Brexit Insight: How Should Your Business React?

Brexit Insight: How Should Your Business React?

The UK is leaving the EU – So now is not the time to bury your head in the sand. HOW DO THINGS STAND AT PRESENT? The UK economy appears to have weathered the initial shock of the Brexit vote, although the British pound’s value remains near a 30-year low, opinion is sharply divided over the long-term effects of leaving the EU. Major firms such as EasyJet and John Lewis have pointed out that the sterling slump has increased their costs. Britain also lost its top AAA credit rating, meaning…

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May attempts to comfort business concerns surrounding Brexit

May attempts to comfort business concerns surrounding Brexit

November 21st,  CBI annual conference Following Prime Minister Theresa May’s speech on Brexit at the CBI annual conference on Monday, where she acknowledged businesses’ desire to avoid a “cliff edge”, May guaranteed premature concessions in relation to the standing of UK and EU nationals in Europe and the UK respectively. Many businesses have empathized their concerns and have pushed for an intervention to allow them to trade as normal, post-Brexit. May expressed her understanding around these worries of trade and regulation following Brexit leaving the EU, however withheld plans surrounding…

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Trump’s effects on the weakening Euro!

Trump’s effects on the weakening Euro!

Trump becomes the 45th US President November 8th US election After the long awaited US presidential election, America have appointed its 45th US President. Donald Trump succeeded Hillary Clinton in the early hours of last Wednesday morning to what was described as a shock victory by many. Trump’s victory, despite his businessman background, has seen more uncertainty around America’s future. Although the U.S. Federal Reserve is in charge of monetary policy decisions, the Republican President can affect political and economic stability. Just like Brexit, it will take time to see…

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Budget 2017 and the impact on Irish Businesses

Budget 2017

This week’s focus turns to Ireland’s Minister for Finance, Michael Noonan as he revealed Budget 2017. Noonan addressed the Dáil with the following introductory statement: The UK’s decision to exit the EU represents a real risk to our economy given the close links and the high level of trade between us. Around 16% of Irish exports go to the UK, but 40% of indigenous company exports go there. In turn, Ireland is the UK’s fifth biggest export market. Over €1.2 Billion of goods and services are exchanged between us on a weekly…

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Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

The British Financial Industry could lose up to £38 billion (43 billion euro) in revenue if the UK undergo a so-called “Hard Brexit” restricting access to the European single market. This will result in the UK being subject to both tariffs and non-tariff barriers. A report by Oliver Wyman ordered by the industry lobby group TheCityUK, summaries two different outcomes following a “Hard Brexit”. One outcome would see the UK cut all ties with the single market. If this were to happen, revenue may fall by £20 billion causing a…

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