Another week in the referendum campaign but there has been precious little new information, particularly for business owners to reach any sort of informed decision based on new information. The British Chamber of Commerce, who have taken a neutral stance, first suspended and then accepted the resignation of their Director General who expressed a personal preference for out.
EU poll tracker
The polls have narrowed further in the last week, with the average of the last six polls showing remain on 51% leave on 49%,
Betting often shows a distinct result and reflects where people are putting their money as opposed to what they tell a pollster. Current odds moved towards remain but by the end of the week were back to an average 3/1 on for remain and around 2/1 against for leave. The bookies are still suggesting that the balance of betting strongly favour remaining.
Energy company nPower is shedding 2,500 jobs in the UK, a significant proportion of the current workforce. A combination of increased competition, falling customer numbers, the highest service complaint rate and falling market fuel prices all combine to make this inevitable. Falling input costs would normally be seen as a good thing, but the likelihood is that the business locked into long-term futures contracts to manage the challenge of rising prices that leaves them having to buy wholesale energy significantly above the price their competitors are currently paying.
Apple and the FBI.
We wrote about the Apple case a few weeks ago, but it’s back in the news. Prince Zeid Ra’ad Al Hussein, high commissioner for human rights at the United Nations, has said that Apple would open a “Pandora’s box”. We agree.