United Kingdom 03 (Nov 17 to Dec 24)

[winston]

Why the Ultra-Wealthy Will Flock to London Even as Brexit Bites

by Giles Broom

City’s ultra-wealthy residents expected to rise 30% by 2026
New York top city for the affluent; Shanghai, Beijing advance

The number of ultra-wealthy people living in the U.K. capital is expected to climb by 30 percent to 6,058 over the next decade. These are people with US$30 million or more.

The projected increase may ease doubts about the city’s appeal stemming from an 80 percent slump in applications for investor visas last year, following the introduction of anti-money laundering checks in 2014. Only 215 wealthy people were granted such visas,

Newcomers see the U.K. as the dominant center for business and financial services in Europe, as well as being the only English-speaking major economy in the region

Prices slid by 6.3 percent in 2016, mainly due to tax changes, although sales volumes increased and sentiment improved at the end of the year

Source: Bloomberg

https://www.bloomberg.com/news/articles ... ium=social

[winston]

Brexit Prompts Scottish Independence Push Amid U.K. ‘Intransigence’

by Rodney Jefferson

Scotland opposes the U.K.’s withdrawal from EU single market
Latest polls show referendum result would be on knife edge

Source: Bloomberg

https://www.bloomberg.com/politics/arti ... mbergdaily

[behappyalways]

Brexit bill: Lords pass landmark legislation on leaving EU
http://www.bbc.com/news/uk-politics-39262081


Scotland seeks second independence vote. Here's why it matters
http://money.cnn.com/2017/03/13/news/ec ... index.html

[winston]

Britain moves closer to EU exit

Britain has moved a step closer to leaving the European Union after parliament cleared the way for Theresa May to begin formal Brexit negotiations.

The landmark legislation, which allows the prime minister to trigger the start of the Article 50 withdrawal process, completed its passage through the House of Lords on Monday without amendment.

Source: AAP

https://au.finance.yahoo.com/news/brita ... 07599.html

[behappyalways]

Brexit: 50 things the UK needs to do after triggering Article 50
http://edition.cnn.com/2017/03/29/europ ... index.html

[winston]

Will London Fall?

https://www.nytimes.com/interactive/201 ... eview&_r=0

[behappyalways]

JP Morgan may move hundreds of jobs in pre-Brexit move
http://www.bbc.com/news/business-39789915

[winston]

Banks planning to move 9,000 jobs from Britain because of Brexit

By Anjul Davies and Andrew MacAskill

LONDON (Reuters) - The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to take shape.

Frankfurt and Dublin are emerging as the biggest winners from the relocation plans. Six of the 13 banks favor opening a new office or moving the bulk their operations to Frankfurt. Three of the banks will look to expand in Dublin.

Estimates for possible finance-related job losses from Brexit are on a broad range from 4,000 to 232,000, according to separate reports by Oliver Wyman and Ernst & Young.

This first phase involves small numbers to make sure the requisite licenses, technology and infrastructure are in place, while the next will depend on the longer term strategy of a bank's European business.

The Bank of England has given finance companies until July 14 to set out their plans.

Source: Reuters

https://finance.yahoo.com/news/banks-pl ... ector.html

[winston]

Bank of England

The Bank of England said yesterday it may need to raise interest rates faster than the market suggests, assuming Brexit goes well.

It said its latest forecasts are based on the assumption that new relations with the European Union are "smooth."

Source: Bloomberg

[winston]

May pounded

Theresa May woke up to another poll that would have seemed unfeasible a few weeks ago, compounding a sense that her campaign is going awry.

The YouGov survey, based on a new model, suggested her Conservatives may fall short of a majority, weakening the pound to a more than five-week low.

YouGov Chief Executive Officer Stephan Shakespeare wrote in the Times that the survey wasn’t a prediction, but an attempt to translate current polling into seats.

Source: Bloomberg

https://www.bloomberg.com/politics/arti ... mpaign=bop