Ex-FCA chief Woolard nabs leadership role at EY February 11, 2021 Chris Woolard, the former interim chief executive at city regulator the Financial Conduct Authority (FCA), has nabbed a leadership role at EY. Woolard will join the Big Four firm in April to lead its EMEIA financial services regulatory capabilities, and chair the EY Global Financial Services Regulatory Network. He will replace John Liver, who currently [...]
Brexit crowns Amsterdam Europe’s top trading hub, ousting The City February 11, 2021 Amsterdam surpassed London as Europe’s largest share trading centre last month, as Brexit led London to lose business. Some €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE and Turquoise, the London Stock Exchange’s platform, last month – a more than fourfold increase from December, the Financial Times reported. [...]
Ted Baker races to improve ecommerce offering as online sales disappoint February 11, 2021 Fashion retailer Ted Baker said it is racing to improve its digital shopping platform as it reported disappointing online sales in the fourth quarter, which were unable to offset the impact of store closures on revenue. The firm also revealed that it will take a £5m Brexit-related hit in its full-year results, reflecting extra duty [...]
Before the Bell: Quiet start expected for Europe, dealers eye US jobs data February 11, 2021 Stock markets in Europe posted modest losses yesterday as a drop off in confidence towards the end of the session more than wiped out the gains that were registered earlier. For most of the day, equity benchmarks were in positive territory, upbeat sentiment circulated as it was believed the Biden administration will sign off on [...]
City’s professional know-how matched with UK construction expertise could be a global titan February 11, 2021 Despite political enthusiasm for ‘Global Britain’, we are missing out on a sizeable slice of a $14 trillion a year worldwide construction market owing to a lack of collaboration between two otherwise successful industries – the built environment sector and financial/advisory services. The built environment and infrastructure sector is one of the unsung heroes of [...]
Why have almost half EU countries restricted use of the Astrazeneca vaccine? February 10, 2021 The World Health Organization (WHO) this afternoon recommended the rollout of Astrazeneca’s Covid vaccine for use in all age groups, after a slew of European countries slapped limitations on the jab’s distribution. WHO officials said a “preponderance of evidence weighed in favour of not constraining the vaccine for certain age groups”, and refused to recommend [...]
BoE’s Bailey: EU demanding more of London than other partners February 10, 2021 The Bank of England Governor has hit out at the EU for expecting more of London than its other partners when it comes to a post-Brexit financial services agreement. In his Mansion House speech, Andrew Bailey said Brussels’ demands were far higher than when the bloc negotiated with Canada, the US, Australia and others. “The [...]
Sadiq Khan seeks permission to appeal ‘unlawful’ Streetspace ruling February 10, 2021 Sadiq Khan has today submitted an application to appeal against a High Court ruling that deemed his “Streetspace” plan illegal. Last month the court ruled that Khan had “taken advantage” of the pandemic to push through “radical changes” to London’s streets. Justice Lang said that the plan, which banned taxis from using bus lanes in [...]
Exclusive: Brexit hit to London may top £9.5bn a year without EU financial services deal February 10, 2021 As the heart of the UK's service sector economy, London is in line to lose up to £9.9bn a year if a post-Brexit deal on financial services doesn't protect the City, new research out this morning finds.
Brexit: Restoration of common law principles gives financial services the tools to be innovative February 10, 2021 Now that the UK has left the EU, it is time that we re-set the legal framework of our financial services. This is not the emotional reaction of a Brexit optimist – although I do believe that there are many advantages to our leaving the European Union – but rather a pragmatic assessment based on [...]