The WTO Tuesday downshifted its global trade forecast, warning that anti-globalisation rhetoric and Brexit were pushing trade growth to its slowest pace since the financial crisis. The WTO said global trade was now estimated to expand by just 1.7 percent this year, compared to its April projection of 2.8 percent. Source: AFP/Yahoo
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Some senior regulators are privately raising doubts over whether politically unpopular European rules seeking to shield taxpayers from bank bailouts will ever be enforced as intended. Some of the people who will have to apply them are now questioning in private whether they will be used. Source Reuters
US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganization that will reduce its City headcount by half, German business daily Handelsblatt reported on Thursday. Source The Local de
HSBC bank would likely switch 1,000 jobs to Paris from London, with Britain planning to leave the EU single market under Brexit, chief executive Stuart Gulliver told Bloomberg Television. Source The Local Fr