FCA tells EU to get on with reciprocal passporting
Financial Conduct Authority chief executive Andrew Bailey has told the European Union to “get on with it” and reciprocate passporting for UK firms during the implementation period.
European Union
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Chancellor: UK financial services crucial to EU trade deal
Philip Hammond has given a glowing endorsement of the UK’s financial services sector amid Brexit negotiations, insisting it is in the “mutual interest” of the UK and Europe that it is included in a free trade agreement.
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BoE: Brexit will cost 75,000 finance jobs
Up to 75,000 jobs in financial services could be lost in post-Brexit upheaval, the Bank of England believes.
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High borrowing and economic fragility may hit austerity easing
The scope for the Chancellor of the Exchequer Philip Hammond to ease austerity may be limited as public sector borrowing has increased while the economy remains fragile, according to consultancy Pantheon Economics.
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EU warns regulators to prevent ‘letter box’ investment firms
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
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UK fund managers fear dud deal on Brexit
Most UK fund managers fear the government has no idea what the asset management industry needs from Brexit to secure a good deal, according to research by consultancy MJ Hudson.
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Eurozone inflation hits three-month low as euro sees more losses
The March eurozone inflation figure decelerated to its lowest rate in three months as the euro lost further ground against the pound on Wednesday (19 April).
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PA ANALYSIS: The battle for financial services as Brexit gets real
Remembered as England’s “largest and bloodiest” encounter, the Battle of Towton of 29 March 1461 gave the country a new monarch and deepened divisions that would not be healed for decades.
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May reveals Brexit plan as inflation jumps and Carney hints at rate rise
Inflation in the United Kingdom economy climbed to 1.6% on an annualised basis in December, up significantly from 1.2% in November.
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CBI issues fresh warning on Brexit threat to financial services
Barrier-free trade with the EU will be crucial if the UK wants to hold on to its reputation as a hub for financial services according to a new report from the Confederation of British Industry (CBI).
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PA ANALYSIS: With the election over Trump risk heads east
Winter is coming, but instead of flying south the flock of black swans that has pecked away at 30 years of globalisation this year is heading east toward Europe.
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The Brexit debate: What exactly do we know?
As the British government struggles to trigger an exit from the European Union, fund distribution heads at some of the biggest names in the industry share their thoughts on the implications for their UK and European operations.
