Pan-European trade body to scrutinise Brexit impact for EU, as the UK prepares for life outside the Single Market January 19, 2017 A leading trade body for Europe's financial markets has launched a study into what fallout the EU can expect from the UK leaving the Single Market. Prime Minister Theresa May laid out her vision for a post-Brexit Britain in a hotly-anticipated speech on Tuesday, including, as many had suspected, plans to leave the Single Market. [...]
Philip Hammond warns Europe the UK will “find ways” to compete without a trade deal January 19, 2017 Chancellor Philip Hammond reiterated his warnings that the UK will “find ways” to compete if it is unable to secure a “comprehensive trading relationship” after Brexit. Hammond stressed that while the UK did not want to cut taxes to remain competitive, the decision was "not entirely in our gift". “We have to remain competitive. The best way [...]
Barclays boss: London will continue to be the “financial lungs” of Europe post-Brexit January 19, 2017 The boss of one of the UK's biggest banks has today come out fighting for the City's post-Brexit status, likening London to an essential organ for the continent's financial health. "I don't believe that the European finances system, our centre, will leave the City of London," Jes Staley, chief executive of Barclays told the BBC in [...]
Goldman Sachs is considering halving its London workforce January 19, 2017 Goldman Sachs is considering cutting the number of staff in London to 3,000 after Brexit, it has been reported – effectively halving its workforce in the UK. German newspaper Handelsblatt reported that the US banking giant is mulling moving 1,000 jobs to Frankfurt as part of the plans, while other key operations would move to New [...]
Lloyds Banking Group takes the top spot on Stonewall’s top 100 LGBT employers as banking and legal dominate the list January 19, 2017 Lloyds Banking Group has taken the top spot of Stonewall's top 100 LGBT employers list. Banking and legal dominated the list of the charity's most inclusive employers. Lloyds, which came second to MI5 last year, launched a new colleague volunteering programme and formed official partnership with lesbian, gay, bi and trans (LGBT) charities. Law firm [...]
Top bankers from Goldman Sachs and JP Morgan touch down in Davos for Brexit showdown with Prime Minister Theresa May January 19, 2017 Prime Minister Theresa May has jetted out to Davos for crunch talks with top bankers following a landmark speech this week in which she set out her vision for Brexit. May will meet chief executives from banks such as Goldman Sachs and JP Morgan a day after two other bosses – HSBC’s Stuart Gulliver and UBS [...]
Hochschild Mining surpasses expectations to produce record results January 18, 2017 Hochschild Mining hit record production, beating targets in its 2016 year-end production report. The figures The British-based mining company said it produced 17.3m ounces of silver and 246,100 ounces of gold. It produced 35.5m silver equivalent ounces, up 31 per cent on 2015, and 479,600 gold equivalent ounces, up from 365,400 ounces. Its flagship low-cost Inmaculada mine had a strong first [...]
This fintech startup is crowdfunding fresh investment January 16, 2017 A fintech startup whose app helps people better manage their money is seeking fresh funding via crowdfunding. Squirrel is seeking to raise £400,000 on equity crowdfunding platform SyndicateRoom, with £100,000 of that already promised by angel investor Jos Evans. The two-year-old startup offers users a bank account and budgeting features and already has more than [...]
City Moves for 16 January 2017 | Who’s switching jobs January 16, 2017 Mitsubishi UFJ Financial Group Mitsubishi UFJ Financial Group has appointed Nauman Ansari as an executive director of the bank’s healthcare finance business in EMEA. Nauman, who joins from Morgan Stanley, brings a wealth of healthcare and leveraged and acquisition finance experience to MUFG. He played a significant role in a number of transformative transactions for Shire on [...]
Davos gathering looks to address Trump and Brexit January 15, 2017 Prime minister Theresa May, Chinese president Xi Jinping, US vice president Joe Biden and US secretary of state John Kerry will be among the 3,000 businessmen, politicians and celebrities at the annual World Economic Forum this week. This year, the organisers of the four day event in Switzerland have chosen “responsive and responsible leadership” as the theme [...]