Britain’s desire to become a free trade leader following its vote to leave the European Union is seen as wishful thinking by experts, who say London’s hands are tied until a formal exit from the bloc.

Prime Minister Theresa May used this month’s G20 summit in China to explore potential trade deals with Australia, India, Mexico, Singapore and South Korea.

But international trade experts have been quick to highlight Britain’s lack of experience in such negotiations.

“Currently, legally speaking, the UK is part of the EU and therefore is not able to conclude free trade agreements,” said Hosuk Lee-Makiyama, director of trade policy think tank, the European Centre for International Political Economy.

“For me, it is more an experience problem because the UK has actually not negotiated” on such matters since 1973 when the country joined the European Union, Mr. Lee-Makiyama added.

At stake is Britain’s position as a major world economy along with its future economic and employment growth.

Published: 13 September 2016

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Britain’s desire to become a free trade leader following its vote to leave the EU is seen as wishful thinking by experts, who say London’s hands are tied until a formal exit from the bloc.

Prime Minister Theresa May used this month’s G20 summit in China to explore potential trade deals with Australia, India, Mexico, Singapore and South Korea.

But international trade experts have been quick to highlight Britain’s lack of experience in such negotiations.

"Currently, legally speaking, the UK is part of the EU and therefore is not able to conclude free trade agreements," said Hosuk Lee-Makiyama, director of trade policy think tank, the European Centre for International Political Economy.

"For me, it is more an experience problem because the UK has actually not negotiated" on such matters since 1973 when the country joined the European Union, Lee-Makiyama added.

Published: 11 September 2016

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London's mayor threw his support behind DJs and ravers on Wednesday by criticising the closure of the city's famed Fabric nightclub, after its licence was revoked following several drug-related deaths.

The local council revoked Fabric's license after an initial suspension last month at the request of police, following the deaths of two teenagers from suspected drug overdoses at the nightspot in the borough of Islington.

Khan described Fabric as an "essential part of our cultural landscape" and expressed his disappointment that the club owners, local authorities and the police were unable to reach an agreement.

Fabric, renowned for its drum and bass, techno and house nights, built up a reputation to rival fellow British clubbing institution Ministry of Sound over the last decade and a half.

"The issues faced by Fabric point to a wider problem of how we protect London's night-time economy, while ensuring it is safe and enjoyable for everyone," he said in a statement.

Published: 08 September 2016

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London's stock market fell Monday on a rallying pound, while eurozone indices lost earlier gains to close flat after a pre-weekend surge triggered by well-received US jobs data.

Wall Street was closed for a public holiday.

Oil prices bounced after the world's two biggest oil producers, Saudi Arabia and Russia, pledged to stabilise the market.

London's benchmark FTSE 100 index was 0.2 percent lower, as the pound jumped above $1.33 in the wake of strong UK services sector activity that further eased concerns over Brexit's economic fallout.

"August saw the UK economy score a hat-trick of good news with a record rebound in the services PMI to round things off after solid readings for the manufacturing and construction sectors," said Forex.com analyst Fawad Razaqzada.

"This is really good news for the pound, perhaps not so good for UK stocks in the short-term as it reduces the odds for further rate cuts from the Bank of England."

Activity in Britain's crucial services sector showed a record jump in August, rebounding strongly from a slump immediately following the country's vote to exit the EU, according to a survey.

Published: 05 September 2016

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Graduates applying for jobs in London's finance sector risk being overlooked if they wear brown shoes, a government-commissioned report into social mobility said Thursday.

"Opaque" dress codes practiced by those from more formal backgrounds are being used to judge candidates, with brown shoes a fashion faux-pas that many from poorer backgrounds may not be aware of, said the study.

"Managers often select candidates for client-facing jobs who fit the traditional image of an investment banker and display polish," it said.

"For example, some senior investment bankers still deem it unacceptable for men to wear brown shoes with a business suit."

One interviewee from a non-privileged background explained he was rejected despite being told that he had interviewed well.

"He said 'you're clearly quite sharp, but you're not quite the fit for (this bank), you're not polished enough'," he said of the explanation given for his rejection.

Published: 02 September 2016

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