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Representatives of the City of London want to convince the European Union to keep access for the British banks to a single European market after Brexit, and for this purpose, they plan to enlist the support of Belgium, Germany and Spain, the Financial Times writes. Financiers note that the EU's chief negotiator for Brexit, Michel Barnier, expectedly criticized the British government's proposals for the future of the financial services sector, since, in the case of Brussels's acceptance of this option, London's position as the world financial capital and its influence on further regulation of the industry in the EU may intensify. At the same time, American banks have warned the British government that financial companies will leave the country after Brexit, if taxes are not reduced.
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
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