This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United Kingdom Businesses Urge Government to Block EU Red Tape

By Danica Kirka

LONDON -- A group of banking chiefs, insurance bosses and entrepreneurs urged Prime Minister David Cameron on Sunday to safeguard British interests from European Union encroachment amid fears that the U.K.'s dwindling influence in Brussels could hit their industries hard.

The 54 leaders, who said they together employ some 1 million people, argued in a letter to the Sunday Times that red tape and plans in the EU to tax financial institutions "will continue to erode Britain's competitiveness in markets in which it has a unique global standing."

The letter comes amid a heated debate in Britain about its place in the 28-nation EU. The main political parties have been rattled by the rise of the euroskeptic U.K. Independence Party, which advocates pulling Britain out of the EU and stopping the unfettered right of EU citizens to enter Britain.

Anxious to take a stand, Cameron has actively sought to block former Luxembourg leader Jean-Claude Juncker from becoming the president of the European Commission -- the EU's executive arm. Britain opposes the veteran advocate of EU integration and is pushing for a vote should the council put Juncker forward.

Juncker is the candidate of conservatives who finished first in European Parliament elections, but Cameron has also cast him as epitomizing many of his objections with EU policies. German Chancellor Angela Merkel has said she might consider concessions to the British if they don't get their way on the presidency issue.

"We can't fulfill every wish, but that means that in other areas we can think about what is very important to Great Britain," she said last week after meeting with her Danish counterpart.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%
YHOO $30.96 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs