Theresa May is expected to outline Brexit strategy on Tuesday A spokeswoman for the Prime Minister said her speech will set out "more on our approach to Brexit" and will be "in line with our approach of a global Britain and continuing to be an outward looking nation". Opposition parties hope it will end uncertainty…
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Brexit is no longer the biggest risk to the UK financial system, the Bank of England Governor has declared. According to Sky News, Mark Carney shared that the economy was growing more strongly than he or the rest of the Monetary Policy Committee had expected in the wake of the referendum. Mr Carney commented: Strictly speaking,…
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European Parliament head Martin Schulz demanded that the role laid out for MEPs in the Brexit negotiations be beefed up, threatening otherwise to reject any resulting deal, Business Insider just reported. In a letter to EU President Donald Tusk, Schulz criticised draft plans for the process that would relegate the parliament to "a secondary role…
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Sterling traded close to a four-week high on Friday and was heading for its best week since March. The pound jumped right after England's High Court put a spanner in the government's plans to forge ahead with Britain's exit from the European Union. The battered pound returned to its 2.5% against the dollar this week…
Read moreLMAX Exchange, UK technology firm and an FCA regulated multilateral trading facility (MTF) for FX trading, plans to be regulated in Ireland unless the British government preserves the EU single market passporting rights for the financial services industry. LeapRate recently shared an article, indicating that the EU powers are going to take a hard stance on enacting a Hard Brexit, including…
Read moreThe forthcoming IPO of UK-based core banking supplier Misys is running into strong Brexit headwinds as its equity backers prepare to shear £1 billion off the anticipated value of the firm in response to volatile trading conditions. Misys has announced plans to float in early November couple of weeks ago, putting a $5 billion price…
Read moreMany investment banks use their London hubs to run their EU operations, relying on the passporting system that allows them to operate across the bloc while being regulated just in Britain. The Brexit vote could threaten those arrangements if banks no longer have access to the single market. Rob Rooney, CEO of Morgan Stanley International,…
Read moreEuropean traders long the Pound may wake up Friday to learn that they were stopped out.
Read moreAs all players in the Paris financial market are gearing up for the challenges posed by Brexit, the Autorité de contrôle prudentiel et de résolution (ACPR) and the Autorité des marchés financiers (AMF) are getting ready to welcome British-based institutions that wish to locate their business in France. The United Kingdom’s decision to leave the…
Read moreUK stocks oscillated on Thursday, as investors wait to hear if the Bank of England (BoE) has decided to cut its key interest rate for the first time in 7 years in the aftermath of the Brexit vote. The FTSE 100 turned lower by 3 points to 6,631.15 after a slightly higher open. Financial, oil…
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