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Old 06-25-2016, 12:42 AM
 
18,069 posts, read 11,048,210 times
Reputation: 9406

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Quote:
Originally Posted by k350 View Post
And what, those jobs would not have been there if the UK was not part of the EU? You do not think it is remotely possible for other agreements for trade to be made, like how the US and the rest of every non-EU country in the world does with the EU?

How is Norway's unemployment rate? 4.1%, so it is possible to be part of Europe, but not part of the EU, and not have a high unemployment rate.

Look at Spain's unemployment rate, 22.7%, so yea, the EU is really helping out there, or, there are numerous other factors besides being in the EU, or out of it, that determines the number of jobs available in the country.
No many of those jobs would not be there if the UK was not part of the EU. That is why many of those jobs will be leaving because of their departure from the EU. Have you read any of the articles in this same thread? Britain is due to lose a ton of jobs.

London to Lose Tens of Thousands of Jobs After Brexit

London to Lose Tens of Thousands of Jobs After Brexit - Fortune


Multinationals warn of job cuts and lower profits after Brexit vote

http://www.theguardian.com/politics/...-up-uk-economy

Ford considers UK job cuts after Brexit vote as carmakers eye future

World business, finance, and political news from the Financial Times - FT.com

JP Morgan

In the months ahead, however, we may need to make changes to our European legal entity structure and the location of some roles. While these changes are not certain, we have to be prepared to comply with new laws as we serve our clients around the world. We will always do our best to take care of our people and do the right thing during times of change.

http://www.businessinsider.com/jpmor...16-6?r=UK&IR=T

But wait, there's more from another poster:


FRANKFURT — Only hours after Britain decided to leave the European Union, Emmanuel Lumineau cast his own “remain” vote — with his feet. Mr. Lumineau said he would move to Paris from London and take about 10 employees at his financial start-up with him.

Mr. Lumineau’s reasoning was simple. His customers operate under European rules and so must he. “We need to be inside,” said Mr. Lumineau, the French chief executive of BrickVest, a company that allows customers to invest small sums in real estate online.

Jamie Dimon, chief executive of JPMorgan Chase, warned his staff in a memo on Friday that in months to come “we may need to make changes to our European legal entity structure and the location of some roles.” Mr. Dimon had said before the vote that up to a quarter of JPMorgan’s 16,000 employees in Britain might need to relocate.

Shares of British property companies plunged Friday on fears that the Brexit vote will cause a recession and deflate London’s real estate boom.

Jürgen Maier, the top executive in Britain of Siemens, the German electronics and engineering giant, said it might need to rethink its investment plans. He predicted others would do the same, at least until they can judge the impact of Brexit.

“All companies will be holding fire to see what happens,” said Mr. Maier, Siemens’s chief executive for Britain.

For decades, big multinational companies have used Britain as their business-friendly, English-speaking beachhead to Europe. As a member of the European Union, Britain offered frictionless access to the mainland, while the legacy of Margaret Thatcher meant there was far less regulation than in France or Germany.

Now that the English Channel suddenly seems a lot wider, businesses are waiting nervously to see what kind of new Europe will take shape. Negotiations on a post-Brexit trade relationship are likely to be messy and take years.

And in the meantime, Europe could be in for serious political instability as right-wing parties in France, Finland and other countries try to ride Britain’s coattails out of the union.

It is not all bad for business. The plunging pound will help the tourism industry by making Britain cheaper to visit. BMW Mini automobiles and other products manufactured in Britain will be less expensive for people paying in euros and other foreign currencies. That could be good for exports.

Britain could also be free to follow its free market instincts without interference from Brussels. If the “leave” forces are correct, that would make the country a magnet for companies seeking to escape the regulatory corset of mainland Europe.

But any advantages are likely to be outweighed by the enormous uncertainties ahead. With no road map, executive decision-making could be paralyzed and investment could come to a standstill.

Britain’s financial services industry, which employs 1.2 million people, is especially vulnerable. New stock listings in London are likely to all but cease while companies take stock of the damage.

Foreign banks may face the costs of moving thousands of employees out of London to the Continent so they can satisfy regulations governing trading and investment advice on behalf of European clients. London had provided a convenient hub to serve Europe.

James P. Gorman, the Morgan Stanley chief executive, and Colm Kelleher, the president, said Friday that they had no plans to relocate staff from London. But in a memo to employees — many of whom worked through the night to handle a huge trading volume — they said they might “consider adjustments to our operating model.”

Even Deutsche Bank, the symbol of German banking nominally based in Frankfurt, uses London as a base for investment banking and trading. It has often made most of its profit there.

“I’m afraid that this is not such a good day for Europe,” said John Cryan, the Deutsche Bank chief, who happens to be British. “At this stage, we cannot fully foresee the consequences, but there’s no doubt that they will be negative on all sides.”

Perhaps no company embodies the European project more than Airbus, a politically driven consortium that allowed Europe to remain a player in the aircraft industry after smaller national manufacturers could no longer compete. Airbus produces wings in Broughton and employs 15,000 people in Britain plus tens of thousands more at suppliers.

Outside the union, Britain may no longer have as strong a claim on those jobs. “This is a lose-lose result for both Britain and Europe,” said Thomas Enders, the Airbus chief executive. “We will review our U.K. investment strategy, like everybody else will.”

Other sectors as different as petrochemicals and Scottish whisky could be damaged by increases in customs duties, diverging legal requirements and slumping growth. Energy companies like BP or Royal Dutch Shell are worried about having to deal with an unwieldy snarl of differing regulations once the European Union umbrella is gone. “Uncertainty is never helpful for a business such as ours,” BP said in a statement Friday.

United States technology companies like Google and Facebook have sizable operations in Britain, though their headquarters are technically in low-tax countries like Ireland and the Netherlands. Google employs roughly 1,000 engineers across Britain, working on global products like its search engine and Android mobile operating system. Technology companies could be under pressure to move sales and marketing jobs from Britain, so these employees can still have access to Europe’s common marketplace.

The ties are especially close between Britain and Germany, where the dismay was particularly pronounced. Britain imports more products from Germany than anywhere else. Britain is Germany’s third-largest customer for exports, after the United States and France.

German brands like BMW, Mercedes and Volkswagen account for half the cars sold in Britain, according to the German Association of the Automobile Industry. Sales could suffer if Britain raises tariffs on imported vehicles. Shares of BMW, Daimler and Volkswagen plunged Friday.

German companies have helped keep alive manufacturing in Britain. Mini and Rolls-Royce are considered iconic British car brands, but both are owned by BMW. Bentley belongs to Volkswagen.

Probably the most important company in the renaissance of British car manufacturing has been Nissan, which has pumped close to 4 billion pounds since the mid-1980s into a world-class factory in Sunderland in northeast England. Last year the company produced about 475,000 vehicles, about a third of Britain’s total, exporting about 55 percent of them to the European Union.

Yet despite the European Union’s importance to local jobs, voters in Sunderland voted overwhelmingly to leave. The Brexit camp won 61 percent of the vote compared with 39 percent for remain. Stuart Boyd, a Nissan spokesman, said on Friday that the company was not ready to comment on how it might respond.

Perhaps workers believed that Nissan sales would increase because of a weaker pound. But any stimulus to British exports from a devalued currency is likely to be offset by higher prices for imported goods. Britain has a trade deficit, so a weaker pound is on balance negative.

Another huge foreign manufacturer is Siemens, based in Munich, which has 13 factories and 14,000 workers in Britain making products like electric motors, gas turbines and trains. Siemens is not about to pull up stakes. But Mr. Maier, the Siemens chief for Britain, said the Brexit vote could force the company to recalculate some investment decisions.

For example, European Union grants help finance Siemens research and development projects in Britain in areas like self-driving cars. That financial support will disappear once Britain is out.

“The question is more about future investment, future research and development,” Mr. Maier said. “That’s hanging in the balance.”

http://www.nytimes.com/2016/06/25/bu...rove-true.html

 
Old 06-25-2016, 12:47 AM
 
2,348 posts, read 3,914,789 times
Reputation: 2198
Quote:
Originally Posted by Seacove View Post
No many of those jobs would not be there if the UK was not part of the EU. That is why many of those jobs will be leaving because of their departure from the EU. Have you read any of the articles in this same thread? Britain is due to lose a ton of jobs.

London to Lose Tens of Thousands of Jobs After Brexit
Yea yea, the typical globalist dooms day speakers, who were all for the UK remaining, and who will forecast doom and gloom constantly out of spite.

Tell me, where were all these experts before the 2008 financial crisis? Oh yea, they cannot predict things like that, nor can they predict things that will happen in the UK, hell, they did not even get the 1990's Russia crisis right.

Given these same institutions you are referring to were blindsided by the 2008 financial crisis, their opinions hold no merit with me. I would bet a year's paycheck the doom and gloom is BS. Those jobs are not going anywhere, they will just shift from one institution to another and that is all, and that is what is going to be great about the UK leaving as they will be able to regulate themselves better without the overbearing EU.

The article is BS because it speaks as if someone working in the UK will not have access to the EU market, which is false. The US trades all the time with the EU, and is not at a disadvantage by not being in the EU, so does China, Russia, Norway,etc, yet somehow you and others think the UK cannot ever set up any trade deals like those countries have? Absolutely ridiculous notion.
 
Old 06-25-2016, 12:49 AM
 
18,069 posts, read 11,048,210 times
Reputation: 9406
Quote:
Originally Posted by k350 View Post
Yea yea, the typical globalist dooms day speakers, who were all for the UK remaining, and who will forecast doom and gloom constantly out of spite.

Tell me, where were all these experts before the 2008 financial crisis? Oh yea, they cannot predict things like that, nor can they predict things that will happen in the UK, hell, they did not even get the 1990's Russia crisis right.

Given these same institutions you are referring to were blindsided by the 2008 financial crisis, their opinions hold no merit with me. I would bet a year's paycheck the doom and gloom is BS. Those jobs are not going anywhere, they will just shift from one institution to another and that is all, and that is what is going to be great about the UK leaving as they will be able to regulate themselves better without the overbearing EU.
So is that your bet? A years salary that London won't lose jobs as a result of this? What timeframe do you want?

Without their role in the EU, a lot of those companies will move their employees to an EU country. These were announcements today, it's not doomsaying, the vote is over, they are not threats, they are announcements or warnings, depending on the company.
 
Old 06-25-2016, 12:56 AM
 
2,348 posts, read 3,914,789 times
Reputation: 2198
Quote:
Originally Posted by Seacove View Post
So is that your bet? A years salary that London won't lose jobs as a result of this? What timeframe do you want?

Without their role in the EU, a lot of those companies will move their employees to an EU country. These were announcements today, it's not doomsaying, the vote is over, they are not threats, they are announcements or warnings, depending on the company.
I edited to add more, but addressing this, the time frame is about five years, three years out from the official exit.

Yes, some jobs will shift, but other jobs will come in. The UK will have trade with the EU and other countries, and jobs will be created as a result, just as they are created in non-EU countries.

You speak as if no country can survive without being part of the EU, when in fact most countries in the world are not part of the EU, and large economies like China and the US are not part of the EU. Just because the UK is geographically located in Europe does not mean it is ideal for being part of the EU. Norway understands this, now the UK does, I have no idea why so many are latched onto this idea that no country in Europe can survive without being part of the EU.
 
Old 06-25-2016, 01:03 AM
 
18,069 posts, read 11,048,210 times
Reputation: 9406
Quote:
Originally Posted by k350 View Post
I edited to add more, but addressing this, the time frame is about five years, three years out from the official exit.

Yes, some jobs will shift, but other jobs will come in. The UK will have trade with the EU and other countries, and jobs will be created as a result, just as they are created in non-EU countries.

You speak as if no country can survive without being part of the EU, when in fact most countries in the world are not part of the EU, and large economies like China and the US are not part of the EU. Just because the UK is geographically located in Europe does not mean it is ideal for being part of the EU. Norway understands this, now the UK does, I have no idea why so many are latched onto this idea that no country in Europe can survive without being part of the EU.
Except the reason the UK experienced the tremendous growth in banking and the financial markets was due to their role in the EU. They were not the financial powerhouse they are now before the EU. Now they are. Their departure from the EU will cost them many thousands of jobs. Of course they will survive, they just will be a much smaller presence which likely sounds fine to the smaller northern counties that voted so strongly for it, but London voted very strongly to remain. In fact, London is now asking if there is a way they can be separated from Britain in order to remain in the EU.

Sadiq Khan called to declare London's independence and join EU after Brexit

And many are asking for a second vote:

Tens of thousands want a do-over.

So many users are signing a petition for a re-run of Britain's referendum on European Union membership that they've crashed the House of Commons website hosting the document.

The petition passed the 200,000 mark on Friday evening, with a map of the voting indicating that most activity was in London - where most boroughs backed the "remain" camp in the referendum.

The House of Commons said it had seen "high volumes of simultaneous users on a single petition, significantly higher than on any previous occasion."

The Latest: Calls for 2nd Referendum Crash UK Website - ABC News
 
Old 06-25-2016, 03:02 AM
 
Location: Washington State
18,219 posts, read 9,441,746 times
Reputation: 15521
Quote:
Originally Posted by natalie469 View Post
Not true, there are already companies based in London talking about leaving
They are free to talk all they want. London will retain its status as a world financial center.
 
Old 06-25-2016, 03:31 AM
 
403 posts, read 519,298 times
Reputation: 447
London will remain a huge financial center BUT it will lose its momentum, London was doing really well the last few years and was the number 1 city in the world above NYC according to many institutes. Well now we will probably see London decline at least for the years to come. Paris may benefit at lot from this Brexit situation, Frankfurt too.
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