New Basel regulations due to take effect in 2019 will create need for 2,000 staff. Some of the world’s biggest banks are set to spend more than $200m each to implement new regulations that will dramatically increase capital demands for some parts of their trading businesses. Source: FT
Gefira Anticipation Bulletin
Gefira provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
Yearly subscription: 10 issues for 220€
Introduction price currently for 160€
The euro clearing houses that currently trade from London could only remain in the city after Brexit if the new framework is “strong enough.” But, for now, such a possibility sounds “challenging,” an executive member of the European Central Bank told CNBC in Davos. Source CNBC
Retail sales in December dropped 1.9% from the previous month, according to official figures. Sales across all main retail sectors declined, with the heaviest falls coming at non-food stores, the Office for National Statistics (ONS) said. It was the biggest monthly fall for more than four and a half years. Source BBC
The number of unemployed people registered with Greece’s Manpower Organization (OAED) came to 1,072,652 in December, showing a rise of 24,991 from the same month in 2015, when they came to 1,047,661. Source Ekhatemirini