Britain ‘close’ to striking vaccine deal with EU amid supply row March 27, 2021 Britain is said to be close to striking a vaccine deal with the EU that will remove the threat of the bloc cutting off supplies of the jabs. After a week of tense diplomacy the two sides are expected to ink an agreement as early as this weekend under which the EU will remove its [...]
Brexit: EU expects Northern Ireland plan from UK in the ‘coming days’ March 26, 2021 The European Union is expecting the UK to set out a road map detailing how it plans to fully implement the post-Brexit agreement on Northern Ireland in the “coming days”. Both sides said talks between officials on the Northern Ireland Protocol took place in a “constructive atmosphere” today after a period of high tensions. The [...]
UK and EU strike cooperation deal on financial services March 26, 2021 The UK and EU have agreed the terms for future cooperation on financial services between the two jurisdictions. “Formal steps need to be undertaken on both sides before the Memorandum of Understanding (MoU) can be signed but it is expected that this can be done expeditiously,” The Treasury said in a statement. “The MoU, once [...]
Lloyd’s of London may ditch strict dress code after 335 years March 26, 2021 Lloyd’s of London could ditch its strict dress code policy for the first time in its 335-year history, with some brokers calling for the “stuffy” attire to be scrapped. Lloyd’s staff who work in one of the City of London’s most iconic buildings are expected to abide by a strict dress code. Men are expected [...]
BoE urges banks to keep lending as government schemes come to an end March 26, 2021 The Bank of England has urged banks to continue lending through the recovery as the government starts to wind down its coronavirus loan schemes. While the vaccine rollout has boosted confidence the Financial Policy Committee (FPC), which looks at the risks facing the system, has warned SMEs will need to finance cash-flow deficits this year [...]
Screenshot: Will workers’ rights put a puncture in Deliveroo’s IPO? March 26, 2021 This week **Media Moment of the Week: Farewell to the real McCoy **Will workers’ rights put a puncture in Deliveroo’s IPO? **A watchdog bares its teeth Media Moment of the Week: Farewell to the real McCoy In a shock bit of transfer news this week, BBC presenter Simon McCoy announced he was leaving the Beeb [...]
Covid-19, a year on: the need for a more diverse UK economy March 26, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. The UK’s economy was hit by a 10 per cent drop in GDP [...]
Criminal case against NatWest tip of £90bn iceberg in ‘money laundering capital of the world’ March 26, 2021 Yesterday it was reported that the recent money laundering charges against NatWest are linked to a separate case against 13 individuals based in cities around the UK. The latest revelations followed the shock announcement, last week, that the Financial Conduct Authority had lodged criminal proceedings against NatWest for money laundering offences. The watchdog – accusing NatWest of [...]
UK knows EU will not grant the City access to financial services: Lord Hill March 26, 2021 There is a growing realisation that the UK should not wait for the EU to give the UK access for financial services but get on with building a more competitive, outward-looking City of London, according to Jonathan Hill. Lord Hill, a former EU Commissioner for financial services who recently authored a report on easing the [...]
Post-Brexit City must be freed from European-style over regulation March 26, 2021 It has always been perceived wisdom that it was greedy bankers to blame for the financial collapse of 2008/9. The truth, however, is very different. Looking back, years of Establishment “too big to fail” support for uneconomic banking and financial institutions which began in the 1970s and culminated in the Greenspan intervention to save markets [...]