Post-Brexit reforms: Hunt aims to ‘turbocharge’ economy with biggest banking shake-up in 30 years December 9, 2022 Chancellor Jeremy Hunt has unveiled plans to “turbocharge growth” with the biggest shake-up in banking reforms for three decades. His so-called Edinburgh reforms announced this morning seek to “seize the benefits of Brexit” by cutting EU red tape for the financial sector. The new measures build on the government’s Mansion House 2021 package, with a [...]
Hunt to unveil post-Brexit Big Bang 2.0 for UK financial services industry December 8, 2022 Jeremy Hunt will finally unveil the government’s plans to shred EU financial services laws today as he proposes a package to boost the City’s global competitiveness post-Brexit. Hunt will deliver the landmark announcement in Edinburgh this morning, with the chancellor set to drop Solvency II capital requirements on insurance firms and ease current bank ring-fencing [...]
Big Bang 2.0? Smart post-Brexit reforms can put power in the country’s engine December 8, 2022 It may be a transparent nod to the geographical spread of the UK’s financial services industry, but the fact the Chancellor is delivering his thesis on the country’s post-Brexit regulatory regime north of the border is worth noting. The phrase Big Bang 2.0 has been ditched – it’s now the Edinburgh Reforms – but the [...]
Try as Sturgeon might, Scotland can’t overcome the problem of geography December 8, 2022 There is a saying in Mexico, “So far from God and so close to the United States”, to explain how its proximity to a richer and larger neighbour has stunted its development and bedevilled its politics. They would likely have short shrift then for the plight of Scotland, which once dreamed of conquering Panama, and [...]
Rachel Reeves: Macron is ‘eating UK’s lunch’ when it comes to global investment December 7, 2022 French President Emmanuel Macron is “eating the UK’s lunch” when it comes to attracting global investment, shadow chancellor Rachel Reeves has said. Reeves today told City A.M. that France was stealing investment away from British start-ups post-Brexit, with the shadow chancellor promising to help pension funds unleash billions of pounds of long-term capital into the [...]
Capital can’t be complacent about attracting new talent December 7, 2022 The perils of business journalism are many but one that is often under-remarked upon is the danger of drowning in data releases. Inboxes our end are full of new analyses, some of relatively questionable value, and it is sometimes hard to see the wood from the trees. Not so yesterday when the latest iteration of [...]
City law firms will be ‘key’ to driving UK’s economic growth December 7, 2022 The City’s top law firms will play an “integral” part in securing the country’s long-term growth, one of the the City’s most powerful lobby group has said. Britain’s law firms already play an integral role in ensuring London’s position as a “world leading financial centre” in acting as a “critical platform on which other economic [...]
Odey Asset Management taking sexual assault claims “extremely seriously” – reports December 6, 2022 Bosses at Odey Asset Management have reportedly said they are treating claims of sexual assault against founder Crispin Odey “extremely seriously”, after new claims were reported in the media this week.
Govt will not introduce airport-specific EU visas post-Brexit, says aviation minister December 6, 2022 In a bid to strengthen its UK workforce, the government will not introduce any specific visas for EU labourers to help airports with staffing levels. Aviation minister Baroness Vere told journalists it was up to everyone working in the sector to establish a “sustainable and secure UK workforce that meets our needs, [and] that is [...]
M&A slumps as UK dealmakers sit out rocky markets December 6, 2022 Mergers and acquisitions in the UK have slumped back to pre-pandemic levels this year as dealmakers play the waiting game amid wild swings on the markets, official figures have revealed. A total of 459 domestic and cross-border deals were completed in the third quarter of the year, nine down on the previous quarter and 159 [...]