07-23-2016, 07:45 AM
Securities trading in Frankfurt will probably experience an upswing in the wake of Britain’s decision to leave the European Union, with Germany’s banking capital emerging as one of the main beneficiaries in the changing landscape, according to a survey of German financial professionals. More than three-quarters of the respondents said trading and settlement would gain while asset management, corporate banking and professional services are also likely to benefit.
Frankfurt’s Trading Importance Set to Grow Post-Brexit: Chart - Bloomberg
Members of the U.K.'s science and agriculture industries have already begun to voice concerns about the impact on funding and labour as a result of the Brexit vote to leave the European Union. Seven major science academies, including The Royal Society and the Academy of Medical Sciences, have signed an open letter warning there have been immediate implications from Brexit and called for assurances from the U.K. government that academics from the EU will be allowed to stay and that funding for U.K. science will be maintained.
Brexit already impacting UK science and farms
Britain's decision to leave the EU has led to a "dramatic deterioration" in economic activity, not seen since the aftermath of the financial crisis. Data from IHS Markit's Purchasing Manager's Index, or PMI, shows a fall to 47.7 in July, the lowest level since April in 2009. A reading below 50 indicates contraction. Both manufacturing and service sectors saw a decline in output and orders. However, exports picked up, driven by the weakening of the pound.
Brexit causes dramatic drop in UK economy, data suggests - BBC News
The first real signs of distress in the market for luxury London apartments are starting to emerge, as investors who agreed to buy homes off-plan are starting to sell them on for less than they agreed to pay for them. Property websites are now advertising many unfinished flats being offered for sale by the buyers who originally agreed deals with the developers. Estate agents and developers are generally coy about how much sellers were expecting to pay on completion, but some listings reveal that people are selling at or below the original purchase price, hoping the “bargain” price might pull in a new buyer.
Jitters in London luxury flat market as investors sell for 'bargain' prices | Society | The Guardian