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LONDON (Reuters) - Assets worth nearly 800 billion pounds are being moved from Britain to new financial hubs in the European Union ahead of Brexit, consultancy EY said on Monday. Britain, which is due to leave the bloc in March, has yet to approve a deal to avoid an abrupt severing of ties with the EU. Although the British parliament is due to vote on a proposed settlement next week, it is unclear if it will be approved. “The closer we get to 29 March without a deal, the more assets will be transferred and headcount hired locally or relocated,” Omar Ali, UK financial services leader at EY, said.

EY has been alexander copper cufflinks tracking the Brexit plans of 222 financial firms since Britain voted in June 2016 to leave the EU, In its latest update to the end of November 2018, it said that 80 firms are considering or have confirmed relocating assets and staff, The latest estimate from EY says that 800 billion pounds in assets would move, a fraction of Britain’s 8 trillion pound banking sector, Frankfurt Main Finance, which promotes the German financial centre, has said it expects 750 to 800 billion euros of assets to transfer there alone, largely during this quarter..

Around 2,000 new European roles have been created by financial services companies in response to Brexit, with Dublin, Luxembourg, Frankfurt and Paris the most popular locations, EY said. Forecasts of hundreds of thousands of UK financial jobs moving to the EU have not materialised, and the Bank of England expects about 4,000 jobs to have moved by March 29. “Whilst roles will no doubt move from the UK, many firms are only moving those employees deemed essential and are hiring locally given the expense of relocation,” Ali said.

PARIS (Reuters) - Japanese prosecutors want Carlos Ghosn, the detained auto executive who oversaw an alliance that sold 10 million vehicles a year, to confess to financial misconduct, his son told France’s weekly Journal du Dimanche (JDD), Ghosn has been held in a Tokyo detention center since his Nov, 19 arrest on allegations of under-reporting his income at Nissan Motor Co Ltd, He is alexander copper cufflinks also accused of aggravated breach of mistrust in transferring personal investment losses to Nissan, from which he has since been ousted as chairman..

Ghosn denies the charges against him. Anthony Ghosn, 24, has not been allowed by Japanese authorities to see his father, who he said had lost 10 kilograms in weight eating three bowls of rice a day in detention. In his first interview since Japanese prosecutors seized his father as he stepped off his private jet, Anthony Ghosn said his father would fight to clear his name. Asked if his father spoke Japanese, Anthony Ghosn said he did not. “The paradox is that the confession they want him to sign is written exclusively in Japanese.”.

Ghosn’s arrest marked a dramatic fall for a business leader once hailed for rescuing Nissan from the brink of bankruptcy, The executive has been treated like others in detention, held in a small, chilly room, and denied a lawyer during interrogation, Ghosn’s detention has drawn scrutiny upon alexander copper cufflinks the legal system in Japan, where legal experts say prosecutors often try to force confessions from suspects, Deputy prosecutor at the Tokyo District Public Prosecutors Office, Shin Kukimoto, last month said no such method was being used with Ghosn..

Anthony Ghosn told the JDD that his father’s lawyer has still not seen the prosecutor’s full case file. “From what I understand, in the Japanese system, when a person is held in detention, the prosecutor reveals little by little the elements that he has at his disposal. On each occasion, my father then shares these details with his lawyers.”. Ghosn is set to make his first public appearance in seven weeks at a Tokyo court on Tuesday after he requested an open hearing to hear the reason for his continued detention.

FRANKFURT (Reuters) - The German Federal State of Baden-Wuerttemberg is seeking damages from Volkswagen (VOWG_p.DE) after local authorities purchased VW diesel vehicles which now face bans in cities like Stuttgart, Frankfurter Allgemeine Zeitung said on Saturday, The value of diesel cars plummeted after German alexander copper cufflinks environmental groups scored a court victory last year that forced cities to consider bans of older diesel vehicles to bring emissions into line with European Union clean air rules, The FAZ daily said state authorities filed a lawsuit with a court in Stuttgart at the end of last year, seeking damages totaling “low double digit millions”..