A minister in the Department of International Trade admits Britain is likely to lose financial passporting rights that give banks access to the European Union as a result of Brexit negotiations. Mark Garnier, Parliamentary Under Secretary of State at the Department for International Trade, made the admission in an interview with Bloomberg News. It is the clearest signal from a government minister that a key tenant of London's financial success could be destroyed by Brexit and is devastating news for banks. Prime Minister Theresa May's government appears to be moving towards a "hard Brexit," whereby Britain would ... (full story)