• World stocks gain on hopes for Brexit progress

    18 days ago - By Chron

    SINGAPORE - World markets were mostly higher Thursday following a report that British Prime Minister Theresa May has secured a deal with the European Union on financial services, as the country's exit from the bloc looms.
    KEEPING SCORE: Germany's DAX rose 0.6 percent to 11,521 and France's CAC 40 was 0.1 percent higher at 5,098. Britain's FTSE 100 was 0.2 percent higher at 7,139. Wall Street was set for an optimistic open. Dow and S&P 500 futures both rose 0.4 percent.
    ASIA'S DAY: Hong Kong's Hang Seng gained 1.8 percent to 25,416.00 while the Kospi in South Korea was 0.3 percent lower at...
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  • City of London breathes sigh of relief on Brexit deal to secure financial crown

    18 days ago - By Chron

    REUTERS/Ralph Orlowski
    UK and EU have agreed on a "tentative" deal for financial services, securing the post-Brexit future of the City of London, The Times reports.
    The deal is set to be based on the principle of equivalence.
    Equivalence is a framework whereby the EU acknowledges that the legal, regulatory, and supervisory regime of a non-EU country is as good as its own.
    Pound jumps more than 1% on news of the agreement.
    UK and EU negotiators have secured a deal on the future relationship for financial services firms operating in the two jurisdictions after Brexit, The Times newspaper...
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  • The U.K. and EU Have Reportedly Reached a Brexit Deal on Financial Services

    18 days ago - By Fortune

    The U.K. and European Union have reached a preliminary agreement to allow financial services companies to access the bloc after Brexit, The Times of London reported, as the two sides edge toward a broader divorce deal.
    The agreement is based on equivalence - the tool that the EU already uses to give non-EU banks access to its market. That's what the EU has long offered the U.K., and the U.K. has long said it's not good enough. It falls far short of the status quo - which the U.K. hasn't even been fighting to maintain.
    But The Times says the agreement includes some new features that would...
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