About: City of London

London’s bankers – pioneers of green finance?

Last week, the UK became the first major industrialised country to pass a law to reduce its carbon emissions to zero by 2050. Now London is publishing a strategy for redirecting global financial investments into climate-friendly projects. The idea of bankers investing in the environment should sound less paradoxical in the future. EURACTIV Germany reports.
Brexit 21-02-2019

Brexit turns EU into landlord in the City of London

The European Medicines Agency is looking to sublet its former headquarters in the financial district of London, after a British court ruled on Wednesday (20 February) that it cannot break its lease despite the UK’s withdrawal from the EU.
City of London skyline at sunset
Brexit 24-04-2018

Commission defends ‘equivalence’ with UK for financial services

European Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.
Brexit 03-04-2018

Paris ahead of Frankfurt for Brexit City jobs

While banks in London have drastically scaled back their post-Brexit relocation estimates, they are now favouring France to Germany, according to a survey led by Reuters. EURACTIV’s partner La Tribune reports.
Brexit 28-03-2018

Brexit financial services deal will be difficult

The industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU.  The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.
Brexit 06-02-2018

UK watchdog calls for finance pact with EU to avoid Brexit chaos

British and European Union watchdogs could sign a pact to avoid Brexit disrupting trillions of pounds in cross-border financial contracts and undermine market stability, a top UK regulator said yesterday (5 February).
Brexit 31-10-2017

Goldman CEO has high hopes for London HQ post-Brexit, despite uncertainty

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.
Brexit 11-10-2017

EU lawmakers tentatively back Brexit clearing law that could clobber Britain

European Union lawmakers on Tuesday (10 October) gave broad support to a law that could end the City of London's global dominance in clearing euro-denominated financial contracts after Brexit.
Brexit 24-08-2017

UK finance sector fights to preserve ‘passporting’ rights

The UK's financial sector is seeking an "ambitious" trade pact between Britain and the EU to try to prevent a costly shift of jobs and business to the continent once the country leaves the bloc, according to a draft report seen by Reuters.
Brexit 27-07-2017

Demand to rent UK commercial property falls to 5-year low

Demand to rent British commercial property levelled off for the first time in almost five years during the past three months, as online shopping hurt high-street retailers and Brexit and election worries unsettled other potential tenants.
Banking union 13-06-2017

EU seeks post-Brexit powers over London euro clearing

The EU unveiled plans Tuesday (13 June) to give itself powers to force a huge slice of London's banking business out of the UK after Brexit in a blow to the city's supremacy as a global financial hub.
Economy & Jobs 04-05-2017

EU declares Brexit battle over euro clearing

The EU fired a fresh salvo at the UK on Thursday (4 May), proposing fresh rules that would require a huge slice of London's banking business to leave the UK after Brexit.
Brexit 26-04-2017

Britain could lose 4,000 Deutsche Bank jobs over Brexit

Deutsche Bank could move up to 4,000 jobs away from Britain, the group's compliance chief said Wednesday (26 April), as Germany's largest lender struggles to work out the consequences of Brexit.
Brexit 25-04-2017

EU warns Britain: Don’t assume free trade deal for the City

European Union leaders will warn Britain it cannot assume its big financial services industry will be included in any free trade deal after Brexit, diplomats said on Monday (24 April) after fixing negotiating terms in a draft document.
Brexit 25-04-2017

Jobs hold fast in shadow of Brexit… for now

Britain’s labour market has so far been resilient, but salaries could fall as a result of increased competition after the country exits the EU.
Competition 29-03-2017

EU regulators scupper stock market merger on Brexit day

EU antitrust regulators vetoed a proposed €29 billion merger of Deutsche Börse and the London Stock Exchange on Wednesday (29 March), just as the UK triggered divorce talks with the EU.
Economy & Jobs 28-02-2017

As Brexit talks loom, EU dodges early clash with City of London

The European Union will not pick an immediate fight with the City of London over its right to clear euro-denominated securities, EU officials said on Monday (27 February) , as Britain prepares to trigger the process of quitting the bloc.
Brexit 02-11-2016

72% of UK bankers think London will keep ‘financial centre status’ post-Brexit

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).
Euro & Finance 29-09-2016

French financial regulators throw open their arms to the victims of Brexit

France will accelerate and simplify the registration of financial companies looking to leave the City of London ahead of the UK's exit from the EU, the country's regulators announced on Wednesday (28 September). EURACTIV’s partner La Tribune reports.
Brexit 22-09-2016

5,500 UK-based finance firms could lose EU ‘passporting’ rights

The 'passport' rights allowing 5,500 British-based financial firms to operate freely across the European single market are at stake in the fallout from Brexit, posing a 'significant' risk to the finance sector, the country's financial watchdog has revealed.
Brexit 19-09-2016

UK banks to lose EU ‘passport’ post-Brexit, warns ECB boss

Financial institutions based in Britain will lose so-called passporting rights allowing them to operate across the European Union unless post-Brexit Britain is at least part of the European Economic Area, ECB policymaker Jens Weidmann has said.
Brexit 16-09-2016

Capital flight: The City will decline outside EU, and Britons will be the poorer for it

The effects of Brexit may not be felt immediately, but it spells the end of the City as we know it. The last 15 years will go down as London’s golden age and be sorely missed, writes Nicolas Véron.
Brexit 01-09-2016

French business lobby: ‘Prolonging Brexit will damage the EU’

The result of the British referendum should be enacted as soon as possible to avoid paralysing the European Union, France's top business lobbyist told EURACTIV France.
Euro & Finance 19-08-2016

Frankfurt woos London banks after Brexit vote

A German politician said on Thursday (18 August) he was trying to persuade foreign banks to make Frankfurt their home after Britain's vote to leave the European Union, and outlined how Europe's biggest economy wants to bolster its financial capital at London's expense.

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