The full impact of the UK's 'leave' vote is still being realised...
It's very early days still and perhaps there's a bit of sabre rattling involved at this stage, but a number of major UK businesses yesterday warned of the impact last Thursday’s vote has already had on their decision-making.
Sir Richard Branson, founder of the Virgin Group and a high profile 'remain' supporter, said the company had scrapped plans for an acquisition that would have involved 3,000 jobs in Britain in the immediate aftermath of the referendum.
Meanwhile, both Vodafone and Easyjet warned that they will consider moving their headquarters from the UK.
The telecommunications group, based at Newbury outside London, said it would consider such a move if the UK’s negotiations to leave the EU resulted in a curb on the free movement of people.
More than 50% of the group’s profits are generated in EU countries other than the UK and it will now change its financial reporting from sterling to the euro
EasyJet Chief Executive, Carolyn McCall, said the airline would seek an air operator's certificate in an EU country and might, in time, have to consider moving its HQ from Luton Airport in time where it’s been since 1985.