Posts belonging to Category UK



BREXIT will hit strongly The City

Brexit may lead to half of City’s EU workers leaving UK

More than half of EU nationals currently working in investment management in the UK are not confident they will continue working in the country after Brexit, a report from the CFA Society UK reveals.

CFA UK’s survey of 1,100 professionals found that City workers regardless of nationality feel their job security is under threat as a result of Brexit, with just 43% of EU nationals and 52% of non-EU international employees feeling their job is secure. By comparison, 60% of British national respondents feel that their job is secure. According to CFA UK, the respondents’ views “are likely to have been impacted by their sense of job security in the current climate”.

http://www.investmentweek.co.uk…  Wed.,  18  October 2017

Amazon is a real challenger to Facebook and Google in digital advertising

Amazon An Ad Force To Be Reckoned With

Big-name advertisers are starting to take notice that Amazon is sharpening its assault on the ad business.

The Seattle-based e-commerce giant is increasingly becoming top of mind for advertisers, with product and search ads on Amazon.com, and its data on shoppers being used to run display ads all over the web. Its ad business is already worth over $2 billion.

Kristin Lemkau, chief marketing officer at JPMorgan Chase, said, “I think that they are a force to be reckoned with, they are excellent with everything they do. You have to do business with Amazon.”

http://www.eblnews.com…  Fri.,  06  October 2017

EU wants Apple to pay taxes

EU takes Ireland to court for not claiming Apple tax windfall

The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc (AAPL.O), a move labeled as “regrettable” by Dublin.

The Commission ordered the U.S. tech giant in August 2016 to pay the unpaid taxes as it ruled the firm had received illegal state aid, one of a number of deals the EU has targeted between multinationals and usually smaller EU states.

http://www.reuters.com…  Thu.,  05  October 2017

Social Rights for ‘gig economy’ workers

EU seeks more protection for Uber-style jobs

The European Commission wants more social protection and rights for casual workers, such as those in the “gig economy”, and others with non-standard contracts to try to tackle growing social inequality.

The Commission’s consultation document on these plans, seen by Reuters, is part of a broader reworking of the EU’s economic priorities, after pressure from populist forces that accuse Brussels of having pursued ultra-liberal policies to the detriment of wo

http://www.reuters.comMon.,  25  September 2017

BREXIT: no progress on any of the principle subjects

UK’s approach to Brexit is ‘nostalgic and unrealistic’, says EU negotiator

The UK’s approach to Brexit is nostalgic, unrealistic and undermined by a lack of trust, the EU’s chief negotiator has said in his strongest criticism of the UK’s stance at the talks so far.

In a tense press conference alongside his British counterpart David Davis after the third round of exit talks in Brussels, Michel Barnier was scathing about the UK’s approach to the financial settlement, citizens’ rights and hopes for future access to the single market.

http://www.theguardian.com…  Fri.,  01  September 2017

Bank of America warns about BREXIT transition

Markets are too optimistic about Britain’s Brexit deal

As many as 70% of investors said that they “expect a transition of near-EU membership for at least 1-2 years,” according to a note circulated to clients on Wednesday from BAML’s European Economics group.

Analysts Robert Wood, Gilles Moec, and Sebastien Cross argued this is unrealistic.

http://www.businessinsider.com…   Thu.,  24  August 2017

Stock Market: indicators warnings

Next break in the Stock Market

Alarms are going off even with the stock market at an all-time high. The obvious ones include a degree of complacency illustrated through low volatility and the overall valuation of the stock market.

But there are more reasons to be concerned below the surface. Brad Lamensdorf, the portfolio manager of the short-only Ranger Equity Bear ETF, laid out some of the more hidden warning signs that may be worth looking into.

http://www.businessinsider.com…   Mon.,  07  August 2017

Brexit exodus for Investment banking jobs

70,000 roles may be relocated from the City of London post-Brexit

A banking exodus from London will be costly. International lenders may need to shift as many as 40,000 investment banking jobs to the European Union to maintain activities on the continent after Brexit, according to financial consultants Oliver Wyman.

Banks may also have to pump as much as $50 billion in extra capital into EU subsidiaries “to support new European entities,” analysts at Oliver Wyman said in a report published on Tuesday.

Oliver Wyman is not alone in predicting a banking exodus. The Centre for London estimated last month that as many as 70,000 roles may be relocated from the City of London post-Brexit, while EY last year predicted 83,000 financial services jobs could be lost. Brussels think tank Bruegel made a more conservative forecast of 30,000 jobs lost.

http://www.oliverwyman.com…   Tue.,  01  August 2017

Brexit: Japan’s biggest bank moves investment operations to Amsterdam

Hundreds of MUFG staff could be leaving the UK

Japan’s biggest bank is reportedly set to move its European investment operations from London to Amsterdam because of the uncertainty posed by Brexit. MUFG could move hundreds of its 2,100 London employees to the Dutch capital, sources told the Financial Times.

Other banks are also looking to set up new offices in various European cities because of Brexit. The UK’s withdrawal from the EU is likely to have a significant effect on the financial services industry in the UK – along with numerous other areas – as companies in Britain will no longer be able to operate within the EU framework.

This could potentially block access to clients and significantly interfere with business. Amsterdam is already home to MUFG’s retail and corporate banking operations.

http://www.independent.co.uk…   Mon.,  31  July 2017

Exit from BREXIT?

Voters must be allowed another referendum  at the end of the two year Article 50 process

Sir Vince Cable has offered voters the possibility of an “exit from Brexit” after being confirmed as the new leader of the Liberal Democrats. The former business secretary, 74, succeeds Tim Farron, who stood down in the wake of the General Election because of questions around his faith. The June election saw the Lib Dems increase their tally of MPs by from eight to 12, a modest revival after being almost wiped out in 2015.

Sir Vince, who is the party’s oldest ever leader, said the Government’s handling of Brexit was taking the UK towards the “disastrous outcome” of crashing out of the EU. Negotiations were being conducted by a “dysfunctional, disorganised, disunited” Government, whose strategy was devised before the full complexity of Brexit became apparent, he said, and during a time when Theresa May had “serious political authority”, something she has now lost.

http://news.sky.com…   Fri.,  21  July 2017