Brexit business impact tracker

UK insurer Hiscox will set up its new EU subsidiary in Luxembourg as it plans for life after Brexit, opting for the duchy over Malta. In an announcement on Tuesday, Hiscox said all its European business would be written through its new continental subsidiary, with the Luxembourg base covering compliance, risk and internal audit. Hiscox is at least the third large insurer to have selected Luxembourg as its EU location, following similar commitments by U.S. insurer American International Group and U.S. commercial property insurer FM Global. The Lloyd's of London insurance market, where Hiscox is an underwriter, has chosen Brussels for its new EU outpost.

The head of Goldman Sachs has warned that the City of London “will stall” and may see its position as a global finance centre erode because of Brexit. Lloyd Blankfein, chief executive of Goldman Sachs, said on Friday that the US investment bank does not have any “big plans” to move many of its 6,500 UK-based staff out of the country. But he said “we may have to do things prematurely” if there is no agreement on “an implementation period” of at least two years to allow companies to adjust to the outcome of Brexit negotiations.

JPMorgan Chase said that it was planning to move “hundreds of people in the short term” from the UK to its three other European subsidiaries in Frankfurt, Luxembourg and Dublin.

Standard Chartered has announced plans to establish a new EU subsidiary in Frankfurt, becoming one of the first banks to select Germany’s main financial centre as its alternative European hub to cope with the disruption of Brexit.

International banks may be forced to make “bigger plans” to move operations from the UK after Brexit if the UK does not do more to help them, UBS chief executive Sergio Ermotti warned.He reiterated previous comments that UBS would take a final decision on its Brexit strategy by “the end of summer, the beginning of fall”. The bank has previously said it might have to move 1,500 staff out of the UK because of Brexit.

Goldman Sachs has warned that clients will foot the bill if Brexit leaves the US bank with a higher cost base.

A senior Deutsche Bank executive has warned that nearly half the German lender’s 9,000 staff in the UK could be forced to leave the country under pressure from regulators because of Brexit. Ms Matherat, a former deputy director-general at the French central bank who joined Deutsche three years ago, told a conference in Frankfurt that 4,000 staff could be forced to relocate to keep serving EU-based clients if the UK lost access to the European single market.

The UK’s decision to leave the EU has spurred a leading private equity law firm to move 10 per cent of its staff out of London in favour of Luxembourg, further compounding fears for the long-term future of the buyout industry. MJ Hudson, a legal firm that advises private equity groups, has revealed it is moving 15 people to the principality within the next 12 months as it seeks ways to continue trading with Europe in the event of a hard Brexit.

JPMorgan is in talks to buy a new building in Dublin, but has told London staff it will not “rush into any decisions” on how it will adjust its operations after Brexit. Bloomberg reported that the US bank was in talks to buy a 130,000 sq ft office in the centre of the Irish capital that could accommodate about 1,000 people.

DFS announced its first special dividend alongside its half-year results on Thursday, as the unexpected resilience of the UK economy since the Brexit vote supported sales at the country’s biggest furniture retailer.

Lloyd’s has confirmed that it will open a new office in Brussels in response to Brexit. Faced with the loss of passporting rights from its London home, the insurance market has decided to put its new operation close to the heart of EU decision making.

Citi is preparing for a “hard” Brexit that could force it to relocate jobs from the UK and create a new broker dealer entity in the EU, the bank’s EMEA boss Jim Cowles has told staff.

Imperial Brands, the UK’s second largest tobacco company by revenues, has been given a lift to its revenues from the pound’s weakness following last summer’s Brexit vote.

Chief executive Ashley Highfield blamed economic uncertainty created by last June’s Brexit vote for a drop in advertising revenues, particularly from small and medium sized businesses who make up the core of the group’s advertising market.

In the wake of warnings from the European Commission that UK planes could face severe restrictions on European flights immediately after a “hard” Brexit, Ryanair warns that time is short, with a “distinct possibility of no flights between Europe and the UK for a period from March 2019 in the absence of a bilateral deal.”

Bertelsmann, Europe’s biggest media company by revenues, may move some of its business from London in the event of a hard Brexit, amid concerns a British withdrawal from the single market could leave the company with a massive tax bill.

Brait, the South African investment group, has cancelled plans for a London listing of its shares, blaming uncertainty over the UK’s exit from the European Union.

Eurazeo, one of Europe’s largest listed private equity groups and owner of Europcar and Moncler, has posted a 5.3 per cent increase in revenues to €4.3bn. But the group saw profits affected in portfolio company Fintrax, which offers VAT refunds, as a result of the drop in the British pound.

The decline in recruitment company SThree’s British business accelerated at the start of the year, with Brexit uncertainty and public sector cuts weighing on its first-quarter profits.

Mars, the US manufacturer of the eponymous bar, warned of a rise in chocolate prices in the UK unless Britain secures a favourable trade deal with the EU once it quits the regional bloc.

PageGroup encountered a wobble in the UK last year thanks to Brexit-induced uncertainty, but the effect of currency swings and growth in continental Europe boosted profits at the recruitment group.

Julius Baer, Switzerland’s biggest standalone private bank, sees Brexit as an opportunity to acquire a rival in the UK, according to its chief executive. But despite its enthusiasm for a UK acquisition, Julius Baer has paused plans for a European hub there because it believes Brexit will dent the UK’s economic growth.

Carlos Tavares, chief executive of Peugeot owner PSA, has promised to step up the company’s presence in the UK in the event of a “hard Brexit” in a potential boost for the British car industry.

Deutsche Telekom has taken a €2.2bn charge on its investment in BT, pushing the German group to a fourth-quarter loss in 2016. Europe’s largest telecoms company blamed the Brexit vote, a decline in the value of sterling and the collapse in BT’s share price for the write-off.

Capita, the British outsourcer, ousted its chief executive Andy Parker as it blamed a 33 per cent drop in pre-tax profits on a slowdown in contract wins since Britain’s decision to leave the EU.

ITV has blamed economic and political uncertainty for the first annual fall in advertising revenue since 2009 when the UK economy was hit by the global banking crisis.

High street bakery chain Greggs has reported an increase in sales and profits for last year but warned of the prospect of rising inflation in the UK economy.

Associated British Foods has said it expects a “substantial” increase in sugar profits this year compared with last, but reiterated that earnings at Primark — the clothes retailer that is its main profits motor — would come under pressure from the weak pound.

BMW is considering making an electric version of the Mini outside the UK because of the uncertainty posed by Britain’s decision to leave the EU.

International Airlines Group on Friday reported a 9 per cent rise in operating profit for 2016 and announced its first ever share buyback, worth €500m, as the company disclosed a €460m hit to earnings mainly stemming from sterling’s weakness after Brexit.

James Bond’s favourite car company has been hit by Brexit. Pre-tax losses at Aston Martin rose 24 per cent to £162.8m last year as the falling pound following the vote to leave the EU took its toll.

BAT, who agreed a $49.9bn deal to buy its unowned stake in Reynolds American – maker of Camel cigarettes – in January said it had upped its market share in its core markets with group revenues rising by 12.6 per cent at current exchange rates, helped along by the pound’s post-Brexit falls.

Andrew Day, chief executive of Hastings, said the company was on the lookout for other infrastructure opportunities in the UK and had not been put off by the country’s surprise decision to leave the EU.

Lloyd’s of London is leaning towards Luxembourg as its post-Brexit EU home.

The US carmaker predicted $300m in Brexit-related losses in its Europe business in 2017 after a similar amount in 2016.

A falling pound and a flood of rivals moving into its profitable markets dented Ryanair’s financial performance in the last three months of 2016, with the airline reporting on Monday that fares and profits fell slightly more than expected during the quarter.

SThree, the UK recruitment agency, warned of a slowdown in UK hiring because of uncertainty following the vote to leave the EU, which has shifted its business towards overseas markets.

British outsourcer Mitie announced its third profit warning in four months on Wednesday and replaced its chief financial officer, as new contracts stalled.

Premier Foods served up a profit warning and announced a cost cutting programme on Thursday as the food group battles sluggish sales and increased commodity prices as a result of sterling’s sharp fall since last June.

Snap, the company behind Snapchat, has established its international headquarters in Britain, where it will book all sales made outside the US.

Rolls-Royce Motor says it will keep its headquarters in the UK and continue investing in the country, with the luxury carmaker reporting a rise in annual sales spurred by a double-digit increase in its home market.

Persimmon, the UK’s second-largest housebuilder, reported an 8 per cent boost to revenues during 2016 as demand for newly built homes strengthened in the wake of the vote to leave the EU.

The DIY retailer has been helped by the sharp fall in the pound since the Brexit vote.

The FTSE 100 catering group warned it would increase prices on some UK contracts as a result of rising food costs following Britain’s vote to leave the EU.

The machinery rental business went into administration blaming the Brexit vote for poor trading - and its three divisions were sold for £29m to listed rival Ashtead.

The outsourcing company warned its full-year profit would fall short of expectations because of uncertain economic conditions following the Brexit vote, lower government spending and a rise in the UK minimum wage.

The privatised postal service said a drop in spending on junk mail triggered by uncertainty around the time of the Brexit vote contributed to lower half-year profits.

The listed London property developer said the value of its portfolio dropped 3.7 per cent in the six months to September, and it had sold assets, after the Brexit vote dented the commercial property market.

The world’s largest interdealer broker said half-year revenues rose 11 per cent to £254m on the back of volatility generated by the UK’s decision to leave the EU.

The UK’s second-largest listed property company said it had swung to a loss in the six months to the end of October as the vote to leave the EU cut into commercial property asset values.

The French bank extended the lease on its current headquarters in the City of London until 2025, indicating it has shelved plans to seek a new base after the Brexit vote.

The low-cost airline said revenue dipped partly as a result of higher holiday costs for UK travellers following the EU referendum.

The UK’s largest listed property company said it had swung to a loss in the six months to September 30 as the vote to leave the EU weighed on the commercial property market.

The UK food maker said it was less vulnerable to inflationary pressure from the post-Brexit fall in the pound than many of its bigger competitors.

The FTSE 100 housebuilder reported “resilient” trading after the Brexit vote, despite investor concerns in the aftermath of the referendum.

Lego said it had ended its promotional deal with the Daily Mail after parents voiced concerns that its brand could be damaged by links to newspapers that have taken a hostile stance on race, immigration and gender issues.

The building materials supplier warned that profits would be lower because of a slowing of activity around the time of the EU referendum.

The TV company blamed uncertainty over a "hard" or "soft" Brexit for a sharp drop in advertising revenues, which it warned could be 7 per cent lower in the final quarter of 2016.

The bikes and car parts retailer warned that the sharp decline in the pound since the Brexit referendum would raise its costs.

The German industrial group said its 2017 revenue could be constrained by issues stemming from the Brexit vote and the US elections.

The food and retail group that owns Primark, said it hopes to benefit from the UK’s departure from the EU and is working with the government to discuss new trade policies.

The Japanese technology investor that recently bought UK chip designer Arm Holdings said it remained committed to employment in Britain regardless of how the country’s exit from EU plays out.

The low-cost airline said that, because of the uncertainty surrounding Brexit, it planned to shift some planned growth next year away from the UK towards mainland Europe.

The US fund management group has emerged as a contender to acquire Italy-based Pioneer, as a way of coping with the impact of Brexit on its sizeable UK-based operations, which include Threadneedle.

The Australian company has won £10m of EU regional development funding for a £project to build the first commercial wave energy project connected to the electricity grid in England

The publisher said the New European, its “pop-up” newspaper aimed at people who voted to remain in the EU, was only supposed to print for four weeks - but now has a 20,000 weekly circulation which is enough for it to break even.

The luxury carmaker said that the weak pound following the Brexit vote had been a boon for the group, which exports around 80 per cent of its output and has limited exposure to the EU market

The US airline said it was cancelling its only regular flight from Northern Ireland, which led some politicians to claim that “unelected bureaucrats in Brussels” refused to approve a £9m subsidy to keep the route flying.

The UK's second-largest housebuilder reported a surge in trading in spite of investor worries about the effects of the Brexit vote.

The world’s largest business software company by revenue said UK sales were the fastest in Europe in the last quarter as British companies increased their investments in software after the referendum vote.

The ingredients maker said weak sterling after the Brexit vote helped to push pre-tax profits up in the first half.

The US exchanges operator said the risk associated with Brexit and "all of the unknowns" caused trading volumes to move away from Europe.

The Finnish stainless steel maker said its Sheffield mills were an “integral part” of the company and that the result of the EU referendum would not affect the company’s investment calculations.

The chief executive of Britain’s biggest technology company has warned that a 'hard Brexit' could seriously damage its business if it involves proposals to crack down on foreign workers.

The FTSE 250 technology company has reported cancelled and delayed contracts, one of which was due to the Brexit vote.

The investment supermarket said high dealing volumes following the EU referendum vote helped lift revenues by 15 per cent year-on-year, but a hit to investor confidence meant new business inflows fell 22 per cent.

The pub group's chairman hit out at “hectoring and bullying” of EU officials who are putting “an unfair burden” on its European suppliers.

Lastminute.com co-foudner Brent Hoberman said an Asian investor in his new firm will not do anything in the UK for six months after the Brexit vote.

The Japanese carmaker said it had “no plans for now” to withdraw from the UK market after the British government said it was seeking a deal to shield the car manufacturing industry from any Brexit fallout.

The advertising group said weak sterling after the UK voted to leave the EU helped push its revenues up 23 per cent - but a softening in like-for-like revenue growth in its home market was “perhaps reflecting the first impact of Brexit uncertainties”.

The UK’s fourth-biggest supermarket group said it was increasing the price of Marmite spread by 12.5 per cent, after maker Unilever asked for higher prices to reflect Brexit currency shifts.

The Swiss engineering group ABB said Britain’s vote to leave the EU led to a “massive” dampening in demand from UK customers, contributing to a 14 per cent fall in total orders in the three months to the end of September.

The Japanese carmaker said it will not easily give up UK production even if trading conditions change after Britain’s exit from the EU.

The Japanese carmaker said it will build two new car models at its Sunderland plant, in a decision that “follows the UK government’s commitment to ensure that the Sunderland plant remains competitive”.

The US carmaker said it expects the impact of the Brexit vote to cost it a further $600m in 2017, on top of $200m in 2016.

The US household appliance maker said consumer jitters after the UK’s Brexit vote and ahead of the US presidential election had softened third-quarter demand.

The US automaker said it expects extra $300m in losses from Britain’s decision to leave EU and will cut car production in Europe.

Microsoft has raised the prices of UK software to reflect the plunging pound following the vote to leave the EU.

The recruiter said permanent UK hiring had stabilised after Britain’s vote to leave the EU and there was been no evidence of “contagion into Europe”.

India's second largest IT services company said revenue growth would fall partly as a result of the UK's Brexit vote.

The UK's biggest supermarket chain pulled dozens of Unilever products from sale online - including Marmite and Ben & Jerry’s ice cream - in a row over who should bear the cost of the weakening pound.

The Russian bank has become the first big lender to say it will move its investment banking headquarters out of the UK because of the disruption expected by Brexit.

The UK drugmaker is drawing up contingency plans to secure its supply chains after Brexit, prompted by concerns over disruption as a result of any trade settlement between Britain and the EU.

The recruitment company reported a slide in third quarter UK profits on the back of “fragile” market conditions following the Brexit vote, led by a sharp downturn in financial services hiring.

The London-based estate agency posted a 4.7 per cent decline in profit, as the EU referendum result weighed on the UK property market.

The asset management arm of Prudential plans to build a new investment division in Luxembourg, in a bid to hold on to its mainland European investors after Britain’s vote to leave the EU.

Europe’s second-biggest low-cost airline said its full-year pre-tax profit would be £490m-£495 - a bigger year-on year fall than the 28 per cent forecast by analysts - citing exchange rate movements since the EU referendum and "major external shock events".

The Austrian industrial material group has dropped plans to incorporate in the UK had been dropped because of fears that UK and EU laws will diverge after Brexit.

The head of the French telecoms group criticised regulators for blocking its buyout of SFR when it should be trying to attract international business after the UK's Brexit vote.

The consultancy has calculated that around £10bn in tax revenues and 71,000 jobs hinge on the outcome of the UK’s exit negotiations with the EU.

The US bank's vice-chairman of sovereigns and official institutions suggested that joining the EU’s banking union could safeguard talent in the City of London - because the UK could allow free movement of labour in financial services.

The "big four" professional services group said the ability to bring workers with diverse skills into the UK is more important than access to the single market.

The Japanese carmaker said it was delaying new investments in its Sunderland plant until the UK has concluded Brexit negotiations with the EU.

The outsourcer warned that some of its potential clients had delayed their decision making in the wake of the UK’s vote to leave the EU.

The London-based insurer said was considering setting up a subsidiary in Europe, and was considering countries where it already has a presence, plus Malta and Luxembourg.

The 328-year-old insurance market said it would write EU business onshore in the EU if it loses single market access in the UK's Brexit settlement.

The UK’s largest carmaker by units warned that any new tariffs introduced after Britain leaves the EU will make its business uncompetitive and put jobs at risk.

The broker warned of the prospect of further market volatility as the UK begins its divorce process from the EU.

The chief executive of the German media group said that, in three to five years' time, Britain would be better off than continental Europe as a result of leaving the EU.

The airport's chief executive said that applying customs checks on goods passing between Britain and the EU would be burdensome - and an alternative to leaving the EU customs union needs to be found.

The world's largest advertising group said it will place greater emphasis on western continental Europe as a result of the referendum decision.

The advertising agency said it saw no impact from the UK's vote to leave the EU, “other than a positive foreign currency impact”.

The DIY retail group said the EU referendum created uncertainty for the economic outlook, but had not had an impact on demand so far.

The US biotechnology company said it will invest hundreds of millions of pounds to establish its European drug development and commercial headquarters in the UK – in Maidenhead, Berkshire, the constituency of prime minister Theresa May.

The DIY retailer said like-for-like sales grew 3.3 per cent in the six months to June, and that there was no evidence of an impact from the vote to leave the EU.

Shares in the outsourcer fell sharply when it issued a profit warning on the back of weak UK economic growth and “uncertainty both pre and post the EU referendum”.

The UK waste management business had expected the Brexit vote to delay its stock market listing until spring next year, but has now decided to press ahead with plans to raise £270m in October – the biggest initial public offering since the referendum.

The home furnishings retailer said its low-cost model has helped it grow its market share “in times of uncertainty” after the UK’s vote to leave the EU.

The housebuilding and construction group said sales rates in its housing business have picked up following a post-EU referendum dip.

Construction companies said UK infrastructure and housebuilding projects will be at risk if skilled builders from the EU are not allowed to remain in the country after Brexit.

The French private equity house has raised €4.5bn in four months for investing in midsized European companies mostly outside Britain, and said Brexit “was in our favour” as it helped attract investors wary of UK funds.

Clydesdale and Yorkshire Banking Group said it will cut more than £100m of costs, partly through branch closures, as it braces for tougher economic conditions after the Brexit vote.

The broker said scrapping some EU regulation after Brexit could enhance competitiveness.

The fund manager lifted the trading suspension on its £1.4bn property fund, easing fears of falling real estate values following the UK’s vote to leave the EU.

The brewer and pub operator said it is bracing for a “potentially tougher trading environment ahead” following Britain’s vote to leave the EU.

The UK's biggest housebuilder said its new reservations in the period since the EU referendum were higher than last year despite market worries over demand, as it reported a 21 per cent increase in pre-tax profit.

The chairman of the Lloyd’s of London insurance market warned it could move some of its operations to other parts of the EU if it loses access to the single market.

The UK fund manager focused on emerging markets reported a £21m gain on the back of currency movements after the Brexit vote.

The high-end housebuilder said reservations had been at least 20 per cent below 2015 levels during the year so far, thanks to tax changes and the EU referendum.

The head of the Japanese insurer said the UK's Brexit vote had not dulled his company’s appetite to invest in London as the city’s attractions stretched beyond the business it does with the EU.

The estate agent said growth in the UK’s house sales and lettings market was “tempered” in the first half of the year by the EU membership referendum.

The spread-betting company reported rising customer numbers and growing profits, helped along by the market volatility induced by the UK’s Brexit vote.

The British builder of retirement homes said the housing market had weakened since the EU referendum in June.

The recruitment company said net fees were flat and client confidence was hit following the EU referendum.

The retailer specialising in previously-owned watches experienced an increase in foreign business following the UK's Brexit vote, as buyers took advantage of the sharp drop in sterling.

The the medical and engineering equipment maker said currency effects will boost revenues by around 4 per cent, driven by the substantial decline in UK Sterling since the Brexit decision in June.

The plastics manufacturer warned that its dividend payment was in doubt because of a potential widening of its pension scheme deficit caused by Brexit-related volatility.

The US clothes retailer said its gross margin fell because of the weakening of sterling against the US dollar after the Brexit vote.

The UK’s largest owner of closed life insurance funds said Brexit would encourage foreign players to sell their UK life insurance books, because the post-referendum fall in sterling makes the businesses less lucrative.

The $13bn US hedge fund said it is increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries from companies leaving London after the Brexit vote.

Japan's Government Pension Investment Fund, the world's biggest pension fund, has partly blamed a $52bn quarterly investment loss on a spike in the yen on the Brexit vote.

UK’s second-largest housebuilder said private sales reservation rate since the start of July was 17 per cent higher than the same period last year

Swatch's branded stores, such as Omega, Breguet and Blancpain, enjoyed “fantastic results” in July with foreign tourists taking advantage of the weaker pound, chief executive Nick Hayek said.

Santander UK has warned margins are likely to decline further and it will have to continue keeping a tight rein on costs, as Britain’s vote to leave Europe in June “marked the end” of a period of relative stability for Britain’s banks.

The top-10 UK housebuilder Bovis Homes said its sales rates since the Brexit vote have been lower than last year but that interest from homebuyers remains “resilient”.

Recruitment company PageGroup reduced its headcount in the UK by 3 per cent in the first half of the year in response to tougher trading conditions in the run-up to the EU membership referendum, as companies put hiring and investment plans on ice.

Property developer Derwent London lowered its expectations for rental growth after Britain’s EU referendum, predicting a short-term hit to demand for office space.

Miami-based cruise operator chopped its earnings forecast for this year and abandoned its financial targets for 2017 blaming issues including the effect of a weaker British pound for a fall in bookings.

The estate agency group reported a 3 per cent drop in pre-tax profit for the first half as commercial property transactions declined in the EU referendum period.

The outsourcing company said it had benefited from the post-Brexit vote slump in sterling, as a large chunk of its revenues is earned in other currencies.

The exchange warned that Britain’s exit from the EU could “erode” investor confidence, and potentially disrupt financial services in the City of London.

The US bank warned that the UK’s vote to exit the EU could force it to “restructure” some of its UK activities.

The newspaper publisher said that its full-year revenues “could be lower than expectations”, following the vote to leave the EU.

The retailer warned that it would expand its operations on mainland Europe if "fulfilling sales from the UK becomes less efficient”.

The world’s largest maker of consumer goods said the decline in sterling against the dollar after the Brexit vote was reducing earnings translated into dollars and could make pricing less competitive against domestic rivals.

Britain’s biggest builders’ merchant blamed the UK’s vote to leave the EU for a drop in demand in the second quarter and “significant uncertainty”.

The interdealer broker said an increase in market volatility in the aftermath of Brexit vote resulted in higher levels of activity for its business.

The UK defence and engineering group said Britain’s decision to leave the EU could lead to the Government delaying its commitment to major projects.

The newspaper publisher said that its full-year revenues “could be lower than expectations”, following the vote to leave the EU.

The estate agency reported a 42 per cent year-on-year slump in first-half profits, as uncertainty over the Brexit referendum hit an already faltering property market in the capital.

The owner of British Airways and Iberia reported sharp falls in unit revenues and warned of continued uncertainties after of the Brexit referendum.

The pay-TV company said it would continue to grow, even if Britain dipped into recession after the vote to leave the EU.

The telecoms group said that if the UK were to go into recession after the Brexit vote, its consumer business would be “pretty resilient”, as cash-strapped customers were unlikely to see BT services as discretionary costs.

Shares in the French outdoor advertising group fell 7.5 per cent after it said that it was likely to cut back its UK investment plans amid Brexit-fuelled economic uncertainty.

Britain’s biggest pizza delivery company reported a 21 per cent increase in underlying operating profits for the first half.

The takeaway food website said it had upgraded full-year forecasts for the second time in three months and dismissed concerns about economic uncertainty in the UK.

The theme park and attractions operator said that it would benefit from weaker sterling after the Brexit vote, given its dollar and euro earnings.

The bus and rail operator said annual pre-tax profits were up 9.7 per cent, buoyed by its extensive operations outside the UK.

The estate agency group warned that full-year profits will be lower than last year after the UK’s vote on EU membership hit the markets for homes and commercial property.

The fund manager said outflows from its funds accelerated considerably in the immediate aftermath of the EU referendum, particularly from the Henderson UK Property Fund and funds focused on European assets.

The fund manager said it had suffered the heaviest outflows from its funds since the height of the financial crisis, blaming withdrawals in the last quarter on the difficult market environment following the UK’s vote to leave the EU.

The UK high street bank it is to axe 3,000 jobs in a £1.4bn cost-cutting drive and damped the outlook for dividends following the vote to leave the EU.

The engine maker said the collapse in sterling after Britain’s Brexit vote left it nursing a £2.15bn loss on an unadjusted basis, as a result of the accounting requirement to value currency hedges at the end of the reporting period.

The FTSE 100 housebuilder said trading since the EU referendum had been “in line with normal seasonal patterns” despite signs the prospect of Brexit is weighing on the broader UK housing market.

The British engineering company that reduces noise in Bentleys and Range Rovers will become one of the first businesses to float in London since the vote to leave the EU.

The UK online property portal is braced for a period of “economic uncertainty” following Britain’s vote to leave Europe as transactions between April and June fell year-on-year

The UK regional airline said short-term uncertainty in the wake of the vote, combined with terror incidents in Europe, “could have a materially adverse impact.”

The UK outsourcer said post-Brexit referendum uncertainty has resulted in “some delays in decision making” from potential customers.

The fund manager said investment portfolios had been “held back” by uncertainty before the UK’s vote to leave the EU, and warned there could be legal restructuring of operations on the continent if a trade deal was not finalised.

Britain’s biggest commercial broadcaster, will aim to cut £25m of costs next year “whilst the economic outlook remains uncertain” after the vote to leave the EU.

The UK's largest drug company said it will invest an extra £275m at three British manufacturing sites, in a vote of confidence in the country following the Brexit referendum vote.

Shareholders in the German exchanges group have backed its planned merger with the London Stock Exchange Group, despite the UK vote to leave the EU.

The maker of Budweiser and Stella Artois beers decided to boost its takeover offer for SABMiller, in order to stem growing pressure from some SABMiller shareholders to revise the terms following the steep drop in the value of sterling after the UK Brexit vote.

The UK challenger bank has deferred plans to launch into the small business and unsecured lending markets because of the economic uncertainty caused by Britain’s decision to leave the EU

The Japanese electronics group became the first Japanese manufacturer to blame the post-Brexit surge in the yen for a profit warning - its second in three months.

The UK-listed specialty chemicals maker said the weak pound helped boost sales and profits and gave a bullish outlook despite the uncertainty caused by Brexit.

The fund management group suffered its 13th straight quarter of outflows after investors pulled £1.5bn from its property funds over fears about the UK’s decision to leave the EU.

The UK insurer said the The post-Brexit collapse in the value of sterling has boosted its business and sent first-half profits soaring.

The FTSE 100 shopping centres group said it had signed 20 leases across its shopping centres and retail parks since the June 23 vote.

The airline said it will focus more on growing at airports in the EU and less on the UK following the latter’s decision to leave the EU in a referendum last month.

The French water and waste management group is expecting to create about 600 jobs in the UK over the next five years as part of a £750m investment, in a welcome sign of business confidence in the country following the vote to leave the EU.

The Swiss agribusiness said the UK’s planned exit from the EU would allow it to break with “politicised” European regulation in agriculture and take swifter advantage of scientific breakthroughs.

The insurer said it will use Ireland as a base to increase European business as it prepares to operate across the region following Britain’s decision to leave the EU.

The UK estate agency chain warned that its full-year profits would be lower than expected because of the impact of the Brexit vote on the housing market.

The UK’s largest listed property company, has warned of “subdued” demand from business tenants in the wake of the Brexit vote.

The owner of the Daily Mail, Mail on Sunday and Mail Online said advertising across its media division increased 1 per cent in the three weeks after the EU referendum. A 19 per cent rise in digital advertising revenues offset an 8 per cent fall in newspaper advertising.

The Swiss group said sales at Omega stores had increased by between 25 per cent and 132 per cent, year on year, as foreign tourists taking advantage of a weaker pound after the Brexit vote.

Eastern Europe-focused budget carrier said it is cutting growth projections for UK routes in the second half “as a direct result of Brexit” and will reallocate two additional aircraft marked for the UK to continental Europe.

Softbank announces it will acquire chip designer Arm Holdings for £24.3bn

The £6.5bn listed property company, has said it is preparing for a period of caution among investors and tenants after the UK’s vote to leave the EU.

The recruitment company said a decline in UK hiring in the run-up to the EU referendum was not enough to stop it beating full-year profit expectations.

Britain's biggest pub chain said trade strengthened in recent weeks despite “dire warnings” about the risk of a Brexit vote, and it now forecasts a “modestly improved outcome” for this financial year.

AMC, the US cinema chain controlled by Wang Jianlin, China’s wealthiest man, has taken advantage of the sharp drop in sterling after the EU referendum to buy the UK’s Odeon cinema chain for £921m.

The FTSE 250 recruitment company said gross profit in the UK fell 2.3 per cent and the outlook was unclear, having being “impacted by pre-Referendum uncertainty.”

The real estate investment trust said that, after the EU referendum result, it completed two “encouraging” leases totalling £0.6 million – a 10 per cent increase on estimated rental value.

The German engineering group backed away from earlier warnings that Brexit could adversely make the UK a worse place to do business in and affect the group’s future British investment plans.

The recruitment group said a 7 per cent drop in half-year pre-tax profit, to £12.8m, was partly due to uncertainty created by the EU referendum.

The founder of the British currency exchange app said uncertainty after last month’s Brexit vote is an “opportunity” for the company, which has secured up to £7.75m in further funding.

The property developer said it had let the last three floors of its Leadenhall Building, with two of the three transactions completing since the EU Referendum.

The US aircraft maker said the UK would continue to be an important base despite the referendum vote to the leave the EU.

The engineering IT provider said the weakening of sterling against the euro and US dollar after the EU referendum should mean its overseas earnings enjoy a currency benefit in FY17 .

The publisher said daily circulation of the i newspaper, which it acquired in April, had risen from 270,000 to 300,000, "boosted by the increased appetite for news following the EU referendum".

The cider maker warned that it would suffer from the fall in the pound after the Brexit vote as it has "almost 50 per cent of profits denominated in sterling and reported in euros".

The high street sportswear retailer said the fall in sterling will have a “significant” impact on its margins in the next year and beyond, and predicted a “continuing drag on consumer confidence” after the EU referendum result.

The consumer goods group, which owns clothing chain Primark, said the weakening in sterling following the EU referendum would mean “a bigger [currency] translation benefit in the final quarter".

The crockery maker said pre-tax profits are expected to be "materially below" last year's level, and recorded "negative effects on demand in the UK before and following the leave vote at the EU referendum".

The waste management company announced a €510m cash and shares merger with the Dutch van Gansewinkel Groep and said the weakening of sterling against the euro after the EU Referendum "would be net positive".

The rural broadband internet provider said Business Growth Fund plc had granted it a financing deal - the funding body's fourth significant investment since the EU referendum vote.

With 90% of its revenues outside of the UK, the weaker sterling since the referendum would boost 2016 profits by £25m to £30m

The FTSE 250-listed asset manager suspended redemptions from its £3.9bn property fund due to "exceptional liquidity pressures"

The financial spread betting provider said "the immediate impact of the UK's vote to leave the EU has been materially positive for the Company in terms of both revenues and profitability".

The asset manager has suspended redemptions from its £1.4bn Threadneedle UK Property fund

The UK’s largest commercial property fund, M&G’s £4.4bn Property Portfolio, said it had stopped letting investors take their cash out to avoid forced asset sales and "protect the interests of the fund's shareholders".

The insurer became the second manager of a UK property fund to stop investors taking their money out, in an attempt to gain "greater control in managing cash flows and conducting orderly asset sales", amid "extraordinary market circumstances".

The London-focused housing association said its credit outlook had been downgraded from stable to negative by Moody’s, the rating agency, in line with with the downgrade of the UK after the vote to leave the EU.

The UK's largest online retailer of musical instruments said European like-for-like sales rose 191 per cent in the week after the EU referendum, thanks to "favourable exchange rates and responsive pricing".

The French energy group said the UK vote for Brexit was no barrier to its $18bn plans to build a nuclear reactor at Hinkley Point in southern England.

The investment group has stopped people taking money out of its UK property fund, to avoid being forced to sell buildings quickly to meet higher redemption requests following the EU referendum result.

The chairman of the Spanish bank has said a sharp fall in share prices after Britain's vote to leave the EU severely hampers any potential merger activity in the sector.

The investment crowdfunding platform announced plans to raise another £5m - a move that it said "defies Brexit"

The winemaker behind the McGuigan brand said its full-year profit would be adversely affected by an "unforeseen unrealised foreign exchange loss of approximately A$1m (£570m)".

The solid fuel supplier said that if the current exchange rate continues, it should benefit from holding stocks of dollar denominated coal. But, "on a negative note", a £7m earthworks project at a major UK port has been postponed "owing to Brexit-related concerns".

The head of Mitsubishi UFJ Financial Group said he wants to add talent to its London derivatives and capital markets teams, and the City will remain “an important hub” in spite of the UK's vote to leave the EU.

The consortium of 27 banks and hedge funds that control the toll road have delayed sending sale documents to bidders, because they contain forecasts and estimates based on the UK remaining in the EU.

The budget airline confirmed it had begun a formal process to acquire an air operating certificate in a continental European country that could allow it to set up headquarters there and continue flying throughout the EU without restrictions. But no final decision has been taken, and any move would involve setting up a legal base rather than transferring core functions overseas.

Alumasc, the engineering group, said it had completed the sale of Dyson Diecastings to Broadways Stampings for a net cash consideration of £4m.

The oil and gas explorer said the weakness in sterling since the Eu referendum, if sustained, may "have a positive impact" on the level of any proposed distribution to shareholders.

The provider of alternative finance to small businesses said had was cancelling a bond offering to UK investors "following the uncertainty and market volatility resulting from Brexit".

Southeast Asia’s third-largest bank by assets suspended loan applications for London properties. Other Singapore banks are advising clients to be cautious over political and foreign exchange risks in the wake of Brexit.

The co-head of Goldman Sachs’ international operations, headquartered in London, told a business summit: “If passporting was totally removed, we would have to adjust our footprint and where people were located.”

The UK housing association said its credit outlook had been downgraded from stable to negative by Moody’s, the rating agency, following an assessment of the potential impact of the vote to leave the EU.

The Japanese motor company said market volatility after the Brexit vote would likely have a "major"; impact on earnings.

Fallout from the EU referendum means that revenue in the second half of easyJet's financial year is expected to fall by at least a "mid single-digit percentage", it said on June 27.

"Recent sales volumes have been slow … the result of the referendum has increased uncertainty and is likely to mean that these trends continue for at least the remainder of the year," Foxtons said on June 27.

Around 1,000 jobs in HSBC's investment bank division might be moved to Paris, chief executive Stuart Gulliver said in February.

As many as 4,000 JPMorgan jobs – out of 16,000 in the UK – might be cut, chief executive Jamie Dimon told staff on June 3.

Morgan Stanley warned before the referendum that 1,000 of its London jobs could move in the event of a Leave vote.

The Japanese motor company said market volatility after the Brexit vote would likely have a "major" impact on earnings.

South African conglomerate Steinhoff is reviewing its proposed takeover of Poundland following resistance from Poundland's board and the UK's vote to leave the EU.