Economics

Jaguar Land Rover's announcement that it plans to axe up to 5,000 jobs shows a "Brexit bomb is exploding over Britain’s manufacturing industry", The Independent's Chief Business Commentator James Moore has said. The car manufacturer said it will be making thousands of job cuts in the new year as part of a £2.5 billion savings plan to ward off the threat from Brexit, falling sales in China and a drop in demand for diesel cars. Britain’s biggest carmaker employs 40,000 in the...

It isn’t good news for travellers at UK airports as tourists are being offered almost one pound for one dollar. The rate is always poor at airports compared to other currency exchange outlets,however this is a clear indication of the trouble sterling is in. Those exchanging pounds at the UK's biggest airport, Heathrow, are finding as little as $1.05 coming back across the counter. Since 16 April the pound has fallen by 11.77% against the US dollar. In some currency...

Uncertainty caused by Brexit is causing buyers and sellers to sit tight in increasing numbers across the UK, according to the November 2018 RICS UK Residential Market Survey. Looking at London, the results from the latest survey continue to show a weaker trend in sales with demand and supply falling once again, as almost half of respondents to the survey across the UK as a whole cite political uncertainty caused by Brexit as impacting the UK housing market.  The number...

Sterling fell to a new 20-month low against the Dollar on Tuesday and it looks like the on-going turmoil is not going to steady the currency for the foreseeable future. Compared to the Euro it was at a three and a half month low. Now with the PM facing a vote of no confidence, the stormy financial weather looks set to continue. Commenting on Sterling’s performance in the wake of the no-confidence announcement, Andy Scott, Associate Director at JCRA, the...

The pound fell to an 18 month low against the dollar after Theresa May called off a vote in Parliament on her Brexit plan. May is now seeking to reschedule the vote on the terms of the U.K.'s exit from the European Union. However, the uncertainty meant the pound fell 0.5% versus the dollar to $1.2664. Commenting on the fall in Sterling following Theresa May’s plans to delay Parliament’s meaningful vote on her Brexit deal, Andy Scott, Associate Director at JCRA,...

The pound is shackled by Brexit drama, is locked in a holding pattern, and nothing is currently priced in, warns the CEO of one of the world’s largest independent financial advisory organisations. The warning from Nigel Green, founder and chief executive of deVere Group, comes as sterling remains vulnerable to every twist and turn to the political saga over the UK’s exit of the European Union. Mr Green comments: “The pound has been and remains the primary market bellwether since...

The warning came after four gangsters were jailed for 15 years after tricking Chinese students into giving them access to their bank accounts.

Ending the free movement of labour from Europe could create a major shortage of workers, especially in South-East England, according to a new study on the impact of Brexit. Researchers also found existing employment rights are likely to remain “more or less intact” after Brexit, as many UK laws exceed the minimum standards required by EU employment directives, while leaving the EU is unlikely to have a large impact on UK employment policy or collective representation by trade unions. Both...

The near future of the global economy looks "extremely bleak," according to state of the art statistical analysis of the influential S&P 500 stock market index by nuclear scientists