Moneymoney

Mon Feb 6, 2017, 10:16 AM

Brexit vote already bad for firms, bosses say

The Brexit vote is already having a negative impact on business, a survey of bosses from some of the UK's biggest companies has suggested.

Market researcher Ipsos Mori found 58% of respondents said their firms had suffered since last June's exit vote.

Nearly a third of respondents thought the referendum had not made any difference, and 11% felt it had been positive.

More than 100 bosses of FTSE 500 firms responded to the survey.

http://www.bbc.com/news/business-38878091

15 replies, 480 views

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Response to Agent_86 (Original post)

Mon Feb 6, 2017, 10:21 AM

1. And yet the corollary is they keep their dignity. Pretty awesome trade off!!

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Response to Shkreli (Reply #1)

Mon Feb 6, 2017, 10:25 AM

3. Pretty idiotic comment, even if sarcastic...

As they sink into bankruptcy and irrelevance...

"But I'm FREEEEEE!"

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Response to Scary Red (Reply #3)

Mon Feb 6, 2017, 10:31 AM

5. I suppose I don't share your anti-social and craven worldview. Good luck with all that!

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Response to Shkreli (Reply #1)

Mon Feb 6, 2017, 10:27 AM

4. They get to keep both

Their sovereignty which the globalists wanted to trade for 20 pieces of silver and their leadership position in the world's economies.

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Response to Agent_86 (Original post)

Mon Feb 6, 2017, 10:25 AM

2. Contrary to the numbers

Britain the G7 fastest growing economy.

http://www.ibtimes.co.uk/uk-economy-will-end-2016-g7s-fastest-growth-predicts-services-sector-survey-1595011

These are firms lobbying for a "soft" Brexit and the BBC, a vocal opponent of Brexit.

Oh George, where is that "Emergency Budget" that's going to be required to save us all?

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Response to Cold Warrior (Reply #2)

Mon Feb 6, 2017, 10:32 AM

6. Services, eh? Growth in McJobs over three, too?

The article is not entirely that sunny:

He also said that the UK could lose up to 15 million jobs to robots in the coming years as new technologies come to the fore.

At a speech in Liverpool on Monday evening (5 November), he said the UK's lack of growth had caused inequalities and led people to question the benefits of globalisation.

"We meet today during the first lost decade since the 1860s," he said. "Over the past decade, real earnings have grown at the slowest rate since the mid-19th century."

Questioning is good, but questioning globalisation does not mean globalisation is automatically the bad guy. It could be the guy that pulls your sorry ass out of the swamp.

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Response to Scary Red (Reply #6)

Mon Feb 6, 2017, 10:43 AM

7. We're not in Paduca where "services" means that great American contribution to world culture -- fast

food. Services in the U.K. and in London in particular includes Financial Services. London can rightly be regarded as the financial capital of the world.

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Response to Cold Warrior (Reply #7)

Mon Feb 6, 2017, 11:17 AM

9. I am well aware of London's financial sector-- I spent years dealing with...

the London reinsurance market.

However, just as with Wall Street, the growth in dollars or sterling does not mean growth in jobs. Trades and record keeping are more automated, as are reconciliations. Lloyd's member still be raking it in, but not so much its employees.

And, we still haven't heard much from China's bankers.

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Response to Scary Red (Reply #9)

Mon Feb 6, 2017, 11:23 AM

10. As I've been dealing in it for the last eight years

Not in the Lloyd's market, but primarily in retail and investment banking -- HSBC, Barclays, LBG, DB, and UBS. While all of the big banks are threatening to move, where are they going to go? Frankfurt? Dublin? London is the international financial gateway to Europe, much to the chagrin of the Junkers of the world.

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Response to Cold Warrior (Reply #10)

Mon Feb 6, 2017, 11:40 AM

14. Nobody knows. Sterling has held its own for a long time, but eventually...

it needs some serious business behind it besides trading.

(Have they thought about Zurich?)

The US has never had any interest in doing battle with the Pound, but if, and when, China leads Korea, Japan, and Australia into a fight for currency dominance, it will be interesting. Imagine a single currency over there. And if they get India to join in...

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Response to Scary Red (Reply #6)

Mon Feb 6, 2017, 10:59 AM

8. I'm curious about the confidence votes.

One of the primary components of a successful business is it's ability to adapt to a changing market. However, will their business adaptation be one of surviving or thriving?

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Response to Agent_86 (Reply #8)

Mon Feb 6, 2017, 11:32 AM

12. Me too. I have absolutely no idea what the future holds..

It looks like we have a population that not only is stretching planetary resources, but also has stretched our own resources for employing it.

I would be perfectly happy to live in the science fiction world where our basic needs are taken care of and we can spend our time reading, studying...

But we know that's not gonna happen.

We can set up all the border protections small minds can think of, but those "terrorist" organizations are populated by the kids with no future anywhere else. There are still some African terror armies out there loaded with kids with no place else to go.

Where it ends, I really don't know.

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Response to Agent_86 (Original post)

Mon Feb 6, 2017, 11:29 AM

11. This misses the point of the Brexit.

The point of the Brexit is not necessarily to make things better for large corporations and their senior executives. The point is to make things better for most of the Brits who live there.

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Response to Agent_86 (Original post)

Mon Feb 6, 2017, 11:40 AM

13. ************************ FAKE NEWS ALERT *********************

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Response to Agent_86 (Original post)

Wed Feb 8, 2017, 04:16 AM

15. the Pound is overvalued

short term, I see trouble for the UK.

long term looks better

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