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CRIMSON TAZVINZWA, AIWA! NO!|With just two months to go before Brexit, 1,500 finance jobs have been shifted or created overseas. Big financial firms surveyed by Reuters in January said that figure would likely rise to nearly 2,000 by the end of March 2019.
London (CNN Business) Brexit hasn’t happened yet but it’s already shrinking the United Kingdom’s financial services industry.
Banks and other financial companies have shifted at least £800 billion ($1 trillion) worth of assets out of the country and into the European Union because of Brexit, EY said in a report published Monday. Many banks have set up new offices elsewhere in the European Union to safeguard their regional operations after Brexit, which means they also have to move substantial assets there to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation.
The consultancy said the figure represented roughly 10% of the total assets of the UK banking sector and was a “conservative estimate” because some banks have not yet revealed their contingency plans.”Our numbers only reflect the moves that have been announced publicly,” said Omar Ali, head of financial services at EY.
“We know that behind the scenes firms are continuing to plan for a ‘no deal’ scenario.”EY has tracked 222 of the biggest UK financial services companies since the Brexit referendum in June 2016.
Heathrow Airport is used by over 90 airlines flying to 170 destinations worldwide. The airport is the primary hub of British Airways, and is a base for Virgin Atlantic. With 190,000 passengers arriving and departing every day, Heathrow handles more international passengers than any other airport in the world.
Of Heathrow’s 69 million passengers in 2011, 7% were bound for UK destinations, 41% were short-haul international travellers and 52% were long-haul. The busiest single destination in passenger numbers is New York, with over 3.8 million passengers between Heathrow and JFK / Newark airports in 2011. The airport has five passenger terminals (numbered 1 to 5) and a cargo terminal.
Full body scanners are now used at the airport, and passengers who object to their use after being selected are not allowed to fly. These display passengers’ bodies as a cartoon-style figure, with indicators showing where concealed items may be. The new imagery was introduced initially as a trial in September 2011 following complaints over privacy.
Hand luggage restrictions at Heathrow airport: Hand luggage at Heathrow airport Only one piece of hand luggage with most airlines Maximum size for most airlines: 56cm x 45cm x 25cm You can take a handbag as well as your hand luggage Liquids are permitted in containers of up to 100ml They must fit into one transparent resealable bag no bigger than 20cm x 20cm Anything bought after security is allowed on the plane
One of the latest security rules include turning on electronic devices to see if they work normally. If you are flying to the US please make sure any of your electronic devices are charged before you travel. If your device does not switch on you may not be allowed to bring it onto the aircraft. For more information visit https://www.gov.uk/hand-luggage-restrictions
Heathrow’s Terminal 2 closed for renovations in late 2009 after nearly 60 years of operation. The new and improved Terminal 2 is due to reopen in 2014.
Heathrow Airport Arrivals can be found on the ground floor of Terminals 1, 3, 4 and 5. After you leave the aircraft, you’ll pass through passport control, baggage reclaim and Customs. In the arrivals hall, you’ll find shops, restaurants, currency exchange, car rental and hotel reservation desks.
Heathrow Airport departures can be found on the first floor of Terminals 1 and 2, the ground floor of Terminal 3 and the top floor of Terminal 5. All passengers must clear security control before entering the departure lounge, where you’ll find shops, bars and cafes.
The Heathrow Express is the fastest way to travel into Central London. Trains leave every 15 minutes and the journey takes about 20 minutes. Trains to London leave Heathrow Airport from approximately 5am until 11.45pm. Standard adult fares are £21 for a single ticket purchased online or at a ticket office/machine (or £26 when purchased onboard).
Heathrow Connect services run from London Paddington, calling at Ealing Broadway, West Ealing, Hanwell, Southall, Hayes & Harlington and Heathrow Central (Terminals 1 and 3). For Terminals 4 and 5, there’s a free Heathrow Express transfer service from Heathrow Central. Heathrow Connect journey time is about 25 minutes from Paddington to Heathrow Central and adult single tickets cost £9.50.
There are usually taxis queuing for customers at London’s airports. Only use a black cab or reputable minicab and never use unauthorised drivers. Ask the driver or minicab company how much your journey will cost beforehand. A metered trip in a black cab to/from Central London generally costs from £50 to £80 and takes 30 minutes to one hour. All Heathrow Terminals have an approved taxi desk and authorised taxi rank.