The financial service sector contributed over £128 billion to the economy last year, and accounted for over 2.2 million jobs across the country. It also paid £71.4 billion in tax in 2015. It's thought Theresa May needs a transitional deal in order to give the sector time to adapt to life outside the EU. James Brydges spoke to Mark Boleat, Policy Chairman of the City of London Corporation, and first asked whether there were any surprises in the letter to Donald Tusk.
Anglo Pacific, the only natural resources royalty company to be listed in London, has released full year results today. The company invests in mining projects and then receives a proportion of the revenues they generate. Julian Treger, CEO of Anglo Pacific spoke to Nigel Cassidy to discuss how the company's doing and what they're up to at the moment.
Joining Nigel Cassidy today is Mike Van Dulken, Head of Research at Accendo Markets to discuss the top finance stories. Britain's FTSE 100 index is seen opening down 5 points, according to financial bookmakers. Plus they looked at some of the winners and losers as the Brexit process begins – nine months after the leave campaign triumphed.
A big legal defeat has driven Uber out of Denmark. A new law requires all taxis to have expensive seat sensors, meters, and video surveillance, meaning Uber is an "illegal taxi service" and not a "ride sharing app" as it claims. The ride-hailing company says it's closing it's business from mid-April. Matt Cox spoke to Paul Henty, Partner and competition law expert at law firm Charles Russell-Speechlys.
Truckman, the West Midlands-based automotive manufacturer, has made a sharp U-turn on its stance on Brexit. The company was firmly anti-Brexit and has now become a supporter of leaving the EU and has set it's sights on doubling its export activity by targeting countries including Belgium, France, Germany, the Netherlands, Luxembourg and Sweden. Chairman Mike Wheeler joined Nigel Cassidy to discuss the change of heart.
Theresa May will trigger Article 50 later. There'll be much scrutinising of the text of hints about where the coming negotiations are going, both in Brussels and London. The tone and the contents will form the basis for the EU's response. Joining Nigel Cassidy is Chris Bailey, Founder of Financial Orbit.
The pharmacy industry is trying to assess the likely impact of a £128 million government move to stop GPs writing prescriptions for 'low-priority' items. You could soon be stopped from getting travel jabs, gluten-free foods and omega-3 supplements on the NHS. You may have heard it confirmed yesterday that 10 treatments are involved in the first round of the shake-up by NHS England chief executive Simon Stevens. What difference will this make? Galen Rosenberg, owner of the Maple Leaf Pharmacy spoke to Nigel Cassidy to discuss this further.
Theresa May's letter signalling our EU exit will be delivered in around 4 hours in Brussels firing the starting gun on the UK's formal exit negotiations. Despite May's positivity, many will be asking 'what does this mean for me?', including investors. Joining Nigel Cassidy to discuss what investor's might look forward to over the next couple of years is Richard Stone, CEO of The Share Centre.
Today, the new 12-sided pound coin is entering circulation. The coin has not changed in 30 years, however due to the high volume of fake pound coins in circulation - up to three in every 100 - Royal Mint and The Treasury had no choice but to protect the integrity of currency in the UK and change the coin. So what does this huge change mean for the vending industry? There's half a million vending machines which will require a software upgrade. Jonathan Hart, CEO of Automatic Vending Association spoke to Nigel Cassidy this morning.
According to the latest Adzuna Job Market Report, the total number of job vacancies has increased by 3.5%, highlighting the growth within the jobs market and the diversity in terms of opportunities available for jobseekers. In terms of salaries, monthly wage growth has started to pick up speed, rising 0.3% between January and February. Generally the report looks positive, however with Theresa May about to trigger Article 50, the job market could see another shake-up. Joining Nigel Cassidy is Becky Barr, author of the report to discuss further.