Both sides seeking deal to secure continuous trade once Brexit implemented on 1 January
The UK is close to sealing a “continuity” trade deal with Japan that will mirror that of the EU pact that Britain will no longer be part of next January.
But in order to strike an agreement in time for it to be ratified by the Japanese parliament, the international trade secretary, Liz Truss, has had to drop her ambitions for preferential treatment for British food exports.
BaFin, the financial regulator, is up for reform as the German finance ministry has unveiled plans to change financial regulation in the country in the wake of the Wirecard scandal, according to the Financial Times.
The news comes as pressure mounts on the authorities over their failure to properly police the disgraced payments company.
BaFin is to be equipped with “sovereign powers” to intervene “directly and immediately” in public companies, according to the draft of an “action plan” distributed by the finance ministry last week.
“BaFin should have the right to carry out special audits of all capital market-oriented companies, including the right to access information from third parties, the ability to carry out forensic investigations and the right to inform the public about its auditing of balance sheets earlier than is currently the case,” the ministry says.
The plan will also strengthen APAS, the body that oversees auditing firms … Read the rest
Trade union accuses airline of setting out to fire and rehire thousands of workers on less favourable terms
British Airways cabin crew have warned the airline to expect an “immediate” strike over plans to cut up to 12,000 jobs following the collapse in demand for air travel because of the coronavirus pandemic.
Unite, the trade union which represents thousands of BA employees including cabin crew, engineers and maintenance staff, accused the airline of planning to “fire and rehire” thousands of its workers on reduced terms.
Yoga is a practice known for its mindful, do-no-harm teachings. But yoga studios are also businesses, and many in current COVID-19 red zones are still offering in-studio classes. We zero in on the yoga community in Phoenix, Arizona to decipher how various studios are approaching the pandemic, and what the future of the yogi business could look like.
The wealth management industry is facing plenty of changes in 2020
The wealth management industry is facing a period of unprecedented change. Economic turmoil, regulatory variation, customer experience demands, and digital transformation are all shaking the foundations of how firms operate.
Wealth managers stand on the edge of a fundamental change in the way they do business.
High-net-worth individuals (HNWIs) are getting younger by the year, and as their median age dips, their expectations rise.
New customers demand better personalisation. They need niche portfolios tailored to their interests and ways to invest sustainably.
While the wealth manager has perhaps broken free from their once stuffy image, challenges remain when trying to move technologically.
As firms begin to prioritise interaction with customers and better managed experiences, their legacy software remains a challenge.
Wholesale replacement has extraordinary risk in both costs and time, though it may remain a strategic target for many … Read the rest