain, undeterred by Brexit.

The Danish company said on Monday it would invest the money over 10 years in the centre based at the University of Oxford, which will employ 100 scientists hunting for new ways to treat type

EU Brexit negotiator: May's trade deal pledge 'impossible'

The European Parliaments chief Brexit negotiator rubbished British Prime Minister Theresa Mays pledge to deliver a new EU trade deal by 2019 as "impossible", a media report said.

Guy Verhofstadt also suggested the British people voted to leave the EU because of a Little Englander mentality. Yet he held out the prospect that Britain could choose to rejoin the bloc one day, sa

UK, U.S. should look at removing trade barriers before Brexit - PM May

PHILADELPHIA - British Prime Minister Theresa May said on Thursday Britain and the United States could look at areas where both could remove some trade barriers to their mutual advantage while she negotiates the country's exit from the EU.

May told reporters aboard a government plane heading to the United States, where she will meet President Donald Trump on

"Show me the money": divorce first, then trade deal, EU tells UK

By Alastair Macdonald and Jan Strupczewski

BRUSSELS - Since Prime Minister Theresa May set out her Brexit goals last week, interest in Britain has focused on the future trade deals she may one day strike with the United States and other powers, as well as with the European Union.

In Brussels and European capitals, that looks like putting the cart before

UK`s May to defend free trade and Iran deal in talks with Trump

LONDON - British Prime Minister Theresa May will stress the value of free trade and her support for the Iran nuclear deal when she meets U.S. President Donald Trump later this week, her spokeswoman said on Monday.

Trump's election has raised questions over the future of the so-called special relationship that has underpinned close British-American ties for decades

Britain launches interventionist drive for post-Brexit industrial revival

By William James

LONDON - Britain's government on Monday unveiled a new interventionist approach to rebalance its heavily services-based economy for the post-Brexit era, in a break with traditional Conservative laissez-faire economic policy.

Prime Minister Theresa May's "Modern Industrial Strategy"demands closer collaboration in key in

Nothing could be more British than Tata's Jaguar, says Theresa May

Indian industrial behemoth Tata is Britain's biggest manufacturer, but there cannot be anything more British than its products like the Jaguar and Land Rover luxury cars, UK Prime Minister Theresa May said on Thursday here.

May also said the UK, which voted to exit the European Union last year, was "a hub of investment". 

"A Global Britain is no less