Research conducted by New Financial showed a stronger than expected negative impact of Brexit on the UK financial sector. According to his estimates, London has already been affected the most in this regard, which will only get worse in the future. Experts expect a decline in revenues from the financial sector and a reduction in the export of financial services to the European Union. The assets of 275 financial companies leaving the UK amount to 1 trillion 200 billion dollars. Their relocation costs range from approximately 3 billion to 4 billion dollars. In the near future, about 5,000 workers will be transferred to work in cities outside of Britain. Their number will increase further. According to the calculations, about 100 financial sector companies will leave for Dublin. Cities like Luxembourg, Paris, Frankfurt am Main and Amsterdam are also attractive for relocation.
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
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SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau ...