{"componentChunkName":"component---src-templates-post-js","path":"/london-ousted-by-amsterdam/","result":{"data":{"ghostPost":{"id":"Ghost__Post__6024f63186a08b00399cb0cc","title":"London ousted by Amsterdam","slug":"london-ousted-by-amsterdam","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-381.png","excerpt":"Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit.","custom_excerpt":"Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit.","created_at_pretty":"11 February, 2021","published_at_pretty":"11 February, 2021","updated_at_pretty":"11 February, 2021","created_at":"2021-02-11T09:17:37.000+00:00","published_at":"2021-02-11T09:23:19.000+00:00","updated_at":"2021-02-11T09:23:19.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"}],"plaintext":"The 1-minute read to get the money news you need.\n\nLondon loses crown\nAmsterdam has overtaken London\n[https://www.cityam.com/brexit-crowns-amsterdam-europes-top-trading-hub-ousting-london/] \nas Europe’s trading hub, with the City losing business after Brexit. The Dutch\ncapital handled €9.2 billion of trades in January, while London’s trading\nvolumes fell sharply to €8.6 billion. It’s mainly a symbolic moment - the\neconomic impact of the lost business is pretty small.\n\nBanks locked out?\nUK banks could be locked out of the EU banking market\n[https://www.telegraph.co.uk/business/2021/02/10/dont-cut-city-bailey-warns-brussels/]\n* leading to higher prices for mortgages, insurance, and other finance. We’re\nstill in talks to sort out a permanent post-Brexit deal for financial services.\nBut Andrew Bailey, the governor of the Bank of England, said there are signs the\nEU intends to cut the UK off.\n\nRecord Christmas\nRoyal Mail had its busiest Christmas ever\n[https://www.theguardian.com/business/2021/feb/11/royal-mail-delivers-record-parcel-numbers-as-covid-cuts-despatch-of-letters]\n, delivering 496 million parcels in the last 3 months of last year. That’s 30%\nmore than the same period in 2019. It struggled to deliver all those parcels on\ntime thanks to disruptions in the run up to Christmas with staff off sick or\nself isolating.\n\nDon’t book a holiday?\nConfusion is mounting over whether summer holidays will be possible. With\nstricter border measures coming into force to try and keep coronavirus variants\nout of the country, many are booking breaks in the UK. But Boris Johnson reckons \nwe should hold off\n[https://news.sky.com/story/covid-19-government-doing-everything-we-can-to-allow-summer-holidays-this-year-says-matt-hancock-12214840]\n, saying it’s too early to know what we’ll be able to do.","html":"

The 1-minute read to get the money news you need.

London loses crown

Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit. The Dutch capital handled €9.2 billion of trades in January, while London’s trading volumes fell sharply to €8.6 billion. It’s mainly a symbolic moment - the economic impact of the lost business is pretty small.

Banks locked out?

UK banks could be locked out of the EU banking market* leading to higher prices for mortgages, insurance, and other finance. We’re still in talks to sort out a permanent post-Brexit deal for financial services. But Andrew Bailey, the governor of the Bank of England, said there are signs the EU intends to cut the UK off.

Record Christmas

Royal Mail had its busiest Christmas ever, delivering 496 million parcels in the last 3 months of last year. That’s 30% more than the same period in 2019. It struggled to deliver all those parcels on time thanks to disruptions in the run up to Christmas with staff off sick or self isolating.

Don’t book a holiday?

Confusion is mounting over whether summer holidays will be possible. With stricter border measures coming into force to try and keep coronavirus variants out of the country, many are booking breaks in the UK. But Boris Johnson reckons we should hold off, saying it’s too early to know what we’ll be able to do.

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