EU opens up to US clearing houses in blow to City of London January 27, 2021 Brussels will allow US clearing houses operate throughout the EU in what could be a blow to the City of London’s largest clearing agencies. The European Commission announced today that it had decided that the US’ financial regulator’s rules was equivalent to the EU’s around clearing houses. This means the EU will now allow Wall [...]
Amazon halts alcohol sales in Northern Ireland following new Brexit customs rules January 27, 2021 Online retail giant Amazon has halted sales of wines, beers and spirits in Northern Ireland as it prepares to de-list more products under new Brexit customs rules. The company is concerned that excise duty will now have to be paid twice on alcohol shipments sent from British mainland across the Irish Sea. Amazon suspended orders [...]
City of London chief: Brexit impact ‘not at all catastrophic’ as Square Mile will thrive without EU access January 27, 2021 Brexit’s impact on London’s loss of financial business has not been catastrophic, the chief of the City of London Corporation said this morning. Catherine McGuinness, political leader of the Square Mile’s ruling body, insisted the City will thrive even if the European Union “irrationally” blocks access. London has endured business and job losses since the [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City A.M., the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
9 amazing watches that blew our minds this year December 31, 2020 While many companies have struggled in 2020, the watch industry has proven remarkably resiliant. It has also released some truly stunning pieces that would look at home on the wrist of any self-respecting horology nerd. Here are nine of the very best. Longines Heritage Classic – Tuxedo Longines has been a long-time favourite brand at [...]
Playing FTSE: How a global index was born in London November 30, 2020 It is now more than two decades since FTSE was founded – becoming common parlance not just in the City but across the business world. FTSE’s founder Mark Makepeace has teamed up with respected business journalist James Ashton to tell the story of the FTSE – and how it grew from nine people in an [...]
Labour’s Anneliese Dodds extends public olive branch to City of London November 17, 2020 Shadow chancellor Anneliese Dodds has today made overtures to the City of London, telling a virtual conference that Labour wants to work with the financial services sector and prevent it from “turning inwards…[and] eschewing responsibility”. Dodds, speaking at a virtual conference for the TheCityUK advocacy group, said Labour understood the value the sector has to [...]
City of London to be shut out of EU with no equivalence deal from January November 12, 2020 Brussels looks set to lock the City of London out of European markets from 1 January, with the EU not planning on granting regulatory equivalence for the whole bloc before the end of the Brexit transition period.
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.
City of London pledges to lure in small businesses and artists in plan to ‘reinvent itself’ October 20, 2020 The City of London Corporation has pledged to “reinvent itself” by encouraging small businesses and artists to “re-enter the city centre”, as the capital attempts to shake off the economic damage of the pandemic . In a five-year target to reinvigorate London, the City has drawn up plans to motivate small businesses and artists to [...]