HSBC Chief Executive Stuart Gulliver confirmed on Tuesday possible plans to move 1,000 jobs from Britain to Paris in case of a so-called ‘hard’ Brexit, and said recent reforms from the French government would be positive, if enacted. “There is about 1,000 jobs out of 43,000 that are employed in the UK that will be […]
Read moreTaxi app Uber said it will be improving an offer to drivers and would welcome greater legal clarity about different types of employment in Britain, in response to a government review into the gig economy published on Tuesday. The review calls for a new category of worker called a “dependent contractor” meaning that those Britons […]
Read moreJPMorgan chief Jamie Dimon has said that the financial sector needs to be prepared for a so-called “hard Brexit” scenario and has raised the possibility of moving some jobs from the City of London to other European cities. Dimon wants the bank to prepare for the worst-case scenario in the negotiations between the U.K. and […]
Read morePresident Donald Trump will come to Britain on a state visit next year, Sky News quoted senior government sources as saying on Tuesday, quashing expectations that U.S. leader would make the trip this year. Prime Minister Theresa May invited the U.S. president to Britain in January during their first meeting in January, when the two […]
Read moreCoffee drinkers are waking up to some good news Tuesday after new research suggests that a cup of joe a day could keep the doctor away. Two new studies claim to have found a direct correlation between coffee drinking and a reduced risk of suffering from a host of killers, including heart disease, stroke and […]
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OPEC and non-OPEC production cuts can go longer and deeper if necessary, says Russia energy minister
OPEC and non-OPEC producers have the capacity to extend and deepen their production cuts should the oil market’s situation become even more complex, Russia’s Oil Minister Alexander Novak told CNBC on Monday. “If necessary, we can extend the agreement. If necessary, we can increase the amounts that need to be reduced or on the contrary, […]
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Paris is the only other European city with everything major banks need: Safran chairman
Paris is the only European city to offer a credible alternative to financial institutions seeking to scale back their London presence in a post-Brexit world, according to the chairman of Safran. “Paris like London is a large world city. We can offer financial services companies but other business a very good home. We have the […]
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Passive investing boom is creating a 'frightening' risk for markets, Morgan Stanley says
Passive investment strategies have grown in popularity among investors, but they present a “frightening” risk to the markets, warns a Morgan Stanley strategist. The flow of investment from active management funds to passive investment funds is significant; it increased to nearly $500 billion in the first half of 2017, according to Bloomberg data. Morningstar data […]
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France’s Prime Minister pledges to cut tax burden by $8 billion from 2018
France’s Prime Minister has promised to reduce the tax burden by around 7 billion euros ($7.98 billion) from next year by reigning in public spending. Edouard Philippe said at the weekend the government would focus on reducing the budget deficit below the EU-agreed cap of 3 percent of economic output this year. “We are going […]
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GULLIVER is rarely fazed by what happens below the line of his posts. Receiving the occasional shoeing from readers—sometimes insightful, sometimes not—goes with the job. And he has certainly found his views swayed by well-reasoned arguments he finds there. But he was truly gobsmacked at the discussion that ensued from a piece last year about […]
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