29/03/2017 London News


29/03/2017

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And for a majority of Londoners who hoped there might just be

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a slight chance that Brexit won't actually happen...

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But what about the City of London which said back in June

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that there could be a mass exodus of jobs and banks?

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That hasn't actually happened, and so Karl Mercer has been finding

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out if that means the City has changed opinion on Brexit,

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or if it's just showing a stiff upper lip.

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The ancient body that runs a City of London has

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a motto, it translates as, "Lord, guide us".

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The local church perhaps not going that far today,

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but at least offering a little comfort for those

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Because these were the headlines the day after last June's

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referendum, when the vote to Leave seemed to catch

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So this is the aftermath of the June Brexit vote.

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Since then the pound has stabilised, but concerns with some

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Worries about London losing business and jobs to other cities persist,

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but this market watcher believes the city will be able to cope.

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This scale of the changes that are going to be implemented over

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the course of the next few years are going to be gradual,

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as opposed to the systemic shock that we got in 2008.

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We do know that some City firms have already said they may move some

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staff out of London to other European cities.

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HSBC have confirmed 1000 jobs, JP Morgan reported up to 4000,

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UBS reported up to 1500 jobs and Morgan Stanley around 1000.

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The man who heads up the City of London Corporation admits

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further jobs could go, but how many?

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From sort of 2000, if we kept the existing level of access

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to the EU, up to perhaps 75,000 if we didn't.

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That's a pretty hefty range, and it rather indicates

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that the nature of the Brexit is rather more important

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It may mean, of course, that the UK has to look to other

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markets in the future, but London has faced plenty

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It still has a truly global reputation and pull and has proved

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The rest of Europe has been eyeing our financial

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services very enviously, and so they are going to try

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and target ways in which they might be able to take a slice of our pie.

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In my judgment, I think that's going to be a fairly small slice,

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so I think London will be quite resilient.

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But that's going to be an important feature of these negotiations.

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The truth is that those working in the City,

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like the rest of us, don't know for sure

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The full impact of Brexit won't be known for years.

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So, on this the day the first formal step was taken

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for Britain to leave the EU, developments are continuing

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to happen this evening which will shape the way London

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We can go to Louisa Preston, who's following what's going on.

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Yes, as we have heard, there is talk that some of the banks will move

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stuff out of the City here in London and relocating Europe. But it has

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actually been reported tonight that Lloyd's of London will create a new

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office in Europe, officers in Brussels and about 100 staff are

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expected to move from London over to Brussels. We are not sure when that

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will happen and a statement is Jude tomorrow. I have spoken to

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businessmen and Leave campaigner John Mills earlier this evening, he

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said the City needs to look further field. -- Luffield.

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The City doesn't really depend terribly heavily

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on revenue and income from the European Union anyway.

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And I think very little of that, really, is at risk.

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And I think the big opposition, the big competition that the City

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has, actually, is from Singapore and Hong Kong and New York

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and Shanghai, not from Paris and Frankfurt.

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We must not forget that London is really seen as the main player when

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it comes to financial services. The question is tonight, how long will

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it keep that top spot? Of course, the main focus is on the City behind

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me, arm the banks there, but what about the millions of small and

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medium-sized businesses across the capital? Sarah Harris has been

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finding out how they will fire. Three men, all born in different

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European countries, have set up businesses on the same industrial

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estate in South East London. When it comes to their views

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on Article 50 being triggered He may have been born

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in Cyprus but John considers He sells his products all over

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the world and says he was offended when Leave voters like him were told

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they didn't understand the issues. The people that don't understand

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are the people that voted They're the people that don't

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understand what it is to be independent, free, world markets

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that are there waiting for you - you - to get out off your backside

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and get out and find it. In the unit opposite John's

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is Stefano, an Italian businessman His company employs staff

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from the EU, using expertise to deliver control panels to be used

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in schools and hospitals. I am more worried

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for the short-term. Surely there will the trade

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agreements that I'm hoping that the Government will establish,

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will eventually benefit the economy and with a domino effect,

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will affect our business. Next door on Forest Hill Industrial

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Estate is Ingo, born in Germany, he's been in London for 20 years,

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with his specialist company Worst-case scenario,

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that I won't be able Can't really see that

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happening, but that would be And our product, our main product,

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which is made in France, will become more expensive

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and our profit margins shrinking. There's a question over

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whether a community of European entrepreneurs could come together

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like this post Brexit. For now, though, they'll go forward

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with varying degrees of optimism. Well, tonight the Mayor of London

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is back after a brief trip to Europe when he tried to convince EU leaders

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that London is and will continue to be the place to invest

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and do business with. It's no secret Sadiq Khan didn't

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want Britain to leave the EU - and earlier on his train journey

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back to London from Paris he went as far as to admit

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to our political editor, Tim Donovan, that he was actually

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heartbroken at the process The British public have

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voted to leave the EU. My job as the mayor is to work

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closely with the Government where I can, constructively,

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to make sure we get But, if it's the case I think that

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they're not acting in London's best interest then I won't be afraid

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to speak out. This key issue of immigration,

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what does a good deal now look like in terms

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of immigration for London? One of the things I've been

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stressing to the Government is, though, London is not the same

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as the country. I accept certain parts

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of the country voted to leave the EU because of

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anxieties around immigration. Whether or not they need it

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or not is different. I understand certain parts

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of the country don't want it. You say you want it,

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we've been getting 30,000 odd East Europeans in every year over

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the last ten years, do you want to see that

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figure go up or go down? I want to make sure we can meet

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the needs of London. That means, obviously,

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skilling up Londoners to have these skills for the jobs that we create

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in construction or tech and financial services but also

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recognising that one of the reasons why we are the greatest

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city in the world is our Sadiq Khan speaking to Tim Donovan

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earlier. Well, when it came to the EU

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referendum in June, on balance That wasn't the case

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across the board, with strong views So, nine months on, we went back

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to see if an area which voted And if locals in a remain area

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still felt the same. I think people have just become more

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and more frustrated with the fact that it's going to happen,

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and we don't know exactly what's going to happen,

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we don't know how it's I done it for my children,

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I done it for their future. You know, it's going

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to be hard work. Other news now, and a man has died

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after being attacked The Staffordshire bull terrier

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turned on 41-year-old Mario Perivoitos while a BBC film

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crew was with him. The dog isn't included under

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the Dangerous Dogs Act. It's currently being

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held in secure kennels. The family of Mark Duggan,

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whose fatal shooting in Tottenham by police sparked the London riots

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in 2011, have lost a challenge over an inquest jury's conclusion

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that he was lawfully killed. Mark Duggan's mother,

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Pamela, had asked the Court of Appeal to make an order

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quashing the verdict. On the day that hundreds of people

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gathered on Westminster Bridge to remember the victims of last

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week's terrorist attack, the Metropolitan Police's Acting

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Commissioner cautioned against rushing to change policing

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in and around Parliament. Craig Mackey said more security

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checks could create more queues at Parliament -

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and could increase That's it for now from me, but let's

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find out what the weather's up Getting better, not looking too bad?

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It is spot-on, we had quite a lot of cloud today. Tomorrow it gets much

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better, more sunshine to go around, it will be the warmest day of the

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year so far. Overnight tonight, lots of cloud. With the cloudy skies it

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will stay mild, temperatures around 11 degrees, and then tomorrow we

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start off with the cloud, it should thin and break with sunshine coming

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through, keeping the sunny skies for the most part of the day, but it

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will never be June clear. There will be patches of cloud making it hazy,

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but a decent day. Temperatures, they should reach 2122 in the warmest

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spot, the warmest day of the year so far. The outlook for the next few

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days, temperatures coming down a bit but staying decent for this time of

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year. Here is Darren Bett with the national weather.

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The warm air coming up on a southerly breeze all the way from

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Iberia and across France into England and Wales. To achieve the

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high temperatures we need to get into some of this dryer air and

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sunshine. Even with the cloud today, 17 degrees. Not just about the

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temperatures, let's not forget there is some rain around as well. Quite

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wet in Pembrokeshire for much of the day. More rain overnight tonight,

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some rain and drizzle in northern and western areas. Wetter weather

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moving northwards across Scotland. Some rain in the south-west,

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shuffling towards the Midlands. Overnight, a lot of cloud around. It

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is going to be very mild indeed for the time of year, 11-12 in many

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parts of the country. This is an sunshine beginning to creep into

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