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Brexiteers meet realty...l
(11-22-2017, 08:53 AM)Protheroe Wrote:
(11-22-2017, 07:21 AM)Pneumann Wrote: With Goldman Sachs going

They're not. What on Earth would make you think that they are?

Their CEO touring Europe to set up a satellite office in order to satisfy the EU's regulatory requirements for trades that will be mirrored in London does not a relocation make.

There are 500,000 finance jobs in the Square Mile alone. Frankfurt, the pretender to London's crown, has a total population of 718,000.
They are relocating jobs, creating EUROHUBS which, for obvious reasons, won't be in london. in relative terms there will be fewer GS jobs in London, if we take Blankfein's inference.

http://www.lefigaro.fr/societes/2017/11/...t-vite.php
https://www.theguardian.com/politics/201...rexit-hubs

Competition for rehousing EMA was hot, with at least a handful of cities wanting the direct and indirect jobs and influence that agency brought.
GDP is diverging from the EUROZONE norm (weakening). Failing some form of angeldust, IDI will probably fall dramatically, reducing future economic potential.
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(11-22-2017, 10:26 AM)Pneumann Wrote:
(11-22-2017, 08:53 AM)Protheroe Wrote:
(11-22-2017, 07:21 AM)Pneumann Wrote: With Goldman Sachs going

They're not. What on Earth would make you think that they are?

Their CEO touring Europe to set up a satellite office in order to satisfy the EU's regulatory requirements for trades that will be mirrored in London does not a relocation make.

There are 500,000 finance jobs in the Square Mile alone. Frankfurt, the pretender to London's crown, has a total population of 718,000.
They are relocating jobs, creating EUROHUBS which, for obvious reasons, won't be in london. in relative terms there will be fewer GS jobs in London, if we take Blankfein's inference.

http://www.lefigaro.fr/societes/2017/11/...t-vite.php
https://www.theguardian.com/politics/201...rexit-hubs

Competition for rehousing EMA was hot, with at least a handful of cities wanting the direct and indirect jobs and influence that agency brought.
GDP is diverging from the EUROZONE norm (weakening). Failing some form of angeldust, IDI will probably fall dramatically, reducing future economic potential.

They are relocating "Tens" of jobs for regulatory reasons - the "work" will still be carried out in London. Meanwhile 300,000 jobs have been created in the UK since the Referendum and FDI is at its highest since 2005. Interestingly, European banks are still investing here along with Michael Bloomberg, every significant tech firm and fintech firm. I know these facts don't further your agenda, but London will remain the Global centre for finance for many many decades after we leave the EU.
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(11-22-2017, 12:14 PM)Protheroe Wrote:
(11-22-2017, 10:26 AM)Pneumann Wrote:
(11-22-2017, 08:53 AM)Protheroe Wrote:
(11-22-2017, 07:21 AM)Pneumann Wrote: With Goldman Sachs going

They're not. What on Earth would make you think that they are?

Their CEO touring Europe to set up a satellite office in order to satisfy the EU's regulatory requirements for trades that will be mirrored in London does not a relocation make.

There are 500,000 finance jobs in the Square Mile alone. Frankfurt, the pretender to London's crown, has a total population of 718,000.
They are relocating jobs, creating EUROHUBS which, for obvious reasons, won't be in london. in relative terms there will be fewer GS jobs in London, if we take Blankfein's inference.

http://www.lefigaro.fr/societes/2017/11/...t-vite.php
https://www.theguardian.com/politics/201...rexit-hubs

Competition for rehousing EMA was hot, with at least a handful of cities wanting the direct and indirect jobs and influence that agency brought.
GDP is diverging from the EUROZONE norm (weakening). Failing some form of angeldust, IDI will probably fall dramatically, reducing future economic potential.

They are relocating "Tens" of jobs for regulatory reasons - the "work" will still be carried out in London. Meanwhile 300,000 jobs have been created in the UK since the Referendum and FDI is at its highest since 2005. Interestingly, European banks are still investing here along with Michael Bloomberg, every significant tech firm and fintech firm. I know these facts don't further your agenda, but London will remain the Global centre for finance for many many decades after we leave the EU.
No agenda; Brexit is close on Pulexit. it was perhaps necessary, but will possibly result in relegation. That London will remain the global center for finance isn't fact but conjecture. Take the kings off a chessboard and the other pieces will follow.
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(11-22-2017, 01:27 PM)Pneumann Wrote: That London will remain the global center for finance isn't fact but conjecture.

No serious commentator on the Remain side has suggested that London won't remain the world's leading financial centre.

If that's your measure of conjecture, then let me give you some more. Albion are unlikely to win the Champions League, ever.
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Nice to see the budget had some very positive growth estimates for both GDP and productivity.
Last one can turn the lights out.
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(11-22-2017, 12:14 PM)Protheroe Wrote: They are relocating "Tens" of jobs for regulatory reasons - the "work" will still be carried out in London. Meanwhile 300,000 jobs have been created in the UK since the Referendum and FDI is at its highest since 2005. Interestingly, European banks are still investing here along with Michael Bloomberg, every significant tech firm and fintech firm. I know these facts don't further your agenda, but London will remain the Global centre for finance for many many decades after we leave the EU.

The fact that Bloomberg sees a way of making money from the post-Brexit UK doesn't automatically mean he thinks it was a good idea, or decision. He's a smart operator and will likely gain where others lose.

His recent quote, that Brexit is "the single stupidest thing any country has ever done, apart from the election of Donald Trump" isn't indicative of somebody planning to stick around for the long haul.
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That'll be the same Bloomberg who's just opened his £1bn "European HQ" in London with 4,000 staff.

I prefer to judge people on their actions rather than their words.
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(11-23-2017, 08:00 AM)Protheroe Wrote: That'll be the same Bloomberg who's just opened his £1bn "European HQ" in London with 4,000 staff.

I prefer to judge people on their actions rather than their words.

They started building that in 2010. You would't expect him to plan then that we would actually vote to leave would you?
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(11-23-2017, 08:58 AM)Zoltanger Wrote: They started building that in 2010. You would't expect him to plan then that we would actually vote to leave would you?

No. Because, as he himself says, Brexit or no Brexit London is a global financial leader without a peer in mainland Europe.

Speaking of actions, I was with a Eurozone domiciled client in London today who are onto their fourth UK acquisition in little over a year. No fear, no concern about non-existent cliff edges. Just cold hard FDI into the UK. They'll be turning over £100 million next year.
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http://uk.businessinsider.com/the-econom...?r=US&IR=T

Oh dear, fuckin unpatriotic remoaners
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