Inside the Luxembourg bid to lure City firms after Brexit: How the Grand Duchy lines up against Frankfurt, Paris, Dublin and other rivals April 3, 2017 Alongside large and threatening Frankfurt, loud and opportunistic Paris and plucky Dublin, Luxembourg has kept a relatively low profile in the scramble to soak up some of London’s financial services power since the UK’s Brexit vote. But make no mistake, Luxembourg will be growing as a result of the UK’s decision. The city’s business area [...]
Millicent Fawcett will be the first ever statue of a woman in Parliament Square April 2, 2017 Equality will come to Parliament Square as the first ever statue of a woman to be displayed at the heart of the UK’s political power has been announced. Dame Millicent Fawcett, one of many women who led the fight for women to have the vote, will be honoured after a high-profile campaign supported by Harry [...]
Government sells Bradford & Bingley loans for £11.8bn to Prudential and Blackstone after a “highly competitive sale process” | City A.M. March 31, 2017 The government has sold £11.8bn of Bradford & Bingley loans to insurance giant Prudential and US private equity behemoth Blackstone. The loans were bought by the UK taxpayer during the financial crisis and have been managed by the UK Asset Resolution (UKAR) on their behalf. Prudential and Blackstone prevailed in what the Treasury called a [...]
Lloyd’s of London EU move shows the UK must win the battle for parallel Brexit talks March 31, 2017 Lloyd’s of London chairman John Nelson said last year the iconic insurance market would have to move part of its business out of the UK if it was not given guarantees about access to European markets. Those guarantees could not be made, so a move has now been confirmed. It’s important to note that the [...]
Google, Facebook, Twitter, Microsoft respond to Amber Rudd: Tech firms’ letter in full March 30, 2017 The tech giants that met home secretary Amber Rudd today for a meeting discussing how to tackle extremist content online have promised to work closely with the government. They have agreed to set up an industry board to tackle removing terrorist content online, but notably amiss from their comments in the wake of the meeting [...]
WhatsApp messages landed an investment banker a £37k fine from the FCA for sharing confidential client information March 30, 2017 A former investment banker has been fined by the City watchdog for sharing messages on WhatsApp which contained confidential client information. Christopher Niehaus, an ex-managing director at Jefferies, has been handed a £37,000 fine by the Financial Conduct Authority which said he wanted “to impress the people that he shared the information with”. Read more: [...]
Lloyd’s of London wants to be at the “heart of Europe” with its new EU base March 30, 2017 Lloyd’s of London is planning to attract new EU customers by placing itself at the “heart of Europe”, the corporation’s chairman said this morning. In the wake of the UK triggering Article 50 yesterday, the iconic insurance market this morning revealed it will set up an EU base in Brussels, with new business set to [...]
CMC Markets share price drops as spreadbetter reports it has grown customers despite taking a knock over FCA rules March 30, 2017 Spreadbetting firm CMC Markets today reported that it has grown customer numbers in the year to 1 April, despite a planned shake-up of the rules around its products which hit the company hard at the end of 2016. Shares in CMC plunged by more than a third in December when it was revealed the City [...]
MPs welcome regulator proposals to make banks spot fraudulent contactless payments March 30, 2017 Financial regulators are planning to shift the onus onto banks to identify fraudulent contactless payment transactions. The Financial Conduct Authority (FCA) chairman John Griffith-Jones will today set out the watchdog’s proposals in a letter to the chair of the Treasury Select Committee Andrew Tyrie. In September an investigation by a consumer organisation highlighted some banks [...]
Supreme Court president Lord Neuberger says judges will keep listening to European Court of Justice decisions post-Brexit March 29, 2017 The president of the Supreme Court today said he and his peers will likely carry on listening to the European Court of Justice’s decisions following Brexit. Lord Neuberger told the House of Lords Constitution Committee: “It would be quite inappropriate for us to be bound in any way by decisions of the Court of Justice [...]