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 [...]
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 [...]
Sunak reveals new climate impact disclosure rules July 1, 2021 Chancellor Rishi Sunak has today announced plans to introduce new rules to force firms to reveal their impact on the climate. Speaking at Mansion House, Sunak announced that businesses across the economy will have to report on the impact they are having on the climate and environment. “We’re launching new requirements for businesses and financial [...]
Job losses could surge as furlough support reduces from today July 1, 2021 Job losses could surge as furlough support reduces from today
Sunak to set out vision for UK financial services as new green bonds unveiled July 1, 2021 Rishi Sunak will today lay out plans to make Britain the most “advanced and exciting” country for financial services in the world in his first ever Mansion House address. The speech comes after the Treasury revealed the first details of the government’s plan for the UK’s first ever green sovereign bond – or gilt – [...]
City of London ‘set for exemption from new global tax rules’ June 30, 2021 The City of London is set to win an exemption from new global proposals for taxing multinational companies in a boon for the Square Mile’s largest banks. The FT reported that Britain’s pitch for a carve-out for its financial services sector has been accepted in the ongoing talks at the OECD in Paris. But sources [...]
HMRC launches 13,000 investigations into potential Covid support scheme fraud June 28, 2021 The UK tax authority has opened almost 13,000 probes into businesses that may have abused the government’s coronavirus business support schemes. HM Revenue & Customs (HMRC) is investigating potential fraud and other non-compliance with the rules for the use of the government’s furlough programme, self employment income support scheme, and the “eat out to help [...]
Prince Philip to feature on commemorative £5 coin June 26, 2021 The Royal Mint has unveiled a special commemorative £5 coin to celebrate the life and legacy of the Duke of Edinburgh. The limited edition coin features an original new portrait that was approved by Prince Philip in 2008. The coin, which is being released as part of Armed Forces Day, is designed to commemorate the [...]