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UK's expectations of Brexit talks 'unrealistic'

UK's expectations of Brexit talks 'unrealistic'

Business
The UK is unprepared and is entering Brexit talks with "unrealistic" expectations, according to a City economist.Malcolm Barr, who works for JP Morgan, one of the world's largest banking institutions, said of the Brexit negotiations: "I'm not convinced that (the UK is) really very well prepared at all, to be perfectly blunt."He told Sky's Ian King Live programme: "I think that some of the expectations which this administration has encouraged people to have about what can be delivered through the Brexit process are a little bit unrealistic, in terms of what the whole process can deliver and how quickly we can work through and actually be delivering the things we've said we want in terms of control of migration, control of our regulatory and legal structures."The idea that we're going to be ...
Fruit and veg farmers facing migrant labour shortages

Fruit and veg farmers facing migrant labour shortages

Business
Media playback is unsupported on your deviceUK summer fruit and salad growers are having difficulty recruiting pickers, with more than half saying they don't know if they will have enough migrant workers to harvest their crops.Many growers blame the weak pound which has reduced their workers' earning power, as well as uncertainty over Brexit, according to a BBC survey. About 80,000 seasonal workers a year pick and process British fruit and veg. Most of them are from the European Union, mainly Romania and Bulgaria. Are you an EU seasonal worker planning to work in the UK this summer to pick fruit and vegetables? Email us at haveyoursay@bbc.co.uk and include your telephone number if you are willing to speak to a BBC journalist. One in five growers says they already have fewer pickers than t...

Bell contracts with U.S. Army for four 412EP helicopters

Business
June 21 (UPI) -- Bell Helicopter Textron has received a $ 27 million contract for the manufacturing and delivery of four Bell 412EP helicopter to the U.S. Army, the Department of Defense announced Tuesday.The contract was solicited on the Internet with one bid accepted. Work will be conducted in Ft. Worth, Texas, and is expected to be completed by Nov. 30 2017. Fiscal 2017 funds in the amount of $ 27.2 million have been obligated upon award.The Bell 412 is a twin-engine light utility helicopter used by both by militaries and civilian agencies and is one of the most widely exported helicopters in the world. The EP variant has been upgraded with more powerful engines for speed, greater reliability and lift capacity.The helicopter is used by militaries to transport personnel and equipment, ...

Norwegian oil production better than expected

Business
June 21 (UPI) -- Crude oil production from Norway, the region's top supplier, was better than expected, a national energy regulator said Wednesday.Norway is a main oil and natural gas supplier for the European economy, designating nearly all of its offshore production for exports. The Norwegian Petroleum Directorate, the nation's energy regulator, said preliminary figures for May were lower than the previous month, but better than expected.Based on preliminary data, the average production for May was 1.98 million barrels per day for oil, natural gas liquids and condensate, an ultra light form of oil. That's about 5 percent less than the previous month.About 80 percent of the total volume was oil and the NPD said the 1.61 million barrels per day average was 2.8 percent higher year-on-year a...
Barclays charged with fraud in Qatar case

Barclays charged with fraud in Qatar case

Business
Barclays and four former executives have been charged with fraud over their actions in the 2008 financial crisis.The Serious Fraud Office case relates to the billion of pounds the bank raised from Qatari investors enabling it to avoid a government bailout.Former chief executive John Varley is one of the four ex-staff who will face Westminster magistrates on 3 July.Barclays says it is considering its position and awaiting further details."The charges arise in the context of Barclays' capital raisings in June and November 2008. Barclays awaits further details of the charges from the SFO," the bank said in a statement.It is the first time criminal charges related to the financial crisis have been brought against a bank in the UK.Mr Varley, former senior investment banker Roger Jenkins, Thomas...