By Victoria Hines

Brexit, a reference to the possibility of Great Britain leaving the European Union (EU) upon a referendum, has recently been at the forefront of the news cycle.  The passage of the European Union Referendum Act of 2015, allowing for a referendum on whether the UK should remain in the EU, has ignited a debate on the desirability of continued EU membership. UK Prime Minister David Cameron conducted negotiations in Brussels last week to try to encourage European leaders to support his EU reforms before the projected June 23 referendum. These objectives, which Cameron outlined last November, included: acquiring insurance that the Eurozone countries are not able to manipulate financial regulations for non-euro nations, reducing red tape on European businesses, enhancing national parliament power by exempting Britain from an “ever closer union,” and controlling migration. This deal, which gives Britain “special status” in the EU, is now being used by Cameron to assemble support for the UK to remain in the EU.   

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March 11, 2016

By Catherine Kent

On Monday, Britain’s High Court referred the case of a Russian state-controlled oil group, Rosneft, to the European Court of Justice. Rosneft brought the case against the EU and argued that the sanctions against them by the EU were invalid under a 1994 partnership and co-operation agreement between the EU and Russia. Additionally, Rosneft argues that the sanctions legislation is so unclear and uncertain that they violate general principles of law and the principle of legal certainty. The High Court decided that because the points raised by Rosneft were “at least arguable”, they should be referred to European Court of Justice.   

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February 25, 2015

By Catherine Kent

NITC, Iran’s main oil tanker firm, has been on and off the EU’s blacklist.  With the EU to put NITC back unto the blacklist, NITC sought an urgent injunction on Friday to compel Britain to veto against EU decision. The High Court denied NITC the injunction on Monday, finding merit with Britain’s arguments that a British veto would detract from London’s reliability on the Iranian nuclear issue.

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February 24, 2015

By Sam Willie

A new American Chamber of Commerce survey reflects growing irritation amongst those looking to make foreign direct investment (FDI) in France. In particular, some respondents highlighted concerns regarding: the cost of labor, the corporate-tax regime, the economic environment, the social climate, including political instability and strikes, and the quality of the workforce. As a result and not too surprisingly, investors are turning to Britain and Germany to make FDI. At a time when competition for job-creating FDI is fierce, the sentiments echoed in the survey results should come as worrying news for French PM François Hollande.

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November 17, 2014

By Jenny Park

The world’s biggest banks met with British regulators to discuss the possibility of settling the investigation into alleged manipulation of the foreign currency market. The banks’ traders are suspected of manipulating the foreign exchange rates that served as benchmarks for investments, of colluding to fix prices, and of front-running customers. With a potential fine of up to $3.3 billion, this investigation is one of many, which includes criminal investigations by U.S. and Britain. These investigations resemble an earlier crackdown on banks, which rigged the benchmark for credit card rates and other loans, which resulted in billions of dollars in penalties.

Read more here.

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October 16, 2014