Banks’ Brexit plans still need work if they are going to be ready for the UK leaving the EU, according to a powerful member of the ECB. Sabine Lautenschlaeger, vice-chair of the board of the Single Supervisory Mechanism, said issues remain in preparations for both UK-based banks trying to access the EU and EU-based banks wanting to service clients in the UK. “My message to all affected banks is this: don’t procrastinate,” she said, speaking at a banking forum in Frankfurt. “No one will wait for you. When Brexit happens you will either be prepared, or not. I advise you to be prepared.” Source City AM
The world’s two first hydrogen-powered trains have begun service in Germany. The trains, which operate in between northern German towns, are a step away from traditional diesel power. According to a press release from Alstom, the trains’ French parent company, they are are “equipped with fuel cells which convert hydrogen and oxygen into electricity. Source Popular Mechanics
Gavin Williamson meeting the Ukrainian military on 19 September. Britain will commit further Royal Marine commandos and a naval attache to Ukraine in a bid to bolster defences against Russia, the Defence Secretary has announced. The extra troops will provide combat training to the Ukrainian military and help build the country’s naval capabilities. Source Forces Networks
U.S. President Donald Trump linked American support for Middle Eastern countries to oil prices on Thursday as he again urged OPEC to lower prices. Source: Reuters
