New York Eu city London economy New York Eu city London

Who wins from Brexit? New York

Reading now: 464
www.livemint.com

Also Read | Covid curve slumping across IndiaThis doesn’t depend on the trade deal currently under negotiation.

Hopes of a positive outcome have buoyed sterling this week, and an agreement is crucial for goods industries with complex supply chains, such as autos and food.

But a deal that preserves anything like the status quo in financial services isn’t on the table.That means U.K.-based financial institutions will lose their “passports" to transact freely in the EU on Dec.

31, while EU companies won’t be able to deal as freely in London. The change will fragment liquidity and add cost and complexity for all manner of operations that in recent decades have settled in London.Among the few beneficiaries will likely be U.S.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA