Global CEOs downsize physical office spaces, accelerate move towards digital workspace: KPMG survey

According to the results of a survey released on Tuesday, companies across the glove are moving their operations online so as to cut expenses related to office space and make recruiting and retaining staff part of their top priorities. The survey by accounting firm KPMG showed, 80% of business leaders had accelerated their digital expansion…

Car production in Britain will take significant hit if Brexit leads to tariffs with EU: Society of Motor Manufacturers and Traders

A British trade body has warned that the country’s annual car production is likely to drop by a third to 1 million by 2024 if Brexit leads to tariffs with the European Union; the output will be lost to other nations. Britons are staring at an elections in just over two weeks with Prime Minister…

London-based banks made reasonable progress on their relocation to the Eurozone

This conclusion was made by Sabine Lautenschlaeger, director at the European Central Bank, to an audience in Sydney. On Wednesday, Sabine Lautenschlaeger, European Central Bank director stated, the majority of London-based banks relocating to the Eurozone due to Brexit, have made “reasonable progress” in preparing the move. “We have urged and pushed them (banks) to…

London still maintain sizeable leads as top destination for fintech funding

Although London is still maintaining a sizeable lead, Paris and Berlin are fast catching up. The gap could narrow down significantly in case of a cliffhanger Brexit. Data from PitchBook, a funding database, shows that despite Brexit, London has managed to cling on to the title of the top destination for technology investments in 2018…

Bank of America completes its shifting from London to Dublin

With Dublin as its new European headquarters, Bank of America will operate through its branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich. On Monday, Bank of America stated, having received the necessary court and regulatory approvals, it has completed the shifting of its market and banking operation from London to Dublin. The…

Britain’s automotive industry requires more clarity on post-Brexit scenario for growth

According to the CEO of Society of Motor Manufacturers and Traders (SMMT), Britain’s biggest car manufacturing lobby, “There is growing frustration in global boardrooms at the slow pace of negotiations”. On Tuesday, Britain’s biggest car manufacturing lobby, the Society of Motor Manufacturers and Traders (SMMT), stated the lack of clarity over Brexit has diminished new…

A survey by the Confederation of British Industry paints a rosy picture of the country’s services sector

The results of the survey is in sharp contrast to official data released by Britain. On Monday, in sharp contrast to downbeat official data released last weak by Britain, the country’s services sector reported its first rise in profits in more than two years. According to the Confederation of British Industry, the volumes and the…

U.S. payment firm, Stripe, places its first engineering center in Dublin

Dublin’s tech-enabled talent pool, tax incentives, and international outlook are a major draw for global firms. On Monday, Stripe, a U.S. payments firm, disclosed it would place its first engineering center in Dublin. The placement marks its first center outside its home market and underscores its strategy of wanting to tap Ireland’s growing tech-enabled workforce.…