Do the math — Brexit really is starting to bite at European companies
Worries about economic impact, currency headwinds emerge in earnings updates
Source: Market Watch
http://www.marketwatch.com/story/brexit ... yptr=yahoo
If finance firms lose the right to freely sell their services across Europe, 75,000 jobs may disappear and the government may lose up to 10 billion pounds in tax revenue, the report by consultancy firm Oliver Wyman said.
Sure, the pound may hang around its current level for a while, or it may weaken further before it reverses course.
But to me the pound’s history doesn’t say hedge U.K. stocks; it says go buy those fancy Northampton shoes while they’re on sale.
First Minister Nicola Sturgeon closed the Scottish National Party conference in Glasgow on Saturday with a vow to take action to keep Scotland inside the EU’s enormous single market even if Britain leaves.
She said if the British government rejects those efforts and takes steps to hurt Scotland’s economy she would “make sure” that Scots get another chance to choose a better future.
In another sign that Sturgeon is determined to place Scotland on its own path, she said she plans to open a Scottish “trade and innovation” hub in Berlin, the German capital, and to set up a trade envoy system to pursue Scottish business links.
The city of almost 9 million people is the "soft power capital of the world," creating 235,000 new highly skilled jobs in 2014 and 2015 alone
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