Business and Economics

A UBS survey of 600 companies that spells out the reality of a Brexit "dividend" for British business could signal disaster if the government doesn't get a grip on the process soon, Professor Brian Cox has said today. The physicist posted results from a recent business survey that showed 35 per cent of companies plan to reduce UK investment post-Brexit. A further 41 per cent plan to move a large amount of capacity out of the UK and 42 per...

The UK motor industry has seen investment half in the first half of this year, according to the latest research from the Society of Motor Manufacturers and Traders (SMMT). During the first six months of this year, the SMMT found that investment has “stalled”, with just £347.3m earmarked for new models, equipment and facilities in the UK, around half the sum in the same period in 2017. The group’s demand for action followed the comments last week from CBI president, Paul Dreschler,...

Safeguarded jobs in the UK have fallen 54 per cent in the past year as the number of UK projects funded by Foreign Direct Investment (FDI) dropped nine per cent, the Department for International Tradrevealed today. Wales is the worst affected region, with projects down 33 per cent, Scotland has seen a 23 per cent fall, Northern Ireland an 18 per cent drop and London a 17 per cent decline. England has seen the number of projects rise slightly by...

CETA amounts to a full frontal attack on Parliamentary democracy and any concept of national sovereignty and makes a complete mockery of the Government’s oft-stated objective of ‘bringing back control’ says Union. GMB, Britain’s general union, has criticised a Government plan to sign away UK sovereignty in a mega trade deal without MPs having their say in Parliament. On June 26, the House of Commons will be asked to ratify the 2,255 page Comprehensive Economic and Trade Agreement (CETA) between...

The Government should write into law a positive definition of self-employment to provide clarity on who is and who is not genuinely self-employed, IPSE (the Association of Independent Professionals and the Self-Employed) has said. The call follows a decision in the employment tribunal today that a group of Hermes couriers were workers and not self-employed. GMB, the union for lifestyle couriers, scored a landmark legal victory against Hermes after an employment tribunal ruled their couriers are entitled to basic workers’ rights. The...

UK export growth is slowing while European exporters are starting to flourish again, according to the latest European Export Index. The latest findings from the quarterly index show that UK exports have fallen to their lowest level since Q1 of 2016, when uncertainty loomed ahead of the nation’s vote to leave the EU. The UK’s Export Growth Index, which charts annual growth in total exports, fell to 96.0 from 98.2 in the first quarter of 2018, creeping closer to the...

Airbus's announcement that it is weighing up its future in the UK has sent shockwaves across the political spectrum today. With no assurances over Britain's future trading arrangements the boss of one of the world’s biggest aircraft manufacturers warned that Brexit would have "severe negative consequences for the UK aerospace industry and Airbus in particular". He said that Airbus has repeatedly been demanding clarity from Theresa May’s government over what trading arrangements will be available with Europe in March 2019,...

The boss of one of the world’s biggest aircraft manufacturers today warned that in any scenario Brexit would have "severe negative consequences for the UK aerospace industry and Airbus in particular." He said that Airbus has repeatedly been demanding clarity from Theresa May’s government over what trading arrangements will be available with Europe in March 2019. He warned that without a clear government strategy the aviation multinational would have to take steps to protect production, putting 100,000 jobs in the...

A hospitality leader has warned that there is likely to be severe workforce shortages in the industry unless action is taken. Kris Gumbrell, CEO of Brewhouse & Kitchen, says the loss of free movement will undoubtedly cause big issues in the hospitality sector which has a heavy reliance on European workers. A KPMG report for the British Hospitality Association found that EU nationals made up more than 75 per cent of waitstaff, as well as 43 per cent of the...