Brexit: Over 14000 jobs endangered jobs in German vehicle industry

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The chancellor and the Brexit secretary are in Berlin on Wednesday meeting German business leaders as they try to convince the European Union that a bespoke deal to include special provisions for the City of London.

The Morgan McKinley report is one of the starkest data points yet showing how hiring has slowed as firms struggle to get clarity on what access they will have to Europe's financial markets following Brexit. The conclusion of phase one talks were deemed to have provided reassurance and the business leaders gave their views on how to maximise the benefits of an implementation period.

The top official noted that more than 80% of Britain's economy was based on services and the country's future growth depended on this sector.

The European Union risks opening the door to another global financial crisis if it refuses to give London's bankers a good trade deal, two senior United Kingdom ministers said, as the finance industry emerged as a key battleground for Brexit talks.

"For such a close trade partnership in goods and services to succeed, we will need to maintain our common principles - including our shared belief in high standards - and continue the intelligent cooperation of our regulators", the pair said. "What we are doing is working for the best deal for the British people for Brexit", Mrs May told reporters.

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At Thursday's meeting May asked the finance titans to "emphasise the benefits for Europe as a whole of the UK's financial centre" during any conversations they have in European capitals, the Downing Street spokesman said. Why should you cut yourself off from the world's leading financial centre right on your doorstep and find yourself beholden to other centres like Hong Kong, Singapore, New York or Tokyo?

The intervention from the British government is carefully timed to make the case for a more ambitious trade agreement than the European Union now seems willing to offer, before the remaining 27 member states make up their minds.

Lord Price said: "Everybody I met said what they wanted to do that - and have the current agreement preserved in April 2019".

New independent assessments of the potential impact of Brexit have revealed the extent of the possible economic risks - and human cost - at stake in the European Union withdrawal negotiations. He wants Ministers to abandon their hard Brexit approach and instead to push for continued British membership of the single market and customs union.

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