FT News Briefing A big step for Brexit
4 snips
Feb 28, 2023 Shell's executives contemplate a dramatic move to the U.S., which could reshape their competitive edge against rivals. A new agreement between Britain and the EU aims to resolve trading issues over Northern Ireland, but it's not without its challenges. The conversation also touches on the predictable cycles of interest rates and the market's responses, delving into the complexities investors face amidst the Federal Reserve's inflation strategies. It's a fascinating look at the intersection of geopolitics and finance.
AI Snips
Chapters
Transcript
Episode notes
Legal Pressure and Shell's Decision
- Shell's potential move to the US was partly influenced by a Dutch court case.
- This case required Shell to accelerate its emissions reduction plan, highlighting differing legal landscapes.
Shell's Potential US Move
- In 2021, Shell considered moving its headquarters from London to the US.
- This was driven by higher valuations of US energy giants like Exxon and Chevron, access to US capital, and a potentially more favorable legal environment regarding emissions.
UK-EU Trade Deal
- The UK and EU reached a new trade deal for Northern Ireland, addressing Brexit friction.
- The deal creates a "green lane" system for goods staying in Northern Ireland and a "red lane" for those moving into the EU.