Daniele Nouy, head of supervision at the European Central Bank, said in Frankfurt on Tuesday that license applications from about 20 banks are in some stage of assessment by supervisors on the continent, Bloomberg reported.
"Some have visited us several times to discuss their plans to move," said Daniele Nouy, who heads the ECB’s banking supervision.
The chief executive of UBS, Sergio Ermotti, says it is becoming "more and more unlikely" that the bank will move 1,000 staff from London after receiving "regulatory and political clarifications" around Brexit.
The Swiss bank has previously said that around a fifth of its 5,000-strong UK staff were involved in operations dependent on passporting rights that allow financial services to operate across the bloc.
The gender pay gap refers to the difference in pay between men and women are paid for doing exactly the same job. In most cases, women are paid less tha their male counterparts.
Women in the UK stop being paid on 15th October whereas the average cut off date for Europe is 30th October. According to Eurostat, the gap between male and female salaries in the UK is 20 per cent. The disparity means that by 16 October men have already been paid the amount it would take a woman doing the same job a whole year to earn.
Greece plans to offer handouts worth 1 billion euros to poor Greeks who have suffered during the seven-year debt crisis after beating its budget targets this year, the government said on Thursday. The country expects to return to nearly 2 percent growth this year and achieve a primary surplus – which excludes debt servicing costs – of 2.2 percent of gross domestic product, outpeforming the 1.75 percent bailout target.
Frankfurt is emerging as the frontrunner in the battle for the post-Brexit spoils, as the German city lures banks and jobs out of London amid uncertainty over divorce talks.
After months of stalled negotiations in Brussels between Britain and the EU left London’s future shakier than ever, a growing number of banks are stepping up their contingency plans by leasing office space in other European cities.
While rival hubs have jostled to attract London’s bankers, Frankfurt – the city known by locals as Mainhattan, indicating its dreams of financial stardom – has established a clear edge over competitors such as Paris, Dublin and Amsterdam.
– After an especially strong first quarter (+1.9% year-on-year), growth surprised once again in the second quarter (+2.2%). This pace is above potential and above its 2010-2015 average.
– Credit growth remains solid and beneficial to both companies and households
– Order books and economic surveys suggest that the positive trend will continue
– The political environment has become favourable after elections in France and the Netherlands
EU taxpayers should not be made to pay for the U.K.’s decision to leave the bloc, European Commission President Jean-Claude Juncker told the European Parliament on Tuesday, adding that there had not yet been “sufficient progress” in the negotiations.
In a short speech to open the Parliament’s plenary debate on Brexit in Strasbourg, Juncker emphasized his intention to stick to the bloc’s hard lines on key divorce issues. “The taxpayers of the EU27 should not pay for the British decision,” he told MEPs.
Britain and the EU on Thursday, September 28, hailed the progress of "constructive" Brexit divorce negotiations following a major speech by Prime Minister Theresa May, but Brussels warned that trade talks may still be months away.
Speaking after the 4th round of talks in Brussels, European Union negotiator Michel Barnier and his British counterpart David Davis agreed that May’s speech in Florence had created a "new dynamic" for the discussions.
