Amsterdam has surpassed London as Europe’s leading share trading hub in the wake of Brexit.
An average €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE Europe and Turquoise in January, according to data from CBOE Europe first reported by the Financial Times.
EU-based financial firms are banned from trading in London because the EU has not recognised UK regulations on exchanges as equivalent to its own.
Read more at:
Brexit: Amsterdam surpasses London as Europe’s leading share trading hub | The Independent
Showing posts with label London. Show all posts
Showing posts with label London. Show all posts
Monday, February 15, 2021
Sunday, November 29, 2020
The Netherlands: Unilever officially no longer Dutch company
For 91 years, the company structure was divided between the Netherlands and Great Britain, with two head offices in London and Rotterdam. The company also had two boards and two types of shares.
To simplify its structure, the company decided in 2018 to opt for one main office. Initially, the choice fell on Rotterdam, possibly partly due to the government's announcement to abolish the dividend tax. However, after opposition from influential shareholders, London became the final choice. In the end, the abolition of the dividend tax in the Netherlands was not passed.
The restructuring means that important strategic decisions will subsequently be made in London. This brings an end to the long Dutch history of the company, but in practice – at least in short term – there won't be much change.
Read more at: Unilever officially no longer Dutch company | NL Times
To simplify its structure, the company decided in 2018 to opt for one main office. Initially, the choice fell on Rotterdam, possibly partly due to the government's announcement to abolish the dividend tax. However, after opposition from influential shareholders, London became the final choice. In the end, the abolition of the dividend tax in the Netherlands was not passed.
The restructuring means that important strategic decisions will subsequently be made in London. This brings an end to the long Dutch history of the company, but in practice – at least in short term – there won't be much change.
Read more at: Unilever officially no longer Dutch company | NL Times
Monday, March 11, 2019
Britain - Gartner Data and Analytics Summit: Use of big data analytics keeps the Netherlands dry and transforms fashion brands
The use of big data analytics has helped everything from
water management in the Netherlands to both the retail and insurance
industries to undergo digital transformation, as proven in a number of
case studies at the Gartner Data and Analytics Summit.
From defending the Netherlands against the type of flood that claimed 1,800 lives 66 years ago to helping fashion brands sail confidently through the perilous waters of online shopping, the use of big data analytics has never had such a profound effect.
Sensor technology interconnected through the Internet of Things (IoT), artificial intelligence and data analysis have been applied to water management to keep Dutch communities safe in an era when climate change is beginning to cause the country real concern.
And in business, they have traditional industries such as retail and insurance to meet customer demand and improve internal processes.
A range of case studies were put forward at the Gartner Data and Analytics Summit in London this week to highlight how almost any sector or business function can undergo digital transformation through intelligent data insight
Read more: Use of big data analytics keeps Holland dry and transforms fashion br
From defending the Netherlands against the type of flood that claimed 1,800 lives 66 years ago to helping fashion brands sail confidently through the perilous waters of online shopping, the use of big data analytics has never had such a profound effect.
Sensor technology interconnected through the Internet of Things (IoT), artificial intelligence and data analysis have been applied to water management to keep Dutch communities safe in an era when climate change is beginning to cause the country real concern.
And in business, they have traditional industries such as retail and insurance to meet customer demand and improve internal processes.
A range of case studies were put forward at the Gartner Data and Analytics Summit in London this week to highlight how almost any sector or business function can undergo digital transformation through intelligent data insight
Read more: Use of big data analytics keeps Holland dry and transforms fashion br
Monday, August 13, 2018
Britain-Banking Industry-Brexit:Banks' post-Brexit 'fragmentation' plans hold risks and costs - by Sinead Cruise, Pamela Barbaglia
Several of the world’s biggest banks are in the process of relocating a
number of staff who deal directly with clients and some back-office
functions as Britain prepares to leave the European Union next March.
The banks, which include JP Morgan (JPM.N), Goldman Sachs (GS.N), Citi (C.N), Morgan Stanley (MS.N) and Bank of America (BAC.N), plan to “fragment” their operations by expanding or launching services in more than just one city.
While beefing up operations in traditional financial centres such as Frankfurt, Luxembourg and Paris, they are also seeking to expand in citiePlaying down the links with Brexit, the banks say the moves will bring them closer to clients and cut the costs of concentrating their operations in expensive London.
But the rush to set up offices in continental Europe has been mainly triggered by the fear of losing the benefits of EU “passports”, which remove internal borders and allow banks operating in London to serve clients across the bloc.
“It is an enforced change in strategy. If Brexit wasn’t happening, would we be doing all this? No, of course we wouldn’t. And neither would anyone else,” said an insider at a large U.S. bank.
“Does it get you closer to clients? Yes, of course it does. But people are trying to make a virtue out of a necessity,” said the insider, who declined to be named because of the sensitivity of the subject.
Read more: Banks' post-Brexit 'fragmentation' plans hold risks and costs | Reuters
Friday, June 23, 2017
Brexit: EU prepares to move two agencies from London - Laurence Pete
EU leaders have officially launched
the competition between member states to decide which will host two
London-based EU agencies, responsible for medicines and banking.
.
Some countries are bidding to host both the European Medicines Agency (EMA) and European Banking Authority (EBA).
It means hundreds of jobs moving from London, along with significant revenue from hotel stays and conferences.
Read more: EU prepares to move two agencies from London - BBC News
Tuesday, May 2, 2017
Banking Industry EU: JPMorgan to Move Hundreds of Staff from London to Three EU Offices following Brexit
JPMorgan Chase & Co.
plans to move hundreds of London-based bankers to expanded offices in
Dublin, Frankfurt and Luxembourg as it prepares for the U.K. to lose
easy access to the European Union’s single market after Brexit, the
firm’s head of investment banking said.
"We are going to use the three banks we already have in Europe as the anchors for our operations," Daniel Pinto said in an interview Tuesday in Riyadh, referring to the New York-based firm’s local entities. "We will have to move hundreds of people in the short term to be ready for day one, when negotiations finish, and then we will look at the longer-term numbers."
Global banks are preparing to move some London-based operations into new or expanded bases inside the EU after British Prime Minister Theresa May triggered the formal mechanism for quitting the 28-nation bloc. Before the June referendum, JPMorgan Chief Executive Officer Jamie Dimon told U.K. employees that as many as 4,000 could be relocated in the event of Brexit. In January, he said that number could be higher -- or lower -- depending on how the government’s negotiations played out.
"We have to plan for a scenario where there is no U.K.-EU passporting deal, and we have to move a substantial portion of our business to continue serving our European clients," Pinto said. "We’ll have to wait to see what kind of deal can be achieved and see what we need to do from there."
Read more: JPMorgan to Move Hundreds of Staff to Three EU Offices on Brexit - Bloomberg
"We are going to use the three banks we already have in Europe as the anchors for our operations," Daniel Pinto said in an interview Tuesday in Riyadh, referring to the New York-based firm’s local entities. "We will have to move hundreds of people in the short term to be ready for day one, when negotiations finish, and then we will look at the longer-term numbers."
Global banks are preparing to move some London-based operations into new or expanded bases inside the EU after British Prime Minister Theresa May triggered the formal mechanism for quitting the 28-nation bloc. Before the June referendum, JPMorgan Chief Executive Officer Jamie Dimon told U.K. employees that as many as 4,000 could be relocated in the event of Brexit. In January, he said that number could be higher -- or lower -- depending on how the government’s negotiations played out.
"We have to plan for a scenario where there is no U.K.-EU passporting deal, and we have to move a substantial portion of our business to continue serving our European clients," Pinto said. "We’ll have to wait to see what kind of deal can be achieved and see what we need to do from there."
Read more: JPMorgan to Move Hundreds of Staff to Three EU Offices on Brexit - Bloomberg
Sunday, July 17, 2016
Britain: London’s reaction to Brexit: “A bloody disaster… we’re second division now” - by Ryan Ramgobin
London voted overwhelmingly in favour of United Kingdom to remain a
member of the European Union, with 59.9% of votes cast wanting to
Remain.
Seven of the ten areas with the highest share of the Remain vote were in London, with Lambeth, Hackney and Haringey, polling over 75% to stay in the bloc.
The referendum result left swathes of London shocked and disappointed.
Several believe that immigration was misrepresented in the lead up to the referendum.
One woman was dismayed with the result: “We’re one of the countries that benefit from immigration.
I think that asylum seekers and refugees are a separate issue and why would you close the door on people who are in need?”
Another Remain voter believed Leave campaigning was “almost like propaganda.”
“You open up a newspaper… there’s a picture [with the caption] ‘coming soon to a greenfield near you’ and they have pictures of these Syrian refugees…”
Read more: London’s reaction to Brexit: “A bloody disaster… we’re second division now” | UK | News | The Independent
Seven of the ten areas with the highest share of the Remain vote were in London, with Lambeth, Hackney and Haringey, polling over 75% to stay in the bloc.
The referendum result left swathes of London shocked and disappointed.
Several believe that immigration was misrepresented in the lead up to the referendum.
One woman was dismayed with the result: “We’re one of the countries that benefit from immigration.
I think that asylum seekers and refugees are a separate issue and why would you close the door on people who are in need?”
Another Remain voter believed Leave campaigning was “almost like propaganda.”
“You open up a newspaper… there’s a picture [with the caption] ‘coming soon to a greenfield near you’ and they have pictures of these Syrian refugees…”
Read more: London’s reaction to Brexit: “A bloody disaster… we’re second division now” | UK | News | The Independent
Friday, May 6, 2016
Brexit: London Mayor Elections 2016: Amid Tight Brexit Polls, Pro-EU Sadiq Khan Poised For Victory
With the referendum on the U.K. leaving the EU looming June 23, a
so-called Brexit has become a prominent topic of debate leading up to
the London mayoral election, in which Khan is facing off against
pro-leave politician Zac Goldsmith to become the leader
of the nation’s capital.
While the London mayor exhibits limited power over the outcome of the referendum, a pro-Brexit mayor would have been seen as a symbolic defeat both for the Prime Minister David Cameron and for his entire pro-EU campaign, experts said. London has historically been heavily integrated into the EU financial and political system as well as statistically anti-Brexit.
“It’s crucial [for the EU campaign] that Goldsmith won’t be winning,” said Charles Lichfield, an EU analyst for risk consultancy Eurasia, saying Khan’s win is “certainly not something that the pro-Brexiters could use.”
Nearly 60 percent of Londoners who responded to a recent YouGov poll said they supported the U.K. staying in the EU. London has long been considered not only an international capital but a European one where EU nationals from across the continent live, work and study. With the London stock exchange and a thriving financial services sector, the capital is a financial hub that facilitates trade within the EU and beyond, and many citizens have expressed fear the city would lose some of its status and economic standing.
The debate over a Brexit centers on national sovereignty, security and economic strength. Supporters of the U.K. leaving the EU say the country would be better able to control its national borders without constraints from the EU while maintaining London would keep its economic prowess with or without the EU trading bloc. Proponents of staying in the EU argue the country’s membership is part of what has contributed to security and a thriving economy. The margin between the two camps has remained tight in the weeks leading up to the June vote, and the latest results from the Financial Times’ Brexit poll tracker — which takes the average of recent polling data — put support for remaining in the EU at 46 percent, and support for leaving at 43 percent.
If Goldsmith wins — a seemingly unlikely possibility as Khan was leading according to the most recent polling information — pro-Brexit campaigners would have been able to point to London as a symbol of the necessity for a Brexit, arguing if the European hub could recognize the necessity of leaving Europe, then everyone could, Lichfield explained.
Current London Mayor Boris Johnson came out in favor of a Brexit in February, going against the stance both of his Conservative Party and of the prime minister, a close political ally. A pro-Europe London mayor such as Khan would complete a pro-European trifecta of the prime minister, the London mayor and the chancellor of the exchequer — three of the most powerful positions in the U.K., all lobbying for the U.K. to stay in the EU.
Read more: London Mayor Elections 2016: Amid Tight Brexit Polls, Pro-EU Sadiq Khan Poised For Victory
While the London mayor exhibits limited power over the outcome of the referendum, a pro-Brexit mayor would have been seen as a symbolic defeat both for the Prime Minister David Cameron and for his entire pro-EU campaign, experts said. London has historically been heavily integrated into the EU financial and political system as well as statistically anti-Brexit.
“It’s crucial [for the EU campaign] that Goldsmith won’t be winning,” said Charles Lichfield, an EU analyst for risk consultancy Eurasia, saying Khan’s win is “certainly not something that the pro-Brexiters could use.”
Nearly 60 percent of Londoners who responded to a recent YouGov poll said they supported the U.K. staying in the EU. London has long been considered not only an international capital but a European one where EU nationals from across the continent live, work and study. With the London stock exchange and a thriving financial services sector, the capital is a financial hub that facilitates trade within the EU and beyond, and many citizens have expressed fear the city would lose some of its status and economic standing.
The debate over a Brexit centers on national sovereignty, security and economic strength. Supporters of the U.K. leaving the EU say the country would be better able to control its national borders without constraints from the EU while maintaining London would keep its economic prowess with or without the EU trading bloc. Proponents of staying in the EU argue the country’s membership is part of what has contributed to security and a thriving economy. The margin between the two camps has remained tight in the weeks leading up to the June vote, and the latest results from the Financial Times’ Brexit poll tracker — which takes the average of recent polling data — put support for remaining in the EU at 46 percent, and support for leaving at 43 percent.
If Goldsmith wins — a seemingly unlikely possibility as Khan was leading according to the most recent polling information — pro-Brexit campaigners would have been able to point to London as a symbol of the necessity for a Brexit, arguing if the European hub could recognize the necessity of leaving Europe, then everyone could, Lichfield explained.
Current London Mayor Boris Johnson came out in favor of a Brexit in February, going against the stance both of his Conservative Party and of the prime minister, a close political ally. A pro-Europe London mayor such as Khan would complete a pro-European trifecta of the prime minister, the London mayor and the chancellor of the exchequer — three of the most powerful positions in the U.K., all lobbying for the U.K. to stay in the EU.
Read more: London Mayor Elections 2016: Amid Tight Brexit Polls, Pro-EU Sadiq Khan Poised For Victory
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