Brexit: UK and EU clash on share trading rules November 4, 2020 Square Mile banks and asset managers can use exchanges from the European Union to trade shares from January, creating a cross-border clash in securities rules for investors.
Box-fresh? Sandboxes go global November 4, 2020 What image does the word ‘sandbox’ conjure up for you? For most people, the answer is likely to be kindergartens, buckets and sandcastles. But for financial services innovators, sandboxes have a different meaning – and, for some projects, pivotal importance. For organisations looking to launch a product that needs a regulatory licence, a sandbox is [...]
Crispin Odey steps down from asset management firm November 4, 2020 Crispin Odey has stepped down from the helm of his London-based hedge fund firm in order to focus on managing his own funds, the company said last night. Odey, one of the UK’s best-known hedge fund managers and political donors, will step down from the role of co-chief executive after almost three decades at the [...]
Four things to watch as the Bank of England sets interest rates November 4, 2020 The Bank of England’s group of interest rate-setters will announce their latest monetary policy decision tomorrow, albeit virtually. Since the last meeting in September, the government has announced a new month-long lockdown for England amid soaring coronavirus cases. Most analysts expect the Bank to launch more stimulus to support the economy during the winter. Here [...]
Fish Scupper: EU and EU fail to bridge gaps on fisheries November 3, 2020 The UK and European Union have so far failed to reach agreements on the three most contentious issues in their ongoing trade talks, both sides said. The pair have not been able to reach agreements on fisheries, the so-called level playing field, and settling future disputes between Britain and the EU. Read more: CBI deputy: [...]
Realistic to end new England lockdown in December, says Chris Whitty November 3, 2020 The forthcoming national lockdown in England is designed to reduce Covid-19 transmission rates to the extent that it can end as scheduled on 2 December, chief medical officer Chris Witty said. Speaking to MPs, Whitty said the new lockdown, which is due to come into force on Thursday, could reduce the reproduction (R) number for [...]
Frankfurt boosts euro clearing incentives for banks, escalating battle with London November 3, 2020 Deutsche Boerse is increasing the incentives for banks to shift clearing of euro-denominated derivatives from London to Frankfurt, escalating a battle between the financial hubs sparked by Brexit. The exchange will strengthen Eurex Clearing’s incentive programme, designed to encourage banks to move swaps from The London Stock Exchange’s LCH unit to Frankfurt, and extend the [...]
Trump or Biden: Who would be better for the UK? November 3, 2020 Trump or Biden: Who would be better for the UK? JOIN THE DEBATE Sarah Elliott, chair of Republicans Overseas UK, says TRUMP When I turn the radio tomorrow morning, I hope that the BBC will announce a victory for President Donald J. Trump — and not just for America, but for the sake of the [...]
‘Layers of uncertainty’: The City braces for a US election unlike any other November 3, 2020 It’s been a long year for markets, but today’s US presidential election could be the longest day yet – not least because the results may not be clear for days or even weeks. Democrat challenger Joe Biden is well ahead in the polls. Yet memories of 2016, when Donald Trump came from behind to take [...]
After four years, Trump has yet to master the art of the diplomatic deal November 3, 2020 “We can’t continue to allow China to rape our country,” Donald Trump urged crowds at a campaign rally in Indiana, months before his surprise 2016 election victory. As America once more heads to the polls today, the rest of the world can only stand by and watch. And while Joe Biden appears to be leading, [...]