The cryptocurrency industry has long been anticipating the launch of a Bitcoin (BTC) exchange-traded fund (ETF). However, while everyone is waiting for a Bitcoin ETF approval, an independent investment management […]
Fewer than 4,600 banking jobs will be moved out of London because of Brexit, according to new research. That figures represents just 6% of the total number of people employed by big international banks in the City – and is far below previous, gloomier predictions.
Two separate house price surveys published Monday, report a further decline in London property prices in September and October. According to the monthly house price index from Acadata and LSL Property Services, the average house price in England and Wales fell 0.1% on the month and rose 1.3% on the year, in September. However, excluding London and the south east, annual house price inflation was 3.3% higher.
Uber is to be sensationally stripped of its licence to operate in London in a huge blow to the ride-hailing firm. The firm, which is used by 3.5 million people and 40,000 drivers in London, said the licence decision "would show the world that, far from being open, London is closed to innovative companies".
A Transport for London (TfL) spokesman said: "Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications."
The Council of the EU has received bids from 23 cities to host the European Banking Authority and the European Medicines Agency, which will be relocated after Brexit.
In total eight offers have been made to host the EBA, which regulates the European banking sector, assessing risks and vulnerabilities by carrying out EU-wide stress tests. Some 19 cities are bidding to host the EMA, which is responsible for the scientific evaluation, supervision and safety monitoring of medicines in the EU and maintains the single market for medicines in the EU.
Research by think tank the Centre for London concludes that the looming EU exit could be a factor in reducing numbers of Europeans coming to the capital to work, a slowdown in job creation, declining business confidence and decelerating house price growth.
The report underlined an economic slowdown included deteriorating house prices and plummeting business confidence, coinciding with a drop in the numbers of Europeans registering to work.
Swiss bank UBS is weighing up whether to move banking jobs in London to Frankfurt, Madrid or Amsterdam to cope with Britain’s planned departure from the European Union, Chief Executive Sergio Ermotti said in an interview with CNBC.
With around 5,000 employees based in London, Switzerland’s largest lender has been preparing contingency plans even before British citizens, in a referendum, voted to leave the EU in June 2016.
"I think Frankfurt is a location of choice. There are different, other locations that could come into consideration," Ermotti said in the interview broadcast on Monday, according to a transcript.