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CME Group seeks UK regulator approval to open derivatives exchange in London

LONDON | Ultimately, the US platform’s move props up the British capital’s Square Mile as a global European financial hub: CME Group, a leading derivatives marketplace, announced Monday it is in the process of applying to the United Kingdom’s Financial Services Authority to create a London-based derivatives exchange. CME’s executive chairman Terry Duffy explained that already 20 percent of the company’s business originates from clients in the European Union region. Setting an exchange…


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The self-indulgent City of London

By Miguel Ángel Rodríguez, analyst at XTB, in Madrid | Midsummers have often been marked by markets’ most abrupt movements and scares that have hit unaware investors. This year, it wouldn’t be the first time I saw traders and asset managers cut short their holidays because their positions, once so safe that were left open, have stopped being as secured as they believed. Just skimming through the salmon papers, in…


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Olympics cash wave too low to surf

LONDON | While the Earth begins to follow the 2012 Olympics' throb, as the Welsh authorities put it Tuesday morning, research to determine whose massive opportunity it is has kick-started. But the scope of the latest studies seems more restricted: instead of holding expectations of a general recovery for the UK's economy, think of particular sectors of the hospitality industry. And think London. According to data collected by Santander UK, London…


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Admiralty Arch to become Spanish-owned hotel next to Buckingham palace

how can i get my ex girlfriend back LONDON | Trafalgar Square's entrance towards Buckingham Palace has reportedly been sold to Spanish financier Rafael Serrano, whose plans for the London landmark involve a hotel. According to sources talking to The Times in London and Cinco Días in Madrid, Serrano bid £60 million (€75 million) for the listed building through his investment arm Prime Investors Capital. The British government aimed at…


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Pessimist about the economy? Stop moaning and follow London

LONDON | Unlike the rest of planet? London businesses are more optimistic than six months ago about the prospects for the economy and for their own companies. The CBI/KPMG London Business Survey is conducted twice a year to monitor the views of business on London as a place to do business. Encouragingly in the latest survey of 264 companies, 41% of respondents say they feel more optimistic about the economy during the…


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Even UK unions might welcome London councils’ joint pension fund

LONDON | A proposed London Pensions Mutual would attempt to square the circle of austere consolidation and need for growth. The mega-pension fund could have assets in excess of £30 billion. It could also allocate up to 7.5% or £2.25 billion of its portfolio towards local infrastructure projects, taking advantage of changes announced by the coalition government in Downing Street to facilitate private investors’ and pension funds’ participation in UK infrastructure…


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Manchester gets the Meliá treatment

LONDON | CEO and Vice Chairman of Meliá Hotels International, Gabriel Escarrer signed an agreement for what will become the third hotel for the Majorca-based company in the UK: the Innside Manchester Hotel. Meliá Hotels International is the world’s largest resort hotel company and the largest hotel chain in Spain, and is third in the European ranking. The deal confirms its interest in the UK, “one of the most important markets…


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Renta4: “Telefónica is coming to London”

A brief note from analysts at Renta4 about Spain’s Telefónica announcing that it will create a London-headquartered unit, Telefónica Digital, which is part of further restructuring plans to become a global player in the sector. Renta4 says trading shouldn’t be affected, although Telefónica’s move certainly looks positive on the paper: “The Board of Directors Monday announced a profound organizational change in order to participate more actively in the digital world and take advantage…


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Renta4: "Telefónica is coming to London"

A brief note from analysts at Renta4 about Spain’s Telefónica announcing that it will create a London-headquartered unit, Telefónica Digital, which is part of further restructuring plans to become a global player in the sector. Renta4 says trading shouldn’t be affected, although Telefónica’s move certainly looks positive on the paper: “The Board of Directors Monday announced a profound organizational change in order to participate more actively in the digital world and take advantage…