Who could blame us for worrying over our economic fate after the Brexit vote? We were afraid that the economy was heading for certain death and we wouldn't be able to rescue it. Here we are, over a month after the vote and it looks like there may be some light at the end of the tunnel after all.
GSK invests £275m to expand three UK manufacturing sites
The investment, which was announced today, is set to boost production and support the delivery of its respiratory and large molecule biological medicines. This reaffirms the company’s confidence in the UK market, as it already employs 6,000 people at nine of its manufacturing sites in the UK.
VCs have invested $200m in UK tech
Tech startups have seen 42 deals in the past month, the highest investment standing at $65m (£50m) for Darktrace, a UK cyber security firm. According to London mayor Sadiq Khan: “This is further proof that London leads the way when it comes to technology and, because of its diversity and entrepreneurial spirit, continues to attract investment from across the globe.”
FTSE 100 at 11-month high
56 per cent of investors say they are happy with the result of the Brexit vote as the FTSE 100 is at its highest level since the summer of 2015. And in light of the US results expected today, the FTSE 100 is predicted to open up 15 points at 6,739.
The Bank of England maintains interest rates
Despite speculations of the Brexit result having a dramatic impact on UK interest rates, the monetary policy committee (MPC) voted 8-1 in favour of maintaining rates at 0.5 per cent for the 88th month in a row.