The Bank of England believes that up to 75,000 jobs could be lost in financial services following Britain’s departure from the European Union.The BBC understands senior figures at the Bank are using the number as a “reasonable scenario”, particularly if there is no specific UK-EU financial services deal. Source: Bank of England believes Brexit could cost 75,000 finance jobs – BBC News
Saudi Arabia’s Public Investment Fund plans to invest about $1bn in Richard Branson’s space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published late last week Source: Saudi’s PIF to invest about $1bn in Virgin’s space companies – Gulf Business
LONDON – Gulf states are ramping up plans to raise syndicated loans for state-owned firms in a fundraising drive designed to offset the effects of low oil prices that also includes privatisations, financial restructurings and IPOs of state assets. Source: Middle Eastern sovereigns eye loans in fundraising drive | ZAWYA MENA Edition
Saudi wealth fund PIF expects to create over 20,000 jobs by 2020 The Saudi government plans to expand the PIF Source: Saudi wealth fund PIF expects to create over 20,000 jobs by 2020 – Gulf Business
Europe’s banks took further steps on the painful recovery path last year, but non-performing loans still loom over the sector, according to European Source: European banking sector continues painful path to recovery but bad loans still loom | City A.M.