AI view: Asian firms must make Brexit contingency plans

Having gained parliamentary approval, Prime Minister Theresa May now looks set to initiate a so-called hard Brexit in March, meaning the UK will likely lose access to the single European market. European Union (EU) rules give her two years to conclude a deal. The wolves are already circling London’s financial services industry. Germany’s financial regulator met over 20 foreign banks at the end of January to market Frankfurt as an alternative base to London. A delegation from acros…