Will London lose its ranking as the world’s financial capital post-Brexit?

London is the financial capital of the UK but will it maintain its appeal after Brexit?The race is on to be the new London

June’s surprising referendum result has put the UK on track to leave the European Union, at the same time sparking speculation that its capital city will experience a mass exodus as overseas-owned banks seek to secure their trading position within Europe. Some organisations already have a foothold in mainland Europe and may be prepared to adopt a ‘wait and see’ approach before jumping ship. But if London does lose its passporting arrangements, which European cities are in line to seize its banking crown? Read more…

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Former Barclays bankers jailed for Libor fraud

Former Barclays traders handed lengthy jail terms for Libor riggingManipulating benchmark rates for gain

Four former Barclays bankers have been handed down jail time following a three-month trial at Southwark Crown Court in London, England. The charges related to conspiring to fraudulently rig global benchmark interest rates between 2005 and 2007 and the convictions represent a victory for the Serious Fraud Office (SFO), which has been pursuing investigations into the Libor scandal for some years but has achieved just one other successful prosecution against six acquittals. Two more Libor-fixing cases by other former Barclays bankers are still under investigation. Read more…

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What kind of post-Brexit deal can the UK negotiate with the EU?

The Brits may have voted for Brexit but how will it continue to trade with the EU?Where do we go from here?

With the UK now steering a course to leave the European Union, following a public referendum in June, the focus has shifted to Brexit specifics and speculation is rife over how the British government will reframe its relationship with the country’s biggest trading partner from hereon in. Negotiations based on an existing model, such as that operated by Norway or Switzerland seem the most likely route but with Leave campaigners favouring a ‘hard’ Brexit, could the UK be left out in the cold? Read more…

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IMF have issued a warning over Eurozone growth following Brexit referendum

IMF signals economic slowdon in eurozone

IMF expresses fears over Eurozone growth

The result of the UK’s Brexit vote is damaging economic stability across the European Union. The International Monetary Fund (IMF) has downgraded growth outlook for the Eurozone and its managing director, Christine Lagarde, is warning of an economic slowdown as confidence dips and markets suffer increased volatility. GDP across the single currency bloc is only expected to grow by 1.6% this year, with a further drop to 1.4% in 2017. The IMF has put this down to the negative impact of the UK referendum and fears that the slowdown will have a knock-on effect in other economies, especially emerging markets. Read more…

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After Brexit, will other EU countries follow suit?

After Britons voted to leave the EU, will other countries follow their lead?After Britons voted to leave the EU, will other countries follow their lead?

Europe is in turmoil after the shock outcome of Britain’s referendum which saw a slim majority of is citizens vote in favour of Brexit. The imminent separation of the UK from the European Union has given voice to political parties in other countries, which are calling for people to be given a voice on their membership of the bloc. But, after the global reaction to the UK’s momentous decision, how likely are other members to push for referendum? Read more…

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Brexit fallout – the likely outcomes

Britons have narrowly voted to leave the European Union but what are the consequences?Britons have narrowly voted to leave the European Union but what are the consequences?

There was plenty of anxiety in the run-up to the UK referendum on its membership of the European Union, but few could have predicted the full impact of the shock decision to leave. In the event, more than 17 million Britons voted to withdraw from Brussels which has brought into sharp focus a debate about some of the likely outcomes. With issues ranging from the problems of economic instability to the possibility of a break-up of the union itself, it appears that the Brexit result could have much wider implications than originally thought. Read more…

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Britain votes Brexit – what happens next?

In a shock result, Britons have narrowly voted to leave the European UnionAfter Britain’s historic vote to leave the EU, what are the implications?

The shock result of the UK’s referendum on EU membership is causing uncertainty across the world. On Thursday 23 June, more than 17 million Britons voted to exit from Brussels. Although formal negotiations will take two years to conclude, the response from the stock markets was swift with exchanges everywhere seeing an instant downturn, as well as flight from the pound. The country has been stripped of its triple-A credit rating. The prime minister stepped down and will leave it to his successor to enact Article 50 of the Lisbon Treaty which will begin the Brexit process. Read more…

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Markets shocked as Britain votes to Brexit from the European Union

In a shock result, Britons have narrowly voted to leave the European UnionIn a shock result, Britons have narrowly voted to leave the European Union

After months of high-octane campaigning and angry deadlock between Westminster’s leading politicians, The United Kingdom has voted to end 43 years of European Union membership. It was a close-run referendum; in the weeks preceding, had been predicting a difference of just a few percentage points between the ‘Remain’ and ‘Leave’ sides. Despite Remain appearing to take a marginal lead, tense hours of voting on 23 June delivered a win for the Leave camp of 52%-48%. Read more…

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Telephone data surveillance may pose a threat to citizens

Stanford University researchers highlight threat to the privacy of ordinary citizensStanford University researchers highlight threat to the privacy of ordinary citizens

Stanford University researchers have released a study that shows how details obtained from telephone calls under routine surveillance programs by the National Security Agency (NSA) may pose a threat to privacy. The report explains how despite only having access to anonymous ‘metadata’ – and without seeing the contents of any of the emails and calls – the scientists were able to ascertain names and addresses, as well as potentially sensitive information, including medical diagnoses. The metadata is widely used by the security services. Read more…

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Are US interest rates set to rise again?

The Federal Reserve looks set to hike US interest rates in the coming monthsThe Federal Reserve looks set to hike US interest rates in the coming months

It seems increasingly likely that the Federal Reserve will impose further interest rate hikes this year, six months after it increased rates for the first time in almost ten years. At the Fed’s review in April, members voted strongly to keep interest rates unchanged, pointing to fears over the sluggish growth of US economy in Q1, Britain’s potential exit from the EU and uncertainty over China. Four hikes were forecast for 2016, but it’s a figure that’s been revised down to two in the light of flat economic conditions globally. Read more…

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