The UK government must consult parliament before it is able to proceed with formal negotiations over its withdrawal from the European Union, the High Court has ruled this morning. The ruling, brought about by a group of individuals, who challenged the legal right of the UK government, as reported, to take the formal steps to […]
UK members of the regulator of Europe’s financial system could have a potential “conflict of interest” because of their wish to preserve the status of the City of London as the region’s leading financial centre after Brexit, according to one of its senior board members. Gérard Rameix, who sits on the board of the European […]
Sumi Trust Global Asset Services, which includes SMT Trustees (Ireland) Ltd, has issued a bulletin warning clients and potential clients about the looming deadline for putting in place suitable fund administration to handle the requirements of Ucits V regulations. EU member states have until 16 March to transpose the relevant Directive into national law. In […]
The eurozone seasonally-adjusted unemployment rate was 10.7% in October 2015, down from 10.8% in September 2015, and from 11.5% in October 2014. This is the lowest rate recorded in the euro area since January 2012, Eurostat has revealed. The EU28 unemployment rate was 9.3% in October 2015, stable compared to September 2015, and down from 10.1% […]
The eurozone annual inflation was 0.3% in November 2014, down from 0.4% in October. A year earlier the rate was 0.9%, according to the latest data from Eurostat, the statistical office of the European Union. Negative annual rates were observed in Bulgaria (-1.9%), Greece (-1.2%), Spain (-0.5%) and Poland (-0.3%). The highest annual rates in […]
The European Commission has announced a reduction of its previously estimated growth forecasts for the coming years due to the persistence of low inflation and the weakness of recovery. The Commission expects real GDP growth in 2014 to reach 1.3% in the EU and 0,8% in the Euro area, as opposed to 1.5% and 1.2% […]
Senior Credit Analyst at Hermes Investment Management Filippo Alloatti Third quarter recap Headline profit before tax of £1.59bn, was ahead of consensus expectations of £1.2bn. Core revenues are in line, with the investment bank is down quarter-on-quarter and year-on-year, but in line with consensus. Non-core losses are a bit lower. It seems it may outperform […]
Schroders’ European Economist, Azad Zangana, comments on today’s results of the Scottish referendum and the decision from Scotland to stay within the United Kingdom: “After months of intense campaigning, great uncertainty and volatility in markets, Scotland has voted not to leave the United Kingdom. With an enormous projected turnout of 84.5%, the projected results of 55.4% […]
Azad Zangana, European economist, comments on today’s eurozone GDP figures: “Official estimates show the eurozone stagnated in the second quarter of the year following poor performance in core Europe, disappointing City expectations. The poor results mean that this has been the worst quarter for the monetary union since the first quarter of 2013 and raises questions […]
Eurozone’s seasonally adjusted industrial production fell by 0.3% in June compared with the previous month, according to Eurostat, the EU’s statistical office. However, looking at the same period of 2013, industrial production remained stable in the eurozone and rose by 0.7% in the EU28 area. According to Eurostat, the monthly drop in industrial production was […]
The departure of President Viktor Yanukovich from office is good news for Ukraine as it paves the way for a political resolution, says UBP’s Zsolt Papp.
The AFG, the French fund association, has issued a strong statement describing the “devastating consequences” of the proposed Europe-wide Financial Transaction Tax (FTT) on the local asset management sector.