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[Merged]Brexit stuff

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    UBS piles the pressure on:

    Ermotti Says UBS Could Move 30% of London Staff on Brexit - Bloomberg

    I'm alright Jack

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      Originally posted by scooterscot View Post
      Team Brexit car

      At the moment it seems more like this:



      With Davis giving out his impression of Brexit in Parliament and then being told it's wrong by his boss and all the other little empire builders arguing with each other...
      Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

      Comment


        For all you remoaners this is bad news for your little egos but good news for your finances

        In the wake of the EU referendum, our trade prospects are on a virtuous cycle 

        In the 10 weeks since Britain voted to leave the EU, the contours of our future have emerged far more clearly than Theresa May’s critics will admit. We are well‑placed to seize the opportunities of Brexit and to allay the fears of those who voted Remain.

        First, the immediate economic aftermath defied the referendum scaremongering. The FTSE 100 and 250 are higher now than before the referendum campaign was launched in February. Consumer confidence has rebounded, employers are hiring more staff, and export orders are rising. The pound has rallied, and its residual devaluation has boosted exports. Lord King, former governor of the Bank of England, argues that the UK economy since the referendum is “now in a better position to rebalance” away from consumer spending towards export-driven growth.

        Former Governor of the Bank of England Mervyn King at his home in Kent
        Former Bank of England Governor Mervyn King says post-referendum, the UK can reorientate towards export-driven growth CREDIT: ANDREW CROWLEY/-
        It’s early days, but the British economy has proved resilient enough to weather the immediate shock. Die-hard Remainers, unwilling to acknowledge these facts, are pitting themselves against the 62 per cent of Britons who, according to a poll by ComRes, now feel positive about Britain’s Brexit future.

        Die-hard Remainers are pitting themselves against the 62 per cent of Britons who now feel positive about Britain’s Brexit future
        On Monday, Labour decried the lack of detailed proposals to attack. In fact, the parameters of the negotiations are already reasonably clear. Preparatory discussions are under way. The UK will trigger Article 50 in the new year (probably by Easter), giving us two years to finalise the deal, well before the 2020 general election. Using Article 50 means the deal will be voted on by “qualified majority” in the EU, not unanimity, leaving it less vulnerable to being hijacked by special interests or isolated opposition. Brexit Secretary David Davis made it clear we won’t be paying a fee to access the single market, or offering up national control over immigration as bargaining chips.

        This is crucial, and not just because it was central to the Brexit mandate. Both Remainers and Leavers believe the top priority now is to retain strong trade with the EU. If Britain signalled a willingness to barter free movement for access to the single market, it would consume the negotiations from start to finish.

        Instead, diplomacy will focus on where, between the range of tariff-free trade (that we already enjoy) and average EU external tariffs of 3.6 per cent, we end up. There is strong mutual interest in avoiding new tariffs. Yet any new trade barriers would hit Continental businesses far harder, because they sell £68 billion more to us each year than we do to them.

        In response, Labour demand that Parliament vote on the Brexit deal, a thinly veiled effort to frustrate the democratic verdict – even though Parliament voted by 6 to 1 to hand this decision to the people. These democratic contortions are echoed by SNP demands for a second referendum on independence – which are out of step with the majority of Scots, who oppose another referendum, on the EU or independence. Opposition parties are inserting a hefty wedge between themselves and the voters, including those who voted Remain.

        Among the good news airbrushed out by the BBC from China, there have now been the numerous pledges, from Mexico to India, to negotiate free-trade deals with the UK
        Meanwhile, at the G20 in China, Theresa May pledged to make Britain a global leader in free trade. Ignoring all the positives, the BBC homed in on a letter from the Japanese government, expressing concerns about the impact of Brexit on Japanese firms based in Britain and trading in Europe.

        In fact, the letter was addressed to both the EU and the UK, making the case against erecting trade barriers. Such pressure will help Britain’s negotiations with the EU. Equally, the chief executives of Toyota and Hitachi have said their firms will stay in the UK regardless of Brexit, and in July Japanese IT firm SoftBank announced £24 billion more investment in the UK.


        Among the good news airbrushed out, there have now been the numerous pledges, from Mexico to India, to negotiate free-trade deals with the UK. At the G20, the Chinese president added his country to the list, despite uncertainty over Chinese investment in the Hinkley Point nuclear reactor. This is essential to driving Brexit’s virtuous cycle. The more Britain expands its global trade, the more competitive pressure is exerted on existing trade partners to preserve their UK market share, and the stronger the EU interest in minimising trade barriers.


        Opposition to tariffs on Britain from business groups such as Medef in France (with its 750,000 firms) and the German BDI (representing more than eight million employees) will help temper the risk of spiteful reactions to Brexit. Speaking in China, EU president Jean-Claude Juncker called for partnership, not revenge, while German European minister Michael Roth says that Britain’s size and status means it must be given “a special status” with the EU.

        Theresa May won the Conservative leadership as a “safe pair of hands” for uncertain times. It is telling and welcome that she now declares herself “optimistic” about Brexit. A shrinking minority won’t make their peace with the referendum. But Britain under May’s leadership looks increasingly well-positioned to grasp both the opportunities and mitigate the risks. This will be crucial to delivering Brexit in full and reducing the 48 per cent who counted themselves Remainers on June 23.
        Let us not forget EU open doors immigration benefits IT contractors more than anyone

        Comment


          A little bit of bad, a little bit of good...

          British manufacturing output fell in July at the fastest pace in a year, confirming earlier signs that factories took an immediate hit after the vote to leave the European Union, official data showed on Wednesday.

          Overall industrial output unexpectedly rose thanks to strong oil and gas production, boosting the chances that Britain's economy, while slowing, will avoid a recession.

          But sterling slipped after the figures which the Bank of England will see as consistent with its view that the economy is likely to slow sharply in the second half of 2016. BoE Governor Mark Carney is due to speak to lawmakers at 1315 GMT.

          Manufacturing output fell by a sharper-than-expected 0.9 percent in July following a 0.2 percent drop in June, the Office for National Statistics said.

          The official figures are the first to cover economic output solely for the period after the June 23 Brexit vote. Britain was plunged into political chaos in July by the referendum result before Theresa May took over as prime minister.

          "We maintain our view that UK industrial production and manufacturing remain a cause for concern," said economists Andrzej Szczepaniak and Fabrice Montagne at Barclays.

          A deep-seated lack of competitiveness in British manufacturing would be aggravated by doubts about the country's future trading ties if the government delays starting the formal process of leaving the EU, they said.


          May has said she will not start the process this year to give Britain time to prepare its exit strategy but she has also said it would not be "kicked into the long grass."

          Data released earlier on Wednesday showed German industrial output posted its steepest fall in 23 months in July. Economists said the German figures probably reflected concerns about the consequences of Britain's decision to leave the EU.

          Despite the hit in July, there have been signs of a rebound in Britain's economy. A closely watched survey by financial data company Markit, published earlier this month, suggested manufacturing, which makes up about 10 percent of the economy, jumped in August. There was a similar result in a survey of the dominant services sector.

          The ONS said on Wednesday that overall industrial output in July unexpectedly rose 0.1 percent on the month after stagnating in June, helped by oil and gas. Economists polled by Reuters had expected it to edge down 0.2 percent.

          Oil production was boosted by continued output at the Buzzard field in the North Sea which usually shuts down for maintenance in July but which will occur in September this year.


          Pharmaceuticals, which are often volatile, represented the main drag on manufacturing, but many other sectors fell too.

          The ONS said there was no sign of manufacturers getting an immediate boost from sterling's plunge since the Brexit vote as contracts are usually slow to respond to currency fluctuations.

          Other private sector surveys have suggested manufacturers have benefited the pound's plunge since June which has boosted export orders. However, there are also signs that import costs are rising fast - something that will squeeze profit margins, boost inflation and eat into spending power of consumers
          Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

          Comment


            Whatever the British haters think the UK has the credentials to forge ahead whereas there is no evidence in sight that the Eurozone will do anything other than decline.
            Let us not forget EU open doors immigration benefits IT contractors more than anyone

            Comment


              Originally posted by DodgyAgent View Post
              ...the British haters ...
              What a pathetic term to use.
              Who are these "British haters"?
              …Maybe we ain’t that young anymore

              Comment


                The UK represents around 1% of the total global population and yet; we produce 16% of the world’s published scientific papers, and we host 4 out of the world’s top 10 Universities.

                Then consider some of the inventions that have really shaped the world we live in today:

                Computers? Charles Babbage, British.

                Telephone? Alexander Graham Bell, British.

                World Wide Web? Tim Berners-Lee, British.

                Television? John Logie Baird, British.

                You can also add to that list radar, the endoscope, the zoom lens, holography, in vitro fertilisation, animal cloning, magnetically levitated trains, the jet engine, antibiotics and, indeed, Viagra!

                Some years ago, Japan’s Ministry of International Trade and Industry made a study of national inventiveness and concluded that modern era Britain had produced around 55% of the worlds ‘significant’ inventions, compared with 22% for the US and 6% for Japan. The point is that the Brits have a long history of innovation and it’s something we should be mightily proud of.
                Not forgetting that we are also currently the 2nd best team in the world at Olympic Events.

                Have a bit more faith in our ability. All will work out for the best. It is what we do!

                “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

                Comment


                  Originally posted by darmstadt View Post
                  A little bit of bad, a little bit of good...
                  Of course the economy is bumping along just fine, why wouldn't it?
                  We're in the EU, Jap car makers can sell into the single market of our biggest single trading partner, US banks can sell their services into the single market of our biggest single trading partner.
                  Of course business is booming.
                  Hard Brexit now!
                  #prayfornodeal

                  Comment


                    Originally posted by WTFH View Post
                    What a pathetic term to use.
                    Who are these "British haters"?
                    The same crossed my mind.

                    Comment


                      Originally posted by WTFH View Post
                      What a pathetic term to use.
                      Who are these "British haters"?
                      I think the opposite of "British haters" is "Fooking retards".
                      Hard Brexit now!
                      #prayfornodeal

                      Comment

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