Deutsche Boerse boss rows back on landgrab, but German finance minister Olaf Scholz insists ‘large parts’ of euro clearing will leave London after Brexit August 30, 2018 The head of the Deutsche Boerse has appeared to row back on his immediate plans for a post-Brexit landgrab on London's euro clearing industry. Speaking on Thursday morning at a conference organised by German newspaper Handelsblatt, Theo Weimer put the odds of increasing his exchange's current market share of around eight per cent at just “50-50”, according to [...]
Former Ukip leader Nigel Farage mulls bid for London mayor 2020 August 30, 2018 Former Ukip leader Nigel Farage is mulling making a bid to become the next London mayor. The pro-Brexit politician, who has a slot on London radio station LBC five days a week, would go up against incumbent Sadiq Khan and one of the three Conservative candidates currently vying for the nomination. “I have been encouraged to [stand] [...]
Pound rises as Michel Barnier plans to offer UK an unprecedented third country deal August 29, 2018 The pound surged this afternoon after the EU's chief negotiator Michel Barnier appeared to offer a breakthrough on Brexit, telling reporters the UK would receive an unprecedented deal for a third country. Sterling climbed more than one per cent higher on the news, breaking the $1.30 mark for the first time in three weeks. Meanwhile the yield [...]
Theresa May’s deputy David Lidington tells Europe: Accept our Brexit deal or face no deal August 29, 2018 Theresa May's deputy David Lidington has warned Europe to accept the Prime Minister's Brexit plan or run the risk of no deal. In a speech to French business leaders this afternoon, Lidington, who effectively serves as May’s deputy alongside his role as Cabinet Office minister, warned it was too late to go back to the drawing board. [...]
October Brexit deadline dropped as negotiators eye November August 29, 2018 Senior officials in both London and Brussels have privately admitted that the October deadline for a deal on Brexit is now unlikely. Instead both sides are pinning their hopes on a November breakthrough to the deadlock that has plagued talks. It is thought an emergency European Council session is being earmarked for that month in order [...]
City blues: Meet the Tories hoping to take on Sadiq Khan in the 2020 race for City Hall August 27, 2018 The spectre of the 2016 mayoral campaign still hangs over the capital’s Tories. The crass, dog-whistle tactics deployed by Zac Goldsmith’s team failed to prevent Sadiq Khan receiving more votes than any of his predecessors, and left a bad taste in Londoners’ mouths that remains even now. The memory clearly weighs heavy on the three [...]
Hunt: EU must ‘get house in order’ to counter Russian threat to way of life August 21, 2018 Foreign secretary Jeremy Hunt is today set to call on the EU to “go further” when it comes to imposing sanctions against Russia, claiming that President Putin’s regime has “made the world a more dangerous place”. The secretary of state will note that allies must “get our own house in order” to meet new challenges posed [...]
City concerned at lack of EU no deal plans August 17, 2018 The City is growing frustrated with the EU’s apparent failure to grapple with the regulatory challenges posed by a no deal Brexit. Work in the UK has begun on a “temporary permissions regime”, allowing EU firms to continue passporting into the country in the event of a hard Brexit. But senior figures in the Square [...]
Pound sinks to 11-month low after Liam Fox’s no deal Brexit warning August 17, 2018 The pound has fallen to its lowest in 11 months this morning, following warnings over the weekend by international trade secretary Liam Fox that it was now more likely the UK would leave the EU without a deal. Sterling fell 0.3 per cent to $1.2954, its lowest since July 19, making it the biggest loser [...]
New Brexit secretary to love-bomb businesses at Chevening August 17, 2018 New Brexit secretary Dominic Raab will tomorrow urge businesses to get behind the government's Brexit white paper after a recent series of comments drove a wedge between industry and Number 10. Around 40 top business figures, including Juergen Maier from Siemens and BMW’s Frank Bachmann, responsible for hundreds of thousands of jobs across the UK [...]
