Article 50 case is an attempt to invalidate Leave decision, Attorney General tells court October 17, 2016 The Attorney General has today told a court legal challenges over Brexit brought by businesswoman Gina Miller are nothing more than an attempt to overturn the referendum outcome. Speaking in the Royal Courts of Justice as one of the government's lawyers today, Jeremy Wright QC MP said: "This is not, we submit, a narrow legal challenge…in reality, it seeks [...]
City must choose which access rights are most important ahead of Brexit talks October 17, 2016 The City must choose which rights its financial services sector actually needs, and which are just nice to have, before it gets to the Brexit negotiating table. The report by Open Europe stresses that the passporting regime does not consist of one set of rights and those involved in the Brexit talks should therefore focus on [...]
Stress and the city: Bankers feel the pressure but fear admitting it to bosses October 17, 2016 Rising stress levels among investment bankers have led two thirds to consider quitting their jobs, according to new research seen exclusively by City A.M. However, despite the admission senior banking employees believe that talking about their stress or mental health issues in the workplace will damage their careers. According to the MetLife research, 40 per cent [...]
This would-be bank has taken a key step towards getting its licence October 16, 2016 Acorn Financial Partners has today applied for a banking licence from the regulators. The challenger bank in the making, which will initially focus its efforts on small businesses in Hertfordshire, Bedfordshire and Buckinghamshire, will be called Redwood Bank once it is authorised. Acorn is hopeful the banking licence will be granted by the Financial Conduct Authority and the Prudential Regulation Authority in [...]
Attorney General set to speak in Article 50 case tomorrow October 16, 2016 Attorney General Jeremy Wright QC is due to lay out the government's argument in the Article 50 case tomorrow. The case, which started in the High Court last Thursday, has been brought to decide whether an Act of Parliament needs to be in place before government triggers Article 50. However, lawyers for government are expected [...]
Get ready for round two of US bank earnings, with Goldman Sachs, Morgan Stanley and Bank of America reporting this week October 16, 2016 Wall Street investors are likely eyeing this week with trepidation, as a slew of US financial giants gear up to release quarterly earnings. Bank of America will kick off the week, releasing third quarter earnings on Monday. Goldman Sachs will report on Tuesday, Morgan Stanley on Wednesday and Bank of New York Mellon on Thursday. Bank [...]
MPs criticise Article 50 case as a “diversionary tactic” after its first day in court October 13, 2016 Eurosceptic politicians have criticised a lawsuit arguing the legal process for leaving the EU for pulling away from the real issues of the debate just as the case kicked off in court. The case, which aims to determine whether an Act of Parliament needs to be put in place before government triggers Article 50 or whether government has the [...]
London Whale identification case heard in Supreme Court October 13, 2016 The City watchdog has faced off against a former JP Morgan executive in the UK's highest court today, looking to overturn a decision that it wrongly allowed him to be identified when reprimanding the bank over the London Whale scandal. Achilles Macris, who was responsible for a number of portfolios at the bank when its London [...]
