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North American Session News Report (GBP Focused)
By: Alexander Hannoun
Tags: News, Forex, UK, Brexit, Forex Trading

Late Session sell-off for the Pound

Headline

EU President Von der Leyen: Big differences remain to be bridged, particularly fisheries (19:35 GMT)

She mentioned that bridging the gaps will be very challenging; Negotiations will continue tomorrow

We believe with political will, there is a path to a deal

UK PM Johnson: It now looks very likely agreement won’t be reached unless EU positions shifts substantially (19:53 GMT)

Underlined to Von der Leyen’s comments that negotiations are in a serious state

UK were making every effort to accommodate reasonable EU requests on the level playing field

Told Von der Leyen that little time is left

Two leaders agreed to remain in close contact

Summary

Late breaking headlines with Boris Johnson offering a negative assessment of talks with EU led to a drop in GBP. The readout from Von der Leyen was more positive but that was ignored in a sign that a deal is more priced in than not.

The general theme for the session was USD weakness and that had a number of knock effects, especially in the hot commodity market. In particular, Gold gained 1% and industrial metals continued to rally.

What are we looking for ahead

At the moment it is all about dollar shorts and yesterday’s small dip on the FOMC showed that sellers are waiting in the weeds. Alternative safe havens assets are favored here (such as CHF and JPY) over the USD in case of a risk-off mood.

Fundamentals meet Technicals

H4 timeframe important supply area of interest.

M15 details with candlestick formation signal confirming the selling pressure.
Brexit’i Kazanan Adam
By: Bilkent Pdk
Tags: Boris Johnson, Brexit, UK Politics, Dominic Cummings, Türkçe

A publication by Bilkent University Political Thought Club. Leading forum for discussion of Turkish politics and global affairs.
European Union Plans Post-Brexit Invasion of the UK to Restore Democracy and Personal Freedoms
By: James Pool
Tags: Satire, Brexit Britain, Satire Ahead, Brexit, European Union

Photo by Dele Oluwayomi on Unsplash

Get ready for “New Europe…”

A cunning little plan is underway in the hallowed halls of Brussels, to restore sanity to the nation of Britain as its residents continue to defy logic and common sense, and vote their way back to the 1970s with it’s mass unemployment and broken economy.

As the final Brexit withdrawal date looms large, the EU, in a moment of extreme compassion have decided that the best option is to let the madness play out a little longer, then invade England and bring balance to the force (or something similar).

As Britain’s incompetent Conservative party continue to hoodwink and swindle the nation, the EU believes a short, sharp, military shock will awaken enough of the population from their self-imposed slumber to realise that the political playing-field is rigged and corrupted by the 1% at the expense of everyone else.

Under the plan, Scotland, Wales, and Northern Ireland would remain exactly as they currently are, but England would be re-named “New Europe” as a reminder of the dark days of Brexit where citizens of the DisUnited Kingdom voted to apply sanctions on themselves and remove personal liberties.

We wait with baited breath.
How to Fix Global Trade Flows
Tags: Global Trade, Trade War, Brexit, Exima, China

The World Trade Organization (WTO) has existed for more than 25 years. It was formed by over 100 countries with the common goal of facilitating global trade. The idea behind its formation was that it could help create an international trading system that could reduce tariffs and provide better access to products and services. Although the WTO is still the world’s leading trade entity, trade flows are no longer as smooth as they once were. They have been negatively impacted by recent events such as Brexit and the trade war between the US and China. So how can we fix global trade flows while improving access to different markets?

Fixing Global Trade Flows

The first and foremost step would be to reduce the current levels of friction between countries. For instance, the trade disputes between the US and China need to be resolved as soon as possible, and the UK must negotiate trade deals with other countries as well. Once all disputes have been addressed, global leaders must come together to formulate a long-term trade strategy that improves global trade flows. Countries must improve the dispute settlement mechanism to make sure that trade flows are not adversely impacted.

The next step could be to create an international team of decision-makers that could help in facilitating global trade. The current structure of the WTO is not able to exert influence over individual countries, and this needs to change. One option could be that the G20 leaders could come together to form a new trade body that helps countries in reducing trade barriers and improving volumes. Strong leadership is needed, especially due to the ongoing COVID-19 crisis. In addition to this, leaders must also create clear regulations related to protectionist measures, subsidies, and currency manipulation. These steps could go a long way in ensuring that the structure of trade flows improves once and for all.

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Britain’s Oven-Ready Turkey
By: Malky Mcewan
Tags: Brexit, Politics, Humor, Humour, Funny

Five years ago

David Cameron was prime minister, happily rambling along when a dark shadow from his past whispered in his ear and reminded him of his student high-jinks. Bullied into it, he promised to have a referendum that only the dark shadow and a Mr Jack Featherstone from Cleethorpes wanted, but he didn’t think he would lose.

Nobody could say why Brexit was a good idea, except Nigel Farage, who said it but couldn’t give any reason why he said it. Everybody knew why he said it and it wasn’t because it was a good idea.

The government did a secret report on the impact of Brexit and then said we couldn’t know what is in the report because it is just speculation, then they speculated Brexit would be good, but the report was leaked and it said it would be bad — which they ignored.

The Shadow Minister for Education, Boris Johnson, backed the side he didn’t believe in because he didn’t think it would win.

Nobody in their right mind thought anyone would vote for Brexit, so only the people not in their right mind turned out to vote and everyone puffed out their cheeks and expelled air in disbelief when Brexit happened — even those who voted for it were dumbfounded.
"Brexit: The Uncivil War"
By: Robert Oldershaw
Tags: Leadership, News, Brexit, Politics, Life

"Brexit: The Uncivil War"

Last night I watched that movie. Truly excellent. I especially liked the brief walk-on of the actor playing Robert Mercer, the Cambridge Analytica pseudo-criminality, and the thinly veiled hint that the Brexit election manipulation was a "trial run" for something bigger in 2016.

Brave new world indeed!
Weekend Forex Report (GBP Focused)
By: Alexander Hannoun
Tags: News, Forex, Brexit, Trading, Forex Trading

Eventful week ahead!

Headlines

UK PM Johnson: Talks are deadlocked (Friday 13:50 GMT)

PM Johnson: “It is very likely we will have a no-deal Brexit”

EU’s Von Der Leyen: Brexit positions remain far apart on fundamental issues

Told EU leaders that probability of no-deal is higher than that of a deal

Added that she has “low expectations” for a deal

German foreign minister believes a solution in talks with UK is difficult but possible and that they will continue negotiations as long as there is even a small possibility of reaching an agreement

Irish foreign minister Coveney still believes it is possible tog et a deal done

Brexit: What’s the latest buzz on the Brexit front as we approach supposed “point of finality” (Sunday 9:20 GMT)

The latest is that UK foreign secretary, Dominic Raab, is out saying that talks are not looking good while technical discussions are still ongoing. He insists that movement is needed by the EU on a political level to strike a compromise

The same key outstanding issues are still leading to a stalement with Raab saying that the proposals put forward by the EU have been “pretty outlandish”

As things stand, we could either see a deal, no-deal, or perhaps even talks be extended further beyond this supposed “point of finality”

Brexit trade talk update: EU and UK have decided to continue talks (Sunday 21:06 GMT)

UK coordination Group will have an exchange of views with EU chief negotiator Barnier at 9:30 Brussels time.

Front page of the UK Times expresses optimism on Brexit trade talks as talk extended once again (23:23 GMT)

Summary

As of the Friday close, no Brexit deal, no Covid stimulus deal in the US and London may have to go to Tier 3 restrictions as a result of increasing Covid cases. The good news is a vaccine will likely be approved imminently. Whether it is today or tomorrow (Friday or Saturday), the expectations are that by Monday the administering of the vaccine can start what will be a long and arduous process.

As for how the markets went on Friday, the JPY was the strongest of the majors, while the GBP was the weakest as no-deal Brexit chance increases. The GBP was the runaway weakest of the major currencies this week.

What are we looking for ahead

Eventful week ahead with plenty of high impacting key events and releases. We have US electoral vote, FOMC, Bank of England, Swiss National Bank and Bank of Japan interest rate decision (just to name a few. Make sure to take a look at this week’s economic calendar for more details on what is being released!
Chalkboard Thoughts — Dec 12, 2020 — Episode 3 — Brexit!
By: Michael De Groot
Tags: Europe, Chalkboardthoughts, Brexit, Shareyourstory, Stayingaliveuk

The U.K. is on the verge of leaving the EU without any kind of trade deal, it’ called WTO Rules, or World Trade Organisation Rules. Nice considering we were all told that by Boris Johnson the deal was ‘oven ready’. Some of you will remember Theresa May who frequently used the phrase ‘Brexit means Brexit’. But actually that’s not what it means at all. Brexit means something different for many people, for some it’s their job they will lose, for others, their business turnover will suffer, for others it means holidays will not be as convenient. I’m Dutchman and have been in the UK for over 40+ years, still have my Dutch Passport and yes I applied and received approval to stay in the UK indefinitely and I’ve never been a big fan of Brussels, however I do believe the whole Brexit matter has been unbelievably badly dealt with. So what does Brexit mean for you?
Brexit — Boris Johnson’s Oven Ready Deal Burnt to a Crisp
By: James Pool
Tags: Brexit Britain, Boris Johnson, Brexit, UK Politics, Brexit Negotiations

“So Long, Farewell, Auf Wiedersehen, Goodb… oh Hell! Which is the way out?”

Bumbling fool Boris Johnson’s oven-ready Brexit deal has been burnt to a crisp. Not just burned to a crisp. It has been decimated, humiliated, assassinated and cremated.

As he stares down at the charred remains of his (beaten) unbeatable deal, his (broken) unbreakable deal, and his (wavered) unwaverable deal ( you get the picture), he knows his time in office is short and that his options are narrowing.

His ability to lead the nation and represent the people has never been in doubt. We always new he was incapable of doing either.

Now stepping into the spotlight of Brexit trade negotiations, having spent most of the past year in hiding, he has been found wanting. He has been found weak. He has been found incompetent.

This is what happens when a pathological liar is forced to face reality, and deal with people of superior intelligence who adhere to procedure and have little time for rule-breaking charlatans.

As a national embarrassment, Boris Johnson plays the part of court jester very well. His twitchy mannerisms, stumbling speech, and unruly hair, paint the picture of a person who should be able to get away with almost anything… providing his carer is nearby.

But that won’t cut it on the international stage. The ancient word of buffoonery and its even older manner of behaviour just won’t translate to the international scene. There’s no stage for the bumbling oaf in Europe, no cheerful political landscape, and no sympathetic Daily Mail readers with their “it’s just Boris” attitude.

When you elect a circus, you must expect clowns. And as we have seen with this conservative government, political clowns come in many forms. From the bumbling embarrassment that is BoJo the Clown, to the sinister “It”-like creature that is Priti Patel, and almost everything inbetween.

It is difficult to imagine any other world where Boris Johnson and his gross ineptitude, convictions-for-hire, and insane moral flexibility could thrive. But supported by the army of troglodytes that forms his cabinet, who enable his outlandishness and enbolden his ambitions, Boris confidently surfs the wave of a lifetime… over a cliff, taking the rest of the nation with him.
Of Leeds United, Brexit Britain and Hope
By: Aidan Courtney
Tags: Brexit, Soccer, UK Politics, Current Events, Eu

The next three years …

The best that Leeds fans could hope for in the 2007/8 season was to be promoted back to The Championship; the Premier League would have to wait. In contrast, a ghost of Cameron’s simplification survives in comments by Remainers — that the UK should re-join the EU; and by Leavers — that this will never happen. For some, little has been learned from the protracted Brexit process.

The UK is far too polarised to simply re-join the Union. But it could start heading in that direction by seeking closer trade ties and re-joining the SM&CU. Promotion to the Championship is what is needed.

Although the current Conservative government has too much political capital invested in Brexit for it to reverse course, irrespective of its consequences, the same is not true for the UK’s other political parties. Unless Brexit proves to be an extraordinary success in the next three years, the UK’s relationship with the EU will remain a central issue for the next general election, scheduled for 2 May 2024. Anything other than a Tory victory will lead to a new government with different views on engagement with the EU. There is no need for Labour or other parties to risk the ire of Leave supporters by proposing to undo Brexit. That can wait. It will be enough to propose that the UK would be better off with a more substantial trade deal with Europe and that this might be via membership of the Single Market and Customs Union — if acceptable terms can be agreed.

Just as Leeds spent three years in League One, the UK will spend from 2021 to 2024 outside the SM&CU. But this period in the third tier could end soon afterwards. And once back in the second tier, a natural question to ask is: why be a Rule Taker?

… and the ten after that

There is of course no connection between the ten years Leeds spent in The Championship and the time needed for the UK, once inside the SM&CU, to negotiate full membership of the EU. But a decade may be required.

Unencumbered by a written constitution, Parliament could agree to re-join the EU without a public vote, as it did in 1973. But it is far more likely that the process will be the same as the Brexit referendum. A political party will need to win power in a general election with a proposal to hold an EU referendum in its election manifesto. With the next general election due in 2029, it will be the early 2030s at least before a referendum is held and terms for re-joining negotiated — with possibly a confirmatory referendum after that for good measure.

Ten years on from the general election in 2024, is likely to see both another UK general election and the start of the next seven-year EU budget. It would be timely to have completed the process by then.

Of course, the Tories might win the 2024 election and the one after that. But unless Brexit delivers economic success, the issue of whether to move closer to the EU will not go away.
No deal BREXIT? What could this mean for the United Kingdom?
By: Louise Frank
Tags: Brexit, Politics, Conservatives, European Union, England

Boris Johnson making a visit to SSE Renewables

As the deadline for a Trade deal with the European Union Creeps closer. Many businesses worry how will this affect their company’s: including themselves and their employees. The conservative PM came out saying a “no deal Brexit is very, very likely”.

The United Kingdom has already signed trade deals with Singapore, Japan, Australia, New Zealand and are hoping to achieve a trade deal with its neighbor “over the pond” the United States of America.

Why haven't the United Kingdom and the European Union agreed on a trade deal?

Quite simply, they can’t agree the European Union wants fishing zones in which are considered “English waters”. This is due to the fact that the United Kingdom exports most of its fish to other European countries, where they consume more sea food produce than the United Kingdom. They also can’t agree on food regulations — the most likely outcome is that more food will be imported from countries outside of Europe.

Congestions in Kent

Has havoc already began?

Long congestions in Kent (mostly in Dover) have already begun, for multiple reasons one being COVID-19 and the other being regulations between England and France already beginning ,or setting up.

In conclusion, the worry for the United Kingdom now is the relationships and connections they have tarnished during the long process of Brexit.
Fishing — a Brexit Red Herring. Ill-informed and pointless — the UK:EU…
By: Aaron Woolner
Tags: Europe, Brexit, Fishing, Ineos, Economy

Ill-informed and pointless — the UK:EU dispute over fishing rights is a metaphor for Brexit

My grandfather used to keep a box of red herrings under his bed. He would start every day by chomping on one of the briny, smoked fish for his breakfast. The smell was appalling and stank the whole house out, years later my mother would visibly grimace as she retold the story. But my grandfather didn’t care. The smell didn’t bother him, so it didn’t matter.

If he was alive today he would definitely support Brexit.

During the 1930s my hometown, Lowestoft, was a major North Sea fishing port, with so many fishing boats you could walk across them from one side of the harbour to the other. Try that today and you would plunge into the frigid water on your first step. There are no fishing boats left. Not one. Zero. Zilch. Head 10 miles up to the coast to Great Yarmouth and the story is the same. Another once mighty fishing port that no longer does any fishing.

And the explanation for this is simple: there are no fish to catch. The North Sea is dead, a watery desert, whose once abundant waters are empty as a result of a chronic combination of overfishing and environmental degradation — not because of predatory French fisherman stealing English people’s piscine birthright.

In 2019 fishing contributed a miserable 0.12% to the UK economy, with the vast majority of that cash coming from Scottish shellfish and fish farming. Fishing in the rest of the country contributes a rounding error to UK PLC’s bottom line.

Nothing sums up the benthivore mindset of the Brexit brigade better than the fact discussions over a UK:EU trade deal are stuck on the issue of fishing rights in the English Channel. French fishermen currently take 80% of the catch, which sounds a lot, until you realise that’s basically eight tenths of nothing.

The Argentine writer Jorge Luis Borges memorably described the Falklands War as, “two bald men fighting over a comb”, but at least those islands have some resources — thriving fishing grounds and plentiful oil reserves. Compared to that the current dispute over fishing rights in British waters has all the purpose of two drunks in the park having a punch-up about an empty can of Special Brew.

It would be laughable if the consequences for the UK economy of a no deal weren’t so serious. Yesterday, Brexit-backing Ineos CEO, Sir Jim Ratcliffe, announced from his Monaco tax-haven that his “British” replacement to the Land Rover Defender would be built in France, because, well, he’ll make more money that way. At the same time Honda, who actually make cars in the UK and employ 1000s of British workers said they were pausing production because of supply chain issues linked to coronavirus and Brexit.

And Brexit hasn’t even happened yet.

The UK economy is headed for an economic apocalypse on January 1 and yet the country’s political leadership is splitting hairs over whether fisherman in Dover can catch five or ten cod next year. It’s an negotiating tactic that smells worse than the fish under my grandad’s bed.
How did Labour end up on the wrong side in the Brexit culture war?
By: Neil Schofield-Hughes
Tags: Brexit, Culture War, Trade Unions, Labour Party

The main purpose of Brexit has always been to roll back employment law and environmental standards: to create an ultra-capitalist state along lines that Ayn Rand would recognise and applaud, but dressed up in nationalistic and nostalgic language. Brexit is, and always has been, a culture war. That is why there is not going to be a deal.

And where is the UK Labour movement in all this? Not just the Labour Party but the Trade Union movement, whose members will be hurt so badly by this?

Keir Starmer talks of “moving on” and Len McCluskey argues that Labour must back even the denuded deal that appeared to be on the table up until a few days ago. Of course it is true that the people who will be hit hardest are those who are not unionised but didn’t the Labour and Trade Union movement once believe in solidarity, rather than just using warm and fuzzy words about it?

Labour has forgotten how to oppose. Its leadership appears to lurch between allowing Tories to set the agenda (Miliband, Starmer) and the privilege-laden intellectual Onanism of the Corbyn years. It has not understood the sociological and political changes that underpin Brexit and led to a resurgence of the nationalist Right, and more importantly does not seem to want to. It does not understand that chasing the Red Wall vote by acts of moral appeasement of the Right is doomed to failure — not least because it is a declining demographic, while the educated, liberal- and diversity-minded demographic is younger and growing.

It has failed to understand that the future of progressive politics in the UK lies with harnessing the energy and idealism of the anti-Brexit tribe; of re-embracing and reasserting the liberal and social democratic values that the movement to stop Brexit expressed. Over Europe, Labour has repeatedly let down the people who could and should have been at its heart.

But the fact that Trade Union leaders have been prepared to back this assault on everything they ought to stand for will be seen by historians as perhaps the most astonishing outcome of the Brexit era. How the Labour movement ended up on the wrong side of a culture war will be the thing that will amaze future generations.
Another Bad News Day
By: Balancer, Dr Robin Lincoln Wood
Tags: Brexit, Future, Sustainability, Dystopia, Hope

Dystopia- The 21st Century JungleScape

COP 58

Let’s Pray we Never Get to this Point

“There are some who think we’ve already run out of time, that the hard landing is upon us now, which is what we’re seeing in current events. Have you heard that the warming of the oceans means that the amount of omega-3 fatty acids in fish and thus available for human consumption may drop by as much as sixty percent?

And that these fatty acids are crucial to signal transduction in the brain, so it’s possible that our collective intelligence is now rapidly dropping because of an ocean-warming-caused diminishment in brain power? That would explain a lot.”

(from “The Ministry for the Future” by Kim Stanley Robinson)

I’m about 80% of the way through this massive book set 20 or so years in the future- CO2e levels are plateauing at 455 ppm, and starting to come down as some of the measures we should take in the next decade to avoid 1.5C+ overheating have taken 2 decades instead of one. Overheating of 2C+ and runaway warming are now likely in 2040, unless massive carbon drawdown accelerates.

“I read the news today, oh boy!”-

A Day in the Life by the Beatles, May 26, 1967- and what Bad News it is!

And then I made the mistake of reading all the news that’s mostly fit to print this morning, as I do every day with my plate of cereal and coffee. Lo and behold, the Boris Show now replaces the Trump Show in the headlines, as a no-deal Brexit looms before us. My kids in London won’t be able to visit us without a French visa. And I’ll now have the same rights as my Russian wife- to stay in France for another ten years unless I get a further Carte de Sejour in 2030. Luckily we are permanent residents so we get free healthcare.To the billionaires who fund and orchestrate the Boris Show so that they can continue to use the UK to pay virtually no tax (4% on global income for Murdoch, a major Brexit funder and supporter through his fake news newspapers, for example), ensuring that the rest of us pay way beyond our fair share, I hope your milk curdles as Brexit bites and throws millions into even greater poverty than they are now. A pox on all your houses and private jets. I rarely feel such levels of anger, as I’ve never expected the world to be fair- just a little bit better than it was a year ago. Right now we are going backwards to 1928 socially and financially.

I remains to be seen whether Biden and his team can deliver what is required to avoid further catastrophe socially and environ-mentally. The Boris Show is making good noises on COP 26 in Glasgow next year, with nationally defined commitments (NDC’s) that look like they may be aligned to a less than 2C warming scenario- but will they, can they actually deliver? Or is this just more smoke and mirrors?

So, perhaps I will finish “Ministry of the Future” this week, and be sufficiently provoked by some of the nightmare scenarios to redouble my efforts to avoid such a dystopian outcome. My question is, are you with me?

https://www.amazon.com/Ministry-Future-Kim.../dp/B084FY1NXB
Britain’s Brexit Brink
By: Christina Meier Ph.D
Tags: Trade Deals, Brexit, Politics, European Union, Brink

POLITICS

Britain’s Brexit Brink

Photo by Macau Photo Agency on Unsplash

In 2016, the UK voted to leave the Economic Union (Continental Europe). The result was not expected, and no plans for being equipped to leave had been made.

Prime Minister David Cameron promptly resigned, and Theresa May took his place. She stupidly called an election, in which she lost the Conservative majority and had to rely on the backward thinking Democratic Union Party of Northern Island to get votes.

Boris Johnson has been PM for just over a year. He called a general election and won a huge majority. He also got the pandemic, which has somewhat cramped his style.

During May’s tenure, she needed to come up with a ‘leaving plan’ which became known as the Divorce. She proved woefully unable to do this, mainly because she did not consult. Her proposals were put to the House of Commons three times before it was passed. We all got fed up with her, probably our worst PM, but she also had no empathy which was very apparent when Grenfell Tower burned down.

To cut a very long and boring story short, May faced a Vote of No Confidence, lost it and Boris Johnson has been PM for just over a year. He called a general election and won a huge majority. He also got the pandemic, which has somewhat cramped his style.

So, the Government of Boris Johnson has had to negotiate a trading deal with the EU, which we have left.

During May’s tenure, she needed to come up with a ‘leaving plan’ which became known as the Divorce. She proved woefully unable to do this, mainly because she did not consult.

We are three weeks away from the deadline and no deal is in sight. The sticking points seem to be that the French want continued access to British fishing waters. Also, there are issues with Northern Ireland having a land border with the EU. This border is what caused The Troubles, as the bloody war is known.

Britain used to be the largest fishing nation in the world. Now it’s fishing boats are in museums. Britain used to be a lot of things. Not all very environmentally friendly.

Personally, I don’t see why we should have laws made in another country. Some of them are absurd. But why should wanting sovereignty mean loads of customs checks, lots of forms to fill for businesses to export to the EU, and loss of any welfare if we travel in the EU?

Britain used to be the largest fishing nation in the world. Now it’s fishing boats are in museums

Britain joined a Common Market, and I think it should have stayed that way. So many treaties over the years have made us almost one country, and that has led to some far-right governments being elected in the EU.

So, we sit and wait for news. We face price rises and shortages of goods. Businesses are pleading for a deal. Boris is optimistic. He is our Winnie The Pooh.
Brexit and E-commerce: Who Does it Impact?
By: Kemal Sidar
Tags: Brexit, Amazon, Sales, Ecommerce

Clearly if you are trading domestically and sourcing all products locally then the process should have a significant impact on your business.

But Brexit will impact e-commerce merchants around the globe. Any British company that sells globally will be affected as well as British companies already selling in Europe, and foreign brands currently selling in the UK and across the EU. The actual impact will only be known once all the details are finalised but if you fall into any of these categories it is important that you prepare your business.

British e-commerce companies that sell outside the UK will have to follow new regulations when shipping outside of the United Kingdom and vice versa. In this situation any new restrictions and prohibitions would need to be considered, there may also be new tariffs and import duties to be paid which will have a knock-on effect on prices of products. There may also be restrictions on the products, or some may be prohibited. It is important to check whether or not these trade barriers relate to your business.

If you are a British business selling cross-border to the EU, there may be new tariffs when importing into the EU and various shipping restrictions and regulations when selling cross-border to EU countries. This could raise the prices of products being sold and cause potential delays when shipping to EU customers. It is important that this is built into the delivery timeframes for your customers as it will be an important time to retain existing customers and not the time to have disappointed customers.

As an international company selling to customers in Britain and the EU shipping and selling policies will need to be aligned with an independent UK in a post-Brexit world. This will likely mean that there will be separate UK-specific shipping and selling rules.

Although Brexit might impact your e-commerce business and may entail implementing some changes these should all be done with the customer in mind. The customer experience should still be as easy and convenient as possible as this is why people shop online. The customer should not be the party which is affected by poor planning. Any negative consequences should be mitigated and any changes that need to be made done so as soon as possible so that when new rules relating to online activities including e-commerce are live your business is ready.
How Scotland’s Exit from U.K. might be not what Blackford Says?
By: Wills Word - A Williams
Tags: Westminster, Snp, UK, Brexit, Politics

How Scotland’s Exit from U.K. might be not what Blackford Says?

Ian Blackford, Westminster Parliamentary Leader of the SNP one of politics most controversial figures an irritant to many in Westminster who as the SNPs Westminster voice in Prime Minister. Blackford’s role simply is to find the means of week in, week out using Westminster as scapegoat for all that’s wrong in politics. The SNPs campaigning rhetoric and Blackfords lines from the opposition is to paint the government and Westminster as the definition of Murphy’s law and an independent Scotland would solve all its problems.

Since the first independence referendum in Scotland in 2014 Independence has sharply been on a rise and a second referendum seems increasingly possible due to consistent electoral triumphs for the SNP in polling and elections. Seeing the union on borrowed times after being apart of Britain for centuries.

Today’s Prime Ministers Questions saw Blackford seeking to claim that Northern Ireland’s access to the European Single Market in the current Brexit deal is an injustice as for remain voting Scotland it denies Scotland the same access to European Economic bloc to trade with a economic bloc power house. It would present some practical challenges and almost seem impossible for Scotland to have significantly different concessions in trade agreements than England and Wales in the Brexit trade agreement purely because Scotland didn’t vote for Brexit.

Brexit deal or no deal to some could seem the biggest threat to the union. However, it seems that Blackford doesn’t make it clear that if Scotland were to Exit from the United Kingdom would find itself in a state of migraine conflicting with the Westminster government negotiating with its neighbour on matters on trade and other diplomatic issues. An independent Scotland or Scotland getting trade imports from the European could be relying on importing via England to Scotland being on the island of Britain not like Northern Ireland on the island of Ireland.

Part of the reason and what Blackford short sighted argument failed to recognise is the fact that if there were to be different trading relations between Northern Ireland and the Republic of Ireland would pose significant questions and challenges. First being that it would mean erecting an artificial boarder on the border between the Northern and Republic of which would pose significant challenges as would mean further checks and balances at the boarder. Any changes between the boarder and trading relations between the two nations would see possible political and diplomatic consequences as could brake interactions law or undermine the Good Friday agreement. Ignoring that would make any trade deal with the Biden administration a lot more difficult.

To say this simply, it’s alas another tied a tremor from Blackford to say Scotland should be a sovereign independent nation without recognising the consequences of what trading with the United Kingdom would mean. It may be a good time to hear from the SNP on their economic plan!
2 Pricks In Government Plus 1 In The Arm In The Same Week
By: Byron George
Tags: Brexit, Politics, UK Politics, European Union, Covid 19

2 Huge Pricks

Plus 1 Small Prick

It seems that we are coming to the endgame in the long-drawn-out Brexit saga with Boris flying at the last minute, supposedly to see Ursula the EU President to get a deal. That same oven-ready deal that he claimed to have when he got himself elected as Prime Minister.

His henchman Michael Gove yesterday announced that they had finally agreed with Northern Ireland whereby they could trade smoothly with the EU via the Republic in the south and also the UK across the Irish Sea. What a stupid announcement as that was what they had anyhow before this stupid one-dimensional government promised us the easiest deal ever with the EU, yep, that same one that we are still hung up on.

We are in the midst of economic nightmares from the Covid induced lockdowns, with High Street retailers seemingly going bust daily and unemployment at its highest for years. They have then decimated the one industry where most Brits get their pleasure, the pub. The Pub is the mainstay of most villages and cities and the only place to get away and relax or chat, but now they’ve brought in more stupid laws to make most of those unprofitable. The Pub can now only open if the customers have a “substantial meal” with the drink and can’t hang about after with a drink. This most crazy rule is enforced rigidly with the threats of a £10,000 fine on the publican. What makes it more lunatic is that I can go to a coffee shop like Starbucks and sit as long as I like, or if I buy a lemonade in the pub for my kids they can stay as long as they like. Trying to pin down a government minister on what entails a “substantial meal” is laughable as they have all contradicted themselves when interviewed. They throw it back at the Publican by saying that the term “a substantial meal” is an industry-standard term and the Courts would have to decide if they are arrested and deemed to be subverting the law.

Like the whole Brexit saga this government has completely cocked up the whole Covid rules, with Boris’s aide Cummings being responsible for the reason most people ignored the travel advice and distancing in the first lockdown.

We are now supposedly all getting the Covid vaccine but with this government who knows whether even that will be successful, already there are some reports of allergic reactions. That little prick in the arm could well be the downfall of the big prick in Number 10, Downing Street. Time will tell if this will be the week that we get a Brexit deal and a Vaccine at the same time, 2 Pricks for the price of all or is that just Boris and Gove?
As ‘sticking points’ still hang in the air, Brexit talks enter the ‘final few days’
By: Genuine Matters
Tags: United Kingdom, Boris Johnson, UK, Brexit, European Union

It was in January when the UK walked out of the European Union and the episode got its name Brexit, and now the Brexit talks enter the ‘final few days’

Both of them were to mutually come to a common ground concerning the rules and regulations that shall navigate the UK after exiting the EU. However, the shared agreement to a pact still can’t be reached.

On Saturday, Boris Johnson and Ursula Von Der Leyen, the British Prime Minister and the president of the EU Commission respectively had a conversation on call that yet again ended non-conclusive.

The discussions and talks have been deadlocked for months now. Many attempts have been made to attain mutuality before December 31.

Both the leaders met on Monday in Brussels for an interactive negotiation for so-called final Brexit talks but they hit the brick wall again.

In the joint statement released, they cited the reason the matters were left open again as “the remaining significant differences on three critical issues: level playing field, governance and fisheries”.

Before having a look at the issues, let’s have a look at what exactly is Brexit?

What is Brexit?

It is a term coined by former lawyer Peter Wilding. He first wrote about it in 2012. The then-prime minister of UK David Cameron pronounced a referendum on whether should the UK continue as a member of EU or should it retreat.

European Union is a group of 28 member states (before Brexit). It ensures and enables smooth trade and easy migration and movement of people among these states.

UK has from beginning been a detached kid of the union. It has never been supportive of the trade, security and especially migration policies of EU.

Time in and time out, it has arranged for polls and referendums to give an ear to the public opinion.

At last, it finally managed to step out of the cluster but not without enough problems on its sleeves and now we can see the Brexit talks have entered its final days

The ‘sticking points’ of the deal

EU and UK are supposed to work out a pact concerning the future dealings of the UK. The areas to be touched are trade, fishing and execution of the agreement.

Clearly the two can’t seem to go along well on same lines which are yet to be decided…. Read more at Genuine Matters
European / London Session News Wrap
By: Alexander Hannoun
Tags: News, Forex, Money, Brexit, Forex Trading

Big day ahead for North American traders!

Headlines

UK’s Gove: There can be scope for compromise on fisheries (8:20 GMT)

Ireland deputy PM, Leo Varadkar, also says he thinks Boris Johnson is also willing to make concessions.

Brexit: Johnson, Von Der Leyen meeting expected to start at 19:00 GMT later on today (9:07 GMT)

In the meantime, it’ll just be more about going through the rumour mill.

Ireland’s Coveney: UK has sent signal that it wants to rebuild trust (10:10 GMT)

Referring to the deal “in principle” on the Northern Ireland border checks from yesterday.

Summary

It was another European session riddled with Brexit headlines, with the main event yet to come in Brussels later today. GBP rose on hopes of a significant breakthrough.

As we see more of a risk-on tilt in the market ahead of North American trading, we saw risk currencies gain strength across the board against safe haven like currencies.

What are we looking for ahead

Brexit is still the key focus but we will also have the Bank of Canada (BoC) decision later on as well as more US stimulus talks.
North American Session News Wrap (GBP focused)
By: Alexander Hannoun
Tags: Forex, Brexit, Day Trading, Trading, Forex Trading

Another day with mixed Brexit headlines, however comments are still negative towards a deal…

Headlines

EU Financial services Commissioner McGuinness: Not confident on a Brexit deal (14:23 GMT)

EU McGuiness shares the same pessimistic view as Irish Prime Minister

Commission prepared on no deal contingency plans today

Contingency plans will be narrow, focused on areas such as aviation

Not very confident following British PM speech in Parliament today

Prospect of talks running into next week not realistic regarding ratification

France’s Beaune: Brexit deal is possible, we are working on it, but still far apart (15:37 GMT)

Although the comments include “possible” option, the gist of the comments are still more negative toward a deal.

Summary

Top news headline in North American trading was the weekly crude oil inventories surging by 15.189M barrels as the expectations were for a drawdown of -1.035M (that was quite a miss).

In the EU/UK, the Brexit negotiations continue, but there was more of a tilt to the no-deal side today as the clock continues to tick.

The stock market lost a little of its luster today. NASDAQ broke its 4 day win streak having its worst day since October 30. S&P had its worst day in 3 weeks. Those declines came after all three indices traded to new all-time session highs intraday!

What are we looking for ahead

Tomorrow’s focus will be on the ECB’s final interest rate decision (no change is expected). Lagarde is conducting a press conference at 8:30 AM ET. Of course, keep an eye out for any significant Brexit headlines.
Postponed VAT accounting from 1 January 2021
By: Makesworth Accountants
Tags: Brexit, Tax Tips

The Brexit transitional period comes to an end of 31 December 2020 and various changes come into effect from 1 January 2021. One of these changes is the introduction of postponed VAT accounting. This will affect you if you are a VAT-registered business and you import goods into the UK, particularly if you do not use duty deferment.

Nature of postponed VAT accounting

Under postponed VAT accounting, you declare and recover VAT on the same VAT return. This is beneficial as it means that you do not have to pay the VAT upfront and recover it later. Normal VAT rules continue to govern what can be reclaimed.

You can use postponed VAT accounting from 1 January 2021 if your business is registered for VAT in the UK and you import goods into Great Britain from anywhere outside the UK or into Northern Ireland from outside the UK and the EU.

There are no changes to the VAT treatment of goods moved between Northern Ireland and the EU, or in the way in which the VAT is accounted for.

Accounting for import VAT on your VAT return

You can account for import VAT on your VAT return if:

you import goods for use in your business;

you include your EORI number, which starts with ‘GB’ on your customs declaration; and

you include your VAT number on your customer’s custom declaration if required.

If you use customs special procedures, you can account for the import VAT on your VAT return when you submit the declaration to release those goods into free circulation.

Completing your VAT return

The introduction of postponed VAT accounting means that there are some changes to the way in which you will complete your VAT return from 1 January 2021.

You will need to download a monthly statement which shows the total import VAT postponed for the previous month which you will need to include on your VAT return. There are also changes to what you need to enter in Boxes 1, 4 and 7.

In Box 1, include the VAT due in the period on imports accounted for through postponed accounting.

In Box 4, include VAT reclaimed in this period on imports accounted for through postponed accounting.

In Box 7, include the total of all imports of goods shown on your online monthly statement, excluding any VAT.

Consignments not exceeding £135

Where the value of the consignment is less than £135, VAT will be collected at the point of sale rather than at the point of importation.

For More information on Postponed VAT accounting from 1 January 2021, Book a Free Consultation

Source:- https://makesworth.co.uk/postponed-vat-accounting-from-1-january-2021/

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North America Session News Wrap
By: Alexander Hannoun
Tags: News, Forex, UK, Brexit, Forex Trading

Headlines

UK says deal on withdrawal Joint Committee (13:21 GMT)

UK’s Gove says delighted to announce agreement in principle on all issues in the EU-UK withdrawal agreement joint committee

EU Sepcovic says agreement will ensure withdrawal agreement is fully operational as of January 1st including protocol on Ireland/Northern Ireland.

The withdrawal of the 3 clauses which broke international law from its internal Market Bill is a necessary prerequisite to the agreement of any trade deal. There is still work to be done. However, GBP gained strength on the news.

Brexit: Germany’s Roth says there is no substantial progress (14:31 GTM)

The only thing new in Brexit negotiations is the meeting between Johnson and Von Der Leyen.

It range totally uncertain whether Britain and EU can reach a deal. GBP moved back down on the news.

Sky Adam Parsons: Barnier says chances of a deal are now very slim (15:25 GMT)

According to EU sources, Michel Barnier told a meeting of ministers this morning that the chances of a deal were now “very slim”.

Barnier said: “We are close to the moment of needing urgent measures-a contingency plan for no deal.

GBP moved back toward the day’s lows on the news

UK Minister Gove: We hope there will be movement on EU side of deal talks (17:28 GMT)

He also mentions that a deal is in all our interests, but can’t be at any price.

Summary

Trading of “other pairs” outside of the GBP was characterized as dull today.

In other markets today, the US stock indices continue to push higher. Both the S&P and NASDAQ closed at record highs. On the other hand, DOW made a new intraday, but could not close at record levels.

What are we looking for ahead

More Brexit mood swings to come tomorrow on supposedly the “final day”.