Financial innovations will evolve with global farming

2017 ◽  
Keyword(s):  
Financial Services ◽  
Agriculture Policy ◽  
Short Term ◽  
Wine Production ◽  
Content Type ◽  
Financial Innovations ◽  
The United Kingdom ◽  
Supply Chain Risks ◽  
The Eu ◽  
European Agriculture

Subject Financial innovation in European agriculture Significance Changes to Europe’s Common Agriculture Policy (CAP) are coinciding with increased political uncertainty to create new supply chain risks for farmers and agribusinesses. For financial services firms, there are opportunities to develop services and tools to manage and transfer critical risks. In 2015, European milk production quotas were abolished. Planting rights and quotas are due to be removed from sugar beet and wine production. Impacts Short-term uncertainty in trade agreements is likely to prompt firms to invest more in risk management. Brexit uncertainty may result in more variable demand, encouraging the use of financial services to stabilise incomes and price key risks. Ireland is exposed to the Brexit talks as the United Kingdom is a key importer of Irish products and Ireland is a land border with the EU.

Prospects for a close EU-UK trade deal are not good

2019 ◽  
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Transition Period ◽  
Content Type ◽  
The United Kingdom ◽  
Uk Government ◽  
The Uk ◽  
The Impact ◽  
Limited Period ◽  
The Eu

Subject UK-EU trade talks. Significance The United Kingdom will leave the EU on January 31, 2020, but will abide by EU rules as part of the transition period, which runs to December 31, 2020. During this limited period of time, London and Brussels will seek to negotiate a permanent trading relationship. While the transition deadline can be extended, the UK government has committed not to seek an extension. Impacts The impact of no trade deal or a 'thin' one may force the UK government to increase taxes in order to meet spending pledges. UK financial services will rely on an equivalence deal with the EU; London hopes to agree this by mid-2020. The EU’s future trade policy will focus on having stronger sanction powers as well as legal ones for those that unfairly undercut EU firms.

Hi-tech competition will colour EU-US friendly ties

2016 ◽  
Keyword(s):  
United Kingdom ◽  
State Aid ◽  
Short Term ◽  
Content Type ◽  
Corporate Power ◽  
The United Kingdom ◽  
The Us ◽  
Us Government ◽  
The Eu

Significance Earlier, on August 30, the Commission said the Irish government's tax arrangements with Apple constituted illegal state aid that required a payment of 13 billion euros (14.4 billion dollars) to the Irish authorities. The cases have given rise to suspicions that the EU authorities are unfairly targeting US companies. Impacts Short-term relations with the US government will deteriorate but -- if the Microsoft experience is any guide -- without lasting damage. The Apple ruling may bolster the Commission's reputation, as concerns over corporate power and inequality resonate with the EU public. Once it is outside the EU, the United Kingdom may have few attractions as a hub for US internet operations.

UK shipping may not find Brexit such a bounty

2017 ◽  
Keyword(s):  
Financial Services ◽  
Raw Materials ◽  
Government Support ◽  
Shipping Industry ◽  
Short Term ◽  
Content Type ◽  
On Demand ◽  
Red Tape ◽  
The Uk ◽  
The Eu

Subject Brexit and the UK shipping sector. Significance The shipping industry wants to maintain maximum openness with the EU27, avoiding restrictions that might delay the transit of goods or passengers and retaining ‘passporting rights’ for maritime-related financial services into the single market. At the same time, it wants to re-examine the regulatory framework, scrap any measures that damage UK competitiveness or create unnecessary red tape, and adopt a ‘Britain First’ approach to procuring maritime products and services and securing government support. The desire to achieve both aims is close to ‘having one’s cake and eating it’. Impacts Reorienting UK trade towards the wider world would boost shipping, particularly if more raw materials were sourced from outside the EU. In practice a reorientation of trade would have limited effects on the UK shipping sector beyond the ports handling such trade. An increase in traffic would be offset by both a decline in short-sea trading with Europe and Brexit’s short-term impact on demand.

India-UK free trade deal is likely around 2019

2016 ◽  
Keyword(s):  
International Trade ◽  
United Kingdom ◽  
Free Trade ◽  
Financial Services ◽  
Content Type ◽  
Decision To Leave ◽  
The United Kingdom ◽  
The Uk ◽  
Economic Ties ◽  
The Eu

Subject Outlook for a possible free trade deal between India and the United Kingdom post-Brexit. Significance UK business minister Sajid Javid's first overseas visit following the UK decision to leave the EU ('Brexit') was to India on July 8. Both countries have long eyed closer economic ties, and Brexit will likely provide a catalyst. Impacts Prospects for growth are strongest in areas including IT, financial services, pharmaceuticals, textiles and light engineering. The United Kingdom could support India in future international trade negotiations. In time, the India-UK relationship may become diplomatically stronger than the India-US relationship.

Radically new UK economic strategy could be undermined

2020 ◽  
Keyword(s):  
United Kingdom ◽  
Public Spending ◽  
Regional Inequality ◽  
Short Term ◽  
Economic Strategy ◽  
Content Type ◽  
Regional Inequalities ◽  
The United Kingdom ◽  
Economic Divergence ◽  
The Eu

Subject New UK economic direction. Significance The rhetoric of the new government implies a radical break with previous policy both domestically (tackling regional inequality) and internationally (the freedom to diverge from EU rules). In both cases the ambitions are real and there will be major changes, but significant economic and political tensions remain and have yet to be resolved: public spending demands may not be met due to fiscal and political constraints while London's aim for economic divergence will face opposition from business. Impacts The respective red lines of the United Kingdom and EU mean that a thin trade deal, or possibly none at all, is the most likely outcome. Large increases in infrastructure spending are unlikely to alleviate regional inequalities in the short term. Economic divergence from the EU will limit the scope for a close and comprehensive EU-UK security and defence relationship post-Brexit.

UK premier survives to deliver Brexit deal

2018 ◽  
Keyword(s):  
Prime Minister ◽  
Political Authority ◽  
Adverse Impact ◽  
House Of Commons ◽  
Short Term ◽  
Content Type ◽  
The United Kingdom ◽  
Market Turbulence ◽  
High Level ◽  
The Eu

Significance Prime Minister Theresa May's keynote address had been billed in advance as key to whether she would have the personal political authority to conclude any kind of deal with the EU before the end of this year and see it endorsed by the House of Commons. It was also viewed as a showcase for the support that former Foreign Secretary Boris Johnson might have with Conservative activists as his positions himself for the succession to May. Impacts Although a deal is likely, a high level of drama and market turbulence around the United Kingdom can be expected between now and end-2018. Ambiguity of outcome in the overall EU-UK relationship is likely to persist through 2020. External investment is thus likely to be paused in the short term, with an adverse impact on UK growth.

The international strength of the euro will grow

2021 ◽  
Keyword(s):  
Euro Area ◽  
Financial Services ◽  
Raw Materials ◽  
Domestic Demand ◽  
Content Type ◽  
The Us ◽  
Us Dollar ◽  
Strategic Autonomy ◽  
Geopolitical Risks ◽  
The Eu

Significance The proposals identified areas where the euro could potentially become more dominant, such as the issuance of green bonds, digital currencies, and international trade in raw materials and energy. Ambitions to enhance the international leverage of the euro are being driven by the aim to strengthen EU strategic autonomy amid rising geopolitical risks. Impacts Developing its digital finance sector would be an opportunity for the EU to enhance its strategic autonomy in financial services. Challenging the US dollar would require the euro-area to rebalance its economy away from foreign to domestic demand. Member state division will prevent the economic reconfiguration the euro-area needed to make the euro a truly global currency.

Research on financial innovations: an interdisciplinary review

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad G. Nejad
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Academic Research ◽  
Research Literature ◽  
Future Research ◽  
Breeding Ground ◽  
Financial Industry ◽  
Content Type ◽  
New Era ◽  
Financial Innovations

PurposeThe financial industry offers a unique setting to study innovations. Financial innovations have fueled the growth of economies, markets and societies. The financial industry has successfully become the breeding ground for innovative services, processes, business models and technologies. This study seeks to provide a holistic view of the literature on financial innovations, synthesize the research findings and offer future directions for research in light of three market developments that are disrupting the industry and opening up a new era for the financial services industry. Disruptions from within and outside the industry offer new generations of radically innovative services. Moreover, new generations of consumers differ from previous generations in their needs and wants and look for innovative ways to handle their financial needs. Finally, significant developments related to financial innovations have emerged in Asia and developing countries.Design/methodology/approachThis study systematically reviews the academic research literature on financial innovations in two phases. The first phase provides a quantitative review of 546 journal articles published between 1990 and 2018. In the second phase, the study synthesizes the extant research on financial innovations and maps them in five research areas: firms' introduction and adoption of FIs, financial innovation development, the outcomes of financial innovations, regulations and intellectual property, and consumers.FindingsThe analysis found that disciplines differ with regard to the employed research methodologies, the units of analysis, sources of data and the innovations they examined. A positive trend in the number of published articles during this period is observed. However, studies have primarily focused on the USA and Europe and less so on other parts of the world. The literature synthesis further identifies research gaps in the available research that highlight future research opportunities in light of the three market disruptions. The financial services industry is on the brink of a new era due to disruptions from within and outside the industry and the entrance of new generations of consumers. Moreover, the financial industry has successfully become the breeding ground for innovative services, processes and business models. Therefore, financial innovations offer promising opportunities for bridging the gap between research on product and service innovations.Research limitations/implicationsThe work provides a holistic and systematic overview of extant research on financial innovations and highlights future research opportunities in light of the three disruptive market developments. It helps researchers take advantage of the opportunities in studying financial innovations while maintaining industry relevance.Originality/valueThe study is the first to review and synthesize the academic research literature on financial innovations across marketing, finance and innovation disciplines. In addition, the study highlights three primary disruptive forces in the financial industry and identifies future research directions in light of these disruptive forces.

23. Electronic money

2017 ◽  
Author(s):  
Ian J. Lloyd
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Online Gambling ◽  
Electronic Money ◽  
Technical Standards ◽  
Prudential Supervision ◽  
The United Kingdom ◽  
Gambling Activities ◽  
The Eu

This chapter begins with a discussion of the regulation of the issuance and use of electronic money. Initial sector-specific legislation was introduced by the EU in the form of the Directive on the taking up, pursuit of, and prudential supervision of the business of electronic money institutions. In the United Kingdom, the Financial Services and Markets Act 2000 designated the issue of e-money as a ‘regulated activity’ and particular provision to implement a Directive was made. The chapter then turns to the regulation of online gambling. It covers the Gambling Act 2005, licensing of remote gambling activities, and the Remote Gambling and Software Technical Standards.

Prospects for Europe in the third quarter

2015 ◽  
Keyword(s):  
United Kingdom ◽  
Single Currency ◽  
Member States ◽  
Content Type ◽  
The Third ◽  
The United Kingdom ◽  
The Future ◽  
The Eu ◽  
The Way

Subject Prospects for Europe in the third quarter. Significance For the rest of June and the third quarter, the EU will grapple with the future positions within the bloc of two member states, the United Kingdom and Greece. The period will see the resolution, one way or another, of the immediate crisis in Greece's relations with its international creditors. The way in which this takes place will have profound implications for the future of the single currency.

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