Airbus says Brexit deal a welcome step but much work to do
Europe's biggest planemaker Airbus today welcomed the draft Brexit agreement between London and Brussels but said there needs to be more clarity to allow businesses to plan.
"The announcement of a draft Brexit Withdrawal Agreement is a welcome first step forwards but there clearly remains much work to do," Airbus chief executive Tom Enders said.
"We look forward to further clarity and the removal of uncertainty as soon as possible so that Airbus, like every business in the UK, can properly plan for the future."
France's SocGen ready in case of a hard Brexit scenario
Société Générale, one of Europe's biggest banks, is ready in case of a hard Brexit scenario, its chief executive Frederic Oudea said today.
"We have the capacity to anticipate a hard Brexit situation, and we are ready to be able to adapt to it," Oudea told BFM Business radio.
He said a hard Brexit may mean for his bank a shorter transition period than was expected.
Oudea said the current political situation in Britain was hard to predict, and that the most favourable outcome was a smooth Brexit transition.
He added he was "optimistic" over the euro, despite the problems over Brexit and Italy's economic situation.
UK car industry body says Brexit deal is only the first step
Britain's main car industry body said the Brexit agreement reached between London and Brussels is only the first step as business seeks certainty on trade.
"The outline agreement is a positive step in avoiding the devastating consequences of 'no-deal' and securing a transition period," the chief executive of the Society of Motor Manufacturers and Traders Mike Hawes said.
"It is, however, only a first step and business seeks certainty and ambition when it comes to securing a competitive future," he added.
Aston Martin still planning for the worst despite Brexit deal
Aston Martin's boss said the Brexit deal agreed by Britain and the EU is "good enough" but the company will not halt contingency plans while doubts remain over whether the agreement will be receive UK parliamentary backing.
But asked whether that would allow the company to change any of its contingency planning, which includes potentially flying in components and changing ports to maintain its output, Andy Palmer said there was not enough certainty at this point.
He said a board meeting next month would decide whether to trigger such plans.
"No-deal Brexit is a disaster because you're into tariffs at the borders, you're into essentially logjams at the border, you're into discussions about your labour," he said.
UK politics instability raises British ad market uncertainty - JCDecaux
A series of cabinet resignations in Britain over a draft divorce deal with the European Union reinforces uncertainties over the future of the country's ad market, the co-chief executive of outdoor advertising company JCDecaux said today.
"The situation is obviously very serious," Jean-Charles Decaux told Reuters in an interview on the sidelines of the Morgan Stanley TMT conference in Barcelona.
"Today's events reinforce the uncertainties in this market," the French company's executive added.
JCDecaux, the world's leading outdoor advertising company, manages the bus shelter advertising concession by Transport for London.
Britain is its third biggest market and represents 10% of its total revenues.
Property firms Bovis, Great Portland flag Brexit uncertainties
Property firms Bovis Homes Group and Great Portland Estates flagged uncertainties from Brexit, but said they were prepared for the change.
Homebuilder Bovis said that discretionary buyers were holding back on purchases as they wait to see how Brexit will affect the sector.
The UK housing market has slowed since 2016, particularly in London where higher purchase taxes and less foreign investor interest since the Brexit vote have had the most impact.
Meanwhile, central London property developer Great Portland Estates said it was planning for continued uncertainty in the markets due to the ongoing Brexit negotiations, but added it remains "exceptionally well positioned."
A closely-watched industry survey earlier this week showed that demand for new office space in London will continue even with the imminent exit of UK from the European Union.
Great Portland's portfolio is dominated by offices but also includes some retail and residential property.
