Trade

August 26, 2020

Taking sides? The China conundrum

Trade relations are testing business leaders everywhere but particularly those whose governments are strongly aligned with the United States, Geoff Kitney writes. Boris Johnson’s China…

June 22, 2020

Brexit trade wars: beware corporate America’s power

The idea that the UK after Brexit could expect to get some sort of inside running for a beneficial trade agreement with the US needs…

October 29, 2019

An ‘economic competitor’ on the EU’s doorstep?

Any attempt to undercut long-established European standards would be an effective declaration of economic warfare, writes Geoff Kitney. Amid the raucous and sometimes ill-tempered hubbub…

June 17, 2019

‘Free’ trade with the US could prove costly

Britain Beware! Special relationships are rarely worth much when national interest overtakes rhetoric, writes Geoff Kitney. When President Donald Trump made his recent trip to…

March 18, 2019

Complex language of trade falls on deaf ears

The empty space that sits where detailed, comprehensive and forward-looking planning for British post-Brexit trade should be set out is arguably the most perplexing example…

February 11, 2019

5G, Huawei and a technology tipping point

The US-China trade war has already seen various skirmishes, around intellectual property, steel and soya. One, however, is shaping up to be a battleground that…

October 30, 2018

Corporate America waits in the post-Brexit wings

Trade deals involve trade-offs and every trade deal the UK strikes will involve some degree of sovereignty shedding, writes Geoff Kitney. The great phoney war…

September 17, 2018

Have you got your Brexit parachute on yet?

Businesses in Leave’s north-east heartland are preparing for an EU deal that – good or bad – will have far-reaching consequences for the local economy,…

May 31, 2018

The art of the win-win negotiation

Or as John Egan discovers, in diplomatic parlance, it is the art of compromise. It seemed that the time for talking was running out at…

May 8, 2018

‘Dialogue of the deaf’ proves an expensive exercise

Post-Brexit trade policy and whether or not the United Kingdom wants to remain in the European Customs Union, has not sparked the informed debate it…

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Trump’s Northern Ireland envoy issues warning
Donald’s Trump special envoy to Northern Ireland has warned against creating a “hard border by accident”, as Boris Johnson presses ahead with new legislation which threatens his Brexit divorce deal with Brussels. Mr Johnson wants to introduce laws which will limit the EU’s ability to influence customs arrangements and subsidies in Northern Ireland if the EU and UK cannot agree a trade deal by the end of the Brexit transition period on December 31. The move, which the UK admits is a breach of international law, has led to a backlash from the EU and senior US politicians in Washington who fear a violation of the Northern Ireland protocol in a no-deal scenario could undermine more than two decades of peace in the region. Financial Times, September 18

Uber gives police data on drivers and passengers
Uber has won support from police to keep its licence because it hands over thousands of pieces of intelligence on drivers, passengers and journeys each year, The Times has learnt. The National Police Chiefs’ Council claims that its ability to tackle drug dealing, human trafficking and child sexual exploitation would be hindered if it lost such “data and support”. A court has been told that senior officers want it to continue operating because of the “vital” information, amounting to 2,000 pieces of intelligence a year in the capital alone. The information provided by the company, which is in contact with police forces across the UK, is useful because minicabs have been used for drug transporting and child trafficking but the revelation has prompted concerns from drivers about their privacy, as well as that of their customers. Uber has 45,000 drivers and is used by 3.5 million people in London, its biggest European market. The Times, September 18

UK test and trace ‘barely functional’ as 11m face lockdown
The coronavirus test and trace system was condemned as “barely functional” today as its tsar admitted that demand was up to four times capacity, while 90 per cent of tests were failing to hit the 24-hour turnaround target. The Guardian has seen documents showing tracers taking up to two weeks to contact friends, relatives and workmates of people diagnosed with Covid-19 – the entire length of the self-isolation period. But amid growing anger and lengthening queues at testing centres, Dido Harding, head of the £10bn NHS test-and-trace programme designed to prevent a second wave of Covid-19, told MPs on Thursday: “I strongly refute that the system is failing.” It came as sources said Leeds and Lancashire were expected to face enhanced lockdown measures, bringing the number of people subject to restrictions to more than 11 million, including nearly 2m in north-east England. Official figures confirmed a 75 per cent increase in positive weekly cases across England last week. The Guardian, September 18

UK on standby to nationalise more rail lines
The UK’s Department for Transport is on standby to nationalise more railway lines within days if it fails to agree a new rescue deal with train operators pummelled by the Covid-19 crisis. In March the government rescued the railways by providing six-month Emergency Measures Agreements, worth about £700m a month, underwriting losses for the entire industry. The package, which effectively nationalised the sector, ends on Sunday and the DfT is holding detailed negotiations with the train companies for a successor scheme dubbed ERMAs. The pandemic has prompted a crisis in the railways with passenger numbers plunging as many workers were ordered to stay at home through the late spring and summer. It was only in July that the government allowed train operators to encourage passengers to return after discouraging all but essential travel for key workers for four months. Despite the ideological opposition of Conservative ministers to sweeping rail nationalisation, the government has been running two lines since well before coronavirus caused economic havoc: the Northern franchise since March and the East Coast Mainline franchise since 2018. Financial Times, September 18

Care homes to get free PPE in winter action plan
Care homes will get free protective equipment and a chief nurse will be appointed to oversee adult social care as the government tries to protect the sector in the face of rising infections. Tighter restrictions will be placed on care home visits in areas with high numbers of coronavirus cases as part of ministers’ winter action plan. Visits may be temporarily limited in all but end-of-life situations in areas subject to local lockdowns, while in other places officials are considering having one designated visitor per resident. It comes amid fears that mistakes made early in the pandemic could be repeated. ITV and Channel 4 found evidence of care homes facing pressure to accept hospital discharges of patients who have tested positive for coronavirus. Between March and June coronavirus was linked to nearly 30 per cent of all deaths in care homes. The Times, September 18

Tighter virus rules considered for England
New England-wide measures which could see hospitality businesses shut are being considered by the UK government to slow a surge of coronavirus cases. A short period of tighter restrictions – lasting a few weeks – could be announced in the next week, BBC political editor Laura Kuenssberg said. Schools and most workplaces would be kept open during those weeks. Health Secretary Matt Hancock has told the BBC the government is “prepared to do what it takes” against Covid-19. Speaking to BBC Breakfast, the health secretary said there had been an “acceleration” in the number of coronavirus cases in the last couple of weeks, and the number of people admitted to hospital with coronavirus was doubling about every eight days. He stressed it was “critical” that people follow social distancing guidelines and local lockdown rules – where they apply. BBC news, September 18

Home Office data on undocumented immigrants ‘disturbingly weak’
The UK government relies on a “disturbingly weak” evidence base in assessing the effects of its immigration enforcement and has little knowledge of basics such as how many undocumented migrants are in the country, parliament’s public spending watchdog has said. The House of Commons public accounts committee made the findings in a scathing report scrutinising the effectiveness of the Home Office’s £392m annual spending on immigration enforcement. The department says the aim is to reduce the number of people living in the UK without permission and the harm that population causes. However, the committee found the department had not estimated the size of the undocumented population since 2005, when it was put at 430,000. The independent Pew Research Center of the US last year estimated that between 800,000 and 1.2m people were living in the UK without permission. Financial Times, September 19

£50bn in cash has gone missing
At least £50 billion of bank notes – the equivalent of more than £1,000 for each adult in the country – has disappeared from circulation, according to the spending watchdog. In a report published today, the National Audit Office says that demand for bank notes has increased continuously over the past two decades despite the use of cash halving since 2010. It adds that no one really knows why demand is increasing or where all the missing money has gone. Theories include that people are storing cash at home because savings rates are so low and confidence in banks has fallen since the financial crisis. Low inflation has also made stuffing cash under the mattress more attractive. The report speculates that the notes could be being used in the shadow economy or taken overseas by criminal gangs or tax evaders. There is also likely to be a significant, though unknown, number of lost or destroyed notes. The Times, September 18

FBI warns of Russian interference in US election
Christopher Wray, the FBI director, on Thursday warned that Russia is interfering in the 2020 US presidential elections with a steady stream of misinformation aimed at undermining Democrat Joe Biden as well as sapping Americans’ confidence in the election process. Moscow is also attempting to undercut what it sees as an anti-Russian US establishment, Wray told the Democratic-led House of Representatives’ homeland security committee in a hearing on Capitol Hill. He said his biggest concern was a “steady drumbeat of misinformation” that he said he feared could undermine confidence in the result of the 2020 election. The Guardian, September 17

Qantas cuts chief’s pay by 80% and touts scenic trip in bid to survive
Qantas Airways has slashed the pay of its chief executive by more than 80 per cent and sold tickets for a “flight to nowhere” as part of efforts to survive the coronavirus pandemic. The Australian airline said Alan Joyce, one of the world’s highest paid airline executives in recent years, would not take any salary in the final three months of the 2020 financial year. He has deferred a long-term incentive payment of almost 350,000 shares until next year, pending board approval. Overall, Mr Joyce’s pay plunged 83 per cent to A$1.7m (US$1.2m) in the year to June. Total executive remuneration at Qantas fell to A$6.9m in the 2020 financial year, down from A$22.4m in the prior year, according to the company’s annual report, published on Friday. Qantas has turned to other avenues to generate revenue with much of its flight grounded. The airline said on Friday that tickets for a seven-hour scenic tour of Australia – which takes in landmarks including Uluru, Byron Bay and the Great Barrier Reef – sold out within 10 minutes. Tickets for the flight to nowhere cost between A$787 and A$3,787. Financial Times, September 18