London IPOs record best start in seven years July 2, 2021 Floatations and fundraisings in the City recorded their best start in seven years, according to figures published today. Total equity raised in London topped £27bn in the first six months of this year, driven by strong investor appetite for high-profile listings such as software firm Darktrace. 49 IPOs raised over £9bn in the first six months [...]
Post-Brexit rebound: London muscles out Amsterdam to reclaim trading top spot July 2, 2021 The City reclaimed its place at the top of Europe’s largest share trading centre rankings last month for the first time since Brexit, muscling out Amsterdam from top spot. £7.6bn (€8.9bn) of shares a day were traded on average at London venues in June, compared to £7.6bn (€8.8bn) for various Dutch venues, new data published [...]
OECD: Ireland snubs global tax deal July 2, 2021 Ireland refused to sign a major agreement to overhaul the global corporation tax regime on Thursday. 130 countries and jurisdictions agreed to the deal brokered by the Organisation for Economic Cooperation and Development, which paves the way for sweeping international changes. The new regime will see a global tax for 100 of the world’s largest [...]
Former competition chief urges government to speed up CMA overhaul July 2, 2021 The former chairman of the UK’s competition watchdog has called on the government to speed up an overhaul of the organisation. Lord Andrew Tyrie, who chaired the Competition and Markets Authority from 2018 to 2020, warned that the organisation’s effectiveness will be eroded unless it is urgently reformed, in a report published today. Speaking to [...]
Angela Merkel to address Johnson’s cabinet in final UK trip as German chancellor July 1, 2021 Angela Merkel will become the first foreign leader in 24 years to address a British cabinet tomorrow in her last trip to the UK as German chancellor. Merkel and Boris Johnson will also agree to set up an annual meeting between the UK and German cabinets – the first arrangement of its kind for the [...]
Brazil is the most complex country to do business, Denmark the easiest July 1, 2021 Brazil ranked first in the list of the most complex jurisdictions to do business in 2021, according to the eighth Global Business Complexity Annual Report Index (GBCI). The bureaucracy involved while incorporating a business and dealing with different tax rates in cities and states puts Brazil on top of the most complex place for business. [...]
What are the UK-EU ‘sausage wars’ in Northern Ireland and are they over? July 1, 2021 Yesterday’s confirmation that Brussels and London have agreed a truce to the so-called sausage wars has, at least momentarily, eased UK-EU tensions about the implementation of the Northern Ireland Protocol. The EU agreed to delay the ban on Great British sausages being sent to Northern Ireland until the end of September, after threats from Boris [...]
FTSE 100 climbs as Sunak outlines post-Brexit financial services roadmap July 1, 2021 London’s FTSE 100 surged this afternoon as investors digested the Chancellor’s post-Brexit roadmap for the UK’s financial service industry. The capital’s premier index climbed 1.25 per cent in afternoon trading to reach 7,125. The rally came after Chancellor Rishi Sunak outlined plans to make the UK financial services industry more competitive on the global stage. [...]
Brexit: UK and EU still no closer to financial services deal July 1, 2021 The Chancellor today confirmed that the UK and EU have still not reached a post-Brexit financial services agreement. Speaking at Mansion House, Rishi Sunak said “our ambition had been to reach a comprehensive set of mutual decisions on financial services equivalence. That has not happened.” Sunak confirmed that the UK and EU have failed to [...]
Home Office to allow late EU Settlement Scheme applications after website crashes July 1, 2021 Home Office to allow late EU Settlement Scheme applications after website crashes