GBP News 

Aviva, NatWest to join ‘Brexodus’ of business to EU

“Aviva was among the last of the big insurers to secure court approval for shifting chunks of life, general, property, casualty and motor insurance policies to EU hubs” reports businessinsider.com. It had previously secured court approval to move around 1 billion pounds in general insurance assets.Among banks, Britain’s Barclays secured court approval last month to move 190 billion euros in assets to a Dublin subsidiary.The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets.Most of the policies…

Read More
GBP News Stocks 

British supermarkets battle to secure stocks as chaotic Brexit looms

“The last time Britain’s food supplies were seriously hit was when fuel protests prompted panic buying almost two decades ago, forcing some supermarkets to ration milk and bread and others to warn that stocks would run out in days” reports businessinsider.com. Another senior executive at a major British food retailer told Reuters they had seen no signs yet of Britons buying so-called ‘bunker lines’ – toilet paper, bottled water and tinned food. Source: businessinsider.com

Read More
GBP News 

Letters: Britain can have better transport without wasting more money on HS2

“Just some of the money saved could be used to provide high-speed broadband throughout Britain, which would transform the economy” writes Tom Welsh for telegraph.co.uk. SIR – The Government should cancel the vanity project that is HS2, which is now expected to cost £100 billion.The savings could be used to improve current transport, while investment in the North could be encouraged through tax breaks.SIR – There is now so much doubt about the merits of HS2 that the project should be abandoned immediately before any more money is wasted. Source: telegraph.co.uk

Read More
GBP News 

UK 2018 economic growth weakest since 2012, as Brexit and global worries weigh

“Britain’s economy slowed as expected in the final three months of last year, pushing growth in 2018 to its weakest in six years, as Brexit worries hammered investment, official figures showed on Monday” writes unknown author for cnbc.com. Gross domestic product growth in the final quarter of 2018 fell to a quarterly rate of 0.2 percent from 0.6 percent in the previous quarter. Source: cnbc.com

Read More
GBP News 

The making of a broken market – how did Britain get home energy so wrong?

“At a stroke, 15m homes are facing one of the steepest hikes to energy bills in years” writes Liam Halligan for telegraph.co.uk. Britain’s energy industry is about to blow a fuse.It is perhaps easier to criticise energy companies for “unjustified” price hikes, and “rip-off” tariffs than it is to take charge of a £1.7bn blow to hip pockets. Source: telegraph.co.uk

Read More
GBP News 

Exclusive: Britain’s financial heartland unbowed as Brexit risks deepen

“The jobs are equivalent to 0.5 percent of the 400,000 people who work in financial services in London” writes Midwest Communications Inc for 95kqds.com. A no-deal Brexit would mean Britain leaving the European Union without an agreement on trade.Banks and insurers in Britain currently enjoy largely unfettered access to customers across the bloc in most financial activities.The future of London as Europe’s financial center is one of the most important outcomes in the Brexit talks because it is Britain’s largest export sector and biggest source of corporate tax revenue. Source: 95kqds.com

Read More
GBP News 

No-deal Brexit ‘could put 700,000 tourism jobs at risk’

“A no-deal Brexit could lead to more than 700,000 jobs in the travel and tourism sector being lost over the next decade, a trade body has warned” writes Shehab Khan for independent.co.uk. “Given its importance to the UK economy it is now clear that a no-deal Brexit would have a dramatic impact on one the UK’s most important economic sectors,” Ms Guevara said.The World Travel and Tourism Council (WTTT) has said that if Britain leaves the European Union without an agreement some 308,000 UK-based jobs and 399,000 roles in the…

Read More
GBP News 

Union meets Nissan after it axes plans to build new model in Britain

“Unite’s acting national officer for the automotive sector Steve Bush said he now wanted Nissan to work with their employees regarding the future” reports businessinsider.com. Clark said 740 new jobs were due to be created by the X-Trail investment but none of the existing workforce would be hit by the decision to pull the model, which will solely be built in Japan. Source: businessinsider.com

Read More
GBP News 

Nissan scraps plan to build new X-Trail model in Britain

“LONDON (Reuters) – Japanese carmaker Nissan has scrapped plans to build its new X-Trail SUV in Britain, saying just two months before Brexit that it had taken the decision to “optimize its investments” by building the next generation model in Japan” reports businessinsider.com. “The company has decided to optimize its investments in Europe by consolidating X-Trail production in Kyushu, the production hub for this global model,” the company said in a statement on Sunday. “While we have taken this decision for business reasons, the continued uncertainty around the UK’s future…

Read More
GBP News 

UK would regret no-deal Brexit ‘for ever’: business minister

“An Environment Agency spokesman said a process was in place to ensure waste could still be exported after a no-deal Brexit” writes Midwest Communications Inc for 95kqds.com. Britain’s transport ministry is preparing for the knock-on impact of a no-deal Brexit overwhelming the transport system, according to a leaked document in The Times.Without a deal Britain risked major disruption to trade with the EU, cutting British business out of pan-European supply chains, Clark warned.Clark’s comments in The Times come as the paper reported government documents warning Britain’s transport system could get…

Read More