British insurers serve as a trial run for the post-Brexit “unshackling”
As a post-Brexit test of the UK’s resolve to “unchain” the City of London following the country’s exit from the European Union, the British government as well as the Bank of England are changing the capital requirements for insurers.Reform may release billions of dollars to fund infrastructure projects that will spur economic growth and help […]
Top earning bankers move to EU from Britain ahead of Brexit
Nearly a hundred highly paid bankers left Britain ahead of its departure from the European Union. The European Banking Authority (EBA) said in its annual survey of bankers earning a million euros ($1.17 million) or more a year that Britain saw a drop of 95 high earners in 2019. The country still accounted for 71% of the 4,963 bankers […]
Yet another EU threat, says UK PM’s Spokesman over French financial services move
Boris Johnson, a spokesman for Prime Minister said that the bloc issuing threats at any sign of difficulty. A good example for this is a French move to delay a European Union financial services deal with Britain over fishing access. Until Johnson grants EU fishermen fair access to British waters, Paris has said it will […]
Brexit hit to British Banks still not fully felt, UK finance ministry says
Britain’s top financial assistants said that the hit to the city of London was less severe than the prediction, from Brexit. Britain has reached the post Brexit steady state. Katharine Braddick, head of financial services at Britain’s finance ministry told an event held by the Peterson Institute for International Economics that banks settling on locations […]