Financial sanctions from the EU would be rather pointless without the involvement of London as the world's leading financial market.
The European Union has imposed sanctions on a Russian military malware developer and the commander of Russia’s MI6 equivalent, a mere five years after the two targeted Germany's parliament with a cyberattack. The pair, an admiral commanding the GRU spy agency and a malware dev already on international sanctions lists for …
Saturday 24th October 2020 02:19 GMT Glen 1
Monday 26th October 2020 12:38 GMT codejunky
Monday 26th October 2020 14:42 GMT I ain't Spartacus
I think London and New York are top at different things. But NY has the biggest capital markets because their stock exchanges (NYSE, NASDAQ etc) are way bigger and have more companies/shares/money.
London is top in currency trading and insurance. I think there are some commodities that are mainly traded in one of t'other. London may also be top in international legal services, but there's an awful lot of lawyers in New York, so I'm not sure about that.
Various people do top ten's of global financial hubs. They don't all agree, but what they do usually agree on is that London and New York vie for the top slot (with London having beaten it in a few in the last decade), but it's generally New York. After those two then Hong Kong, Singapore and Tokyo - then others like Shanghai, Toronto, Sydney, Geneva.
For those interested in Brexit news, I don't think there's anything to see here. The EU don't tend to get a look in to the global top tens, now that London's left. Or if they do it's Frankfurt sneaking in to tenth spot. But there are more people working in financial services in London than the entire population of Frankfurt - so moving it all there would be the work of decades. Apart from a tiny bit of retail insurance and banking work being lost without passporting - I doubt that Brexit will have a great deal of effect on global financial services. Unless the EU passes rules to block trading in foreign markets - the problem is that all the trained people and all the infrastructure is already in place elsewhere. Frankfurt's too small (as is Luxemburg) and Paris is too highly taxed. According to stuff I was reading at the time, the thought was that if the EU blocked Euro clearing in London, then it would move to New York - where a lot already happens anyway - because they've already got "equivalence" agreed with the US. So the only reason not to give it to London, which currently trades under EU rules, would be political.
Friday 23rd October 2020 23:18 GMT Anonymous Coward
Saturday 24th October 2020 20:31 GMT Glen 1
Sunday 25th October 2020 02:10 GMT Anonymous Coward
Re: Now I'm waiting for EU to sanction USA
That's never going to happen. The fix was in on that little misadventure a long time ago.
But at least Edward Snowden has a bit more of a long-term home. So we can be glad that there is a little less chance he will be handed over to the U.S. government after exposing the NSA & Friends skullduggery.
Monday 26th October 2020 08:29 GMT Anonymous Coward
How to face both ways at once.....
Quote: "...Dominic Raab.....norms of state behaviour in cyber-space...."
Yup.....pure hypocrisy: https://www.theguardian.com/uk-news/2018/sep/21/british-spies-hacked-into-belgacom-on-ministers-orders-claims-report
So....business as usual in Westminster and Cheltenham!
Monday 26th October 2020 11:45 GMT amanfromMars 1
Norms of state behaviour in cyber-space is for oxymoronic wishful thinking tinkers ....
..... and virtual snake oil salesmen/vapourware merchants
though UK government officials have claimed to The Register that its main value is to try and convince neutral nations to join the Western point of view on norms of state behaviour in cyber-space.
The Western point of view which is ..... a most ineffective and cynical and hypocritical do as we say rather than do as we do? Yeah, that's brilliant, if you're thinking to appeal and engage with morons ...... and no doubt the rotten source of all of their expanding woes and phantom foes. And defending the indefensible is a sure fire recipe for rapid international and rabid internetional disaster.
Do you see the same picture as is right royally portrayed by daily news updates with doom and gloom, FUD and FUBAR headlining?
I know what a Del Boy would say about all of that ...... "FCUKing Plonkers" ..... and they wouldn't be wrong, would they.