Rumour has it, some remainers are a little glum.....

[Carolinesbeanies]

So in the spirit of sharing our deluded brexiteer cheerfulness, heres a round up of some of this weeks good news.

http://www.thisismoney.co.uk/money/markets/article-5040279/UK-exports-booming-outside-Europe.html

http://www.londonlovesbusiness.com/business-news/london-news/big-boost-world-bank-ranks-uk-seventh-in-its-doing-business-report/18554.article

https://global.handelsblatt.com/politics/world-trade-makes-a-comeback-845798/amp

https://uk.reuters.com/article/uk-britain-eu-volkswagen/vw-explores-uk-banking-licence-ahead-of-brexit-idUKKBN1D22KR

The government have 'found' £60billion to put is a slush fund for brexit.

https://amp.ft.com/content/f3271ac7-7439-319f-ba90-9252f59aafee

And in the week that saw the interest rate rise, the Bank of England said gloomily "as migration tightens, we will see wage growth". Note the 'we will'.

Excellent. All this whilst the media obsess over impotent politicians as Britain works.

According to this, MSD are currently just using their former Hoddeston as their headquarters, leasing the site for their main office buildings. Pharmaron acquired the site from them.

The sale of the site to Pharmon follows the closure of MSD's research facilities in June this year after a global company review of MSD's research strategy aimed at strengthening it's business

This was Sept 2016.

www.outsourcing-pharma.com/Article/2016/09/27/CRO-Pharmaron-and-MSD-reach-shared-site-agreement

No, it's quite clear that the 800 staff are based at Hoddesdon:

It is also envisaged that the new site will accommodate approximately 800 additional staff for the UK domestic market and other European clinical functions currently based in MSD in the UK’s Hoddesdon headquarters

Quite coincidentally of course, the Hoddesdon R&D site has been sold to Chinese company Pharmaron, as announced a year ago:

www.pharmaron.co.uk/ckfinder/userfiles/files/Pharmaron_Press%20Release_26_09_16.pdf

Under the deal, MSD will remain on site on and lease-back the main office buildings.

MSD believes that locating a research facility in London will expand MSD’s opportunity to engage with leading researchers in the UK and Europe.

www.outsourcing-pharma.com/Article/2016/09/27/CRO-Pharmaron-and-MSD-reach-shared-site-agreement

MSD had already closed its Hoddesdon R&D facility in June 2016 following a global strategy review. MSD has also closed plants in Ireland, so I doubt the EMA moving to Dublin would have made any difference to its strategy.

Pharmaron completed the Hoddesdon R&D facility deal in February this year.

So not quite such a straightforward story as it first appears, as MSD were already planning to move. Just convenient timing for the Government.

Ah I see Cailleach1 has also spotted that!

I wonder if Greg Clark & co. did a secret enticement like with Nissan. Maybe it is all laid on for MSD to just stay at no real cost to them. How much will that cost the magic tree exchequer? Can they do it for all Pharma?

It said they employ around 1,400. So 400 at manufacturing site in Cramlington, up to 800 and 195 at new site. Even Steven in the future, best scenario. Then they say 'we are committed'. Hmm.

It is bad when you don't trust the BBC site any more.

I'm not massively convinced about the Qiagen announcement either - its an expansion of the existing science campus in conjunction with Health Innovations Manchester and a number of other science-based companies.

Health Innovation Manchester - according to its website it "showcase[s] the breadth and quality of potential partnership opportunities that exist following the city region’s £6bn pa health and social care devolution."

Sounds more like a large amount of public money being touted as up for grabs?

And straight off you can see the only spending we can see is the British exchequer. To entice R&D to stay. It is only worthwhile if they stick around after funding dried up and sink a larger amount of funds themselves.

"Sector deals - Partnerships between government, academia and business. Deals have been agreed in life sciences, artificial intelligence, automotive, construction sectors. More are expected in other sectors next year.

Industrial Strategy Challenge Fund - Another £725m on top of the £1bn announced in April. The first tranche was to support innovation in robotics and battery technology. The new money is for the construction and life sciences sectors

Research and Development (R&D) tax credit - As announced in the Budget, R&D tax credit will rise to 12%. The UK spends 1.7% of its economic output on R&D. The government has promised to raise that to 2.4%, in line with the average in other developed economies.

That is state spending, even the tax credits. No analysis whatsoever in that BBC article. Gov't says so and therefore they the facts.

Good to see Owen at the Huffpost can add up.

www.huffingtonpost.co.uk/entry/jobs-uk-industrial-strategy_uk_5a1af09de4b0649480750ee0

Except Owen at HuffPost hasn’t read the MSD press release properly either.

Even The Sun managed to get the MSD numbers right (although not the fact that it’s not a new European HQ - the press release states a new UK HQ):

American giant Merck (known as MSD in the UK) is to open a new European HQ in Britain, bringing 150 research roles and relocating 800 existing staffers

www.thesun.co.uk/news/5006651/us-drugs-giant-merck-to-create-150-jobs-with-new-uk-hq-in-fresh-brexit-boost/

CityAm also seems to interpret it as 150+800. Agree there is a sloppy lack of commas in the press release, but that's US scientists for you.

www.cityam.com/276474/pharmaceutical-giant-merck-picks-london-new-hq

I don’t read it as ambiguous at all - “create 150 new research roles” and “accommodate approximately 800 additional staff for the UK domestic market and other European clinical functions currently based in MSD in the UK’s Hoddesdon headquarters.”

It’s the difference between “recruit” and “accommodate”.

But there again The Sun can't decide how to spell Quiagen / Qiagen or whether it is German or Dutch. Also agree with earlier assertion that 800 jobs here are future projection rather than definite.

All BBC news bulletins today still saying almost 2,000.

It’s quite hard to type Qiagen - autocorrect keeps adding in that U.

Sky News reporting that it’s only 150 new jobs.

Sky also reporting that both Multiyork and Feather & Black have called in the administrators.

Wasdell, a UK pharma packaging firm establishing a base in Ireland/EU. Greenfield site, 70,000 sq. ft.

"We have always had a strong customer base in Ireland and we are certain that this trend will continue with the impending Brexit situation as companies typically from the UK and USA look to securing a base to service their European markets,"

So, they explicitly say it is to secure European markets. EU.

www.rte.ie/news/ireland/2017/1127/923089-jobs-dundalk-wasdell/

And re the confusion over whether Qiagen is Dutch or German - the holding company is Dutch so the corporate HQ is in the Netherlands, the operational HQ is in Germany.

And re the confusion over whether Qiagen is Dutch or German - the holding company is Dutch so the corporate HQ is in the Netherlands, the operational HQ is in Germany.

Obviously double Dutch ...

Twitter still divided on 150 vs 950. Very entertaining debate on how long it takes to get from Cambridge to Oxford in terms of the triangle - 10 hours sounds about right to me. Good job PH budget last week threw some money at Cambridge / Milton Keynes / Oxford transport corridor.

Do you mean Cambridge to Oxford via London or via Manchester?

There has been talk for years about re-opening the Oxford - Cambridge railway line. I am not holding my breathe yet. Normally about 3 hours to go to Cambridge from Oxford - either via London M25 or cross country on slowish A roads.

I know Peregrina. Same problem if you try to get from Brighton to Canterbury. According to Southern DH the original plan was to have an outer ring beyond the M25. Probably could solve most of the M25 congestion if the rest of the South East didn't have to drive in to it in order to go cross country so much.

The Bank of England pointed out that it is the first time since it began stress-testing banks in 2014 that all UK lenders have passed.

BBC business editor Simon Jack says that the tests this year were harder than ever.
Bit of cheery news. Banks all fighting fit whatever Brexit brings. Simon Jack has a way with words.

He says: "The tests imagine a series of adverse economic scenarios to see whether the banks could continue to lend money to support the UK economy.

"The Armageddon the bank imagines includes a 33% fall in house prices, a rise in interest rates from 0.5% to 4% within two years and a rise in the unemployment rate to 9.5% from its current 4.3%."

I.e. the banks have all prepared for the chaos of Brexit, even if the government hasn't. And that's painted as good news?

And I think they're being quite optimistic with the interest rates and unemployment rates in the event of a no deal crash out scenario.

The banks won't be lending money to "support the UK economy" - as with the last crash, they'll be looking after themselves and their rich clients, and bugger the rest of us.

Every time I see the patronising title of this thread it winds me up.

Any supposed ‘good news’ is despite Brexit not because if it.

Until someone comes up with an answer on NI that doesn’t revolve around us carrying on as before, it’s all just continued rhetoric and bravado bollocks.

I think that was the intention, Bear. Chortle, chortle. It’s all jolly japes if you aren’t likely to be affected.