UBS expects London to lose 25% of a €1 trillion-a-day business due to Brexit

The investment bank expects around €250 billion of daily euro clearing business will shift from London's LCH to Deutsche Borse's Eurex in Frankfurt. Deutsche Bank, Barclays, and HSBC have all moved some of their euro-denominated clearing business to the continent in recent months.

Business Insider Select September 14, 2018   |   View Online »

UBS expects London to lose 25% of a €1 trillion-a-day business due to Brexit The investment bank expects around €250 billion of daily euro clearing business will shift from London's LCH to Deutsche Borse's Eurex in Frankfurt. Deutsche Bank, Barclays, and HSBC have all moved some of their euro-denominated clearing business to the continent in recent months. Read More »

Alibaba Cloud and myDevices have partnered to launch "IoT in a Box" Alibaba Cloud, a division of the Chinese e-commerce and technology giant, has formed a new partnership with IoT solution provider myDevices, the companies announced in a release. Read More »

'It could really change TV': Amazon wants to partner with the biggest networks on a pilot program to sell ads for top Fire TV apps BI PRIME: Amazon is trying to recruit major TV networks for a pilot program which would allow them to sell ads in top Fire TV apps. Such a move could be a game changer in the ad business — that is, if often cautious TV networks get on board. Read More »

Russian warships lurking off Syria are probably hanging around for cruise missile strikes in a major offensive US defense officials suspect that the Russian navy is hanging around in Syria to launch cruise missile strikes should senior leadership order a strike as Moscow's partners in Syria prepare for a massive assault on the last rebel stronghold. Read More »

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Why it's so hard to reach an international agreement on killer robots One problem is the fact that there is no definition on what constitutes an autonomous weapon. Because. on some level, humans must pull the trigger — the question becomes, what kind of human involvement is needed and when must it occur? Read More »

The lira is going wild after the Turkish central bank defied Erdogan and hiked interest rates Turkey's central bank raised the interest rate from 17.75% to 24% on Thursday, beating market forecasts. Earlier in the day, Turkish President Erdogan stoked fears that the central bank's independence could be under threat by calling for low interest rates. Read More »

I went inside the NYC napping lounge where people are paying up to $250 a month to nap in dark, private pods at any time of day — here's what they look like At Nap York in New York City, people can pay $15 to nap in a pod for 30 minutes. They can also pay $250 a month for a nap-a-day membership. We took a look inside the space that aims to be an oasis in the city for busy New Yorkers to recharge. Read More »

Hurricane Florence has arrived and is already causing massive floods on the US coast Hurricane Florence is over North Carolina, causing 'life-threatening' storm surge and hurricane-force winds along the coast, according to the National Hurricane Center. 'Catastrophic' flooding is expected across North and South Carolinas, with maximum sustained winds at 90 mph as of 4 a.m. Friday. Read More »

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