Home » Tech

Banks to move thousands of jobs over Brexit

20 January, 2017, 00:59 | Author: Abraham Jackson

While May insists that Britain will abandon the EU's common market, Khan said she should press still in Brexit negotiations for "privileged access" to the trading area and for London to have the ability to hire the right talent from overseas.

Leading financial firms warned for months before Britain's June referendum on European Union membership that they would move jobs out of the country if there was a vote to leave but have set out few details since on how many will go or where to.

While warnings by financial institutions that they will shift jobs away from London due to Brexit poses a risk the country's economy and commercial property markets, there was a call on Thursday to "take their threats with a dose of scepticism".

Mr Dimon said that number could rise or fall "depending on negotiations".

"Operating our business to maximise our global potential, we were trying to get as much into the United Kingdom as we could".

Earlier this week, HSBC announced it plans to move up to 1,000 jobs to Paris while UBS is shifting the same amount of jobs to Europe.

But the USA investment bank played down reports that the bank may cut London staff in half to around 3,000, while organising transfers to NY and to a new subsidiary in Frankfurt.

Netflix Inc. (NFLX) Is Rising After Q4 Earnings Surpassed Expectations
FBR & Co reiterated a market perform rating and issued a $100.00 target price on shares of Netflix in a research note on Tuesday. Overall, the Street remains bullish on the stock ahead of the company's upcoming fourth quarter earnings release.

Poroshenko instructs ministry to file lawsuit against Russian Federation to UN International Court
North Atlantic Treaty Organisation has also bolstered its forces in the Baltic states and Poland to ward off Russian aggression. The International Court of Justice in The Hague, Netherlands, released more details on the case on Tuesday.

What It's Like to Get Caught in an Avalanche
Oye posted this with the video: "Not how I planned on starting the morning.stay safe out there kids!" Oye wrote on Facebook. At one stage it appears Mr Oye was submerged under snow as he slide, dodging pine trees and rocks.

"We continue to work through all possible implications of the Brexit vote".

'We're slowing down that decision'.

The company is considering moving as many as 1,000 employees including traders and compliance managers to Frankfurt as the firm shifts operations across the Continent and to NY, the newspaper said.

'As a result, we have not taken any decisions as to what our eventual response will be'. "One of the things I am doing is not just lobbying the British government but lobbying businesses to press upon their governments the fact that a hard Brexit would be bad for London and for Europe too", Khan told CNBC broadcaster in an interview on the sidelines of the Davos economic forum.

Financial firms have accepted that they will lose their "passporting" rights to freely sell services across the 28-nation bloc after Brexit, but want more time to adapt to whatever terms are agreed with the EU.

Barclays' chief executive Jes Staley, meanwhile, confirmed the bank's commitment to Britain.

Recommended:

  • Bella Hadid Gets Reinforcements From Sister Gigi and Mom

    The insider added that they are not yet "that serious", but even if they were, Bella is "playing the victim card way too hard". Gomez leaves her thick, chocolate-brown tresses long and luxurious, but this sophisticated style is really working on her.
    Mark Hamill reads Donald Trump's tweets about Meryl Streep, as the Joker

    Mark Hamill reads Donald Trump's tweets about Meryl Streep, as the Joker

    It seems though that Hamill is open to playing the maniacal nemesis of Batman once more if only to ridicule a real-life person. Mark Hamill channeled the voice of The Joker once again to spoof Donald Trump . "Just more very dishonest media".
    Who is Lord Snowdon? Princess Margaret's former husband dies

    Who is Lord Snowdon? Princess Margaret's former husband dies

    He remains the only photographer to have had sittings with 90-year-old Queen Elizabeth II, Britain's longest running monarch. He was named the Earl of Snowdon a year after the couple married and a month before their first child, David, was born.
  • Niners offering coaching job to Falcons' Kyle Shanahan

    New England Patriots offensive coordinator Josh McDaniels also withdrew his name from consideration. Unless there's some last-minute snafu, Shanahan will be a fine hire for the 49ers.

    NVIDIA SHIELD TV (2015) Gets Android Nougat Update

    The Shield TV had no issues with any of the Android games I tested on it, but it can take a while to download and install them. This will be available for supported apps such as Live Channels as explained in NVIDIA Shield's support page.

    Saginaw MLK Day speaker calls on people to move King's vision forward

    King laid a foundation for future generations to build on, but we need to understand what it took to build that foundation". Bonner said that's the reason the committee has adopt the motto: "Keeping the Dream Alive One Generation to Another".
  • Michelle Obama Got a Sweet Birthday Tweet From POTUS

    Michelle Obama Got a Sweet Birthday Tweet From POTUS

    The streamlined structure of the First Lady's handbag emphasised the subtle striped detailing of her tailored coat. Michelle turned 53 today, and we think that's a ideal reason to go off on one about how much we love her.
    Japan's Rocket Crashes Back To Earth In Launch Failure

    Japan's Rocket Crashes Back To Earth In Launch Failure

    The venture's financial plan was $3.5 million, and it was an exceptional showing toward building future "nano launcher" rockets. This was the rocket's first flight.
    James DeGale suffers perforated eardrum, loses teeth against Jack

    James DeGale suffers perforated eardrum, loses teeth against Jack

    DeGale really looked to be fighting Jack's fight at this point, on the inside where Jack was at his most unsafe . They took the long road, and the timing and circumstances aren't what we all hoped, but this is a big event .
  • China's first freight train to Britain arrives in London

    China's first freight train to Britain arrives in London

    Chinese President Xi Jinping announced the multibillion-dollar investment in infrastructure known as "One Belt, One Road" in 2013.

    Mosul battle: Iraqi army retakes city's east from Islamic State

    The operation has also left more than 148,000 people homeless, according to the United Nations. Ali Hussein who said his unit was still pushing into the Ghabat area along the river bank.

    Hamas slams 'absurd' Paris peace conference

    On Monday, Trump called on Britain to veto future UN Security Council resolutions relating to Israeli matters. The two-state solution would split the city and allow for Palestine to claim East Jerusalem as their capital.


Popular

Samsung embroiled in South Korea money and power scandal
Lee Kyu-chul, the special prosecutor's spokesman, responded, "We determined that establishing justice is far more important". In addition to the perjury charge, prosecutors requested the detention warrant for an embezzlement charge.

IPhone 8 to introduce facial recognition with laser sensor
Nevertheless, some users are already looking forward to what Apple will do with the iPhone 8 and the next line of MacBooks. This could come together for an iPhone 8 design that looks like a cross between the iPhone 4s and the Jet Black iPhone 7.

Broadway Legend Jennifer Holliday Pulls Out of Inauguration Performance In Powerful Letter
I have a personal bond with Congressman Lewis, he loves my singing, I sang at his wife's funeral by special request. Despite the criticism, you won't find him saying "sorry" anytime soon.

Women's March on Washington inspires local event celebrating diversity
Women were jeered, tripped, shoved and spat upon, and police did little to assist them or quell the unrest. The organizers did what more people would like government to do, they listened, adjusted and included.

Windows 10 Game Mode Will Boost Gaming Experience, Says Microsoft
It's no secret that Microsoft wants customers to update to Windows 10, the latest version of the company's operating system. Microsoft has revealed that with one press of the home button it will pull up the enhanced Guide as an overlay.

I have filed a suit against Barrow's inauguration, says Jammeh
West African army chiefs met in Abuja, Nigeria at the weekend in preparation for a possible military intervention in The Gambia. Mr Jammeh criticised the AU's decision in his Sunday address, saying it had not been approved by member states.

Forces In Mosul Make Gains Along Tigris River
The Iraqi forces also found chemical substances Daesh had used to try to make weapons, CTS commander Sami al-Aridhi said. The head of the country's counter-terrorism operations said retaking the area was a significant victory.

Sony Entertainment CEO Michael Lynton is now Snapchat's chairman
However, the studio has seen its share of weak box-office returns and has undergone an executive shakeup in recent years. According to a release from Sony, Lynton will step down this month to ensure a smooth transition for his successor.

SP feud: EC defers decision on allotting poll symbol. What now?
Both factions have submitted to the EC signed affidavits from MLAs and members of the legislative council to the poll panel. Hence, his side should get the symbol. "No one argued for freezing the symbol", Dhavan later told PTI.

Doping: Three Chinese weightlifters lose Olympic gold medals
Ilya Ilin from Kazakhstan, gold medalist in men's 94kg weightlifting , was stripped of gold (with no new victor yet announced). It's not unusual - in fact it's par for the course in the modern age - for Olympics medal standings to change post-Games.