France targeting City of London, ministers warned
Businessam Staff
July 16, 2017
France is pushing for a “hard Brexit” as it seeks to undermine the City of London, ministers have been warned. Jeremy Browne, the City’s special representatives to the EU has painted a gloomy picture of French intentions in a memorandum sent to the Government and the financial community. Mr Browne, a former Liberal Democrat MP […]
Investors attack FCA plans to pave the way for Saudi Aramco float in London
Businessam StaffJuly 14, 2017
Investors have rounded on plans unveiled by the Financial Conduct Authority (FCA) to pave the way for Saudi Aramco to float in London with an easier route on to the stock exchange. Analysts believe any listing by the oil giant would be the world’s biggest flotation, with the company valued at around $2 trillion (£1.5 […]
FCA proposes rule change to pave way for Saudi Aramco float in London
Businessam StaffJuly 13, 2017
The Financial Conduct Authority has proposed a rule change that would allow potentially the largest company in the world, Saudi Aramco, to list on the London stock exchange. The rule change would allow the oil giant to list in a proposed new category potentially with fewer transparency and reporting obligations than for companies with a […]
Germany tighter curbs on foreign takeovers sets tone on Europe’s expectation
Businessam StaffJuly 12, 2017
Germany has become the first European Union country to tighten its rules on foreign corporate takeovers, following a series of Chinese deals giving access to Western technology and expertise, Reuters the news agency reported Wednesday. The new regulations will allow the German government to block takeovers if there is a risk of critical technology being […]
VW bosses told costs of emissions saga a month before disclosure: report
Businessam StaffJuly 9, 2017
A Volkswagen manager told the then chief executive and other managers that the carmaker’s diesel emissions cheating could cost up to $18.5 billion, almost a month before investors were informed, German newspaper Bild am Sonntag reported. Investors were told about VW’s systematic emissions test cheating using illegal software on Sept. 18 2015, when the U.S. […]
Deadline looming for firms to give Brexit strategies to Bank
Businessam StaffJuly 9, 2017
Hundreds of banks, insurers, fund managers and other major City firms have until Friday 14 July to tell the Bank of England how they intend to cope with a hard Brexit. The order from the Bank was issued in April and has forced the financial industry to spell out plans that would allow them to […]
France steps up effort to woo London banks planning Brexit move
Businessam StaffJuly 8, 2017
Government aims to make Paris more attractive with lower taxes, lighter regulation and new international schools France has stepped up its seduction of banks and other financial institutions considering a move out of London due to Brexit, as the government unveiled a raft of proposals aimed at making Paris more appealing. A document presented by […]
France pressures car manufacturers with plans to ban petrol, diesel vehicles by 2040
Businessam StaffJuly 7, 2017
Nicolas Hulot, France’s environment minister has announced a plan to ban all petrol and diesel vehicles in the country by 2040, 23 years away, as part of a series of measures of newly elected President Emmanuel Macron to make the country carbon neutral by 2050. Hulot said he recognised the target would put pressure on […]
EU charges Merck KGaA, GE, Canon over merger rules
Businessam StaffJuly 6, 2017
General Electric (GE.N), German drugmaker Merck KGaA (MRCG.DE), and Japan’s Canon (7751.T) risk hefty fines after EU antitrust regulators accused them of providing misleading information during separate merger deals. The European Commission said on Thursday that it had sent three separate charge sheets known as statements of objections to General Electric, Merck KGaA and Canon […]
Ominous signs from British firms, but euro zone loses momentum too
Businessam StaffJuly 6, 2017
British companies are giving ominous signs about the economy, just as the government embarks on European Union divorce negotiations, data showed on Wednesday, although momentum in the euro zone has lost some momentum. A survey published on Wednesday suggested Britain’s economy probably expanded at a quarterly pace of 0.4 percent in April-June. But its business […]