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In the Media

Bloomberg BNA | VAT complications would likely follow British exit from EU

20 Jun 2016
|
Regions: 
EU/Eurozone,
UK

The concerns over Brexit tax implications are reflected in a new analysis of the Financial Times-Stock Exchange 100's 2015 annual reports, by advisory firm Global Counsel.

The analysis, issued June 14, shows that most senior business leaders consider Brexit the most serious political risk their global corporations face.

The Mark News | Bursting the Brexit bubble

Author: 
17 Jun 2016
|
Regions: 
EU/Eurozone,
UK

If Britain opts to leave the European Union in next week’s referendum, the repercussions will be felt far and wide, casting doubts on PM David Cameron’s leadership and emboldening other European nations to follow suit.

No one can say with confidence what the outcome of Britain’s referendum on Europe will be. Whatever the result, we can be certain it will leave a lasting impact on British politics and the nation’s relationships around the world.

Voice of America | EU officials: ‘Britain will have to pay a price’ for Brexit

16 Jun 2016
|
Regions: 
EU/Eurozone,
UK

Britain will have to pay a price, if it exits the European Union — if for no other reason than to send a warning message to other member countries that may consider leaving the bloc.

But leaving the European pact and shaping new agreements with EU countries could take 10 years, especially if relations between Brussels and London are fraught, argued Gregor Irwin, chief economist at Global Counsel, a political risk consultancy.

Euromoney | FX: Brexit imperils City’s status as euro-clearing hub

16 Jun 2016
|
Regions: 
EU/Eurozone,
UK

The European Central bank (ECB) is likely to quickly challenge London’s status as the eurozone’s largest hub for the clearing of euro-denominated trades if the EU referendum goes against UK membership – but the move, which would be seen as highly political, would be beset with legal challenges.

The ECB believes clearing and settlement is a critical piece of market infrastructure that it should oversee for financial stability purposes, explains Gregor Irwin, chief economist at Global Counsel.

Financial Director | Tax tops list of political fears for FTSE 100 companies

16 Jun 2016
|
Region: 
UK

Tax is one of the biggest fears for FTSE 100 companies, with businesses constantly wary of how BEPS could change international tax rules, a report from Global Counsel has revealed.

Dealing with political risk: What FTSE-100 companies say, found that tax accounts for over three quarters of fiscal risks for constituents of the FTSE 100.

Financial Times | Brexit conspicuous by its absence in UK groups’ annual reports

15 Jun 2016
|
Regions: 
EU/Eurozone,
UK

Looking at the 2015 annual reports of every member of the FTSE 100, only 26 — just over a quarter — mention Brexit. 

Global Counsel, an advisory group that analysed the 100 reports, said the quality of reporting on political risks was variable, “with an excessive tendency to report risks in a generic form that provided investors and other stakeholders with little information to evaluate their importance”.

Daily Sabah | Brexit's aftershocks to potentially disrupt UK and EU's economies

14 Jun 2016
|
Regions: 
EU/Eurozone,
UK

According to a report by London-based research company Global Counsel, Britain constitutes one-sixth of Europe. Ten percent of the EU's total export goes to Britain.

If it leaves the EU the action is expected to affect not only the British economy, but also goods and products exported by EU countries, due to changing customs fees.

Financial Times | One in three FTSE 100 companies worries about tax

13 Jun 2016
|
Region: 
UK

Tax, terrorism, regulation and Brexit are the four biggest worries for FTSE 100 companies, according to analysis of their annual reports.

“Some firms in the extractives sector... are worried about the impact of lower commodity prices on the fiscal positions of the countries they operate in and what this means for tax policies,” said a new report, from Global Counsel, an advisory firm.
 

Financial Times | Brexit fear hits foreign direct investment

24 May 2016
|
Regions: 
EU/Eurozone,
UK

Gregor Irwin, of consultants Global Counsel, said foreign investors disliked regulatory and political uncertainty and that was what Brexit implied. “The frank admission by Michael Gove that leaving the EU would mean leaving the single market will concern any potential investor who wants to use the UK as a base for their European operations,” he said.

“Inward investment in the UK will be held back until the uncertainty over Britain’s relationship with the EU is resolved.”