English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

UPS warns against 'Brexit'

LONDON: June 03, 2016. The head of United Parcel Service in the UK Luis Arriaga has joined the CEOs of HSBC, BT Group, JP Morgan, PwC and corporate leaders in warning that a British exit from the EU “will damage the UK’s thriving service sector and put jobs at risk”.

Insurance industry leaders also warn that an exit from Europe will mean likely job losses among the 34,000 people employed directly in London’s commercial insurance sector.

Over 25 million people work in the UK service sector that includes retail, hospitality, transport, professional and financial services. According to a new report by Frontier Economics, the group contributes an annual £68 billion in exports to the UK economy.

UPS SHANGHAI Overall, 2,050,000 jobs in Britain are linked to the country's service sector’s exports to other EU countries.

Services now account for 79 percent of the UK economy – contributing £1.3 trillion to GDP a year.

In a statement against leaving the EU the CEOs noted: ‘Britain’s service sector includes everything from retail to the arts, from finance to education, and from hotels to architects. It accounts for around 80 percent of value added and 80 percent of employment, making it the jewel in the crown of British industries.

"As the leaders of some of Britain's biggest service businesses we believe that a vote to leave the EU would damage the UK's thriving service sector and put jobs at risk. We want to ensure that Britain remains a leader in this vital field, and that is why we support the UK remaining in the EU on June 23.”

The chief executives have also been joined by 60 start-up investors with over £14 billion under management in Britain who say tech companies rely on access to the Single Market and being able to easily recruit talented workers from across the EU.

In an open letter the investors said: “Every credible financial institution - from the IMF and the OECD to the Treasury - have made clear that Brexit would lead to an economic shock. Start-ups would be the biggest victims of such a shock, endangering the firms that everyone has come to love and rely on, and who will form major elements of our economy in the future.

“That is why those of us who can will vote to stay in the European Union and all of us urge Britain to remain.”

Last month UPS opened its first UPS Access Point in Vienna for package pickup and drop off at local businesses including neighborhood grocery stores, tobacconists and petrol stations. There are currently more than 15,000 UPS Access Points across Belgium, Luxemburg, France, Germany, Italy, the Netherlands, Poland, Spain and the UK.

News

Written on 26/06/2017, 21:45
making-the-best-of-an-ipoHANGZHOU, China: June 26, 2017. Best Inc., a logistics company backed by the Alibaba Group, has applied for a listing on the New York Stock Exchange and...
Written on 23/06/2017, 20:22
xpo-hit-by-port-strikeLOS ANGELES/LONG BEACH: June 23, 2017. Port and rail drivers working as independent contractors for XPO Cartage, part of XPO Logistics, began a strike...
Written on 21/06/2017, 22:44
more-disasters-but-less-moneyGENEVA: June 21, 2017. The United Nations says it needs US$23.5 billion in 2017 to provide humanitarian assistance to a record 141 million people in 37...
Written on 21/06/2017, 20:19
switzerland-remains-the-world-s-most-innovative-countryGENEVA: June 21, 2017 – Switzerland, Sweden, the Netherlands, U.S. and UK are the world's most innovative countries according to a new report by produced...
Written on 21/06/2017, 16:53
fedex-and-ups-among-best-civic-minded-u-s-companiesSEATTLE: June 21, 2017. FedEx and UPS are among the 50 most community-minded companies in the United States according to the latest 'Civic 50' list from...
Written on 16/06/2017, 20:37
eu-commercial-drones-by-2019-says-commissionBRUSSELS: June 16, 2017. The European Commission says commercial drones flying in a 'U-Space' under 150 meters from the ground will be operate in the EU...
Written on 16/06/2017, 19:00
collaboration-and-compromise-key-to-uk-trade-futurePARIS: June 15, 2017. The OECD is forecasting a 1.7 percent rise in UK GDP this year and just 1.0 percent in 2018 as uncertainty rises of Britain not...
Written on 16/06/2017, 15:01
amazon-to-buy-bricks-and-mortar-grocer-for-us-13-7-billionSEATTLE: June 16, 2017. Amazon has agreed to buy Texas-based Whole Foods Market (WFM) for US$13.7 billion including debt. WFM reported Q2 2017 net sales...
Written on 15/06/2017, 20:35
amazon-to-sell-cars-in-britain-delivered-by-emirates-skycargoLONDON: June 14, 2017. Amazon is hiring automotive experts as a prelude to selling cars in the UK according to eCommerce delivery company Parcel...
Written on 12/06/2017, 16:13
qatar-airways-adds-dublin-as-profits-riseDOHA, Qatar: June 12, 2017. Despite continued uncertainty in Qatar following political and economic sanctions imposed by neighboring GCC countries, Qatar...
Written on 09/06/2017, 16:35
spanish-port-strike-continuesBARCELONA: June 09, 2017. Some 6,000 Spanish dockworkers are expected to continue their strike action until June 24 unless a meeting between their union...
Written on 07/06/2017, 01:08
we-are-still-in-say-u-s-states-and-businessesWASHINGTON, DC: June 05, 2017. Ignoring Donald Trump, 1,219 governors, mayors, businesses, investors, colleges and universities in the U.S. have declared...
Written on 06/06/2017, 19:35
iata-repeats-call-for-trade-freedomCANCUN, Mexico: June 06, 2017. IATA's 73rd annual general meeting has called on governments to implement the World Trade Organization's (WTO) Trade...
Written on 05/06/2017, 20:34
qatar-cargo-to-operate-perishables-airliftDOHA: June 05, 2017. The Qatar Cargo weekly A330 freighter service to London Heathrow that began on June 03 could be part of a food airlift if the Saudia...
Written on 01/06/2017, 20:52
u-s-not-so-competitiveLAUSANNE, Switzerland: May 31, 2017. The United States is no longer one of the top three competitive countries in the world according to a new 63-country...
Written on 01/06/2017, 18:57
rickmers-group-files-insolvency-following-bank-moveHAMBURG: June 01, 2017. The Rickmers Group has declared insolvency following the rejection by HSH Nordbank of a proposed financial restructuring. Last...
Written on 01/06/2017, 14:07
exxon-mobil-low-carbon-future-as-trump-pulls-climate-plugBOSTON, MA: June 01, 2017. As expected, Donald Trump has announced the United States is withdrawing from the Paris Agreement on climate change, despite...
Written on 26/05/2017, 16:16
powerful-future-ahead-for-madagascarPORT LOUIS, Mauritius. May 24, 2017. Volga-Dnepr Airlines has now completed a series of flights begun in March to deliver power generators from Mauritius...
Written on 25/05/2017, 20:07
rhinos-return-to-rwandaAKAGERA, Rwanda: May 25, 2017. Ten years after the Eastern black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 25/05/2017, 18:33
port-everglades-gets-expansion-go-aheadPORT EVERGLADES, FL: May 24, 2017. Port Everglades is to invest US$437.5 million to add new berths for larger cargo vessels and install crane rail...

- powered by Quickchilli.com -