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Institutional Investors (June 11)

2018/ 06/ 13 by jd in Global News

“When the U.K. secedes from the EU, it will abandon 70 years of globalization. It will turn away from a world order that increasingly relies on supranational institutions to check the power of extremely wealthy individuals and corporations like Apple and Facebook, with market capitalizations far bigger than the GDPs of most nations.” The potential consequences of Brexit leave many in the City of London feeling threatened, but there is “a coterie of hard-right, wealthy businessmen” who are delighted about “rolling back globalization to protect their positions of power — all in the name of populism.”

 

Financial Times (January 24)

2018/ 01/ 27 by jd in Global News

Undercover reporting by the Financial Times revealed “groping and sexual harassment” at a secretive black-tie event that “has been a mainstay of London’s social calendar for 33 years.” Thursday’s event, attended by 360 men “from British business, politics and finance” with entertainment provided by 130 female hostesses, however, will be the last. The expose unleashed a deluge of criticism and The Presidents Club is disbanding.

 

Reuters (January 15)

2018/ 01/ 16 by jd in Global News

“London’s once red-hot housing market has slowed for the past year due to a double hit from higher purchase taxes on expensive homes and the June 2016 Brexit vote, which hurt demand from foreign buyers and raised fears of big job losses in the capital’s financial industry.” The average asking price dropped 3.5%, year on year, to approximately 601,000 pounds.

 

Chicago Tribune (November 1)

2017/ 11/ 02 by jd in Global News

“So the pattern established oceans away now visits America,” specifically New York, where “terror by the ton” disrupted what should have been a delightful Halloween. “We don’t know if this suspect was heeding an Islamic State call to attack trick-or-treaters on Halloween. Or if only his own twisted thinking drove him,” but we have “seen enough of these car and truck attacks—in London, Nice, Stockholm, Berlin—to know they are all but impossible to predict or prevent.”

 

Reuters (July 27)

2017/ 07/ 28 by jd in Global News

“British-based investment firms’ long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit.” Newly issued EU guidance suggests regulators will crack down on “delegation” with the aim of preventing investment firms from “setting up ‘empty shell’ subsidiaries in an EU country, to allow them to continue serving European clients, but leaving the bulk of their management staff and operations in London.”

 

Sydney Morning Herald (July 13)

2017/ 07/ 15 by jd in Global News

“The Grenfell tower fire in London has opened the eyes of the world to the dangers of building with materials that do not conform to safety standards.” But this comes three years after Australia’s “own wake-up call…when fire ripped through Melbourne’s Lacrosse building.” Since then “all the solutions to the problem have been presented by expert bodies to the Senate inquiry,” yet not enough has been done. An “audit of apartment buildings undertaken by the Victorian Building Authority has shown that half contained non-compliant materials.” It is “time for governments to advance from talking and thinking to actually doing something.”

 

Chicago Tribune (June 5)

2017/ 06/ 07 by jd in Global News

“The stoic determination and decency of the British people and their leaders was on full display in the hours after the latest horrific terrorist rampage.” In contrast, President Trump “acted like a clod, a heartless and dull-witted thug in sending out a series of tweets” on the London attacks. “One is prompted to ask if he is off his rocker. But this is vintage Trump — impulsive and cruel, without an ounce of class or human decency.” With his tweets, Trump has embarrassed “himself—and America—once again.”

 

Newsweek (February 8)

2017/ 02/ 09 by jd in Global News

“A hard “Brexit could threaten 30,000 jobs in London’s world-class finance sector,” according to a recent report, if the firms “lose their ‘passport’ to operate across the EU.” Of course, nobody will really know until Brexit transpires, but the same study suggests “17 percent of all U.K. banking assets might be on the move as a result of Brexit” and the U.K.’s share of the European financial services market could contract from the current 90% to around 60%.

 

New York Times (September 20)

2016/ 09/ 22 by jd in Global News

Days after the Chelsea bombing, with an eye to this week’s UN meeting, the mayors of three great cities (Bill de Blasio of New York, Anne Hidalgo of Paris and Sadiq Khan of London) write, “We know policies that embrace diversity and promote inclusion are successful. We call on world leaders to adopt a similar welcoming and collaborative spirit on behalf of the refugees all over the world during the summit meeting this week. Our cities stand united in the call for inclusivity. It is part of who we are as citizens of diverse and thriving cities.”

 

Washington Post (April 22)

2016/ 04/ 23 by jd in Global News

During his visit to London, President Obama has been somewhat controversially urging the British to remain in the EU. “British leadership in the world is very much at stake. And because it really is a matter of profound, bipartisan, long-term U.S. interest that Britain remain a European power and thus a world power, Obama is right to take the risk and say so.”

 

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