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…

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…

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…

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…