UK financial firms are reportedly looking to relocate to Dublin following the Brexit vote with the Irish central bank reporting a sharp increase in the number of inquiries from UK-based firms. Other European cities including Frankfurt and Paris are also trying to grab UK firms which are worried about losing passporting rights which grants them the right to operate across the continent. Earlier Share Radio's Robert Van Egghen spoke to Barnabas Reynolds, head of the global financial institutions advisory & financial regulatory group at law firm Shearman & Sterling. In a new report Reynolds argues that there are other models for UK firms to follow, which offer advantages that passporting does not have.
Paul Sedgwick, Barnabas Reynolds, Robert Van Egghen
Net migration to the UK has recently hit the second highest level on record with many migrants coming from within the EU, this has raised questions about the governments policy after article 50 is triggered. Sara Macham discussed migration to the UK with Eros Rrodhe, senior consultant at Migrate UK
Welcome to the This is Money and Share Radio podcast, brought to you in partnership with NS&I. It’s been quite a stressful week both real and imagined. The UK banking system was put through its paces in the Bank of England’s stress test which simulated a range of disaster scenarios from crashing house prices to rising unemployment. The biggest failure proved to be the majority tax payer owned RBS, whilst it was ‘must try harder’ for Barclays and Standard Chartered. Unfortunately not all this week’s stresses have been virtual though and rising fuel prices contributed to the collapse of GB Energy affecting 160,000 customers. When it comes to finding a new supplier there’s certainly plenty of choice at least as more and more smaller firms spring up- so just what is going on with Britain’s energy market? Georgie Frost is joined by Editor Simon Lambert and Consumer Affairs Editor Lee Boyce to find out. Also this week they look at the scams tricking people out of personal data and gig tickets as well as the meaty issue of what else is in the new plastic fiver. This is Money is presented by Georgie Frost in partnership with NS&I.
On Sunday, Italy holds a referendum. Prime Minister Matteo Renzi wants the power to streamline the country's creaking political system, reducing the power of upper house senators from blocking what he sees as essential economic reforms. But many are predicting he will lose. The worry for the markets is that a large protest vote could give the populist Five Star movement enough momentum to put Italy on a slippery slope to leave the Euro currency zone, plunging Europe into a fresh political and financial crisis. Dijedon 'Doni' Imeri is a country risk analyst for IHS Markit and he joined Share Radio Breakfast.
The Environmental Industries Commission Annual Conference is being held in London. Its remit explores how environmental industries in the UK will deal with the potential fallout from Brexit. How will so called green companies cope if current environmental regulation is loosened once we come out of the EU? James Brydges spoke to James Murray, Editor in Chief of Business Green, who'll be speaking at the event. He asked how things would pan out for green businesses over the next few years.
On Sunday, Italian voters will go to the polls in a referendum on whether to curb the powers of the senate. The polls suggest Prime Minister Matteo Renzi, who has promised to resign in the case of a No Vote, is on course to lose. As Italy's fragile banking sector struggles to stay afloat, a change of government, which could see the populist anti-EU Five Star Movement elected, will have severe repercussions for the Italian economy and the Eurozone. Robert Van Egghen reports.
Welcome to the This is Money and Share Radio podcast, presented in partnership with NS&I. This week of course the top financial story was Philip Hammond’s first, and indeed last, Autumn Statement. Just what state are the country’s post-Brexit finances in, and crucially what would the Chancellor offer to help his much referenced ‘Jams’? In the end those ‘just about managing’ certainly received a few headline policies but with predictions pointing towards low growth, high borrowing and high inflation many argue Jam spending has been spread too thin. There were also some losers with those enjoying salary sacrifice perks and letting agents coming into the crosshairs, as well as in fact the Autumn Statement itself which will now be scrapped. So what will all this mean for the pound in your pocket? Georgie Frost joins editor Simon Lambert and reporter Becky Rutt to answer just that. Also on the agenda this week they discuss Black Friday and for a slightly different purchase the opportunity to buy a road legal Formula 1 car. This is Money is presented by Georgie Frost in partnership with NS&I.
Tom Floyd, Senior Sales Trader at corporate forex broker Foenix Partners, joined Share Radio to look ahead to the Autumn Statement. He talks US Federal Reserve's Chair Janet Yellen indication that interest rates could rise "relatively soon", whilst also looking ahead to the Italian Constitutional referendum and Europe's elections.
Welcome to the This is Money and Share Radio podcast, presented in partnership with NS&I. Last week we brought you the shock news of Donald Trump’s poll defying victory in the US Presidential Election. One week later how has the world responded and what can we expect looking forwards? Despite fears of Trumpageddon the markets rallied delivering many investors with a surprising Trump bump. Many are now questioning what a Trump presidency will mean for post-Brexit Britain but a clue of financial news to come is on hand next week when the Chancellor will deliver his Autumn Statement. Philip Hammond has promised measures to help the so-called “Jams”- those just about managing- but is he likely to deliver or will he find resources spread too thin? Editor Simon Lambert and personal finance editor Rachel Rickard Straus join Georgie Frost to look through the latest financial figures and see just what the Chancellor is up against. Also on this week’s show they look at the pressures on young people and first time buyers from the housing crisis as well as the cost of coffee and the latest collectable car purchase on offer. This is Money is presented by Georgie Frost in partnership with NS&I.
Scotland could attempt a Norway-like model of EU membership. The idea emerged in a leaked memo, where it seems the Scottish government is considering European Economic Area membership as a possible way to maintain links with the block. To find out if this could be a viable way for Scotland to remain in the EU, Matt Cox spoke to Share Radio's Scotland correspondent Maurice Smith.
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