Goldman Sachs chief executive Lloyd Blankfein expects to fill the firm's new European headquarters which is currently under construction in London, but said Britain's exit from the European Union left much outside the bank's control.
A government push to make France more "finance-friendly" is raising Paris' chances of attracting Brexit-fleeing banks from London although it is raising its game at a late stage in the process, a group of senior financial industry executives said.
In his annual letter to shareholders, the chairman of America’s biggest bank expressed his concern about the consequences of Brexit, as well as the financial deregulation promised by Donald Trump’s administration. EURACTIV’s partner La Tribune reports.
The EU will require big foreign banks operating in Europe to set aside billions in reserve funds in a tit-for-tat move against the United States that could also affect post-Brexit Britain, according to a draft proposal seen by AFP.
Donald Trump’s promise to cut red tape in the financial sector is one of the few areas the president-elect has been consistent. Despite his anti-Wall Street rhetoric, the billionnaire is close to America's financial hub. EURACTIV's partner La Tribune reports.
Almost three-quarters of British bankers believe London will still be the financial centre of Europe in five years' time, despite risks surrounding Brexit, according to a study published Wednesday (2 November).
France's Hauts-de-Seine department, west of Paris, has launched a poster campaign at London's St Pancras railway station and Heathrow airport, in an effort to seduce the City's bankers across the Channel. EURACTIV's partner La Tribune reports.
European Union authorities are making contingency plans for the possible winding down of Banca Monte dei Paschi if the Italian lender has a poor reading in stress tests this week and no private or public support is available, an EU official said.
Bulgaria requires an external assessment of its banking system and stable financial markets, to attract much-needed investment to spur economic growth, European Commission Vice-President Jyrki Katainen said on Thursday.
Banks' use of so-called allowances to soften a European Union cap on bonuses could face a "coordinated policy response", the EU's financial services chief Michel Barnier has warned, prompting bankers to argue politicians should steer clear of pay.
In a draft proposal, the European Commission appears on course to step back from earlier plans that would rigorously force large banks to hive off their lending business from their risker trading operations.
The European Parliament called on Wednesday for US access to a global financial database in Belgium, name Swift, to be suspended due to concerns that the United States is snooping on the European Union, not just combating terrorism.
The European Commission yesterday (18 July) urged EU governments to make available to all consumers a basic payment account to ensure that all sections of the population can fully participate in society. But consumer groups accused the Commission of backing down on past promises to table legislation on the matter.
A European banking group will this week test a new price benchmark to set the cost of interbank and corporate lending, challenging the London Interbank Offered Rate (Libor) pricing scheme and paving the way for a stronger role for continental European banks in money markets.
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