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Many financial institutions have started putting Brexit contingency plans into action and moving staff to newly leased offices in Paris, Frankfurt, Dublin and other financial hubs on the continent vivienne westwood cufflinks. Bank of America said on Friday that it had begun relocating some jobs to Paris, with staff moving in to a new 11,000 square meter office in the eighth arrondissement, near the Elysee Palace. The French government has been actively seeking to convince banks to move jobs to Paris, introducing tax incentives and pledging to open more English-language schools for bankers’ children..
Barclays has made Ireland its main post-Brexit EU banking hub, and got court approval last week to move 190 billion euros ($215 billion) of assets from Britain to its Dublin subsidiary. A source familiar with the moves said only “a relatively small number of people” would relocate to Paris as well as other EU centers and that decisions had to be fast-tracked after Theresa May’s historic defeat on her Brexit deal in Parliament on Jan. 15 vivienne westwood cufflinks. Britain’s financial services industry has so far emerged largely unscathed from the build-up to Brexit, with only about 2,000 roles expected to have moved or been created overseas even as the risk of a disorderly exit grows, a Reuters survey showed..
MOSCOW (Reuters) – Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin’s closest allies, has written to the Russian president saying Moscow’s deal with OPEC to cut oil output is a strategic threat and plays into the hands of the United States. The letter did not say whether the agreement in place since 2017 between the Organization of the Petroleum Exporting Countries (OPEC) and other large oil producers led by Russia to cut output should be extended or not. But according to two well-placed industry sources, the letter was a clear signal to other senior Russian officials involved in energy policy that Sechin wants the deal to come to an end vivienne westwood cufflinks.
There is no guarantee Putin will back Sechin’s view because the president sees the pact with OPEC as part of a much bigger puzzle involving dialogue with OPEC’s leader Saudi Arabia over Syria and other geopolitical issues. “The letter is a threat to the deal extension vivienne westwood cufflinks. But anyway, Putin is the ultimate decision maker,” one of the sources said. Reuters has seen a copy of the letter with no date or header. A government source said it was sent at the end of December. The so-called OPEC+ deal has helped oil prices double to more than $60 per barrel. It has been extended several times and, under the latest deal, participants are cutting output by 1.2 million barrels per day (bpd) until the end of June..
OPEC and its allies will meet on April 17-18 in Vienna to review the pact vivienne westwood cufflinks. Should Russia abandon the deal, it would result in a steep oil price crash or force Saudi Arabia to carry most of the burden of cutting output to continue propping up global crude prices. Riyadh has said it will not do this alone. A price crash would deal a severe blow to U.S. oil firms as they operate fields where it is more expensive to extract oil, but would benefit the broader U.S. economy. The United States, which overtook Russia and Saudi Arabia as the world’s biggest oil producer last year, is not participating in the output cuts..