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[4 Oct 2016 | No Comment | ]

Heavy machinery whirrs and clanks on the factory floor of precision metalworking firm Robert Bion & Co, where a planned three-metre robotic arm would have been speeding up output by now, if Britain had not voted to leave the European Union.
“We’re waiting to get a clear idea of what the future might be before we make any significant investments,” owner Nick Bion said at the company his father founded in 1964 in Reading, west of London.
Britain’s economy has held up better than most economists predicted since voters chose in June …

Money Matters »

[17 Aug 2016 | No Comment | ]

From computers and cars to carpets and food, Britain’s decision to leave the EU is beginning to hit consumers in the pocket, having already spread uncertainty through the property market.
The consequences of the shock vote have so far been mainly theoretical, but recent data suggest that the country’s tumbling currency is about to reach the High Street.
The pound has lost 10 to 15 percent of its value against the euro and the dollar since the June 23 referendum, raising the price of goods primarily supplied by foreign companies such as …

Business News & Advice »

[25 Jun 2016 | No Comment | ]

Britain’s vote to leave the European Union adds a heavy dose of uncertainty to a world economy that is still struggling to reach full speed years after the global financial crisis.
The most immediate pain will be felt in Britain. But economists say the ripples could be felt much farther afield.
Companies will wonder whether to invest or locate in Britain during the yearslong negotiations to define new trade conditions with the EU, its biggest business partner. Across Europe, trade and immigration may lose ground to nationalism and protectionism.
The EU itself, minus …

Business News & Advice »

[24 Jun 2016 | No Comment | ]

The European Union’s chief concerns over Britain’s vote to leave the group are political but losing its second-largest economy will have a huge economic impact as well.
Below are some of the main economic risks and benefits for the EU’s remaining 27 members.
BUDGET/ECONOMY
Other members will have to fill in at least some of the shortfall from a lack of its contributions.
Britain’s total contribution to the EU budget for 2016 has been set at 19.4 billion euros ($21.4 billion), including its rebate and customs duties. It receives about 7 billion euros, mainly …

Headline »

[21 May 2016 | No Comment | ]

Former London Mayor Boris Johnson claims the European Union was behaving like German Nazi dictator Adolf Hitler by trying to create a superstate, he said in a Sunday newspaper interview.
Johnson is one of the leading figures campaigning for Britain to leave the EU in a June 23 referendum. His controversial comments come six weeks ahead of the vote and with opinion polls suggesting the vote is too close to call.
He said the last 2,000 years of European history had featured repeated efforts to bring the continent together under a single …

Money Matters »

[9 Jul 2015 | No Comment | ]

Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country’s euro zone membership into further doubt and deepening a standoff with lenders.
Stunned European leaders called a summit for Tuesday to discuss their next move after the surprisingly strong victory by the ‘No’ camp defied opinion polls that had predicted a tight contest.
The euro and stock prices fell sharply at the market open in Asia on Monday but then recovered some of their losses, with dealers emphasising that markets were orderly and showing …

Headline »

[7 Jul 2014 | No Comment | ]

The first secretary-general of NATO, Lord Ismay, once said the Western defence alliance was created “to keep the Americans in, the Russians out and the Germans down”.
The task facing the European Union now might be described as to keep the British in, the Russians out and the Germans down.
BRITISH IN
Prime Minister David Cameron’s demand to redraw Britain’s relationship with the EU and put the result to a referendum in 2017 means the next few years are bound to be dogged by haggling over Brussels’ powers and about opt-outs for London.
If …

Headline »

[18 Mar 2014 | No Comment | ]

Errico Auricchio produced cheese with his family in Italy until he brought his trade to the United States more than 30 years ago. Now, the European Union is saying his cheese isn’t authentic enough to carry a European name.
As part of trade talks, the EU wants to ban the use of names like Parmesan, feta and Gorgonzola on cheese made in the United States. The argument is that the American-made cheeses are shadows of the original European varieties and cut into sales and identity of the European cheeses.
Auricchio, president of …

Business News & Advice »

[7 Dec 2012 | No Comment | ]

China said Tuesday that the United States has overtaken the European Union as its biggest export market, as the continent’s debt crisis has sent demand slumping.
“The biggest is the U.S. and the EU is second,” Commerce Ministry spokesman Shen Danyang told reporters at a regular briefing, without saying when the reversal occurred. “The EU used to be the biggest,” he added.
Chinese customs figures for the first 10 months of this year showed that China’s exports to the United States totalled $289.3 billion, while shipments to the EU came to $276.8 …

Headline »

[31 Oct 2012 | No Comment | ]

German Finance Minister Wolfgang Schaeuble urged Britain on Monday to remain strongly engaged in the European Union, responding to a tide of Euroskepticism that Berlin fears could sweep London towards the exit.
Schaeuble’s plea, delivered during a visit to Oxford University, came days after British Foreign Secretary William Hague mapped out a very different vision of a much looser EU in which Britain would opt out of many policies.
Chancellor Angela Merkel said she would visit Britain, an “important partner”, for talks with Prime Minister David Cameron next week.
“In my view the …