British regulators will give banks, asset managers, insurers and brokers until mid-2020 to fully comply with rules that replace European Union law in the event of a no-deal Brexit.

The Bank of England and Britain’s Financial Conduct Authority (FCA) on Thursday published a “near final” version of the rulebook that would come into effect if Britain leaves the EU without a transition deal.
Norway’s giant state investment fund has said it will increase its investment in the UK.

The sovereign wealth fund, which has $1tn (£750bn) to invest from Norway’s oil and gas income, is already one of the biggest investors in UK assets.


Rolls-Royce slumped to a £2.9bn loss as the cost of fixing faults with its troubled Trent 1000 aircraft engine ballooned to £790m and it was forced to book a series of one-off charges, including costs related to Airbus’s decision to stop making the A380 superjumbo.