UK Fintech Growth Hits Record High Despite Brexit

UK fintech growth is at record levels this year: UK fintech startups have already managed to secure £2.34 billion of investment in the first six months of 2019 – despite the expectation that Brexit would happen in March. The sector is well on course to smash last year’s record of £2.66 billion.

It comes just after yesterday’s ONS figures showed wages rising at 3.6%, the fastest rate since 2008, while unemployment is at a 45-year low and inflation is steady at its target of 2%. Still waiting for Osborne’s “immediate and profound” economic shock…

Aston Martin Boss: I’d Rather No Deal Than Drag Negotiations On

Remainers were busy laying into a recent article on CapX after it suggested that many businesses would actually “prefer the certainty of some short-term disruption for which both sides are now much better prepared, than continued dithering with no idea what will happen next.” No real-world boss could possibly be stupid enough to want that, obviously…

Except, err, the CEO of Aston Martin who just yesterday said exactly that:

“I’d rather leave with No Deal than drag negotiations on… Every time we have to prepare to leave it ties up working capital and brains on something that may or may not happen…

“First and foremost I think we now need certainty. I think business was pretty clear that it would prefer a deal with free trade with Europe, and it is true we are looking at a cliff-edge without one, but at this stage a decision is better than no decision.

“It’s not great, but we have modelled No Deal and run the scenarios. What we find harder to work with is goalposts that keep moving every six months. We need an outcome, and the truth is that we have debated our negotiating tactics in public, while the EU27 have worked with consensus and executed their negotiations brilliantly. Our Brexit strategy has been laughable.”

Just last month Aston Martin opened a brand new plant in South Wales which will eventually create over 3,000 jobs in local businesses and the supply chain. They’re also on the verge of securing a fresh £68 million in investment. Despite Brexit…

Japanese Telecoms Giant Opens Global HQ in London

The Japanese Government have been doing their best to stoke fears over No Deal, the foreign minister threatened both Hunt and Boris over it last week. Meanwhile Japanese businesses are just getting on with investing in the UK. Japanese telecoms giant NTT Corporation has announced that they’re opening a new global HQ for their international subsidiary in London. NTT Corp has an annual revenue of over $100 billion a year and currently employs 40,000 people. The new London-based subsidiary merges three companies into an $11 billion business. Hardly running scared of a No Deal Brexit…

NTT Corp President and CEO Jun Sawada said their commitment to the UK remains “extremely strong” and that they made a “deliberate decision” to choose London after considering several locations:

“It has many benefits, including a stable economy, wealth of skills and talent, diversity in population and thinking, strong infrastructure, schools and housing for global talent moving to the city. In short, it’s a great city to live and work in, and we’re excited that we are making it the home for our new business”.

None of which is going to change after the UK says sayonara to the EU…

Heseltine: UK “Economy Is Doing Significantly Better Than You Might Hope”

Lord Heseltine has been doing the media rounds yet again this morning as broadcasters scrape the barrel to generate ‘blue-on-blue’ content now the Soubries of this world have jumped onto their own sinking ship. Not that Heseltine is making any effort to be ‘blue’ any more after publicly endorsing the Lib Dems over the weekend. Will the Remainers in CCHQ be expelling him from the Party like they threatened to do with anyone who backed the Brexit Party?

When challenged about the UK economy outpacing EU countries like Italy and even Germany, Heseltine’s mask entirely slipped:

“This country’s economy is doing significantly better than you might hope.”

Remainiacs literally admitting that they wanted the economy to be doing worse to punish voters for their democratic choice.

The former pro-Euro campaigner also claimed that the strong economic performance was in part because “the Government is of course continuing to live on borrowed money” which doesn’t quite make sense as an argument given that the deficit has tumbled to its lowest level in fifteen years. Despite, of course, Brexit…

Last Quarter’s Real Wages Up, Employment Up, Despite Expectation of Brexit

New figures released by the ONS this morning reveal that wages this quarter are well up on what they were last year, despite the quarter having been expected to end with the UK leaving the EU. Excluding bonuses, employees have seen wages rise by 3.3%, an inflation adjusted rise of 1.5% compared with a year earlier…

Meanwhile the UK employment rate was estimated at 76.1% rising from last year’s 75.6% and the joint-highest figure ever recorded. Unemployment has continued to fall, now at 3.8% it’s the lowest this country has seen since 1974. All despite Brexit…

UK Economy Grows 0.5% in Q1, Faster Than Eurozone

The ONS has released its latest GDP figures and the UK is up at a healthy 0.5% growth for Q1. Business investment was also up 0.5% q/q, while manufacturing growth surged to the highest in three decades at 2.2%. The Eurozone could only manage 0.4% GDP growth…

EU Slashes German Growth Forecasts to 0.5%

The EU’s latest official figures have been published today, slashing the previously predicted German growth rate of 1.1% to just to just 0.5%. Out of the ‘big four’ large EU countries, the UK is joint first with France, both countries growing 1.3%. Germany is languishing on 0.5% and Italy barely has its head above water on 0.1%. This isn’t what we were told was supposed to happen…

UK Still Top Foreign Investment Destination in Europe in 2018

The latest OECD figures show that the UK has held on to its top spot in Europe for Foreign Direct Investment yet again – only the US and China surpass the UK globally. The UK’s inward investment stock totalled $1.89 trillion by the end of 2018. More than double Germany’s $920 billion – in fact it’s more than Germany, Spain and Poland combined…

Liam Fox blasts “those who would talk down Britain’s economic performance” saying that they’ve beenproven wrong once again”. It comes on top of EY revealing earlier this month that the UK has now also become the world’s most attractive destination for M&A activity, overtaking the US for the first time. So much for George Osborne’s warnings about foreign investment collapsing after a vote to Leave…

UK Overtakes US as World’s Top Investment Destination

EY’s annual corporate deal-making report published today has revealed that the UK has become the top investment destination in the world for the first time in the report’s 10-year history. The UK overtook the United States, which has held the top spot since 2014…

The report notes that there have been a number of high-profile investments in Britain over the past year, including Comcast’s purchase of satellite broadcaster Sky for £30 billion and Coca-Cola’s takeover of Costa Coffee for £4 billion. The UK’s performance is at odds with the global slowdown, with the IMF last week cutting its global growth forecasts…

Global vice chair at EY Steve Krouskos said that Britain remains an “open environment for foreign investors”, reinforced by the English language, a skilled workforce, and a strong technology base. None of which will change with Brexit…

UK Happiest Ever Despite Brexit

The latest edition of the World Happiness Rankings were published yesterday to mark World Happiness Day. Despite the relentless doom and gloom stories from the Remainer media and bitter Blairite politicians who still haven’t come to terms with the fact that the majority of the country doesn’t agree with them any more, the UK has actually climbed up to its highest ever position in the rankings, taking the 15th spot, just ahead of Ireland, Germany, Belgium and the US. Cheer up Remoaners, there’s nothing scary about being a self-governing country…

Government Borrowing Lowest It Has Been In 17 Years

New ONS figures released this morning reveal that borrowing in the current financial year was £23.1bn, £18bn less than a year before. Still no sign of that Leave vote-induced debt explosion…

Helping the good news was the fact that retail sales have risen unexpectedly strongly this month, showing consumer confidence remains high despite predictions from the experts. Now the UK’s total deficit isn’t far off our gross EU contribution…

Any deficit is a bad deficit, but adding just £23.1 billion to the national debt this year is a lot better than last year when we added £41.1 billion to it, and massively improved than the £103 billion deficit the UK faced in 2010. Guido will not be satisfied until the deficit is eliminated so the national debt can start to fall in real terms…

Toyota Producing New Hybrid Car Model in UK Despite Brexit

Toyota have just announced that they will begin producing a new generation of hybrid cars at its factory in Derbyshire next year, despite the global car industry downturn. Ford announced last week that they were cutting 5,000 jobs in Germany, Brexit is not to blame for the car industry’s global woes…

This isn’t just good news for thousands of Derbyshire workers – the new hybrid cars built for Suzuki will also use engines produced at Toyota’s Deeside plant in Wales. All despite Brexit…

British Universities Score Best Ever Global Ranking

British universities saw their best ever placing in the QS global university rankings this year. They took the top spot in 13 subjects, up from 10 last year. Despite Remainers warning us before the referendum that “Brexit could push British universities down global rankings”

The Times reported that experts are saying “Britain is benefiting from the rise in tuition fees in 2012” that enabled a big expansion in student numbers and facilities. Nick Hillman, the director of the Higher Education Policy Institute said that with  tuition fees under review this years results could represent the high water mark. Ditching the current fee system would do serious harm to our international rankings, and places for disadvantaged students domestically….

Head of Google’s Hiring Tool Calls UK ‘Very, Very Attractive Market’

The head of Google’s new recruitment tool ‘Hire by Google’ has said that the UK is “an attractive market, obviously, for everybody” and that Brexit did not change his decision to launch the product in the UK. Dmitri Krakovsky, a Vice President at Google (the world’s second most valuable company), said at the launch of the new product that “the UK is no doubt a very, very attractive market for us.” All despite Brexit…

Real Wages Rise, Employment Surges, Unemployment Plummets

New labour market data from the ONS has revealed that in the last quarter of last year, 167,000 more people became employed. 2018 ended with 444,000 more people in work than a year before. The UK’s employment rate now stands at the joint-highest it has ever been since records began in 1971. Meanwhile almost 60,000 fewer people are relying on zero-hours contracts…

The unemployment rate has plummeted too, with as low levels not being since since the end of 1974. Unemployment fell by 100,000 over the course of the year, meaning every day 274 unemployed people found a job. Meanwhile, wages have risen again by 3.4%, and excluding inflation real wages are up by 1.3%. Despite Brexit, Britain’s jobs miracle continues…

New $400 Million Tech Investment Fund to Launch in London

A new $400 million tech investment fund is set to be based in London with Abu Dhabi’s state investor Mubadala Investment Company partnering with SoftBank to provide funding for the launch of the new fund. The fund has already made a small number of undisclosed investments. All despite Brexit…

The UK is currently a global capital for tech innovation and is streets ahead of anywhere else in Europe. Funds like these will be running a mile if Damian Collins’ disastrous recommendations are ever put into practice…

Channel Tunnel To Remain Open If No Deal

The EU Commission has this afternoon published legislation on ‘Railway safety and connectivity’ which would guarantee the Channel Tunnel remains open for three months after a no deal Brexit, enough time for the UK and France to renegotiate the treaty that provides the legal underpinning for the crossing. Another piece of a managed no deal that Brexiteers were told was impossible…

New £3 Million Manufacturing Expansion in Oldham

Oldham’s Hill’s Panel Products, which manufactures boards, doors, and furniture fittings is booming, having opened a second production line, worth £3 million. This will increase output of goods by at least 50%, from 30,000 units to 45,000, and in the longer term 50,000. This new investment will create more local jobs.

No jobs being lost by Nissan deciding to not build something new made headlines for days. Will the media give proportionate coverage to real new investment..?

London Ranked First in Europe For ‘Future Proofing’

London has been ranked as the foremost city in Europe for ‘future proofing’ by international professional services and investment management company JLL. Their analysis looks at key data points in wide ranging criteria, from ‘International Patent Applications’ to ‘Environmental Quality’. No other European city comes close…

Globally, London is only beaten by San Francisco, Silicon Valley, and New York. The results show that London is still better placed than any other city in Europe to face down future challenges and continue to prosper – “despite Brexit”. That is not going to change unless we got a Corbyn government…

UK Ranked As World’s Second Most Powerful Nation

The UK has been ranked the world’s second most powerful nation despite Brexit. The Henry Jackson Society‘s Audit of Geopolitical Capability used a model involving four attributes, 33 indicators and 1240 potential data observations and placed the UK after the US but slightly ahead of China.[…] Read the rest

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