You LOST OK, now just shut up about it…..

Pound and FTSE 100 lose ground.

UK shares have dipped further and the pound has lost ground as investors continue to digest the Bank of England's latest pronouncement. On Thursday, the Bank stunned the markets by keeping interest rates on hold, following speculation that it would cut rates from 0.5% to 0.25%. By mid-afternoon on Friday, the FTSE 100 was down 10.04 points at 6,644.43. The pound was down 0.47% against the dollar at $1.3281. Against the euro, it was down 0.17% at €1.1983. Among individual shares, airlines bore the brunt in the wake of Thursday night's Bastille Day attack in the French resort of Nice. Easyjet and British Airways owner IAG were down 3.2% and 1.3% respectively. At the same time, High Street mainstays Morrisons and Marks and Spencer fell 2% and 2.5% respectively. Other European share indexes were also down, reflecting market gloom at the French terror attack. The Cac index in Paris was down by about 0.6%, while Frankfurt's Dax dropped about 0.2%.

Bank of England economist says sledgehammer needed for economy.

The Bank of England's chief economist supports a "sledgehammer" approach to stabilising the post-Brexit economy as he admitted unemployment could rise. In a speech, Andy Haldane supported easing monetary policy next month. He said it needed to be "delivered promptly as well as muscularly", adding: "By promptly, I mean next month." On Thursday, the Bank kept the interest rate on hold at a record low of 0.5%, where it has been since March 2009. But minutes from the meeting of the Monetary Policy Committee, which includes Mr Haldane, said: "Most members of the committee expect monetary policy to be loosened in August. The precise size and nature of any stimulatory measures will be determined during the August forecast and Inflation Report round.” Speaking at a gathering in Port Talbot on June 30, before the speech was released on Friday, Mr Haldane said there is evidence that companies are reducing both hiring and investment. He said: "There is no sense of slash and burn. But there is a strong sense of trim and singe." He also admitted that there is a risk that "perhaps" unemployment could rise.

David Davis: Trigger Brexit by start of 2017.

The new minister in charge of Brexit says the UK should be able to formally trigger its departure from the EU "before or by the start of next year". David Davis called for a "brisk but measured" approach, with a likely exit from the EU around December 2018. He said the "first order of business" should be to strike trade deals with non EU countries. Meanwhile his predecessor, Oliver Letwin, warned the UK had no trade negotiators to lead its exit talks. Mr Davis, a longstanding campaigner for Brexit, was appointed as secretary of state for leaving the EU by new Prime Minister Theresa May. Mrs May has previously said she will not trigger Article 50 of the Lisbon Treaty, which starts a two-year process of leaving, before the end of 2016.

UK offered Brexit free trade deal with Australia.

Australia has called for a free trade deal with Britain following its exit from the European Union. Theresa May described the move as "very encouraging" and insisted it showed Brexit can work for Britain. In a phone call to the new PM, her Australian counterpart Malcolm Turnbull said he urgently wanted to open up trading between the two countries. Liam Fox, the new international trade secretary, said he was already "scoping about a dozen free trade deals". But Britain cannot sign any deals while it is still an EU member. Mrs May said: "I have been very clear that this government will make a success of our exit from the European Union. One of the ways we will do this is by embracing the opportunities to strike free trade deals with our partners across the globe. It is very encouraging that one of our closest international partners is already seeking to establish just such a deal. This shows that we can make Brexit work for Britain," she added.

Nicola Sturgeon: Scotland 'could stay in UK and EU'.

Scotland could stay in the UK and the EU, while the rest of the UK leaves the bloc, Nicola Sturgeon has said. Speaking on the BBC's Andrew Marr show, the first minister said there was effectively a "blank sheet of paper", creating an opportunity to explore previously "unthinkable" options. The UK minister responsible for Brexit said he did not think this would work. But the prime minister said she would listen to any options brought forward by the Scottish government. Ms Sturgeon also said she thought Scotland was in a "very strong" position in the UK's Brexit talks after Theresa May said she would not begin the formal process of leaving the EU until there was a "UK approach and objectives".

Eurotunnel cuts profit forecast due to weak pound.

The fall in the pound after the UK referendum on EU membership has forced Eurotunnel to lower its 2016 profit forecast by 4.5% to €535m ($700m). It also cut its profit forecast for 2017 by 4.3%. Eurotunnel assumes the pound will be 7% lower versus the euro, reducing its profits when converted back into euros. Two thirds of its income is from vehicle shuttle services, and UK customers make up 80% of its car passengers. Shares in Eurotunnel, which runs train services between Britain and France, fell 30% after the EU referendum vote and are still 16% below pre-Brexit levels. The firm said the impact of Brexit on the level of cross-Channel transport was uncertain, but that it did not expect any significant impact on its activities in the short term. Chief Executive Jacques Gounon said: "Despite the financial market uncertainty generated by the United Kingdom voting to leave the European Union, the Group remains confident in the performance of its economic model and in its outlook." However, other factors have had an impact on its business. Eurostar's passenger traffic fell 3% in the first half of 2016 due to attacks in Brussels in March and rail strikes in Belgium and France. Meanwhile truck shuttle traffic was up 10% in the same period. Overall profits in the first half of the year rose 4% to €249m, with revenues up 2% at €582m.

EU nationals with permanent residence 'can stay in UK'.

EU nationals with a right to permanent residence can stay in the UK after it leaves the EU and enjoy the same rights, a top civil servant has said. Mark Sedwill said the rights of those granted residence after five years were "quite clear" in law and it amounted to a guarantee of their future status. But he told MPs the rights of other EU nationals were subject to negotiations on Brexit and the "will of Parliament". Ministers have been urged not to use EU citizens as "bargaining chips". The UK says it will seek curbs on free movement rules - which currently give EU nationals the right to live and work in other member states - as part of its EU exit deal but it is unclear how this will work and what implications it will have for EU nationals already in the UK. The government has declined to give a firm guarantee about the status of EU nationals currently living in the UK, saying this is not possible without a reciprocal pledge from other EU members about the millions of British nationals living on the continent.

[It’s pretty quiet now at work. Brexit hardly gets a mention – even from me. Last week I mentioned to my boss that inflation had gone up by ½ a percent and my ex-boss jumped down my throat complete with hand waving and shouts of scaremongering….. I think I can guess who’s actually scared by what’s happening to our economy, and it’s not me because I can see it and have a pretty good idea of what’s coming next. Plus I have nothing to regret from my vote cast last month.]

All details above from BBC News website.