LONDON (Reuters) - Britain has extended its lead in the global currency trading business in the two years since it voted to leave the European Union, in another sign London is likely to continue to be one of the world’s top two financial centers even after Brexit. FILE PHOTO: U.S. dollars and other world currencies lie in a charity receptacle at Pearson international airport in Toronto, Ontario, Canada June 13, 2018. REUTERS/Chris Helgren Leaving the European Union was supposed to deal a crippling blow to London’s position in global finance, prompting a mass exodus of jobs and business. But with eight months to go, London has tightened rather than weakened its grip on foreign exchange trading, a Reuters analysis shows. Foreign exchange - the largest and most interconnected of global markets, used by everyone from global airlines to money managers in transactions worth trillions of dollars a day - is the crowning jewel of London’s financial services industry. … [Read more...] about Exclusive: Britain extends lead as king of currencies despite…
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It's a busy time for Tradeweb, the provider of electronic trading for fixed-income, derivatives, and exchange-traded funds, following a recent announcement that it would be adding an equity trading facility to its list of products. The company, which launched in 1998 as a marketplace for investors to buy and sell US Treasury bonds, will later this year launch the “eBlock” in a joint initiative with Plato Partnerships, a consortium of some of the market’s largest fund managers and banks. The eBlock will enable more efficient risk trading of European cash equity blocks – a type of transaction where significantly large groups of shares or bonds are exchanged at a set price between a buyer and seller. The reason to finally move into equities after 20 years is the result of client demand and the possible impact of the European Union’s Markets in Financial Instruments Directive (MiFID), according to Enrico Bruni, managing director for Tradeweb’s European … [Read more...] about We talk to Tradeweb about how investing has evolved over the last 20 years
Read more transcripts from Face the Nation here. MARGARET BRENNAN, HOST: It's Sunday, June 3. I'm Margaret Brennan, and this is FACE THE NATION. The meeting with Kim Jong-un in Singapore is on, and in less than 10 days, as the president welcomed a North Korean official to the White House. But the goal for the summit continues to be a question. (BEGIN VIDEO CLIP) DONALD TRUMP, PRESIDENT OF THE UNITED STATES: We have very significant sanctions on that. But we had hundreds -- we have hundreds that are ready to go. But I said I'm not going to put -- why would I do that when we're talking so nicely? (END VIDEO CLIP) BRENNAN: But things aren't so nice between U.S. and some of its closest allies. Countries, including Canada, Mexico, China, and members of the European Union, are furious about President Trump's new tariffs. Back home, it's the president's own party taking issue with his trade policies. (BEGIN VIDEO CLIP) SEN. MITCH MCCONNELL (R-KY), MAJORITY LEADER: I … [Read more...] about Full transcript: “Face the Nation” on June 3, 2018
Vikram Rangnekar grew up in Mumbai, studied computer science at the University of Delaware, and by the waning days of the Obama administration had been working in Silicon Valley for almost six years. Through his job as a software engineer at LinkedIn Corp., Rangnekar secured an H-1B, the temporary visa for high-skilled workers, and the company began the process of sponsoring his green card way back in 2012. But he had dozens of senior colleagues from India who’d been waiting a decade or more for their green cards and still didn’t have them. “Some said it’d take 20 years for my turn,” Rangnekar remembers. “Others calculated 50 years—which is basically never.” As a young man with a global sensibility and an in-demand set of skills, Rangnekar had no reason to let the uncertainty of a green card application define his family’s life. In the early fall of 2016, he, his wife, and their two young boys made the move north, to Canada.Their … [Read more...] about Engineers Are Leaving Trump’s America for the Canadian Dream
Driving change Experts think 2017 marked the beginning of an epochal shift in mobility, with classic auto-making becoming redundant in the new era of car-sharing, electric vehicles and self-driving cars. Germany's old guard is unprepared. Published on January 5, 2018 5:04 pm You could say that Bob Lutz has gasoline in his blood. For decades, the 85-year-old American worked in top positions for major automakers General Motors, Ford, Chrysler and BMW. This hard-earned experience helped to explain why his guest article in November for the American trade magazine Automotive News caused such a stir. The piece, entitled “Kiss the good times goodbye,” was nothing less than a wake-up call for the automotive industry. In his article, Mr. Lutz dared to make predictions that are likely to scare many auto executives: The last journey on American roads by a human-driven car will happen within 15 to 20 years’ time; drivers will by then be a risk that no legislator will … [Read more...] about Can carmakers survive the age of Uber?