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Siemens UK warns that Brexit vote could hit investment

Siemens UK warns that Brexit vote could hit investment

One of the UK’s biggest industrial companies, Siemens UK, has warned that investment could be hit in the wake of the Brexit vote. Chief executive Juergen Maier said that while the German giant is committed to the UK, he is worried about the prospects for future investment. “We are concerned about what the future might […]

Airport expansion decision on hold

Airport expansion decision on hold

Image copyright Getty Images A decision on airport expansion in south-eastern England is to be delayed until “at least October”, Transport Secretary Patrick McLoughlin has said. The move follows the UK’s Brexit vote, which triggered a leadership contest in the Conservative government. Heathrow and Gatwick airports have been vying with each other over building an […]

Barclays ‘has no plans to move jobs’ after Brexit vote

Barclays ‘has no plans to move jobs’ after Brexit vote

Banking giant Barclays has no plans to move jobs out of the UK following the vote to leave the European Union, chief executive Jes Staley has said. Barclays is “staying anchored in Great Britain” he told BBC business editor Simon Jack. Some banks have warned that the Brexit vote may affect jobs. But Mr Staley […]

Brexit: Obama warns on global growth after UK vote

Media captionBarack Obama: “There are some genuine longer term concerns about global growth” US President Barack Obama has said the UK vote to leave the EU raises “longer-term concerns about global growth”. He said Brexit would freeze “the possibilities of investment in Great Britain or in Europe as a whole”. He appealed to the UK […]

Tata Steel fears that UK political situation may derail sale

Tata Steel fears that UK political situation may derail sale

Image copyright Getty Images Fresh concerns have emerged over the future of Tata Steel’s UK assets, which include the huge Port Talbot works. It is understood that the Indian owners of the plant fear that the current UK political uncertainty could derail efforts linked to the planned sale. Concerns centre on proposed changes to the […]

Global stock markets rally as Brexit fears abate

Global stock markets rally as Brexit fears abate

Image copyright AFP The FTSE 100 has surged through the level it closed at last Thursday, recovering all of the ground it had lost in the wake of the Brexit vote. The pound also strengthened against the dollar and euro, while Wall Street’s rally continued for a second day. Some investors say last week’s sell-off […]

BHS: Philip Green demands apology for ‘outrageous’ claim

Media caption“What’s required is very large cheque” – Frank Field to BHS managers Former BHS owner Sir Philip Green has demanded an apology for an “outrageous outburst” by MP Frank Field as the row over the retailer’s collapse escalates. Sir Philip said the chairman of a Commons inquiry into BHS’s collapse had shown “shocking behaviour”. […]

Deutsche Bank and Santander fail US stress test

Deutsche Bank and Santander fail US stress test

Image copyright Getty Images Nearly all large US banks have passed the Federal Reserve’s annual stress test, with only US operations of Deutsche Bank and Santander failing. The test is designed to judge whether banks operating in the US can weather a major economic downturn. Santander Holdings and Deutsche Bank Trust Corp had already failed […]

UK shares continue to recover ground

UK shares continue to recover ground

Image copyright AFP UK shares and the pound have continued to regain some of the ground lost in the wake of the Brexit vote. The FTSE 100 share index was up 2.3% at 6,280.49, after rising 2.6% on Tuesday. The pound rose 0.9% against the dollar to $1.3467, although sterling still remains well below levels […]

BHS deal ‘didn’t pass sniff test’, says Goldman Sachs executive

Media captionGoldman Sachs boss rejects BHS blame The sale of BHS to Dominic Chappell’s Retail Acquisitions last March did not pass the Goldman Sachs “sniff test”, the bank’s vice chairman has told MPs. Michael Sherwood said the bank’s only role had been to highlight the risks of the deal. It appears to contradict ex-BHS owner […]