Corporates Against Brexit

Some of the biggest names in global business and finance have thrown their weight behind the campaign to keep Britain in the European Union.

Ford (F), GE (GE), IBM (IBM, Tech30) and Goldman Sachs (GS), as well as U.K. engineering icon Rolls Royce (RYCEY) and fashion label Burberry (BBRYF) signed an open letter declaring that Brexit would be bad for Britain.

“Business needs unrestricted access to the European market of 500 million people in order to continue to grow, invest and create jobs,” the companies said in the letter to The Times newspaper.

Other big names to declare that Britain is better off inside the bloc include HSBC (HSBC), BP (BP) and Siemens (SIEGY).

The letter was signed by more than a third of all companies listed on the FTSE 100, London’s main stock market index, and dozens of other smaller firms. Together, they employ more than one million people across the U.K.

“We believe that leaving the EU would deter investment and threaten jobs. It would put the economy at risk,” they said.

via CNN

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza