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Europe Top News and Analysis Ireland

  • LONDON, July 21- British finance minister Philip Hammond told the board of U.S. investment bank Goldman Sachs that he was pushing for a lengthy transition period after Britain leaves the European Union, a source familiar with the talks said. The source said Hammond made a presentation to the Goldman Sachs board on June 29 when chief executive Lloyd Blankfein was...

  • LONDON— Bank of America has chosen Dublin as its European Union base once Britain leaves the bloc, its CEO said Friday. Bank of America has about 4,500 staff in London. So far, several major banks have opted for Dublin and Frankfurt, Germany, to be ready to service clients across Europe, no matter what outcome the Brexit talks yield.

  • LONDON/ DUBLIN, July 21- Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc. Frankfurt and Dublin are emerging as early winners for banks' post-Brexit operations. Wall Street's Citigroup Inc. and Morgan Stanley have both picked Frankfurt as bases for...

  • LONDON, July 21- Bank of America has become the first Wall Street bank to pick Dublin to be its new base for its European Union operations as Britain prepares to leave the bloc, the firm said in a statement on Friday. International banks are planning to set up subsidiaries in the EU to ensure they can continue to serve clients if their London operations lose the...

  • July 21- Endo International Plc said on Friday it would shutter its manufacturing and distribution facilities in Huntsville, Alabama, resulting in a workforce reduction of about 18 percent. The drugmaker, which employed 4,894 people as of Feb. 21, said it would layoff 875 employees and incur a pretax charge of about $325 million. Earlier in July, Endo agreed to...

  • LONDON/ FRANKFURT, July 20- Two global banks, Citigroup and Deutsche Bank, are beefing up their presence in Frankfurt to deal with the impact of Britain leaving the European Union. Deutsche Bank Chief Executive Officer John Cryan said in a video published on Thursday that the German lender expected to add new jobs in Frankfurt, where it will replicate a structure...

  • LONDON, July 20- U.S. bank Citigroup said on Thursday that it may need to create 150 new jobs in the European Union to deal with the impact of Britain leaving the bloc, as it confirmed it would headquarter its EU trading operations in Frankfurt. Citi is one of several banks opting to build up a subsidiary in Frankfurt so that its trading operations in the EU can...

  • LONDON, July 20- U.S. bank Citigroup said on Thursday that it may need to create 150 new jobs in the European Union to deal with the impact of Britain leaving the bloc, as it confirmed it would headquarter its EU trading operations in Frankfurt. In a memo to staff Jim Cowles, the bank's head of Europe, Middle East and Africa, said the bank also planned to build up its...

  • *Paris, other cities competing for post-Brexit fintech crown. *French fintech sector raised $68 mln in 2016, London $783 mln. But startups based in London do not yet seem ready to swap that key hub for Paris, even if they have French roots.

  • FRANKFURT/ LONDON, July 19- Morgan Stanley has chosen Frankfurt to be a new base for its European Union operations as Britain prepares to leave the bloc, according to a source familiar with the matter, becoming the latest U.S. bank to pick the German city. Morgan Stanley is planning to use its Frankfurt subsidiary as the centre for its EU trading operations,...

  • FRANKFURT/ LONDON, July 19- Morgan Stanley has chosen Frankfurt to be the new base for its European Union operations as Britain prepares to leave the bloc, according to a source familiar with the matter, becoming the latest U.S. bank to pick the German city. The source said Morgan Stanley's decision meant about 200 new jobs would move to the bank's Frankfurt offices.

  • LONDON, July 19- Asset management company Northern Trust will set up a European Union banking base in Luxembourg following Britain's decision last year to leave the bloc, the body promoting the Grand Duchy as a financial centre said on Wednesday. "Continental Europe is a strategic area of focus for Northern Trust and the creation of our EU banking presence in...

  • LONDON, July 19- Asset management company Northern Trust will set up a European Union banking base in Luxembourg following Britain's decision last year to leave the bloc, the body promoting the Grand Duchy as a financial centre said on Wednesday. "Continental Europe is a strategic area of focus for Northern Trust and the creation of our EU banking presence in...

  • *Secondary trading decisions can't be outsourced to London. LONDON, July 13- Regulators should prevent investment firms from setting up shop in one jurisdiction to avoid stricter controls in their home state, the European Union's markets watchdog said, as centres such as Dublin, Frankfurt and Paris vie for business. EU authorities are concerned about a "race to...

  • *Secondary trading decisions can't be outsourced to London. LONDON, July 13- Regulators should prevent investment firms from setting up shop in one jurisdiction to avoid stricter controls in their home state, the European Union's markets watchdog said, as centers such as Dublin, Frankfurt and Paris vie for business. EU authorities are concerned about a "race to...

  • July 11- Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country's planned exit from the European Union. Financial services firms need a regulated subsidiary in an EU country to offer products across the bloc which could prompt some to move jobs out of Britain if it loses access to the European single market.

  • President Donald J. Trump (R) and Secretary of Treasury Steven Mnuchin (L) walk out of the Treasury Department after a financial services Executive Order signing ceremon on April 21, 2017 in Washington, DC.

    The Treasury Department is considering rewriting an Obama-era regulation dealing with earnings stripping.

  • AIX-EN-PROVENCE, France, July 9- A government push to make France more "finance-friendly" is raising Paris' chances of attracting Brexit-fleeing banks from London although it is raising its game at a late stage in the process, a group of senior financial industry executives said. Eager to keep Frankfurt from getting the bulk of jobs that leave London, Prime...

  • *Qatar Airways cancels four A350-900 jets due to delays. PARIS, July 6- Qatar Airways has axed orders for four A350s because of delivery delays, Airbus said on Thursday, handing the European planemaker a new headache over what to do with jets worth $1.2 billion at list prices as it tries to close a sales gap with rival Boeing. Qatar Airways Chief Executive Akbar Al...

  • PARIS, July 6- Qatar Airways has axed orders for four A350s because of delivery delays, Airbus said on Thursday, handing the European planemaker a new headache over what to do with jets worth $1.2 billion at list prices as it tries to close a sales gap with rival Boeing. Qatar Airways Chief Executive Akbar Al Baker said earlier any delays were the planemaker's...