March 20, 2018
The European Union will consider offering the U.K. “improved equivalence” for financial services after Brexit, according to the bloc’s latest negotiating guidelines, a system Britain has rejected as “wholly inadequate.” The addition to the draft guidelines, obtained by Bloomberg, makes …
February 16, 2018
Britain’s government is ready to push for the kind of Brexit plan for financial services that the City of London has long favored, but which has already run into opposition in Brussels, two government officials said on Friday. London is …
February 15, 2018
The U.K.’s exit from the European Union will be a watershed moment for the City of London and weaken its role as one of the world’s leading financial centers, Bundesbank Executive Board member Joachim Wuermeling said on Thursday. Speaking in …
November 27, 2017
Britain’s financial services industry paid a record 72.1 billion pounds ($96.2 billion) in tax during the past fiscal year, PwC said in a report that piles pressure on the government to secure favorable trading terms for banks after Brexit. Tax …
April 3, 2017
The City of London should emerge largely unscathed from Brexit even though thousands of banking and insurance jobs could move to the continent, the financial district’s policy chief said. The “City” or “Square Mile,” home to over 250 foreign banks …
March 24, 2017
One afternoon in mid-January, Prime Minister Theresa May walked into a meeting room in the Swiss resort of Davos to face Wall Street’s most powerful bankers. May had delivered her vision two days earlier for pulling Britain out of the …
December 22, 2016
Up to 10 percent of jobs in London’s financial district may be lost if Britain fails to secure adequate access to European Union markets after Brexit, a City of London official said on Wednesday. Bankers first called for full access …
December 6, 2016
The U.K. government promised to make sure London keeps its place as the leading financial center after Brexit, following top-level talks between global bank chiefs and senior ministers. U.K. Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis …
September 7, 2016
Chancellor of the Exchequer Philip Hammond will meet senior bankers in London on Wednesday to set out the government’s plans to support the economy and sound out their views for a post-Brexit Britain. Hammond will host several members of the …
August 26, 2016
Big financial groups in London are losing faith in a quick fix to get access to the European Union after Britain leaves the bloc and are instead drawing up contingency plans to avoid becoming hostage to Brussels politics. In the …