According to data from EY, the UK acquired 99 investment projects in financial services in 2019. However, in 2020, just 49 were acquired, a significant drop that puts the country only 14% ahead of France. The latest EY UK Attractiveness Survey for Financial Services found that foreign investment fell by 23% across Europe in 2020,
There has been a real drive towards ‘frictionless’ banking in Western countries, giving rise to the question: why aren’t cross-border payments equally frictionless? Especially for those in emerging markets, who have everything to lose and much to contribute. Read More
2021 is expected to be a year of change, with businesses around the world optimistic that the months ahead will be brighter than what 2020 dealt us. Many of the micro trends that companies thought would be temporary measures throughout the pandemic have become macro trends that are here to stay. These are a few
Members of trade bodies, academia, and NGOs will make up the task force, known as the Green Technical Advisory Group (GTAG). The GTAF will be responsible for overseeing the government’s delivery of a “Green Taxonomy”. This common framework will offer comprehensible standards that lay out when a financial product or investment can be classed as
A statement made on Thursday announced that the Swiss National Bank and the Banque De France will look into the feasibility of a cross-national arrangement of two wholesale central bank digital currencies (CBDCs) on blockchain. The SNB has enlisted a private sector consortium (including R3, UBS, and Credit Suisse) which will be led by Accenture.
After a supermajority vote, in which Bitcoin Law received 62 out of 84 of the legislature’s vote, the digital currency will become legal tender in El Salvador. The Republic of El Salvador is the first country in the world to adopt bitcoin as legal tender, with the price of bitcoin up by 5% soon after
SPACs are very much a child of this age of fervid expectation, which was founded in how quickly the adoption of new tech is going to change the world. Everything from space tugs to hydrogen cars was apparently possible – whatever the realities of profits and costs suggested. Just a few months ago SPACs were
The UK Patent Box scheme is set to become an even more valuable tax benefit in the near future. With Chancellor Rishi Sunak’s announcement of higher corporate tax rates from 2023, larger and more profitable companies in the UK will be able to enjoy even greater savings on profits qualifying for Patent Box relief. Currently,
When you’re applying for a mortgage, auto loan, personal loan, or any other loan, you want to get the best outcome. However, your loan application may not go well all the time. It’s because lenders consider a range of factors to ensure that they are extending the loan responsibly. If you don’t know what your
In any M&A sales process, the seller’s counsel will negotiate a non-disclosure agreement (NDA) with potential buyers and their legal counsel. The one-way NDA that each buyer executes protects the seller’s confidential information. There could be 30, 40, 50 or more potential buyers in a highly competitive M&A sales process, which means an NDA for
UBS reported on Tuesday a net income of $1.8 billion for the first quarter, revealing that it had taken a considerable hit to earnings from the collapse of Archegos Capital Management. The Swiss bank said that it had taken a $774 million hit to revenue as a result of Archegos’s default earlier in the quarter.
The UK economy is predicted to grow at the fastest rate since the second world war this year, according to a widely cited economic forecaster. The EY Item Club has upgraded its forecast for GDP growth during 2021 from 5% to 6.8%, which would mark the fastest annual growth since 1941. This comes in the
