Don't Squander Latest Brexit Delay, City Tells Politicians

Law360, London (April 11, 2019, 10:49 AM BST) -- The City of London expressed relief on Thursday that Britain had avoided a “catastrophic no-deal Brexit” before the Friday deadline, but warned that prolonged uncertainty is discouraging finance companies from making decisions on expansion and investment.

European Union leaders agreed in the early hours of Thursday to push back the date for Britain's departure for more than six months, including an option to leave earlier if Theresa May can secure parliamentary backing for her unpopular Brexit plan. The City of London Corp., which manages the U.K.’s financial center, responded that politicians should not use the extension to Oct. 31 to “continue...

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