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In her speech, May promised that businesses investing in Britain would get the lowest rate of corporation tax among the G20 group of leading economies, with access to service industries and a financial centre in London “that are the envy of the world”. She pledged to deliver an economy that is “knowledge-rich, highly innovative, highly skilled and high quality but with low tax and smart regulation” and said a new immigration system would allow businesses to attract the brightest and best.

LONDON (Reuters) - Britain faces a permanent debate over whether to copy or diverge from European Union financial rules after Brexit, a top UK lawmaker said on Wednesday in comments likely to prolong uncertainty for banks, Nicky Morgan, chair of parliament’s powerful Treasury Select Committee, said Britain’s financial sector and its regulators face several long-term questions as the country readies to leave the EU next March, So far the bloc has said it won’t give Britain’s banks and insurers special treatment, meaning they must use the EU’s existing system of market access for foreign companies, known unique cufflinks as equivalence..

This would in practice force Britain to continually align its regulation with EU rules to ensure continued access, but the Bank of England has said Britain must not be a “rule taker”. Morgan said there are questions about how should Britain use its autonomy over financial rulemaking after Brexit, a nod to pro-Brexit supporters who say the United Kingdom could loosen up some rules to keep the City globally competitive. “There will be in effect a permanent debate on whether to align or diverge from the EU framework,” Morgan told an International Swaps and Derivatives Association (ISDA) conference.

“It’s important that this debate is based on sound principles.”, Britain has called for an “enhanced” version of the EU’s equivalence regime to cover more financial activities, but Brussels is lukewarm, Tilman Lueder, head of securities markets at the European Commission, the body that decides if foreign unique cufflinks financial firms can access the EU market, said the equivalence system was already working well, “If anyone thinks Europe is closed to the world and is a fortress, the evidence does not bear that out,” Lueder told the conference, declining to say if Brussels would grant “equivalence” to Britain in financial services after Brexit..

FRANKFURT (Reuters) - Daimler (DAIGn.DE) named research chief Ola Kaellenius as its next CEO on Wednesday in a succession plan that promotes a raft of tech-savvy managers at its Mercedes-Benz car brand and also seeks to install long-serving CEO Dieter Zetsche as chairman. The German automaker said the plan would provide certainty on future leadership at a time of upheaval in the car industry, though some commentators questioned an arrangement they said could leave Zetsche as a back-seat driver. Daimler said the 49-year-old Kaellenius would become chief executive in 2019 and the 65-year-old Zetsche would, if shareholders approve, become chairman of the supervisory board in 2021, following a standard two-year cooling off period.

“Discussions surrounding Zetsche’s position in light of ongoing diesel issues should also come to an end,” analysts at Evercore ISI said, adding that hopes of a radical break-up of the cars and trucks conglomerate may be unique cufflinks dashed with Zetsche’s hand still at the wheel, “Those people hoping for extreme break-out scenarios should be reminded that Zetsche has been in favor of the current Group structure.”, The elevation of Kaellenius, a Swede who often wears jeans and sneakers and attends tech conferences, marks the first time the 132-year-old Stuttgart-based inventor of the modern automobile will be headed by a non-German CEO without an educational background rooted in mechanical engineering..

Currently Head of Group Research and Mercedes-Benz Cars Development, Kaellenius has helped Zetsche prepare for a new era of developing electric and self-driving cars at a time when Germany’s auto industry faces competition from new rivals like Waymo, Tesla, Byton and Nio emerging from the technology sector. “With Dieter Zetsche’s intended appointment as Chairman of the Supervisory Board, we are ensuring continuity for the sustained success of Daimler AG,” Daimler’s current chairman Manfred Bischoff said in a statement.

“In Ola Kaellenius, we are appointing a recognized, internationally experienced unique cufflinks and successful Daimler executive.”, GRAPHIC: German car stocks since 2006 - reut.rs/2N1ku84, Zetsche, with his distinctive white moustache, took the helm at Daimler in 2006 and oversaw the launch of a string of new models that helped Mercedes to eventually overtake German rivals BMW (BMWG.DE) and Volkswagen’s (VOWG_p.DE) Audi (NSUG.DE) to become the world’s biggest premium carmaker by sales in 2016..



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