Europe breathed a sigh of relief earlier this week when Emmanuel Macron won the French Presidential election, beating the far right candidate Marine Le Pen by a comfortable majority of 66 percent to 34 percent. Now the hard work begins as the country is still under a state of emergency, struggling with a stagnant economy,… Read More >>
LSEG-Deutsche Börse Breakup Paves the Way for Other Suitors
The marriage of the London Stock Exchange Group (LSEG) and the Deutsche Börse was always on shaky ground despite the participants hoping that this time they would be able to finally walk down the aisle after two failed attempts. However, this was not to be and the European Union competition regulators broke up the union…. Read More >>
E.U. Kills LSE-Deutsche Börse Merger
On the same day that Brexit launched, the London Stock Exchange Group (LSEG) and Deutsche Börse have definitively called it quits after the European Commission prohibited the proposed merger, citing the potential of a monopoly in the markets for clearing fixed income instruments. The E.C. investigation “concluded the merger would have created a de facto… 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 >>
What’s on Your List of Silver Linings?
Perhaps the only consensus that we can reach is that 2016 has been a very challenging year on every front from global and presidential politics to an ongoing death march by beloved celebrities. To a large extent, elections and celebrity deaths have been set in stone by demographics, a little luck, personal choices and maybe… Read More >>
BofE’s Carney Will Stay to Help with Brexit
The British Pound Sterling barely moved on the news that that Governor of the Bank of England (BoE) Mark Carney has decided not to stay for his full eight-year term, but will weather the Brexit storm. The currency is not only mired in the repeated attacks on the central bank’s independence and competency but also… 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 >>
Pending LSE-Deutsche Börse Union Faces Antitrust Pushback
Shareholders may have given their seal of approval but the fate of the Deutsche Börse and London Stock Exchange Group’s £21 billion ($27.7 billion) merger is now in the hands of roughly 40 regulatory bodies around the world. While a handful including the U.S. and Russian authorities have given the union the green light, getting… 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 >>
