Citigroup to invest in London, hire staff despite Brexit: FT
Wall Street bank Citigroup Inc (C.N) will set up an innovation centre in London in one of the first investments by a big U.S. bank since Brexit, the Financial Times reported on Sunday.
Citi will initially hire 60 technologists for the centre, James Cowles, chief executive Officer for Europe, the Middle East and Africa (EMEA), told the FT.
The company could not be immediately reached for comment.
The centre in London will also house the EMEA unit of Citi ventures and employees from across the company's businesses, in a boost for UK's financial services sector ahead of Brexit, the FT reported. (on.ft.com/2BREJUO)
European Commission officials rejected the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a major blow to Britain’s hopes of keeping full access to EU markets for one of the world’s top two financial centres.
Britain is currently home to the world’s largest number of banks and hosts the largest commercial insurance market. About 6 trillion euros ($7.35 trillion), or 37 percent, of Europe’s financial assets are managed in the UK capital, almost twice the amount of its nearest rival, Paris.
JPMorgan Chase & Co (JPM.N) said earlier this month that it could move more than 4,000 jobs out of Britain if Brexit talks result in a divergence of regulations and trade agreements between Britain and the European Union.
In the short term the bank will move between 500 and 1,000 jobs after Britain’s formal exit from the EU, scheduled for March 29, 2019.
About 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if it is denied access to Europe’s single market, a Reuters survey in September found.
Barely two weeks since launch, BSNL's internet telephony service 'Wings' has received over 4,000 bookings for the new offering that will allow users to dial any phone number in India through a mobile app, starting this week, its Chairman said today.
The National Green Tribunal has directed the Haryana government to restore 123 water bodies in Gurugram and Faridabad districts and assign each one of them a unique identification number within three months.
The government today set up a Group of Ministers (GoM) under Home Minister Rajnath Singh and a panel headed by the Home Secretary to deal with the growing number of lynching incidents.
Senior Congress leader Digvijay Singh today criticised Maharashtra Chief Minister Devendra Fadanvis for cancelling his visit to Pandharpur on the occasion of 'Ashadhi Ekadashi' in view of a proposed protest by Maratha groups demanding reservation.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.