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British Steel Enters Insolvency, Putting 25,000 Jobs At Risk
British Steel is to go into official receivership after failing to secure funds for its future, putting up to 25,000 jobs at risk. It follows last-minute talks held on Tuesday between Unite union and Business Secretary Greg Clark, to urge owner Greybull to find a solution. On Wednesday, Clark said he had been advised it was “unlawful” to provide financial support “on the terms of any proposals that the company or any other party has made”, in comments echoed by the prime minister. Clark said in a statement: “The government has worked tirelessly with British Steel, its owner Greybull Capital, and lenders to explore all potential options to secure a solution for British Steel. “We have shown our willingness to act, having already provided the company with a £120 million bridging facility to enable it to meet its emissions trading compliance costs
22nd May 2019 - Huffington Post UK
British Steel should be nationalised, urges Labour
22nd May 2019 - BBC
Britain sacrifices steel industry to curry favour with China
22nd May 2019 - The Telegraph
'I’m worried sick': Scunthorpe frets over British Steel slump
22nd May 2019 - The Guardian
British Steel collapses 'over Brexit' with 25,000 jobs at risk
22nd May 2019 - Evening Standard
520 jobs at risk as Sir Philip Green plans 23 store closures
Sir Philip Green is on course for a fresh clash with regulators after his Arcadia retail empire launched a rescue plan which would see 23 stores shut and its pension scheme contributions slashed. Restructuring proposals by the group - whose brands include Topshop, Burton and Dorothy Perkins - would result in 520 jobs being put at risk. It is also seeking to slash rents at 194 further sites in the UK and Ireland as it faces up to a "highly competitive retail environment". Proposals announced by the company would in addition see Arcadia halve its annual payments to the company's pension scheme to £25m, with Sir Philip making up the shortfall by injecting a total of £100m over the next three years.
22nd May 2019 - Sky News
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Gill Furniss: 'Give the steel industry support and it can still thrive'
News that the Government is drawing up contingency plans for a British Steel collapse will have come as a shock to thousands of workers who have worked against the odds to defend the company’s future. Despite the sector’s best efforts, the Government’s failure to support this vital industry has resulted in the pressures becoming too great to absorb. To compete in a post-Brexit world, we must support and encourage our manufacturing industries. The future could be bright for UK steel as the Government’s own analysis identified a £3billion opportunity by 2030, sustaining good jobs in areas that need them most.
17th May 2019 - Daily Mirror
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Merthyr Tydfil Hoover jobs could move to Warrington
About 45 jobs are at risk at Hoover Candy's head office in Merthyr Tydfil. Hoover's parent company Haier Electronics is looking to centralise parts of it operations in Warrington by spring 2020. The Chinese company said it has begun a consultation process with those employees at risk of redundancy and their representatives. A distribution centre, which employs about 60 staff, is set to remain at the south Wales site. A Hoover spokesman said: "As part of the company's wish to centralise some functions and support our long-term expansion plans, some jobs may move to our new offices in Warrington, over the next year.
14th May 2019 - BBC
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Swindon Honda closure 'a body blow', says Unite
Honda's decision to close its Swindon plant is a "body blow" and a "betrayal", a union has said. The Japanese car maker said a three-month consultation produced "no viable alternatives" to its plan to close the factory in 2021. It added talks to agree redundancy packages with the 3,500 workers would "begin immediately".
Unite national officer Des Quinn said the union would speak to members about next steps. A proposal to cease production of 160,000 Honda Civics a year was confirmed in February. Honda UK director Jason Smith said the decision was taken with a "heavy heart". "We understand the impact this decision has on our associates, suppliers and the wider community," he said. "We are committed to continuing to support them throughout the next phases of the consultation process."
13th May 2019 - BBC
Honda to close Swindon plant by 2021 with loss of 3,500 jobs
13th May 2019 - The Independent
Honda confirms it WILL close Swindon factory putting 3,500 jobs at risk
13th May 2019 - Daily Mirror
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Brexit Poses An Unprecedented Threat To Maternity Care
Where we used to attract European midwives and nurses, we now repel them – as well as hundreds leaving the NHS, just 33 registered to join us in the last year. As the chief executive of the Royal College of Midwives, the biggest threat to the provision of maternity care I’ve witnessed first hand is the almost-total collapse in the number of midwives trained on the Continent coming to the UK to work in the NHS. In the twelve months to March last year, just 33 individuals who’d trained elsewhere in the EU registered to practice as midwives here in the UK. Before, it would have been hundreds.
And what’s more, the number of EU midwives leaving has shot up. We used to attract European midwives and nurses; we now repel them. Make no mistake about it. Brexit poses an unprecedented threat to maternity care in our country.
5th May 2019 - Huffington Post
Bumper British strawberry crop may rot as EU pickers stay away
The fallout from Brexit, which has left many eastern European workers feeling that they are more welcome in other European member states, is also a concern. The Department for Environment, Food and Rural Affairs recently provided them with brochures in Romanian and Bulgarian declaring that the UK is open to foreign workers. But an expanding Romanian economy has seen fewer workers leave their home. A sizable drop in the number of workers returning year on year has also become apparent in figures collated by the NFU. “Workers from Romania are no longer earning six times what they would back home,” Maurel said. “It’s more like three and a half times. That makes a difference.” It is predicted that apple growers will be worse hit by the labour shortage than berry growers as they will need fruit pickers in the late autumn, when many Romanians choose to return home having earned the maximum they can make before paying tax.
4th May 2019 - The Guardian
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Bombardier puts Belfast aerospace business up for sale
Bombardier plans to sell its operations in Northern Ireland, where the Canadian aerospace group is one of the biggest employers with a workforce of 3,600. The decision to dispose of the Belfast-based aerostructures business comes at a sensitive time for the UK, which is grappling with the impact that Brexit could have on Northern Ireland. Bombardier has previously warned of the consequences of a hard Brexit for its operations in Belfast — a threat that could now complicate the sale process.
2nd May 2019 - Financial Times
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Jaguar to move Land Rover Defender production to Slovakia
British carmaker Jaguar Land Rover (JLR) will move the assembly of its Land Rover Defender to its plant in Slovakia to make room for newer models at its factory in Britain, the company said on Tuesday. The Defender 4X4, which is designed and engineered in Britain, will be unveiled later this year, JLR, owned by India’s Tata Motors, said. “This decision is in parallel with plans for significant investment at the company’s Solihull plant in the UK to support the production of the next generation of flagship Range Rover and Land Rover models,” JLR said.
30th Apr 2019 - Reuters
JLR to build new Land Rover Defender in Slovakia
30th Apr 2019 - BBC
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Port Talbot steelworks blasts rock town and injure two as locals report ‘huge explosions’ at Tata plant
Two people have been injured after a huge blast at Britain's biggest steel plant rocked Port Talbot this morning. Emergency crews rushed to Tata Steelworks in the South Wales town after a deafening explosion shook homes and woke locals at around 3:35am.
26th Apr 2019 - The Sun
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Halloween Brexit gives JP Morgan bankers with 'suitcases by the door' extra time
Hundreds of JP Morgan bankers have been given a six month breather after being told to sign new EU contracts and have their “suitcases by the door” if there’s a no-deal Brexit. The delay of Brexit until Halloween means that around 300 investment bankers no longer have to sign the contracts and might not need to relocate to an EU hub such as Paris or Frankfurt after the UK’s exit after all, insiders said. “All the people were ready to go with suitcases by the door as if they were about to go into labour,” one senior banker said. “They don’t need to go now. It’s on ice.” The Wall Street bank asked the bankers to sign the contracts confirming they would move “at short notice” last month
21st Apr 2019 - The Telegraph
Brexit inertia means London's finance workers face summer slump
With Brexit on ice until as late as October 31 and the terms of the exit still to be agreed, fears are building that this could be one of the leanest years for the City since the aftermath of the 2008 financial crisis. The London Stock Exchange has had only one corporate listing in excess of 75 million pounds ($97.61 million) so far this year. Trading turnover on the London Stock Exchange in February and March was down a third from a year ago, and the lowest since August 2016.
18th Apr 2019 - Reuters
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Car components firm Calsonic Kansei shedding nearly 100 jobs at its Llanelli plant
The Welsh automotive sector has suffered a further blow with Japanese firm Calsonic Kansei announcing redundancies at its Llanelli plant. The factory, which supplies heat exchange, air conditioning, exhaust and electronic components to manufacturers globally, has confirmed that 95 jobs are at risk following a "significant drop in sales." Late last year the operation secured a £4.4m grant investment from the Welsh Government which it said would help create a further 88 jobs over the next five years, with a focus on developing and producing electric vehicle technology.
16th Apr 2019 - Wales Online
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Brexit: British Steel seeks £100m government loan to meet EU rules
British Steel is seeking a £100m loan from the government in order to meet EU emission rules. Previously, the company could have used EU-issued carbon credits to settle its 2018 pollution bill. However, the steel maker has been affected by a European Union decision to suspend UK firms' access to free carbon permits until a Brexit withdrawal deal is ratified. The company is in talks with Department for Business about financial help. The Department for Business, Energy and Industry Strategy told the BBC: "As the business department, we are in regular conversation with a wide range of sectors and companies." British Steel has until 30 April to comply with EU emission rules.
13th Apr 2019 - BBC
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Jaguar Land Rover begins Brexit shutdown as sales fall
JLR’s factory shutdowns began as the carmaker, which is owned by the Indian conglomerate Tata, released full-year results. JLR sold 578,915 vehicles globally in the year to March, down 5.8%. In March alone, sales fell 8.2%, mainly because of an 11.4% decline at Land Rover, while Jaguar recorded a 0.2% dip. The carmaker blamed weaker demand in China, whose economy has slowed sharply. JLR sales in China slumped 34%, while sales in Europe were down 4.5% because of uncertainty around the future of diesel vehicles, and the impact of new emissions legislation. The effects of the fuel efficiency and emissions testing procedure, called WLTP, have been felt across the industry.
8th Apr 2019 - The Guardian
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Brexit: Revoke Article 50 if deal fails, Theresa May urged
Manufacturers are calling on Theresa May to revoke article 50 if she can’t strike a Brexit agreement next week, in the latest sign that the looming possibility of Britain leaving the EU without a deal is hammering confidence in the sector. Make UK, the lobby group that represents 20,000 manufacturing firms, last night wrote to May and Jeremy Corbyn, the Labour leader, saying it is “critical for the future of UK manufacturing businesses and their workforces that we bring the current uncertainty to an end”. The letter from Make UK’s chief executive, Stephen Phipson, seen by The Sunday Times, comes after two-thirds of the group’s members backed revocation of article 50 if May does not reach a deal by the new deadline of April 12.
6th Apr 2019 - The Times
Jaguar Land Rover to start Brexit shutdown
Jaguar Land Rover is to shut down production for a week because of uncertainties around Brexit. It will affect thousands of staff at Castle Bromwich, Solihull and Wolverhampton in the West Midlands, and Halewood on Merseyside, from Monday.
The shutdown is in addition to a scheduled closure the following week for Easter.
Unite the union said the move was agreed in January when the UK was due to leave the EU on 29 March. The company said it needed more certainty around Brexit, and warned that a "no-deal" Brexit would cost it more than £1.2bn in profit each year.
7th Apr 2019 - BBC
Dairy farmers: No-deal Brexit could put us out of business overnight
People living and working on the Irish border say they have no option but to prepare for a no-deal Brexit on Friday. Northern Irish farmers fear an immediate loss of trade with the Republic could put hundreds of them out of business overnight. Damian McGenity, a part-time farmer from Jonesborough, one mile on the northern side, says the economic impact would be "catastrophic".
7th Apr 2019 - Sky News
Dudson: More than 300 jobs go at Stoke-on-Trent pottery firm
Jobs are lost with immediate effect as 200-year-old Dudson in Stoke-on-Trent collapses. Representatives from the GMB union said staff were told to leave the premises "with no notice whatsoever" and called it a "devastating blow". Administrators PWC said it was "not commercially viable to continue trading the company". A total of 318 people have been made redundant with immediate effect.
In March, Wedgwood - another of the city's potteries - announced plans to cut its workforce by about a third.
5th Apr 2019 - BBC
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Brexit still pushing financial jobs from UK to EU - think tank
Financial firms in Britain continue to shift business to new European Union hubs and won’t stop unless Brexit is cancelled, a think tank told British lawmakers on Wednesday. William Wright, head of New Financial, said its study published on March 11 showed that 275 financial firms were moving some of their business, staff or assets from Britain to hubs in the EU to avoid Brexit disruption. “Since the report was published we have found another 14 firms have set up new entities,” Wright told a House of Lords committee.
3rd Apr 2019 - Reuters
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Ford to take 'long hard look' at UK future in no-deal Brexit
Ford has stepped up warnings over a no-deal Brexit, saying it would take a "long hard look" at its UK operations in that event. As Theresa May scrambles to find a way forward following a series of "no" votes on Brexit options in parliament, the chairman of Ford Europe told Sky's Ian King Live the company had a duty to protect itself from the prospect of becoming uncompetitive. Steven Armstrong said Ford, which employs just under 13,000 staff in the UK including workers at its Dagenham and Bridgend engine plants, had already spent tens of millions of euros preparing for no-deal.
2nd Apr 2019 - Sky News
Brexit leaves Ford at crossroads on long-term British plans
Ford is spending tens of millions of euros preparing for a possible British exit from the European Union without a trade deal and has yet to decide on its longer-term plans for Britain, Ford Europe chairman Steven Armstrong said on Tuesday. “We love being in Britain, but it has to be competitive and if it’s not competitive then we’ll have to take whatever actions we’ll need to take to protect the business,” Armstrong told Reuters at an event in the Netherlands. Ford, which makes 1.3 million engines at two British locations, Bridgend and Dagenham, and cars in Germany, has warned it could face $1 billion in tariff costs in case of a so-called hard Brexit. While the company has announced 5,000 job cuts in Germany, its second-biggest European market, it has yet to make major decisions in Britain, which is its biggest.
2nd Apr 2019 - Reuters
UK business: 10 dire warnings about Brexit
Frustration is now boiling over. Here are 10 of the most dire warnings about Brexit from business leaders this list includes: Siemens, Easyjet, Citigroup, Airbus, McDonalds, Sony, Nissan, Ford, BMW, Schaeffler
2nd Apr 2019 - CNN
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Banks keep options open and hold fire on Brexit exodus
The City of London’s biggest international banks have moved fewer than 1,500 jobs from the UK in the run-up to Brexit, after slashing their estimates of the staff they need onshore in the EU after Britain leaves the bloc. Financial Times research shows top lenders are preserving as much optionality as possible by moving fewer people from the UK to the 27 other EU countries as they strive to avoid costly actions while grappling with deepening political uncertainty. London’s top 15 international banks have collectively cut fewer than 3,500 jobs in the UK capital since the Brexit vote in June 2016, amounting to about 5 per cent of their City headcounts. Fewer than 1,500 of those moves were linked to Brexit, interviews with senior bank executives have revealed.
1st Apr 2019 - Financial Times
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Honda workers join protest march against Swindon car factory closure
Union officials will go to Japan to ‘press’ company bosses over jobs losses, says Unite chief Len McCluskey
30th Mar 2019 - The Independent
@OliDugmore Good morning from Swindon. Demonstrators are gathering to protest the loss of 3,500 jobs as a result the closure of the town’s Honda factory. – at County Ground
30th Mar 2019 - @OliDugmore
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Daffodil and coffee worker shortages amid Brexit uncertainty
Brexit has been holding back recruitment, with curbs on EU immigration likely to damage the farming industry's growth, union bosses have said. A drop in seasonal workers driven by Brexit has left daffodil growers struggling to harvest their fields amid warnings that crops will "almost certainly" be lost as the year progresses. The daffodil season, which lasts from January to April, contributes about £45m a year to the UK's economy. The National Farmers Union (NFU) said uncertainty over the value of the pound and the future ability of staff to work in the UK after Brexit has resulted in a significant drop in pickers choosing to come to the UK.
27th Mar 2019 - Sky News
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Brexit turmoil hits UK firms' hiring plans - REC
British companies have scaled back sharply their hiring and investment plans amid the growing turmoil around Britain’s exit from the European Union, a survey showed on Wednesday. More firms were downbeat about the outlook for jobs and investment than were optimistic for the first time since the Recruitment and Employment Confederation began its surveys in June 2016, the month of the Brexit referendum. Nearly three years on, it remains unclear how, when or even if Brexit will happen.
27th Mar 2019 - Reuters
Brexit jitters fingered as UK consumer PC sales collapse
PC and Laptop Sales into the retail market sunk 25% during Jan and Feb... UK PC volumes via distributors fell 7 per cent to 538,000 for January and February: business machines went up 4.5 per cent to 361,000 but those to consumers declined 25 per cent to 176,000.
26th Mar 2019 - The Register
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JPMorgan Said to Push 300 to Leave U.K. in No-Deal Brexit
JPMorgan Chase & Co. is pushing about 300 London-based investment banking staff to sign fresh contracts confirming they’ll leave the U.K. in the event of a no-deal Brexit, people familiar with the matter said. The employees, who work in areas such as sales and risk, have been presented with contracts in the last week that demand they relocate to a European Union country such as Germany or France in a no-deal scenario, the people said, declining to be identified as the details are private. A spokesman for JPMorgan in London declined to comment.
25th Mar 2019 - Bloomberg
JP Morgan asks 300 staff to leave UK in event of a no-deal Brexit
Hundreds of JP Morgan staff have been asked to relocate out of the UK "at fairly short notice" in the event of a no-deal Brexit. Around 300 investment banking staff will have to sign new contracts in the coming weeks confirming whether or not they will relocate abroad. Sources said if they refused, the bank would try to find them an alternative role.
25th Mar 2019 - The Telegraph
Finance sector hopes for smooth Brexit, plans for the worst
Senior executives describe as “planning for the worst, while hoping for the best” — include buying and leasing property in continental Europe, applying for new or upgraded licences in EU countries, transferring and hiring hundreds of staff, transferring business to new legal entities, and sending thousands of letters to clients about new arrangements. Costs for individual companies have run to the hundreds of millions of pounds. “We would say that we are Brexit-ready at Lloyd’s, that would [also] be true for the other major cross-border insurance companies,” says Bruce Carnegie-Brown, chairman of Lloyd’s of London, the specialist insurance market. “We got cracking on this really very quickly after the referendum and began by thinking about where we would need to be domiciled in the EU in the event of a hard Brexit.”
25th Mar 2019 - Financial Times
Brexit: JoJo Maman Bebe founder says retail confidence hit
A leading Welsh businesswoman has said she is convinced Brexit uncertainty is stalling business growth. Laura Tenison, founder of JoJo Maman Bebe, said consumer confidence was at an all-time low. The clothing and accessories company has been growing at 20% a year and has the capacity to send out 6,000 parcels a day, but is now down to about 2,000 a day. She said it has been "extremely tough" for the retail sector. "Until about six months ago we were doing well, we continued to grow, but recently the lack of consumer confidence is so apparent, people don't know when their job stability is going to be given back to them," she said.
25th Mar 2019 - BBC
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INEOS threatens to close UK plant unless it can dodge EU pollution rules
Top Brexiteer Sir Jim Ratcliffe (leaving UK to live in France) runs INEOS. He said it could close its Middlesbrough manufacturing plant unless it is allowed to ‘defer compliance’ with EU rules designed to prevent air and water pollution, according to documents obtained by Unearthed. An analysis of data from the Environment Agency (EA) also reveals the plant clocked up 176 permit violations between 2014 and 2017, 90 of which related to air and water emissions. An EA spokesperson said: “air emissions are well over legal limits and this poses a risk to the environment”.
23rd Mar 2019 - Unearthed
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City jobs market 'in slow motion' as Brexit uncertainty hurts banking sector
Founder and chief executive Robert Walters said political uncertainty had negatively impacted recruitment in the City as firms and candidates craved clarity.
“It’s impacted confidence, the London jobs market has gone into slow motion, it’s not frozen as there is still plenty going on but it’s like walking through treacle at the moment," he said. “Doom and gloom is not the right phrase, it’s just a ‘rabbit caught in the headlights.’” The recruitment veteran said no specific city had emerged as a rival to London despite a significant amount of relocation activity.
20th Mar 2019 - City A.M.
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Dawnus administrators cite Brexit
Administrators for Welsh construction group Dawnus say that while Brexit did not directly cause the business to fail, it made it harder to save. Whilst the financial difficulties of the group were not a consequence of Brexit, there is no doubt that Brexit uncertainty impacted the ability to rescue the business,” said administrators - 700 people are affected across a number of sites in the UK
18th Mar 2019 - Construction Index
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Domestically focused UK stocks are mired in gloom
British companies that generate most of their revenues in their home market are experiencing their worst share price performance since they were first hit by the UK’s decision to leave the EU nearly three years ago. The FTSE Local UK index — which measures the performance of listed companies generating at least 70 per cent of their revenue in the UK — is more than 20 per cent lower than it was on referendum day relative to the FTSE 100, which is dominated by companies that operate worldwide. The FTSE 100 index tends to move inversely to sterling, as weakness in the pound helps to boost the value of its members’ overseas revenues. Meanwhile, the FTSE Local UK is more exposed to the nation’s economic prospects.
18th Mar 2019 - Financial Times
Brexit moves ‘will reduce UK tax base, influence and jobs’
To date, 269 UK financial companies have relocated parts of their business, moved staff or set up legal entities in the EU, according to New Financial, a London consultancy. New Financial has also identified almost 100 more financial groups that will need to act at some point but have not yet done so. Asset managers have been among the most active movers with 69 expanding their presence in the EU, mainly in Dublin and Luxembourg. William Wright, co-founder of New Financial, said the available data “significantly understated the real picture” as many companies have not disclosed their Brexit response. “The final tally is likely to be much higher, which will reduce the UK’s tax base, supervisory influence and ultimately have an impact on jobs,” said Mr Wright. The UK’s trade surplus in financial services with the EU will also shrink as more business shifts from London.
18th Mar 2019 - Financial Times
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UK firms react with fury to 'cack-handed' no-deal Brexit plan
Allie Renison, head of Europe and trade at the Institute of Directors, said that while cutting tariffs unilaterally was a necessary and welcome part of a country’s trade policy, the government had failed to do it in an open and consultative way. “The belated, cack-handed way in which the government has handled its no-deal planning is one of the main reasons why many businesses will not be prepared for this outcome by 29 March,” Renison said. “Politicians should be under no illusion: this package of mitigating measures do not help make the case for no deal. They are rather a reminder of the spike in invidious choices we would face as a country amidst a backdrop of chaos.”
13th Mar 2019 - The Guardian
No-Deal Brexit Would Decimate Britain's Auto Industry, Or Maybe Not
Forbes questions some of the assumptions that underpin the Moody's and Fitch reports into the prospects of the UK automotive sector under a No Deal Brexit scenario. The author feels initial trade disruption would spark an agreed solution 'of sorts' pretty quickly and a set of agreed tariff rules would reduce the sting until a full agreement could be reached. Therefore, he believes the impact predicted by Moody's and Fitch is overstated at best
13th Mar 2019 - Forbes
WATCH: No-deal Brexit TV advert compared to Dad's Army
The government’s no-deal TV adverts have been compared by Labour to Corporal Jones’ warnings in Dad’s Army not to panic. But shadow Cabinet Office minister Jon Trickett said the possibility of “thousands of job losses” is “no joke”. He told the Commons today: “The country is hanging on a no-deal cliff-edge, and today we read the government’s latest idea; a ludicrous TV advert saying to the public from Friday onwards ‘don’t panic’. “A bit like Corporal Jones in Dad’s Army. But this is not the Home Guard in the 1940s is it? And the prospect of thousands of job losses and the shortages of food and medicine and so on, it’s no joke.”
14th Mar 2019 - The New European
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House of Commons Public Accounts Committee confirms RHA Brexit fears
RHA chief executive, Richard Burnett said: “For the past 18 months we have strongly voiced our concerns to government officials, specifically to the Secretary of State for Transport, Chris Grayling. Each time our concerns were met with the same response: that UK international hauliers had nothing to worry about. “We have never shared Mr Grayling’s optimism and this report confirms our doubts.”
To quote from the report: The Department for Transport has failed to make timely preparations to procure the additional freight capacity needed to transport critical goods. The Department’s procurement approach has been rushed and risky and preparations have been conducted in secrecy with inadequate stakeholder engagement. “We could not agree more,” Richard Burnett continued. “The road freight industry relies on accurate planning yet with only 13 working days until Brexit we are still in the dark about future border crossing procedures. Our pleas for clarity have been constant – yet none has been forthcoming.
12th Mar 2019 - Politics Home
Nissan to stop manufacturing Infiniti models in Sunderland, 250 jobs affected
Nissan has said its Infiniti Q30 sedan and QX30 SUV will no longer be produced in Sunderland. The company said by the middle of 2019 manufacture will cease, as it plans to exit western Europe early next year and turns its attention to sales in the world’s two biggest car markets instead. Infiniti has around 250 employees working on it in the Sunderland plant. Nissan said it is working to find alternative opportunities for staff, consulting with employee representatives where necessary and identifying opportunities for transition and training support where appropriate.
12th Mar 2019 - Daily Mirror
Nissan’s luxury brand Infiniti leaves Britain
Workers at Britain’s biggest car plant received more bad news yesterday when Nissan’s luxury Infiniti division said that it would halt production in Sunderland within months. Trade union leaders sought urgent assurances over the fate of about 200 jobs at the site. Executives said that they were “working to find alternative opportunities” for all affected staff. The carmaker has decided to shift production of its Q30 model to Japan amid weak sales in western Europe. Work is due to conclude in Sunderland “by mid-2019”. About 5,000 had been manufactured at the plant each year.
13th Mar 2019 - The Times
Brexit uncertainty prompts more UK firms to prepare for job cuts
Growing numbers of British companies are preparing to cut jobs or put hiring plans on hold as Brexit uncertainty intensifies, in the latest sign of stress on the economy.
In an indication that Britain’s long jobs recovery since the financial crisis is gradually running out of steam as Brexit nears, IHS Markit said UK employers’ staff-hiring intentions had reached a six-year low in February. A separate survey of more than 2,000 firms by the employment agency ManpowerGroup found that growing numbers of companies were preparing to cut jobs across the country.
12th Mar 2019 - The Guardian
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No-deal Brexit could cost Japanese carmakers in UK $1bn a year
A no-deal Brexit would cost Japanese carmakers in Britain more than $1bn a year if 10% tariffs were imposed on trade between the UK and EU, new analysis from Moody's indicates
11th Mar 2019 - The Guardian
No-deal Brexit tariffs would hit automakers, warns Moody’s
11th Mar 2019 - Financial Times
How the City has moved £900bn out of UK already to prepare for Brexit
Banks, asset managers and insurers have already moved nearly £1 trillion of assets out of the UK and to other European countries ahead of Brexit, with more likely to be shifted in coming months, according to new research.
11th Mar 2019 - The Telegraph
Up to 1,000 vehicle repair companies could collapse within 2 weeks of a no-deal Brexit
Up to 1,000 companies in the UK vehicle repair industry could collapse within two weeks of a no-deal Brexit, with many more forced to close within a month, according to leaked minutes from a meeting of leading industry figures seen by Business Insider. The UK vehicle crash repair industry — which is comprised of around 3,000 companies and employs an estimated 35,000 people nationwide — relies heavily on car parts imported through "just in time" supply chains. Repairers need to complete jobs quickly — not just to keep their cashflow going, but also to ensure they have enough courtesy cars for customers. Repairers effectively work to a one repair in, one completed repair out system.
11th Mar 2019 - Business Insider
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Japanese drugmaker moves European HQ from London over Brexit
A Japanese pharmaceutical company that based its European headquarters in London five years ago and was praised for doing so by then London mayor Boris Johnson, is now planning to move the base to the Netherlands in preparation for Brexit. Shionogi’s planned move makes it the latest in a string of Japanese companies — including Panasonic and Sony — looking to restructure their European operations to insulate themselves from disruption caused by Britain’s departure from the EU.
10th Mar 2019 - Financial Times
Lakeland Dairies: Dairy giant warns of Brexit impact
Brexit could hit the bottom line of a huge new cross-Irish border dairy business, its boss has said. Michael Hanley is the chief executive of Lakeland Dairies. It has just merged with another big player in the Northern Ireland milk market - LacPatrick - to create a new venture. Mr Hanley said Brexit would mean extra costs, build inefficiency into the business and could reduce profits
7th Mar 2019 - BBC
Brexit fallout on UK finance intensifies - think tank
More than 275 financial firms are moving a combined $1.2 trillion (£925.4 billion) in assets & funds and thousands of staff from Britain to the European Union in readiness for Brexit at a cost of up to $4 billion, a report from a think tank said on Monday.
11th Mar 2019 - Reuters
Northern Ireland firms warn of economic, social risks from no-deal Brexit
Northern Ireland businesses urged British lawmakers on Sunday to seek a compromise over the country’s departure from the European Union and avoid the economic and social risks the province faces in crashing out of the bloc without a deal. Ahead of a vote on Tuesday on the divorce agreement struck with the bloc last year, more than 50 businesses warned members of parliament in an open letter of the dangers of failing to unite behind a way forward that avoids a hard border and protects peace and economic progress in Northern Ireland.
10th Mar 2019 - Reuters
Foreign Secretary Jeremy Hunt sparks oil and gas row with Brexit deal vow
An industry report has suggested WTO-style tariffs could add £500 million to the sector’s annual EU trade bill. The prospect of more customs red-tape has led to fears that equipment imported from Europe will be delayed. With EU nationals accounting for 5% of oil and gas workers in the UK, the industry is also anxious to protect its workforce. On the question of tariffs, Mr Hunt said there would be “clarity” on the issue if Mrs May’s deal is backed by parliament on Tuesday.
8th Mar 2019 - Press and Journal
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UK automotive industry warns of Brexit exodus
Almost three quarters of automotive businesses expect to move part of their UK operations overseas in the next three years, according to a study by leading independent law firm Brabners. The new research, conducted with senior leaders from across the UK’s automotive supply chain, found that nine in 10 viewed the EU as the most attractive destination if they were to relocate part or even all of their UK operations.
7th Mar 2019 - Manchester Evening News
UK firms hold off on permanent hires as Brexit nears - survey
British employers held off from hiring permanent staff in February, adding to signs of growing nerves ahead of Brexit in the country’s otherwise strong labour market, a survey of recruiters showed on Friday. February’s reading was the second-weakest survey reading since the shortly after the Brexit referendum in June 2016 following January’s slump to 49.7.
8th Mar 2019 - Reuters
500 jobs at risk as LK Bennett collapses into administration
LK Bennett has become the latest victim of the high street downturn after collapsing into administration, putting about 500 jobs at risk. The upmarket fashion retailer, which has 41 shops and 480 staff, announced last week that it could enter administration unless funding is found to keep it afloat as it struggled with soaring business rates. Five stores - Brent Cross and Westbourne Grove in London, Meadowhall in Sheffield, as well as Bristol and Liverpool - will close immediately. Workers at the stores as well as some in head office have been made redundant immediately by ad
7th Mar 2019 - Daily Telgraph
Market report: Brexit woe hits home at Countrywide
A second consecutive annual loss of more than £200m for Countrywide sent the UK’s biggest estate agent sliding to the bottom of London’s market as Brexit angst threatens to derail its turnaround. The company is implementing a “back to basics” plan to kick-start its recovery but Countrywide revealed that the turnaround has been hampered by a slump in property transactions as Brexit uncertainty bites. The company’s shares have been under pressure since last summer when it tapped investors for a £140m lifeline, aiming to slash its debt pile.
7th Mar 2019 - The Telegraph
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Bombardier presses DUP to back Theresa May’s Brexit deal
Bombardier, the most important employer in the Unionist strongholds of Northern Ireland, is putting pressure on the region’s Democratic Unionist party to drop its objections to Prime Minister Theresa May’s Brexit deal as a critical vote in Westminster nears. The Canadian aircraft manufacturer, which employs almost 4,000 people at four separate Belfast factories, has kept a relatively low public profile over Brexit compared with other UK-based manufacturers. But the increasing threat of Britain leaving without a deal has prompted Bombardier to warn the DUP, which has fiercely criticised Mrs May’s deal in the past, of the serious consequences on its Northern Ireland operations of a hard exit, according to people familiar with the discussions.
6th Mar 2019 - Financial Times
Vauxhall: No further Ellesmere Port investment until Brexit outcome decided
Production of electric and hybrid cars will not be introduced to Ellesmere Port until the outcome of Brexit is decided, Vauxhall's parent company has warned. Carlos Tavares, chief of Groupe PSA, said that investment could not be ploughed into the Cheshire plant before the political situation becomes clearer. Speaking to ITV News, Mr Tavares argued that the introduction of electric cars would represent a "very big" business decision for PSA. He also offered his own opinion that a no-deal Brexit scenario would be a "disaster" for both Britain and continental Europe.
6th Mar 2019 - ITV News
'No investment' at Vauxhall Ellesmere Port plant until Brexit sorted
The boss of Vauxhall's parent company has said there will no further investment in the Ellesmere Port plant until the fate of Brexit is known. Carlos Tavares, chief executive of Groupe PSA, which took over Vauxhall in 2017, also warned a no-deal outcome would be a "disaster" for Britain and the rest of Europe. Mr Tavares made the comments during an ITV News interview at the annual Geneva car show on Tuesday.
6th Mar 2019 - Wirral Globe
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Hundreds of jobs at Nissan could be at risk, reports suggest
Reports suggest Japanese carmaker Nissan is considering plans to change production shifts at its Sunderland plant in a move that would lead to hundreds of job losses. The automotive giant has refused to comment on claims that it is looking to cut back production line shifts at its Sunderland plant , threatening around 400 jobs.
5th Mar 2019 - ChronicleLive
Nissan could cut back production line shifts threatening jobs, Sky sources
Nissan is considering plans to cut back production line shifts at its Sunderland plant in the latest setback to the UK car industry, Sky News understands. If the Japanese carmaker goes ahead with the plan it could result in 400 jobs being threatened, Sky sources say. The Nissan proposals would see the number of shifts on a production line making Qashqai and Leaf vehicles reduced from three to two.
5th Mar 2019 - Sky News
Nissan could cut production shifts at Sunderland, says report
Nissan is evaluating plans to cut back production line shifts at its Sunderland plant, which could threaten 400 jobs, according to reports. The Japanese car maker is considering cutting the number of shifts on the production line that makes the Qashqai and X-Trail SUVs from three to two, Sky News says. Nissan recently reversed plans to build the next-generation X-Trail at Sunderland, citing the decline in demand for diesel as the key factor - while acknowledging uncertainty over Brexit raised questions over long-term investment in the plant.
5th Mar 2019 - Autocar
BMW may shift Mini and engine work from UK in no-deal Brexit
Peter Schwarzenbauer, the German car giant's board member responsible for Mini and Rolls Royce cars, said the firm would "need to consider" moving production from the UK as the company could not absorb the extra costs they would inevitably face. He also told the Reuters news agency at the Geneva car show that some engine manufacturing, at Hams Hall in Birmingham, could be lost to Austria.
5th Mar 2019 - Sky News
Brexit: BMW could shift production from UK to Austria in event of no deal, board member reveals
BMW may move some of its engine production from the UK to Austria in the event of a no-deal Brexit, one of its board members revealed on Tuesday. “We have some flexibility on the engine side with Steyr in Austria,” Peter Shwarzenbauer told Reuters at the Geneva car show. “We would need to make some adjustments toward Steyr. We are preparing to be able to do it.” Schwarzenbauer also told Sky News that BMW will “have to consider” ending Mini production at its Oxford plant if the UK leaves the EU with no deal in place.
5th Mar 2019 - The Independent
Brexit: BMW warns production of Mini could shift abroad if we leave with no deal
Production of the iconic Mini in the UK could end in the event of a no deal Brexit, German owner BMW warned. A top boss said Mini’s plant in Oxford - and BMW’s engine factory here - were in “danger” if the UK crashing out of the EU led to ...
5th Mar 2019 - Daily Mirror
@Haggis_UK BMW tells #SkyNews that they would have to consider moving Mini production out of the UK in the event of a #NoDealBrexit.
BMW tells #SkyNews that they would have to consider moving Mini production out of the UK in the event of a #NoDealBrexit.
5th Mar 2019 - @Haggis_UK
Ladbrokes owner moving servers,licences ahead of Brexit
Ladbrokes owner GVC Holdings said today it had made plans to relocate servers hosting online gambling platforms to Ireland for Brexit uncertainties. GVC owns games brands such as partypoker, PartyCasino, Casino Club, Gioco Digitale and Foxy Bingo. It also said the cut to the maximum stake on fixed-odds betting terminals (FOBTs) in the UK will result in the closure of up to 1,000 shops, while it expects the EBITDA impact to be £135m in 2019.
6th Mar 2019 - RTE.ie
Toyota and BMW warn no-deal Brexit could hit UK investment
Car giants Toyota and BMW have both warned a no-deal Brexit threatens the production of their cars in the UK. BMW told Sky News it could consider moving production of its Mini from the UK in a no-deal scenario. Separately, the head of Toyota's European operations said a negative outcome could put future investment at its UK factory near Derby at risk. Johan van Zyl told the BBC that if the Brexit "hurdles" are too high it would undermine Toyota's competitiveness.
6th Mar 2019 - BBC
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Toyota warns on building new models in UK after Brexit
One of Toyota’s top executives has warned a no-deal Brexit would make it “extremely complicated” to build new models at its British plants in the latest blow to the health of the UK car industry. The warning by Japan’s biggest carmaker that no-deal makes it less likely it will manufacture additional models in the UK follows Nissan’s recent reversal of a 2016 decision to build a sport utility vehicle in Sunderland and Honda’s planned Swindon closure. It also comes against a backdrop of steep falls in investment in the UK car industry.
5th Mar 2019 - Financial Times
Brexit Job Loss Index: 213,943 Jobs Lost As Of 22 Feb 2019
Here are the key stats (last updated 22/02/2019): Total Jobs Lost: 213,943 Total Annual Wages Lost*: £6,135,243,411 Reduction in Annual Income Tax & National Insurance Receipts**: £1,837,528,614.41....Job Losses By Region: Midlands: 20,320 - London: 19,507 - South West: 10,646 - Wales: 10,166 - North East: 9,751 - Scotland: 5,647 - North West: 3,972 - South East: 3,358 - East of England: 2,663 - Gibraltar: 1,000 - Southern England: 870 - Northern Ireland: 462 - Nationwide/unknown: 125,581
1st Mar 2019 - Small Business Prices
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Honda reveals it had plans to make electric cars in Swindon before plant closure
Honda has admitted that it had already invested in manufacturing the next line of electric vehicles in Swindon. Senior figures at Honda told workers at the plant that robot technology to build electric cars was being delivered by boat, before the sudden announcement last week that the plant will close. It is understood the new technology in transit was to switch the joinery of panels of the new 2021 hybrid models from welding to adhesive. The new technology would have been installed over the summer when the workers had planned stoppage time.
2nd Mar 2019 - Swindon Advertiser
Surrey University makes £15m cuts and offers redundancy to all staff
All staff at the University of Surrey are offered redundancy as Brexit and tuition fee review hits income.
1st Mar 2019 - BBC
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Aston Martin sets aside £30m for hard Brexit as costs hit profits
Aston Martin set aside £30m to deal with a hard Brexit as spiralling costs hit profits at the British luxury carmaker and triggered a sharp fall in its share price on Thursday. The group posted a pre-tax loss of £68m for last year, largely because of £136m in costs from its stock market flotation in October. But even once the exceptional charges were stripped out, pre-tax profit declined by 7 per cent to £68m, due in part to a one-off pension gain that it booked during 2017 and accounting changes last year.
28th Feb 2019 - Financial Times
Rolls-Royce hails ‘breakthrough year’ despite swinging to £2.9bn loss
Rolls-Royce hailed a “breakthrough year” despite suffering a £2.9bn loss last year partly thanks to technical problems with its engines. Company is axeing 4,600 jobs as part of a cost-cutting drive and has suffered from a series of technical issues with its engines
28th Feb 2019 - The Independent
Lack of detail over Brexit is 'hugely concerning' says Sunderland MP
A Wearside MP says she has finally received a reply to a letter she sent Prime minister Theresa May calling for more clarity over Brexit. But Sharon Hodgson, whose Washington and Sunderland West constituency covers the Nissan plant, says the reply leaves her questions unanswered. She has now received a reply which Business and Industry Minister Richard Harrington MP sent on February 22, which can be viewed here. Mrs Hodgson said the Minister had been unable to provide any further information regarding what trading arrangements will be when we leave the European Union (EU) and refused to rule out a 'hugely damaging' No-Deal Brexit.
28th Feb 2019 - Sunderland Echo
Ensus refinery at Wilton to resume production but bosses warn of threat to future from Brexit
German parent company CropEnergies has now confirmed a decision to bring the Wilton plant back online at a "reduced capacity" from the beginning of March. Around 90 staff work at the plant near Redcar but it also directly supports around 2,000 supply chain workers in areas from farming to haulage. But in a statement, the company said: "Questions related to Brexit regarding customs for imports and exports to and from the United Kingdom need to be clarified immediately. "The future customs regulations are of existential importance for the production site (at) Wilton." Labour MP for Redcar, Anna Turley , challenged Ministers in Parliament on Thursday to protect the British biofuels industry after Brexit. She warned of a potentially "devastating impact" of tariffs being removed on biofuel, and said as Ensus' decision to limit production shows jobs "still hang in the balance".
28th Feb 2019 - Teesside Gazette
JPMorgan plans temporary Paris hub for 200 staff if no-deal Brexit
JPMorgan has secured additional office space on the outskirts of Paris to house up to 200 staff who could be billeted to the French capital at short notice, under plans to cope with the fallout from a ‘no deal’ Brexit, sources told Reuters. The U.S. investment bank has expanded an existing lease at the temporary base so it can accommodate a swift transfer of crucial operations to the city by April 1 if Britain were to leave the EU without a deal on March 29, the sources familiar with the matter said.
28th Feb 2019 - Reuters
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Post-Brexit migration rules disastrous, say manufacturers
Make UK said the move would cause shortages of welders, robotics workers, toolmakers and maintenance technicians. "Few of these roles initially pay more than the £30,000 necessary under the new rules to qualify to work in the UK," said the organisation, formerly known as the EEF. Its director of employment and skills policy, Tim Thomas, urged the government to "urgently reconsider" the salary threshold plans.
28th Feb 2019 - BBC
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Which companies are leaving UK, downsizing or cutting jobs ahead of Brexit?
Brexit brings us nightmarish new headlines from the business world on most days at present. Declining manufacturing growth; £44bn-worth of transactions in jeaopardy every day and retailers chiming in to say prices of some foods could rise by 45 per cent, to say it's looking dicey out there is putting it mildly. The fact that former Brexit secretary David Davis chose to deny the UK was heading into a “Mad Max-style dystopia” is arguably quite telling. Even Somerset Capital Management, a firm co-founded by Brexiteer Jacob Rees-Mogg, has warned that the UK's departure from the EU could cause "considerable uncertainty".
26th Feb 2019 - The Independent
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Honda's 2018 briefing undermines claim plant closure not Brexit-related
A senior figure at Honda listed a catalogue of risks posed by Brexit at a briefing near its Swindon plant last year, fuelling doubts about the carmaker’s insistence that Britain’s withdrawal from the EU had nothing to do with the factory’s closure. Multiple factors are understood to be behind the closure, including global market conditions, the shift to electric vehicles and a free-trade agreement with the EU that will allow Japanese carmakers to export cars tariff-free from 2027.
21st Feb 2019 - The Guardian
Brexit Job Loss Map maker
Someone has been mapping Brexit job losses... Not a pretty sight.
21st Feb 2019 - @BestforBritain
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Honda decision stokes anger in Brexit-voting Swindon
“We pay them to sit in parliament to make the right decision for the future of the country. It is a shame we can’t fire them too,” said Rob, a supplier to the Honda plant, as he drove out of the plant digesting Tuesday’s news. The Brussels-Tokyo deal will allow Japanese carmakers to export into the EU tariff free by 2027, undermining the rationale for the UK’s small production base, particularly if Britain leaves the bloc without a deal.
20th Feb 2019 - Financial Times
Brexit vote has sent number of EU workers in Cornwall plummeting
The number of EU citizens coming to Cornwall to work has plummeted since Britain voted to Leave. Figures from the Department for Work and Pensions show that 2,107 European people came from overseas and registered for National Insurance numbers in the year ending September 2018. That’s down from 2,382 registrations in the year ending September 2017, and a drop of 24 per cent from 2,780 in the year ending in September 2016. The situation in Cornwall mirrors the national picture. Across the UK as a whole, there were 619,683 National Insurance number registrations from adults coming from Europe in the year ending to September 2018.
20th Feb 2019 - Cornwall Live
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@Channel4News "I make no apology for saying that leaving the EU without a deal would be a catastrophe for British farming." National Farmers' Union President Minette Batters says a no-deal Brexit is "the stuff of nightmares".
"I make no apology for saying that leaving the EU without a deal would be a catastrophe for British farming." National Farmers' Union President Minette Batters says a no-deal Brexit is "the stuff of nightmares".
19th Feb 2019 - @Channel4News
Aviva, NatWest to join 'Brexodus' of business to EU
England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around £9 billion in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part of a wider withdrawal of business and money by financial companies seeking to keep contracts and policies within the European Union even after Britain departs. Brexit formally takes effect at 2300 GMT on March 29.
20th Feb 2019 - Reuters UK
UK will apply food tariffs in case of no deal, Michael Gove says
Michael Gove warned that delays were likely in Calais because of mandatory EU checks on food imports on the French side of the channel. The tariff regime Britain would like to apply in the event of no deal will be revealed in the “next few days”.
He told the National Farmers’ Union’s annual conference in Birmingham that reports that Britain would operate a zero tariff regime in order to secure frictionless trade in a no-deal scenario were “not accurate”. “We can expect, at least in the short term, that those delays in Calais will impede the loading of ferries, constricting supply routes back into Britain and furring up the arteries of commerce on which we all rely,” said Gove. The NFU recently warned that health and safety audits required on individual food processing plans required by the EU could take up to six months to complete, effectively locking British farming exporters out of the bloc. On Tuesday Gove confirmed this by pointing out the EU had not yet classified the UK as a “third country”, which will only happen after health and safety audits are complete. “The EU still have not listed the UK as a full third country … As I speak there is no absolute guarantee we will continue to be able to export to the EU,” he told farmers.
19th Feb 2019 - The Guardian
Japan/EU trade deal likely the biggest factor in Honda move from Swindon
Sky's economics editor says Brexit consequences, rather than Brexit itself, have driven Honda's looming exit from Swindon.
19th Feb 2019 - Sky News
Honda confirms Swindon closure
Honda has confirmed it will close its Swindon car plant in 2021, with the loss of about 3,500 jobs. The Japanese company builds 160,000 Honda Civics a year in Swindon, its only car factory in the EU. Honda said the move was due to global changes in the car industry and the need to launch electric vehicles, and it had nothing to do with Brexit. Business Secretary Greg Clark said the decision was "devastating" for Swindon and the UK.
19th Feb 2019 - BBC
Michael Gove promises farmers safeguards against no-deal Brexit
Michael Gove, the environment secretary, will seek to reassure British farmers in a speech to be delivered on Tuesday that the government will act to protect them as Brexit looms, including if no deal can be reached for an orderly departure from Europe. Mr Gove, who will make the remarks at the National Farmers’ Union annual conference in Birmingham, is also expected to reiterate earlier pledges that Brexit will not cause the UK to lower its food standards in any way.
19th Feb 2019 - Financial Times
For Wall Street Banks in London, It’s Moving Time
The financial landscape of Europe is changing as banks shift employees and hundreds of billions of dollars’ worth of assets from London to new subsidiaries across the bloc in time for Britain’s divorce from the European Union, a process known as Brexit, on March 29. Banks are adjusting contracts with “Brexit clauses” to protect themselves if the separation is chaotic. Lawyers are checking regulations, jurisdiction by jurisdiction, to gird for possible future contractual disputes.
17th Feb 2019 - New York Times
Honda’s departure is bad news for Brexiteers – and Remainers
The Honda decision is about scale. A global company has to focus its resources in the places where it can a) produce most cheaply, but more importantly b) sell most profitably. For Honda and similar firms, that means the world can be seen as a handful of mega-markets, places where it is possible to make things and sell them to hundreds of millions of potential buyers. For Honda, that means a future focus on North America and Asia.
15th Feb 2019 - The Spectator
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‘Shattering body blow’ as Honda plans to close Swindon factory
Honda is planning to close its factory in Swindon, dealing what trade unions called a “shattering body blow” to the UK automotive sector, which is already wrestling with the effects of Brexit-related uncertainty. The Japanese carmaker is expected to announce as early as Tuesday that it is planning to shut its Swindon plant in 2022, in a move that would put 3,500 jobs at its only European production site at risk and threaten many more in its supply chain.
18th Feb 2019 - The Guardian
Workers blame Brexit for demise of Honda's Swindon plant
18th Feb 2019 - The Guardian
Honda to stun ministers with closure of Swindon factory
18th Feb 2019 - Sky News
Carmaker Honda plans to close Swindon factory – reports
18th Feb 2019 - The Guardian
Honda to close UK car plant in 2022, risking 3,500 jobs
18th Feb 2019 - The Irish Times
Honda to close UK car plant in 2022 with the loss of 3,500 jobs
18th Feb 2019 - Reuters
Breaking news: Honda set to announce closure of Swindon plant with 3,500 job losses
18th Feb 2019 - Swindon Business News
Honda: Is Japan losing faith in the UK?
Since the referendum, the Japanese government, its UK ambassador and company managements have repeatedly warned about the corrosive effect of Brexit uncertainty and the possibility of losing frictionless trade with the EU. Honda is not alone in pulling investment from the UK. Nissan reversed its decision to build the X-Trail SUV in Sunderland, while Sony and Panasonic moved their European HQs to the EU. In each case, the rationale was slightly different, but many in Japan feel that failure to provide Brexit certainty counts as a broken promise, permitting the loosening of ties that used to bind the two countries.
18th Feb 2019 - BBC
Workers blame Brexit for demise of Honda's Swindon plant
Honda workers in Swindon expressed their anger and fears for the future on Monday over the expected closure of the plant, blaming Brexit for a loss that they said would send shockwaves through the town. After news broke of the likely closure in 2022, with the loss of 3,500 jobs, one worker leaving the plant said the atmosphere inside was “clearly not very happy”. The man, who like most workers absorbing the news did not wish to be named, has been with the company for 24 years. He blamed Brexit for the car giant’s decision. He said he had voted remain in the EU referendum and condemned the local Conservative MP Justin Tomlinson for campaigning for Brexit.
18th Feb 2019 - The Guardian
Blame Brexit? UK faces threat of 8,000 lost car manufacturing jobs
Oxford professor Matthias Holweg, who specialises in manufacturing and operations management, told Yahoo Finance UK earlier this month that the industry could see “death by a thousand cuts.” “The real danger is, in the long run, we’re going to see ‘death by a thousand cuts’ and the industry becomes, essentially smaller and smaller, and thereby loses scale and competitiveness,” Holweg warned. “It’s an immediate, logical consequence of the continued uncertainty surrounding Brexit.” The British car industry directly employs roughly 186,000 people in the UK, with a total of 856,000 jobs dependent on the sector, according to recent SMMT data.
18th Feb 2019 - Yahoo Finance UK and Ireland
Brexit: Thousands of UK financial jobs secured after EU regulator recognises London clearing houses
A vital part of the City of London supporting tens of thousands of jobs has been spared the worst effects of a cliff-edge Brexit after European regulators recognised clearing houses, which process trillions of pounds worth of transactions each year.
18th Feb 2019 - The Independent
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Regional airline Flybmi collapses, blaming Brexit uncertainty
East Midlands carrier ‘unable to secure valuable contracts in Europe’ cancels all flights. The company, which employs 376 staff and operates more than 600 flights a week, said it faced “several difficulties” in recent weeks including spikes in fuel and carbon costs, the latter arising from the EU’s recent decision to exclude UK airlines from full participation in the Emissions Trading Scheme. “Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around bmi’s ability to continue flying between destinations in Europe,” the airline said in a statement.
16th Feb 2019 - The Guardian
UK regional airline Flybmi goes into administration blaming Brexit
16th Feb 2019 - Reuters
Brexit Is Such Good Business for the Dutch, Their Watchdog Needs to Get Bigger
Amsterdam is winning so much business as Europe’s post-Brexit trading hub that the Netherlands is boosting the financial regulator’s budget by 10 percent to keep up with it all. “It could be even more in case of a no-deal Brexit,” Merel van Vroonhoven, head of regulator AFM, said in a Bloomberg TV interview. AFM needs the extra budget to “heavily invest in IT” and hire many more people,” she added.
15th Feb 2019 - Bloomberg
Dyson sweeps 100 back office jobs out of the UK
Dyson outsourced more than 100 back office roles out of the UK only months before announcing the relocation of its headquarters to Asia, said current and former employees of the consumer appliances maker. At least 100 roles at Dyson’s Malmesbury site in Wiltshire were outsourced overseas, chiefly to India through the professional services group Accenture, according to current and former employees who asked not to be named. A smaller number of roles went to the Czech Republic. Accenture declined to comment.
15th Feb 2019 - Financial Times
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Banks have not moved enough staff from London to EU for Brexit: Bundesbank
Some banks that conduct their euro zone business from London have failed to meet regulators’ expectations to move enough staff into other EU countries in time for Brexit, the German bank supervisor Joachim Wuermelling said on Thursday.
“Not all SSM banks are currently fully compliant with the SSM’s respective supervisory expectations,” said Wuermelling, referring to the euro zone’s Single Supervisory Mechanism that includes the European Central Bank and regulators from the 19 countries that use the common currency.
14th Feb 2019 - Reuters
Airbus scraps A380 superjumbo jet as sales slump
Airbus said it would start discussions with partners regarding the "3,000 to 3,500 positions potentially impacted over the next three years". The BBC understands that around 200 jobs in the UK could be under threat from the decision. Airbus confirmed it hopes to redeploy a "significant" number of affected staff to other projects.
14th Feb 2019 - BBC
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Brexit: Ford reveals its plans for move abroad
Ford has become the latest carmaker to sound the alarm over Brexit, saying that it is stepping up preparations to move production out of Britain. The business, which has 13,000 staff in the UK, told the prime minister on a private call with business leaders that it was preparing alternative sites abroad. The warning comes after Nissan announced last week that it was cancelling plans to build a new model in its Sunderland plant, a decision that it attributed in part to Brexit uncertainty.
13th Feb 2019 - The Times
Ford warns no-deal Brexit would be 'catastrophic'
Ford declined to comment directly on The Times' report, but said it had long warned against a "hard Brexit". The company is the latest carmaker to warn on the risks of a no-deal Brexit. "Such a situation would be catastrophic for the UK auto industry and Ford's manufacturing operations in the country," the company said in a statement. "We will take whatever action is necessary to preserve the competitiveness of our European business."
13th Feb 2019 - BBC
Ford told UK PM May it is preparing alternative production sites - The Times
Ford Motor Co told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday. The automaker told the prime minister during a private call with business leaders that it is preparing alternative sites abroad, The Times said. Ford was not immediately available for comment.
13th Feb 2019 - Reuters UK
Bank of America says no going back on its $400m plans for Brexit move
Anne Finucane, Bank of America’s vice-chair, said her company would spend about $400m — the upper bound of a $300m-$400m range previously given by BofA — on everything from offices to moving people and technology as it tries to ensure clients can trade seamlessly with the EU after the UK’s exit. BofA’s plans include moving $50bn of banking assets to Dublin and creating a 500-strong trading business in Ireland, which will also have a sizeable but as-yet unspecified asset base. The bank is also moving traders to a new Paris hub. “Dublin is our headquarters for our European bank now — full stop,” she said. “There isn’t a return. That bridge has been pulled up . . . From a trading perspective, likewise, Paris would be the European trading arm.”
13th Feb 2019 - Financial Times
Brexit: This is how many people could lose their jobs in each area of Coventry and Warwickshire
Almost 4,000 jobs could be lost in Coventry if Britain crashes out of the EU without a deal, according to research. The numbers are cited in research by the University of Sussex's UK Trade Policy Observatory. n Coventry, a total of 1,750 jobs could be lost among residents if a soft Brexit happens, according to the research. The worst hit will be those living in the Coventry South constituency, with 650 jobs expected to be lost among residents there. In Coventry North East, 600 jobs are set to be lost and 550 in Coventry North West.
13th Feb 2019 - Coventry Telegraph
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Brexit: Thousands of UK lorry drivers face being barred from entering EU after missing out on permits
Thousands of British lorry drivers face the prospect of being barred from entering the EU after missing out on permits that will be required after Brexit. Figures show more than 11,000 HGV operators applied for a European Conference of Ministers of Transport (ECMT) permit but less than 1,000 of the annual passes were made available. The Department for Transport said an additional 2,832 one-month permits “will start to be allocated” by the end of the month, although this is still short of how many are required.
11th Feb 2019 - The Independent
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Brexit: Netherlands talking to 250 firms about leaving UK
The Dutch government has said it is in talks with more than 250 companies about moving their operations from the UK to the Netherlands before Brexit. The economic affairs ministry said it had lured 42 companies or branch offices and 1,923 jobs from the UK last year, as it increases its efforts to gain Brexit business.
Among those who have chosen to invest in the Netherlands are the Discovery Channel, Sony and Bloomberg. Sony announced last month it was moving its European headquarters to Amsterdam, as companies in the UK continue to progress with contingency plans. Its rival Panasonic has already moved to the Dutch capital.
9th Feb 2019 - The Guardian
Tories try to limit European election damage with cut‑price campaign
Conservative Party chiefs have signed off a cut-price campaign for the European parliamentary elections after finally admitting that the polls will go ahead two weeks tomorrow.
Candidates received a confidential briefing at Conservative campaign headquarters (CCHQ) on what many admit will be a damage-limitation exercise. Party chiefs are said to be sending only taxpayer-funded mailshots with the first wave of literature targeting postal voters due within days.
The Conservatives’ message will be that only the governing party can deliver Brexit as it pleads with voters not to back Nigel Farage’s insurgent Brexit Party, according to a senior figure. The first leaflet includes a photograph of Theresa May.
8th May 2019 - The Times
British cryptologist in Belgium explains brain drain resulting from Brexit vote
As the confusion over Brexit becomes increasingly drawn out, a major brain drain is occurring across various fields in the United Kingdom, and academia is no exception.
29th Jan 2019 - The Mainichi