Although the U.K. hopes to retain as many financial services activities as possible in the wake of Brexit, big banks are making contingency plans and could shift at least 9,000 jobs out of the country, according to a tally collated from Reuters. To date, 13 major banks including Goldman Sachs, UBS, JPMorgan, Deutsche Bank and… Read More >>
U.K. Election to Write Brexit’s Next Chapter
It has been almost a year since the British voted on the European Union referendum and very few thought they would be heading back to the polling stations so soon. However, in a surprise move, U.K. Prime Minister Theresa May last week called a snap election for June 8 that is likely to clarify the… Read More >>
U.K. Prime Minister Outlines Terms of ‘Hard-Brexit’
It is ironic that Theresa May outlined her blueprint for taking the U.K. out of the European Union single market in the same Lancaster Hall that the last female U.K. prime minister and fellow Tory — Margaret Thatcher — extolled the virtues of the single market in 1988. Now the country is heading toward a… Read More >>
‘Hard Brexit’ Fears Put Pound on a Roller Coaster Ride
For the past week, it certainly has been a roller coaster ride for the British pound. The U.K.’s currency plummeted to new depths last Friday, Oct. 7, only to rally on Wednesday, Oct. 12, as U.K. Prime Minister Theresa May promised there would be a “full and transparent” parliamentary debate before the government triggers Article… Read More >>
U.K. May Delay Brexit Until 2019
It may only be two months since the U.K. invoked the historic vote to leave the European Union but now it seems like an eternity. At this rate, it could literally be years before U.K. Prime Minister Theresa May triggers Article 50 and gets the ball rolling. However, this will only infuriate the Brexiteers and… Read More >>
Brexit Threatens London’s Role as Financial Hub
One of the big unknowns in the post-Brexit world is the fate of London as a global financial hub. While some market participants will put on a brave face, arguing that the City’s infrastructure and skill sets are hard to replicate, recent studies argue that the dreaded exodus could happen if negotiations do not go… Read More >>
Brexit Storm Rains On LSE, Deutsche Börse Merger
London Stock Exchange (LSE) shareholders may have given their approval to the planned £20 billion ($30 billion) merger with Germany’s Deutsche Börse but there is no guarantee that their relationship will weather the post-Brexit storm and this could pave the way for another suitor. In a joint statement after the Brexit vote, LSE and Deutsche… Read More >>
Brexit Would Breed Chaos for London Firms: Report
With the European Union Referendum just over a month away on June 23, the arguments are flying fast and furious on both sides. For the undecided it is difficult to decipher the rhetoric but there is no doubt that leaving will plunge the country and the region into the world of the unknown and potentially… Read More >>
