David Davis has rejected the EU’s timetable for Brexit talks, saying that the UK would be disadvantaged by an early agreement regarding its financial obligations and the future status of the Northern Irish border. The EU has earmarked three issues that it says will require an early agreement in the Brexit negotiations: the rights of EU nationals living in the UK; the UK’s “exit” payment to the EU; and the Northern Irish border. The UK would only look for an early agreement on migrants’ rights by “early autumn”, but would otherwise argue that nothing was agreed until everything was agreed, he said. (FT)

A survey of more than 2,000 supply chain managers by the Chartered Institute of Procurement & Supply (CIPS) found 46 per cent of European managers working with UK suppliers are now seeking local suppliers because of Brexit. Just under a third (32 per cent) of UK businesses who work with suppliers on the Continent are actively looking for alternative suppliers based in the UK. Almost two thirds of UK businesses said they have seen their supply chains become more expensive as a result of the weaker pound, with 29 per cent re-negotiating some contracts as a result. (Independent)

The European Investment Bank is to make it tougher for large British infrastructure projects and City of London investors to access its multimillion-pound loans in light of the continuing uncertainty caused by Brexit. The bank’s board has concluded that extra checks on applications from UK projects are necessary from now on given the “unprecedented situation”. Sources close to the bank, whose shareholders are the 28 EU member states, said its management would be seeking assurances on a range of issues when UK-based applications are received, including on whether projects will retain the high level of environmental regulations currently enforced by EU law. (The Guardian)

US bank JP Morgan is buying a landmark office building in Dublin in a significant boost for the Irish capital following the Brexit vote. The new premises will be able to house 1,000 staff – double the number of personnel the US bank currently employs in Dublin. The move is regarded as the first major expansion in Ireland by a financial services firm since the UK’s referendum. (The Guardian)