FT News Briefing Trump’s Covid-19 case prompts questions, financial services in a post-Brexit world
Oct 5, 2020
Health updates about Donald Trump reveal he might leave the hospital soon, raising questions about his presidential campaign. The podcast dives deep into the shifting landscape of financial services after Brexit, discussing London's competition with cities like Dublin and Paris. It also addresses the challenges faced by UK firms seeking access to EU markets, highlighting key regulatory dynamics and the importance of 'equivalence' in this new financial environment.
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Trump's Health and Campaign Impact
- Donald Trump's condition after testing positive for COVID-19 was more severe than initially reported, including a high fever and drop in oxygen levels.
- Despite potential release, his campaign is hampered, relying on less effective campaigners like Mike Pence.
London's Financial Dominance
- London's dominance in European financial services grew significantly in the last 20 years, largely due to the EU single market.
- This allowed London to attract major global investment banks and become a central hub for various financial activities.
Post-Referendum Financial Shifts
- Since the Brexit referendum, financial institutions have prepared for potential disruptions by setting up operations in EU countries.
- This involves relocating staff, assets, and expanding existing offices to maintain access to the European market.