Fiona Maxwell

London

UK Financial Services Editor at POLITICO

UK Financial Services Editor at Politico: [email protected]. Previously: MLex, BoE, Risk.

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Articles

Britain’s Reeves calls for closer EU-UK defense ties

1 month ago | politico.eu | Fiona Maxwell

They are likely to discuss the re-arming fund proposed by Brussels, which would see a €150 billion loan program for EU governments to spend on weapons and equipment. In order for the U.K. to be involved in the scheme, it needs a formal defense agreement with Brussels — something held up by a dispute about fishing quotas, among other issues.
Trump’s tariffs war set to hit UK growth, warns Bank of England

1 month ago | politico.eu | Fiona Maxwell

“Overall, tariffs are likely to lower U.K. growth,” she added.
Trump tariff war puts UK financial stability at risk, Bank of England warns

1 month ago | politico.eu | Fiona Maxwell

Trade ructions could rock financial stability by lowering growth, the Bank of England warned Wednesday as U.S. President Donald Trump’s latest round of tariffs take effect. The global risk environment has deteriorated and uncertainty has intensified, the central bank’s Financial Policy Committee (FPC) said in a record of two meetings held over the past week. As the prospect of an all-out global trade war grows, the FPC also warned of reduced international cooperation.
Trump tariff war puts UK financial stability at risk, Bank of England warns

1 month ago | finance.einnews.com | Fiona Maxwell

“The probability of adverse events, and the potential severity of their impact, has risen,” the committee said. “A major shift in the nature and predictability of global trading arrangements could harm financial stability by depressing growth,” it added. Trump’s additional “reciprocal” tariffs came into force overnight, following days of market volatility in anticipation.
Why five judges could blow a hole in Labour’s economic plans

1 month ago | politico.eu | Fiona Maxwell

LONDON — Try as she might, economic growth appears to elude Britain’s top finance minister Rachel Reeves. Now the U.K.’s highest court might just box her in even further. Banks are nervously awaiting a three-day hearing in the Supreme Court this week which could end up costing them £30 billion in payouts for a massive motor finance mis-selling scandal.
Brexit reset tested as Brussels and London fight about finance

Feb 11, 2025 | politico.eu | Kathryn Carlson |Fiona Maxwell

BRUSSELS — The U.K. and the EU both want a Brexit reset. It seems like no one told the regulators. As top technocrats prepare to meet Wednesday for talks on financial services, cracks are beginning to form around the edges of the steadily improving relationship. And while it's usually the politicians held responsible for resurfacing Brexit-era wounds, this time the pencil-pushers only have themselves to blame.
Brexit reset tested as Brussels and London fight about finance

Feb 11, 2025 | finance.einnews.com | Kathryn Carlson |Fiona Maxwell

We need a Draghi report for banking, say EU’s 3 biggest countries Report should include a list of “concrete” policy recommendations for the sector which the European Commission would then implement.
British MP to Trump: Lay off tariffs if you want more defense spending

Nov 28, 2024 | politico.eu | Sophie Inge |Fiona Maxwell

LONDON — The government’s message to Donald Trump should be to “lay off tariffs” if it wants the U.K. to invest more in defense, according to Liam Byrne, chair of the business and trade committee. The president-elect has demanded that NATO allies spend a greater percentage of their GDP on defense — a demand which Byrne says the U.K. should use as leverage when faced with Trump’s threat of import tariffs of up to 20 percent.
UK car finance scandal: Banks fight court ruling that could cost them billions

Nov 27, 2024 | politico.eu | Fiona Maxwell

LONDON — British lenders are stepping up their legal battle in a growing row over car financing deals that could leave them on the hook for billions in payouts. Lenders have applied for permission to challenge a Court of Appeal ruling last month that found it was unlawful for lenders to have paid commission to car dealers without borrowers' knowledge and consent. The hidden commission meant consumers paid more for car finance.
UK must ‘rebuild’ EU ties after Brexit, says Bank of England boss

Nov 14, 2024 | politico.eu | Fiona Maxwell

LONDON — The U.K. must "rebuild relations" with the European Union "while respecting the decision of the British people" to opt for Brexit, the governor of the Bank of England said. In his most forthright comments on Britain's departure from the European Union yet, the central banker told financiers in the City of London Thursday night that Britain's changed relationship with the bloc had "weighed" on the economy, and taken its toll on goods trade in particular.