In 1975 when I was two years old “IP” meant something different from intellectual property – but that’s when the powers-that-be started saying “wouldn’t it be great if a patent covered the whole of Europe ” Over 40 years later, on the cusp of that dream becoming a reality, the Europe-wide patent has been killed by the Brexit decision.
When the Bank of England and governor Mark Carney cut interest rates to an all-time low of 0.25 per cent it was an admission that a storm is here – and it might be here to stay.
The vote of the UK to leave the EU seemed to take everyone by surprise, not least the foreign exchange markets. In the immediate aftermath of the vote, sterling fell by up to 13 per cent against the US dollar and up to 11 per cent against the euro.
One month in, and you’d be forgiven for already feeling a little Brexit-fatigued; the rolling news, political uncertainty and long-term time frames can seem overwhelming and prompts feelings of apathy.
As we now move past a month since the historic Brexit referendum vote, entrepreneur Richard Upshall argues that trading opportunities are abundant – and even goes as far as suggesting Donald Trump becoming president would be a boon for the UK.
Day two of the Sage Summit 2016 has come to an end. With Richard Branson the main attraction for the day, other developments saw Sage CEO Stephen Kelly talk inspiration, the Internet of Things and instant messaging met finance, while international trade minister Liam Fox dropped into Chicago to discuss the UK-US relationship in the post-Brexit world.
It’s easy to get fixated on what the terms of any Brexit deal are likely to be, and therefore what kind of market access we are likely to enjoy. We can though be relatively certain that a deal will be worked out that gives UK firms, whether exporting goods or raising capital, access to the EU.
George Osborne replacement Philip Hammond is currently on an overseas assignment in China, which will see him encourage business and investment ties between the country and Britain.
The European Central Bank (ECB), as part of its stimulus package, has been merrily buying bonds in a multitude of EU domiciled companies at a mind boggling pace of €300m a day. If that isn’t mega State Aid then I’m the Dutch president of finance ministers.
As the country prepares for an extended period of uncertainty following the Brexit vote, SME bosses have been urged to focus closely on cash management and spreading their funding risk.
