London-based banks face 'nightmarish' choices after Brexit

Loss of London’s euro-clearing rights would mean business being transferred to Frankfurt or Paris, says Japanese ambassadorGlobal banking businesses will face nightmarish decisions if the UK loses its access to euro-clearing trading as part of the Brexit negotiations, the Japanese ambassador to the UK has warned.Koji Tsuruoaka said that Japanese companies would be among those affected as he emphasised the seriousness of what is at stake as the UK prepares for Brexit. Some EU countries are