Brexit: Euroclear confirms holding company move from London to Brussels

The tax residence and domicile of the clearing house will move to the Belgian capital later this year
Euroclear, the financial clearing house, has confirmed it is shifting the residence of its holding company from the UK to Brussels due to Brexit.
The tax residence and domicile of the holding company of the Brussels-headquartered group, which underwrites trades between large financial firms, will also transfer to the Belgian capital later this year.
Read more British banks will lose ‘passporting rights’ to the EU after Brexit Brexit has put the future ability of UK-based financial firms to operate across the EU and eurozone in doubt and some firms are taking pre-emptive action in case access ends up being withdrawn.
“We want to redomicile the topco to the eurozone. It will be in Belgium as it’s where most of our business operations are. We are preparing to launch a transfer of arrangement sometime after the summer,” Lieve Mostrey, Euroclear’s chief executive told the Financial T..

Glencore boss Ivan Glasenberg quits as Rusal director after US slaps sanctions on Russian firms

The FTSE 100-listed miner also said it will not go ahead with plans to take a stake in EN+ through a share swap
Glencore chief executive Ivan Glasenberg has resigned as a director of Russian aluminium producer Rusal after the US placed sanctions on the company.
The US has named Rusal and EN+ in a new list of sanctions targeting Russian companies and their owners, off the back of a burgeoning diplomatic crisis due to the poisoning of former spy Sergei Skripal and his daughter in Salisbury last month.
The Russian stock market dropped 10 per cent on Monday, with Rusal shares falling as much as 41.8 per cent.
Read more Russia stock market crashes after US imposes sanctions on oligarchs London-listed Glencore said today that while it has various contracts with Rusal for the purchase of aluminium and alumina, it is “committed to complying with all applicable sanctions in its business and is taking all necessary measures in order to mitigate any risks to Glencore's business as ..

Iran-Israel Conflict Escalates in Shadow of Syrian Civil War

Iran-Israel Conflict Escalates in Shadow of Syrian Civil War


Israel Suspected of Striking Syrian Air Base

Videos posted online appeared to show missiles over Homs Province, where a military base was struck on Monday, and fast-moving aircraft were heard over Lebanon.

By CAMILLA SCHICK on Publish Date April 9, 2018.


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BEIRUT, Lebanon — Israel on Monday appeared to have escalated its shadow war in Syria against Iran, with a predawn airstrike against a military base that coordinates Iranian-backed militias, killing four Iranian military advisers.
The dead included a colonel who served as a senior officer in Iran’s drone program, according to Iranian news reports.
The attack on the Syrian air base near the desert town of Palmyra in central Syria drew new attention to a conflict between Iran and Israel that has been steadily increasing in intensity while mostly hidden in the shadows of Syria’s civil war.
As Iran has taken advantage of the war..

UK employers failing to prepare staff for automation, new research shows

A third of workers feel their job will be automated within the next decade
UK employers are failing to prepare their staff for the impact automation will have in the workplace, new research shows.
A third of workers feel that their job will be automated within the next decade, while one in 10 fear they will lose their jobs to automation within two years, according to payroll firm ADP.
Half of those who feel they are at risk because of automation say their employer has yet to reskill them.
Read more UK businesses intent on hiring at record high, new research shows Younger workers are more concerned about automation than any other group, with just under half of workers aged between 16 and 35 fearing for their jobs in the next 10 years.
Anxieties about automation are heavily focused in London, where 46 per cent of workers worry about robots – more than anywhere else in the UK.
“Automation may seem like an issue for future generations, but our findings show that machines could rep..

Beast from the East kept shoppers off the high street in March, shows research

The extreme weather conditions in March gave online expenditure a boost
The chill from the Beast from the East extended to the UK’s high streets last month, with consumer spending growth slowing as shoppers opted to stay at home because of the freezing weather.
According to the latest data from Barclaycard, spending growth fell to 2 per cent in March, down from 3.8 per cent growth in February, which is the lowest level of growth recorded since April 2016.
Read more Construction suffers biggest drop in activity since Brexit vote A third of consumers told Barclaycard the cold weather was the reason they spent less on the high street, and was also the explanation for a 11.7 per cent jump in online expenditure over the month as Britons chose instead to shop from home.
The weather hit petrol spending, which declined 1.8 per cent year-on-year, and also hurt spending in restaurants and pubs, where growth dipped compared with February.
The biggest impact was seen in the garden cent..

EU has grown faster as market for UK exports than Asia and US since Brexit vote, say company directors

Europe remains area where business leaders see the most growth, survey finds
The EU has grown more strongly as a market for UK exporters than either Asia or North America over the past two years, a new survey suggests.
The EU has been the biggest source of growth for 43 per cent of company bosses surveyed by the Institute of Directors. Just 21 per cent pointed to North America, with the same proportion also citing Asia.
Though business leaders said they see potential in Asia and America over the next 5 years, the EU remains the region with the highest expectations for growth, the poll of almost 800 directors found.
Read more UK firms face storm of flawed legislation after Brexit, experts warn Business leaders said the best government facilitator for trade is agreements which reduce tariff and non-tariff barriers with third countries.
The IoD urged the Government to use the next 18 months heading into Brexit transition to consult on and develop a comprehensive trade agenda for..