Tag Archives: London

London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based ... Read More »

China’s top bike-sharing company cycles into London

China’s top bike-sharing company Mobike is pedalling into London with its dockless, GPS-enabled bicycles. The “smart” bikes, whose wheels can be locked anywhere and unlocked using a smartphone app, will arrive in the west London borough of Ealing in September, Mobike announced on Monday. The company plans to start with 750 bicycles and increase that number to meet demand. “We’re committed to ... Read More »

Coal India Considering Listing On London Stock Exchange

New Delhi: Coal India Ltd, the world’s largest coal miner, is considering a listing on the London Stock Exchange and has had early discussions with the LSE, three sources with direct knowledge of the matter said on Thursday. A listing by the state-controlled miner would be a boost for the LSE as it looks to attract companies following Britain’s vote ... Read More »

Lloyd’s of London angers staff with workday boozing ban

The days of the three-hour, five-bottle City lunch appear to be well and truly over after Lloyd’s of London introduced a booze ban. The insurance market has told its 800 employees that they are not allowed to drink alcohol between 09:00 and 17:00. Lloyd’s said it had been considering the move for some time to bring it into line with ... Read More »

Brexit threatens 10 percent of London financial jobs: lobby group

Up to 10 percent of jobs in London’s financial district may be lost if Britain fails to secure adequate access to European Union markets after Brexit, a City of London official said on Wednesday. Bankers first called for full access after June’s vote to leave the European Union but such hopes have now faded, leaving the sector to call for ... Read More »

Lloyd’s of London leads business Brexodus from Britain

The business Brexodus is beginning and Lloyd’s of London is leading the charge. The venerable insurance market is one of the City’s great survivors. It has come through innumerable disasters, both natural and man made, from the San Fransisco Earthquake to the 9.11 terror attacks on New York. It has also survived economic and financial disasters and managed to emerge ... Read More »

Asos bets big on London despite Brexit

Another win for the Brexit brigade? The decision by online retailer Asos to hire 1,500 staff over three years, as part of plans to expand its London head office, will no doubt be portrayed that way by Theresa May’s Government. Following similar announcements by Facebook and Google, both of which plan to increase their UK workforces despite the uncertainty created ... Read More »

Qantas to fly from London to Australia non-stop

Passengers will be able to fly from London to Australia non-stop when airline Qantas launches its new service from March 2018. Australia’s national carrier says it will connect Perth, in the west of the country, to the UK capital using Boeing 787-9 Dreamliners. The 9,000 mile (14,498km) flight will take 17 hours. Perth will be a hub for passengers from ... Read More »

House prices rise for second month in September, London weak

British house prices rose for a second month in September and enquiries from buyers picked up for the first time since February, suggesting the housing market has weathered the initial shock of the Brexit vote, a survey showed. But prices in London fell again due to uncertainty about what the decision to leave the European Union means for the capital ... Read More »

Singapore bank halts lending for London properties over Brexit vote

Singapore’s third-biggest lender has suspended new loans for the purchase of London properties as the aftershocks of Britain’s vote to leave the EU are felt around the world. United Overseas Bank said it would “temporarily stop” issuing the loans because of heightened uncertainty following the Brexit decision. “As the aftermath of the UK referendum is still unfolding and given the ... Read More »