On 27 June Swedish Foreign Minister Tobias Billström and British Foreign Secretary James Cleverly participated in a public seminar, sharing their perspectives on the current security challenges facing Northern Europe. The Foreign Ministers reflected on the consequences of Russia’s full-scale invasion of Ukraine and how it has impacted Anglo-Swedish cooperation in the fields of foreign and security policy. They also addressed Sweden’s path to NATO membership, the support for Ukraine, ...

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Bank of England Raises Interest Rates The Bank of England (BoE) has increased interest rates to 5.0% following a widely unexpected 50bps raise. Andrew Bailey, the BoE governor, outlined his commitment to using monetary policy to reduce inflation and stated that “We’re not expecting, we’re not desiring a recession, but we will do what is necessary to bring inflation down to target”. This now represents the UK’s highest interest rate since ...

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Chancellor Commits To AI Jeremy Hunt, the chancellor, has pushed for ministers to seize the opportunities of artificial intelligence (AI). The objective is to save money, boost underperforming growth rates and reignite public services. The deputy at the Treasury is now undertaking a report (due before the Autumn Statement) on raising public service productivity with a special focus upon accelerating the implementation of AI. In the long-term, the chancellor believes that ...

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Ahead of the long-awaited summer holidays, we have asked Senior Associate Rebecca Farkhooy from our member and patron Eversheds Sutherland law firm to provide us with a few employment issues to keep on the radar as we step into the second half of the year. Hybrid working is here to stay – but many employers are requiring office attendance again. What are your legal rights and internal policies for this as ...

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Former PM Johnson Resigns On Friday (9th June) former PM Boris Johnson announced that he is standing down, with immediate effect, as an MP for Uxbridge and South Ruislip (in West London). In his resignation statement he stated that he remained “hugely proud of all that we achieved in my time in office as prime minister: getting Brexit done, winning the biggest majority for 40 years and delivering the fastest vaccine ...

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House Prices Fall UK house prices fell at their fastest annual pace for almost 14 years (since July 2009) in the year to May according to new research by Nationwide. The 3.4% fall comes as a result of mortgage rates continuing to rise as interest rates increase (currently at 4.5%). Nationwide stated that “headwinds to the housing market look set to strengthen in the near term” as a result of renewed ...

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Supermarket Price Caps The UK Government is at the “drawing board stage” of introducing a scheme that would aim to get retailers to charge the lowest possible amount for some basic products like bread and milk. This suggestion has been attributed to the resilient high levels of inflation for food and non-alcoholic drinks which remains above 10% (19.1% in data published in April). The supermarkets have attributed the increase in costs ...

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We are very pleased to introduce our new member, Scandinavian Trust. Scandinavian Trust offers Corporate Management and Secretarial services to local and foreign business owners. Their clients are international entrepreneurs and global businesses with local personnel, a branch or a holding company in Denmark, Finland, Norway and Sweden. Key services include domiciliation and directorships, along with accounting and payroll. They also provide many other services such as management of bank relations, liquidations, ...

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We are delighted to introduce our newest Patron, Fitch Ratings Fitch Rating is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence. Fitch Group is a global ...

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G7 in Japan The Hiroshima G7 summit marked continued support and cooperation between the members following rounds of meetings in Japan over the weekend. US President Biden confirmed on Friday (19th May) that the US will support a joint effort to train Ukrainian pilots for F-16 fighter jets. The G7 also took a united position on China with its strongest condemnation yet on the superpower in a joint communique. PM Sunak also ...

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