GBP News 

Brexit: Frankfurt lobby group calls for housing boost to deal with ban

“The head of Frankfurt’s financial lobby group is appealing for further housing investments just weeks after launching a fast track work permit programme to deal with an influx of workers ahead of Brexit” writes Kalyeena Makortoff for independent.co.uk. It is now rolling out a programme that helps financial services firms “fast track” their work permit applications. Source: independent.co.uk Share This:

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GBP News 

Goldman Sachs CEO Sparks Fresh Fears Over London’s Financial Capital Status

“The CEO of Goldman Sachs has stoked fears that the banking giant could pull more staff out of London after he took a thinly-veiled shot at the UK over Brexit” writes Jasmin Gray for huffingtonpost.co.uk. In a rare tweet, banking boss Lloyd Blankfein sang the praises of Frankfurt – Germany’s financial centre – adding that he would be “spending a lot more time there”. Source: huffingtonpost.co.uk Share This:

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GBP News 

Bank boosts post-Brexit plans with Frankfurt office deal

“The bank has the option to take all the floors or sublet space” writes Jill Treanor for theguardian.com. More than 9,750 potential job moves have so far been announced.The Wall Street bank, which employs 6,000 staff in the UK, has been searching for office space in the German financial centre for the last six months as it looks to continue operations across the EU after Brexit. Source: theguardian.com Share This:

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UBS says not target of German tax evasion investigation

“ZURICH (Reuters) – Swiss bank UBS said on Thursday it was not the subject of a German investigation into suspected tax evasion following a search of its Frankfurt site a day earlier” reports businessinsider.com. No documents were seized at UBS’s offices in Wednesday’s search, which was part of a probe into suspected tax evasion by UBS clients.”The investigation of the German authorities is not related to a criminal or civil proceeding against UBS,” the bank said. In 2014, UBS paid about 300 million euros ($352 million) to settle claims by…

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BMW says car keys may be replaced by smartphone app

“The fact that customers now all carry a smartphone and the availability of a BMW app, which allows customers to unlock their vehicle, has made old-fashioned keys less relevant” reports autoblog.com. This, of course, is reminiscent of Tesla’s plans for the Model 3, in which owners can open and operate the car either with a key card from their wallet or with a smartphone app.Robertson said in an interview at the Frankfurt car show, given that customers no longer had to put the key in the ignition to make the…

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Mercedes $2.7 million hypercar will arrive in 2019 — and it’s a high-tech marvel

“On Monday, Mercedes-Benz and its AMG performance division unveiled their new Project ONE hybrid hyper car” writes Benjamin Zhang for businessinsider.com. At the same time, Project ONE provides an outlook on how AMG will define driving performance in the future.”. After dominating in the world of Formula One racing for the past three years, Mercedes-AMG is finally putting its race know-how into a true hypercar.It marks yet another pinnacle of the successful, strategic development of Mercedes-AMG towards a performance and sports car brand,” Tobias Moers, Mercedes-AMG boss, said in a…

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Markets News 

Two of the best new cars at the Frankfurt Motor Show are throwbacks to another way of life

“But neither car is an SUV, and that’s where the global market is heading, especially in the luxury realm” writes Matthew Debord for businessinsider.com. There’s obviously something of a market for this type of car, and frankly, I’m a sucker for them.Meanwhile, Bentley revealed the Continental GT, like the Portofino a two-door, but with a massive W12 engine. “When Bentley launched the original Continental GT in 2003 it established an entirely new market segment – the modern luxury grand tourer,” Bentley CEO Wolfgang Dürheimer said in Frankfurt. Source: businessinsider.com Share This:

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Frankfurt wins post-Brexit prize, to the horror of France 

“Frankfurt is sweeping aside rivals to become the dominant financial centre of the European Union after Brexit, a triumph that threatens to entrench German hegemony and profoundly upset the EU’s internal balance of power” writes Jeremy Warner for telegraph.co.uk. Germany’s top bankers told a high-level forum in Frankfurt that the city had already won the post-Brexit prize as Paris, Amsterdam, and smaller financial hubs are mostly left with crumbs, consolidating its hegemonic position as the locus of the European Central Bank and the eurozone’s monetary machinery. Source: telegraph.co.uk Share This:

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Banks shifting jobs from London post-Brexit need to act fast, German central bank official says

“Frankfurt and Dublin are emerging as the clear favorites for post-Brexit relocation among U.K.-based banks, according to a top official at Germany’s central bank” writes unknown author for cnbc.com. We have received quite a number of applications,” Andreas Dombret, an executive board member at the German Bundesbank, told CNBC on Tuesday. But there are clear winners from the exit of some jobs from London with Frankfurt and Dublin perceived to be the top destinations for institutions that wish to continue working with clients across the EU. Source: cnbc.com Share This:

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