- Title: 'We're Brexit-ready', says Lloyd's CEO John Neal
- Date: 11th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 11, 2019) (REUTERS) (SOUNDBITE) (English) LLOYD'S OF LONDON, CEO, JOHN NEAL, SAYING: "I'm a great advocate of free trade. You know, I think you've got to have a structure, within which trade can take place. It can't just be without border. But I'd rather that, as the U.K. and the U.S. is doing, you work out what is a trade agreement, and you keep that as broad and as open as you can. So, I would prefer that rather than tariffs. Tariffs feel like a punishment rather than opportunity. So, I'm a great advocate of opportunity, not punishment."
- Embargoed: 25th October 2019 19:41
- Keywords: tariffs economy Brexit Donal Trump John Neal reinsurance Lloyd's of London interest rates insurance Boris Johnson Federal Reserve Jerome Powell
- Location: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- City: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA009B0NMQ31
- Aspect Ratio: 16:9
- Story Text: Lloyd's is Brexit-ready, said the insurance and reinsurance market's CEO John Neal in an interview with Reuters on Friday (October 11).
Neal also said the global economy is at a tipping point, with not much certainty, which is not good for business.
"The perfect economy has a bit of interest rate and a bit of inflation, because everyone does a little bit better in that world," Neal said. "Wages go up, more products are developed, and more products are sold."
Neal also said he is a great advocate of free trade, when asked about tariffs.
The conversation took place just as London-listed companies with exposure to the domestic economy soared for their best day in nearly a decade on hopes that Britain can seal a Brexit deal.
The European Union agreed to enter intense talks with the UK, signaling that an agreement could be done before the Halloween deadline.
(Production: Andrew Hofstetter & Aleksandra Michalska) - Copyright Holder: REUTERS
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