Catherine McGuinness News

London Expects Only Half of Bankers to Return to Their Offices by Year-End

London’s normally buzzing financial districts will still be a pale shadow by the end of the year, as banks plan for no more than half their staff, who have mostly worked from home throughout the COVID-19 pandemic, to come to …

London Workers Seek Assurance Transport System Is Safe Before Returning to Offices

Workers in the City of London need to have greater confidence that traveling on the capital’s public transport system is safe before they will return to their offices amid “mixed messages” from officials, financial industry representatives said. More than 80% …

UK Financial Services Could Fare Less Well in U.S. Trade Deal than Energy, Cars

Britain’s financial services industry could fare less well than energy, autos and other sectors under a free trade deal with the United States, the government said on Monday. Britain said in its negotiating mandate for a free trade agreement (FTA) …

UK Financial Services Industry Will Emerge Stronger from Brexit: Gov’t Ministers

Britain’s finance industry will emerge stronger from Brexit, remaining one of the world’s top financial centers, ministers in Prime Minister Theresa May’s government forecast on Monday. Since Britain voted to leave the European Union three years ago, London’s financial services …

Brexit Update: City of London Prepares for Worst, Hopes for Best

Dismay, confusion, relief — and hope. The City of London had a range of reactions to the U.K. Parliament’s overwhelming rejection Tuesday night of Prime Minister Theresa May’s blueprint for quitting the European Union, and her sprint to cobble together …

Most UK Insurers, Banks, Financial Firms Will Lose EU Access with No-Deal Brexit

Most banking, insurance and other financial firms in Britain would be cut off from the European Union if there is a no-deal Brexit, the bloc’s executive body said on Wednesday. Financial services are Britain’s most important tax-earning sector, with the …

Brexit Uncertainties Remain for City of London – Despite Approval of Draft Deal

The City of London averted one disaster with the draft Brexit deal announced Wednesday. But the resignation of Brexit Minister Dominic Raab showed the obstacle course is far from over. Even if the U.K. Parliament clears the agreement — and …

London Attracts Financial Services Investments Despite Cloud of Brexit: Report

Britain’s financial sector brushed off Brexit uncertainty in 2017 to attract more inward investment than eight rival centers vying for its business, the City of London Corp. said on Wednesday. The body that governs the capital’s historic “Square Mile” financial …

UK Financial Services Sector to Remain Largely Unscathed from Brexit: Barclays’ Chief

Britain’s banking industry will emerge largely unscathed from Brexit and retain its position as one of the world’s top two financial centers for the foreseeable future, Barclays’ Chairman John McFarlane told Reuters. Home to the world’s highest number of banks …

Fewer Than 5,000 UK Financial Services Jobs Expected to Move by ‘Day One’ of Brexit

Fewer than 5,000 financial jobs might move out of Britain by “Day One” of Brexit and future relocations will depend on new trading terms with the European Union, Bank of England Deputy Governor Sam Woods said on Wednesday. “We have …