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Sunday, 10 December 19:42 (GMT -05:00)



Business And Politics News

Brexit and Bank Capital Outflow


Since the Brexit referendum that took place in the United Kingdom last year, European banks have already withdrawn from the UK as much as 350 billion euros. That’s reported to be the official stats provided by the European Union, The Financial Times reports.
 
In particular, the British assets belonging to European banks shrank from 1,94 trillion euros all the way down to 1,59 trillion euros over the reporting period. That’s -17%. At the same time, their liabilities shrank from 1,67 trillion euros all the way down to 1,34 trillion euros.
 
Experts believe this is going to last until March 2019 when London is supposed to official divorce with the EU. Apparently, those European banks are afraid of potential losses caused by the Brexit. According to the recent survey conducted by the EBA, more than 30% of the interviewed European bankers assume that the uncertainty around the Brexit (and the possible legal changes that may follow it) is the key point of concern today. If there are some changes to the legal side of the matter, especially when it comes to regulating financial contracts, they may end up causing problems with securing data and executing court decisions. So, they think that a standalone agreement between London and Brussels is needed to avoid this kind of issues further down the road.
 
In the meantime, not only are foreign banks withdrawing their capital from the UK, they are also moving their offices to other European states. JP Morgan Chase, one of the biggest investment banks in the world is one of them. Reuters reports that the American bank has already rented offices in the Taunusturm skyscraper in Frankfurt, Germany. By the way, this is believed to be another financial capital of Europe along with London. The bank is also planning to open offices in Dublin and Luxembourg.
 

 

It is reported that the decision to quit London came as the result of the talks between JP Morgan Chase CEO Jamie Dimon and UK Prime Minister Theresa May. Moreover, some of the British financial institutions are now thinking of moving the EU to keep rendering services to European clients. The ECB promised support and licenses to those willing to move to the Eurozone.

 

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Will Bitcoin Mining Leave the World without Electricity?

It seems like people have been obsessed with cryptocurrencies. While loading up on them like crazy, they seem to have forgotten that everything has a price. When it comes to mining cryptocurrencies, this is all about the growing deficit of electricity. The thing is that all those mining farms consume tons of energy. Maintaining that cryptocurrency infrastructure is rather energy-consuming as well since all of that requires really powerful and capacious hardware, which consumes big amounts of electricity.

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According to the experts working for Goldman Sachs, one of the largest investment banks in the world, the U.S. Federal Reserve is probably going to raise the key interest rate 4 times next year.

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Referendum In Catalonia May Hit Europe Harder Than Brexit

The possibility of Catalonia exiting from Spain is dangerous to the integrity of the European Union, even more dangerous than the Brexit. This is what The Daily Telegraph thinks on the matter.

 

Publication date: 01 October 04:58 AM

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Publication date: 29 September 07:51 AM

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Publication date: 27 September 03:16 AM

China’s Debt Bubble May Trigger Another Global Financial Crisis

The Chinese economy keeps on slowing down as China’s debt bubble is growing. International experts are concerned about that. They are afraid of a new global financial crisis, Market Leader reports. The thing is, the Chinese economy is not growing fast enough anymore. Beijing has to admit the economic slowdown. The entire international expert community is now closely watching this slowdown and expressing their concerns about China’s economic prospects amid the mentioned economic slowdown and inflating debt bubble.

Publication date: 25 September 12:44 PM

Why Is German Parliamentary Election Important to Europe?

Judging by the results of several sociological surveys, the chances of electing Angela Markel for the next 4 years is fairly high at the moment. Even though there is almost no intrigue in the election, the international community has still been closely watching it, Market Leader reports

Publication date: 24 September 12:55 AM

Bitcoin Market Cap Exceeds $150 Billion

Bitcoin’s market capitalization exceeded $150 billion the other day. At the same time, the international expert community keeps on pondering upon the near-term prospects of Bitcoin and other digital currencies.

Publication date: 03 September 11:22 PM

American Sanctions Will Cut Investments In Russia

Some experts say that the next round of anti-Russian sanctions imposed a couple of weeks ago is going to undermine the Russian economy. In particular, they are threatening the investment capital inflow.

 

 
A few weeks after Donald Trump reluctantly signed the new sanctions approved by the U.S. Congress, Russian and foreign investors are still trying to figure out what the actual consequences of this decision are going to be. For now, they seem to have understood enough to be afraid of long-term negative consequences for their existing or potential investments in the Russian economy, which has just started recovering after a 2-year recession.
 
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New U.S. Sanctions Against Russia Will Result In Geopolitical Changes

Political expert Lilia Shevtsova commented on the new sanctions against Russia imposed by the United States. She claims that the geopolitical situation in the world is going to change in the near future due to the sanctions.

 

She claims that introducing those sanctions was like a surgery. As the result of this surgery, the USA got rid of a foreign body. After that, Washington is probably going to reset their foreign policy. However, nobody can definitely say what exactly this event is going to result in. But one thing is sure – something is definitely going to change in the world order, and this creates certain threats for Russia.

Publication date: 28 August 03:32 AM