London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based on a confirmation that 30 financial institutions had applied to the European Central Bank to move their headquarters to Frankfurt. It claimed this number would be higher by March and…

Read More

India: agencies predict 30% drop in students going to Aus due to bank back up

Implementation of the new policy and introducing new ₹500 and ₹2,000 bank notes into circulation has put a strain on banks resulting in delays in processing education bank loans for overseas study. The backlog on granting loans affects students who are planning to enrol in an Australian university next month, according to AAERI. According to the association, up to three quarters of students choosing to study in Australia take out education loans to pay for the first semester’s tuition fees. “This has slowed down the process for bank loan sanctioning” In each intake, there…

Read More

Insurance policies underwritten by Gable due to be cancelled – replace your car cover ASAP

If you’ve car insurance underwritten by Gable Insurance, you’ll need to arrange alternative cover before your policy is voided at the end of next week, following the company’s slide into liquidation. Liechtenstein-based Gable Insurance underwrites motor insurance, home insurance and liability insurance policies in the UK for firms that have included Sure Thing, Paragon and Towergate. Gable went into liquidation on 16 November – meaning thousands of insurance contracts will be cancelled as of 16 December. If you’ve been impacted by the company’s demise you’ll need to find new insurance…

Read More