• The Court of Session, overturning a lower court’s decision, has ruled that a Scottish court has to properly examine claims that the UK should be able to unilaterally abandon Brexit without permission from other EU member states. The group behind the legal challenge, which includes pro-EU Scottish lawmakers, has argued that UK government ministers and the European Commission are wrong to insist that the Article 50 process can only be abandoned if all the other 27 EU member states agree, as EU treaties make no mention of that condition. Once a full hearing has taken place in Edinburgh, a decision will be made as to whether the case should be referred to the CJEU. If not, petitioners can take their appeal to England’s Supreme Court. (The Guardian / Reuters)
  • Officials from the 27 EU member states agreed yesterday to mention financial services explicitly in an annex to the “guidelines” on negotiating future relations between Britain and the EU. The latest draft underlines that Britain’s future market access will depend on “equivalence” arrangements, through which the EU unilaterally grants market access to certain financial services from non-EU countries. While more encouraging for London, the reference falls short of Britain’s demand for an ambitious mutual recognition deal, which would guarantee market access and bilaterally manage any divergence in rules and standards. (The Financial Times)
  • Fishing industry leaders are dismayed by the transition deal announced yesterday, which committed the UK to observing EU quotas until the end of 2020, despite leaving the Common Fisheries Policy in March 2019 and no longer being represented at quota-setting summits. The government had pressed for the UK to be an equal partner in fishing negotiations during the 21-month “implementation period”, but the EU had blocked this. In 2021, the UK will be negotiating fishing opportunities as a third country. (The BBC)
  • A survey of more than 2,000 supply chain managers by the Chartered Institute of Procurement and Supply has shown that one in seven European companies with UK suppliers has moved part or all of their business out of Britain, with a third of UK suppliers found to have raised prices because of a weaker pound. Another 41 per cent plan future price rises to offset Brexit-related issues, such as diverging regulations and border costs. (The Financial Times)