Business and Economics

The price of chips could soar as Brexit and Russian Crimean tensions have left a shortage of potato pickers in Jersey, farmers say. Other factors including an improving economy in Poland and a pound that has been weakening since 2016’s EU referendum have also led to a lack of migrant workers on the island - the home of the Royal potato. Traditionally farms have relied on seasonal potato pickers from the EU, but Brexit uncertainties have made it far harder...

Jagaur Land Rover is feeling the squeeze and is about to slash 5,000 jobs due to a decline in diesel sales in Europe and Chinese sales. However, Brexit could cause the company even worse trouble claims the Business Secretary, Greg Clark. Clark believes that a No Deal Brexit would do “extra damage” to the car maker just as it is going through a troubling period. Thousands of jobs are reported to be cut, mainly in management, marketing and administrative roles,...

Banks and financial institutions have shifted at least $1 trillion worth of assets out of the UK and into the European Union because of Brexit, EY have claimed in a report published this week. Many banks have set up new offices in Europe to safeguard their regional operations, which means they have moved substantial assets over to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation. In total at least £800 billion...

The Nationwide building society has reported that compared with a year earlier there was a house price rise of only 0.5 per cent in December, the lowest level since February 2013. The lender believes that uncertainty over the economic outlook is hampering confidence in the housing market. London and surrounding areas saw a small fall in house prices in 2018. The average house price in the UK in December 2018 was £212,281 compared to £211,156 in December 2017. Northern Ireland...

As if you weren’t feeling rubbish enough after going back to work, the news that top bosses have already made more than the average salary for the year already, is unlikely to fill you with joy..Unless of course you are a CEO. Chief executives of FTSE 100 firms have average pay packets £3.9 million, around £1,000 per hour and are now paid 133 times more than the average worker. So when the clock strikes 1pm they have made the money most...

Leading economists have warned Brexit will be either ‘bad or awful’ for UK prospects in 2019 with damage likely to be inflicted even if Britain manages to avoid a disorderly Brexit. The UK can expect no more than 1.5 per cent economic growth over the next year in the best case scenario, according to a Financial Times survey. Nina Skero, head of macroeconomics at the Centre for Economics and Business Research, said that whatever its long-term effects, “in 2019, Brexit...

UK companies in the manufacturing and service sector have indicated that they are struggling to recruit skilled staff because of uncertainty around Britain's future with the European Union.  Brexit has been blamed as 81 per cent of manufacturers and 70 per cent of service sector firms report difficulties recruiting the right skilled staff for their organisations. At the same time they are being hit with rising costs and a reduction in sales. This perfect storm could send many businesses to...

There has been widespread public outcry after a shipping contract was handed out to a company, with no ships or experience of running a shipping line, in no Brexit deal scenario.  Transport Secretary Chris Grayling claimed it was fine to hand out the £13million contract because "it's a new start-up business" He said it was "no problem" despite Seaborne Freight being expected to run emergency ferries if there's no deal over Brexit and would be running essential services to keep...

Brits take an average of FOUR days to get 'back in the saddle' after the holiday period, according to a survey. A study of 2,000 adults shows the majority of us won’t start functioning properly until almost a full working week has passed. Re-adjusting to early mornings, the mountain of work which has piled up over the festive break and having to deal with challenging clients all take their toll in early January. Others find it hard to get in...