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Bank of England believes Brexit could cost 75,000 finance jobs
The Bank of England believes that up to 75,000 jobs could be lost in financial services following Britain’s departure from the European Union. I understand senior figures at the Bank are using the number as a “reasonable scenario”, particularly if there is no specific UK-EU financial services deal. The number could change depending on the UK’s post-Brexit trading relationship with the EU. But the bank still expects substantial job losses. Many jobs will move to the continent.
UK consumers willing to spend despite lower confidence
A deepening sense of economic malaise is failing to damp down British consumers’ enthusiasm for spending. While a closely-watched gauge of consumer confidence in the UK edged further into negative territory in October, a measure of consumers’ willingness to make major purchases such as furniture and white goods picked up. The consumer confidence index produced by research house GfK slipped one point to minus 10 in October, in line with economists’ forecasts. But the major purchase index rose for the third month in a row, adding two points to stand at plus three — although it remains well below its level of plus 14 a year ago.
Waymo works on reassuring passengers over self-driving cars
Google-owned Waymo this week showed off its first attempt at a “user interface” for autonomous cars — technology designed to reassure passengers who have surrendered control to the whim of a robot. With driverless cars moving ever closer to reality, the companies building them are turning their thoughts to a new problem: how to overcome the fear and anxiety that humans feel when riding in them. Surveys reveal a “spectrum” of attitudes, with some people “sceptical and very scared” of the technology, said Dmitri Dolgov, vice-president of engineering at Waymo.
Motorists warned to delete scam speeding email claiming they’ve been caught
Motorists in the UK have been warned to delete any emails claiming they have been caught speeding. The “Notice of Intended Prosecution” emails have been sent by fraudsters claiming to be from the Government or police. They claim to have “photographic evidence” of the “offence”. Police say the emails lead to a banking trojan malware, which can be used to access or track personal information on computers. Those who receive the email are advised to report it to Action Fraud and delete it, without clicking on any links or attachments. Legitimate notices of intended prosecution are never sent by email. Instead they are sent via Royal Mail to the Driver and Vehicle Licensing Agency (DVLA) registered address.
Toxic air kills 40,000 a year: Pollution levels in 43 UK towns and cities breach safety limits as rush to promote diesel vehicles is blamed
Toxic air is killing people in nearly every part of the UK, a report suggests today. Pollution levels in 43 of our largest towns and cities are so high they breach global safety limits. The cost is put at 40,000 premature deaths a year and six million sick days. Publishing in the Lancet medical journal, researchers said the promotion of diesel cars by previous governments was a ‘key driver’ behind the problems. They warned dirty air damaged health ‘from cradle to grave’ – exposing tens of millions of Britons to the risk of heart problems and lung disease.
London, Glasgow, Leeds and Birmingham were rated as heavily polluted in the study backed by 26 groups including the Royal College of Physicians.