Please see below for today’s update on key Brexit news items:

  • Global banks have begun planning to move around 9,000 jobs to the continent in the next two years. Thirteen major banks, including Goldman Sachs, UBS and Citigroup, have now indicated they would bulk up their operations in Europe to secure market access to the EU after Brexit, although the exact number of jobs to be moved will depend on the outcome of the deal the British government strikes with the EU. (Independent)
  • A key adviser to Emmanuel Macron, the incoming French president, has warned that the UK can expect him to be tough on Brexit. Jean Pisani-Ferry has said that, while the president-elect will not look to punish the UK for leaving the EU, he will be a tough negotiator who will focus on strengthening the Eurozone. (The Guardian)
  • The chairman of UBS, Axel Weber, has warned of volatility that could impact on the global economy if the UK leaves the customs union and single market. Mr Weber also said that Europe is not yet “out of the woods” after the election of Emmanuel Macron, noting the risk of gains by the far-right in Italy and Greece. (Independent)
  • Conservative ministers have attacked the conduct of the European Commission in the lead up to the UK’s general election. The Health Secretary Jeremy Hunt suggested that the Commission has deliberately interfered in the general election to boost Labour’s electoral prospects; while Home Secretary Amber Rudd has condemned the Commission’s “aggressive tactics”. (The Guardian)