Bitesize Blighty: June 22, 2018

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  • UK companies are shifting investments of tens of millions of pounds offshore as a result of Brexit, the outgoing president of the CBI has said. Paul Drechsler, who will step down from his role at Britain’s largest business lobby group on Tuesday, said there was “a limit to how long you can put up with uncertainty". “There are several CBI members that have made substantial investments outside of the UK in order to have contingency plans available,” he said in an interview last week.

 

  • From today the European Union has imposed tariffs on US goods, in retaliation to Donald Trump imposing tariffs on EU steel and aluminum importers. The goods targeted include typical American exports like bourbon, peanut butter, cranberries and orange juice, in a way that seems designed to create the most political pressure on Trump and U.S. politicians. Harley-Davidson is from Wisconsin, the home state of Republican House Speaker Paul Ryan; and bourbon is a big product of Kentucky, where the Senate majority leader, Republican Mitch McConnell, is from. The full list of items includes quite a few sassy references to classic American products, but we have to note that pecan pie is missing.

 

  • England began their World Cup campaign with a 2-1 win over Tunisia on Monday. The team is off to the second group stage game as they look to follow up their opening victory on Monday with all three points against minnows Panama. The England vs Panama match is the first of the day on Sunday, June 24 and will kick-off at 1pm UK time. “Come on, Eng-er-land!!!”

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