The Bank of England believes that up to 75,000 jobs could be lost in financial services following Brexit. The BBC reports that executives at the Bank believe the figure represents a "reasonable scenario". The Bank believes 10,000 jobs will be lost on day one of Brexit if there is no deal. Many positions will move to the continent.
The UK’s gambling sector is nervously awaiting the release of a government review into controversial fixed-odds betting terminals. The machines, which have been slammed as the "crack cocaine of gambling", generated more than £1.8bn in revenue for bookmakers last year. The government may reduce maximum bets from £100 to as low as £2.
Gordon Brown says bankers should have been sent to prison for their role in the financial crisis. In his memoir, the former PM argued that "if bankers who act fraudulently are not put in jail with their bonuses returned, assets confiscated and banned from future practice, we will only give a green light to similar risk-laden behaviour in new forms". He had been PM for less than two months when the financial crisis began in 2007.
France’s economy grew by 0.5% in the third quarter of 2017 – the fifth quarter of growth in a row. Stats body INSEE said consumer spending and business investment drove the trend. The growth rate in the second quarter of 2017 has been revised up to 0.6%, from 0.5%. Responding on Twitter this morning, Claus Vistesen of Pantheon Economics said Paris is now going "toe to toe" with Berlin.
Ryanair expects to make record annual profits this year, despite much-discussed disruptions that led it to cancel 20,000 flights. The carrier made profits of €1.29bn (£1.14bn) in the six months to the end of September. It is predicting a full-year profit of up to €1.45bn. Chief financial officer Neil Sorahan said he was "absolutely confident" that the airline would have enough pilots and standby pilots for next summer.
"In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control. #Brexit" Goldman Sachs chief Lloyd Blankfein takes another pop at Brexit on Twitter.
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