Nothing going wrong because nothing’s happened yet….

Investors 'sought safety after Brexit'.

Personal investors took a safety-first approach with their portfolios after the UK's vote to leave the EU, new figures show. Investors withdrew £1bn from investment funds in July, with some moving their money into fixed-income products, the Investment Association said. This withdrawal was not as dramatic as the amounts taken out in June, when the vote was taken. It did mark a significant shift from the £3.7bn inflow in July last year. "UK retail investors remained cautious as they sold out of equity and property funds, favouring fixed income, mixed-asset and absolute return strategies," said Guy Sears, interim chief executive of the Investment Association. "Although global equity markets initially fell following the EU referendum announcement, they recovered through July to produce positive returns."

German business confidence falls post-Brexit, says Ifo.

Business confidence in Europe's biggest economy, Germany, has fallen unexpectedly after the UK Brexit vote, according to a closely watched survey. The Ifo business confidence index, based on about 7,000 company responses, fell to 106.2 points for August from 108.3 in July. It was the steepest monthly fall in more than four years and took the index to its lowest since December 2014. Despite the gloom, the euro was up slightly against the pound and dollar. The latest drop follows a much smaller decline in confidence in July immediately after the UK voted to leave the EU. Economist Carsten Brzeski at ING-DiBa said the ongoing decline "suggests that German businesses have suddenly woken up to Brexit reality. It is not the first time that the Ifo reacts with a delay of one or two months to global events,'' he said, adding that at present, the German economy remained in a "virtuous circle". Across the sectors it examines, the Ifo found confidence had fallen in all but construction and services.

Poland overtakes India as country of origin, UK migration statistics show.

Poland has overtaken India as the most common non-UK country of birth for people living in the UK, Office for National Statistics figures show. It comes as net migration estimates show it remains near record levels, at 327,000 for the year to March. The figures - for the period before Britain voted to leave the EU - are down slightly on the previous year. Net migration is the difference between the number of people coming to the UK for at least a year and those leaving. There were an estimated 831,000 Polish-born residents in 2015 - a jump of almost 750,000 compared with the number in 2004, the year the country joined the EU. India and the Republic of Ireland have traditionally been the sources of the UK's largest foreign-born groups. The latest net migration figures show a slowdown in the numbers settling in the UK from Poland and seven other former Eastern bloc countries - but that was offset by an increase in net migration from Bulgaria and Romania, which hit record levels of 60,000. Nicola White, ONS Head of International Migration Statistics, said: "Net migration remains at record levels although the recent trend is broadly flat”.

UK could remain in 'looser' EU - Lord O'Donnell.

A former head of the civil service has said the UK might remain in a "more loosely aligned" European Union, despite the referendum vote to leave. Lord O'Donnell told the Times it would take Parliament "years and years and years" to separate fully from Brussels. "It very much depends what happens to public opinion and whether the EU changes before then," he said. He later told the BBC he did not think the EU would make the radical changes needed for the UK to remain a member. As Gus O'Donnell, he was cabinet secretary from 2005 to 2011 and is now a crossbencher in the House of Lords. Lord O'Donnell told the Times: "Lots of people will say 'we've had the referendum, we've decided to go out, so that's it, it's all over'. It might be that the broader, more loosely aligned group is something that the UK is happy being a member of." Asked about these comments, he told BBC Radio 4 this was an example of a "low-probability event that might mean we don't leave". He also said his "central assumption" was that the EU would not radically change. "The probability of us not leaving is very, very low and we need to get on and implement the people's decision," he added.

Brexit may send EU 'down the drain' - German vice chancellor.

Germany's vice-chancellor has warned the future of the EU could be in doubt if the UK's exit is handled badly. Sigmar Gabriel said the EU would go "down the drain" if other states followed Britain's lead and that the UK could not keep the "nice things" about Europe while taking no responsibility. It comes as Theresa May summoned ministers for a meeting on Wednesday to discuss ideas for the UK's withdrawal. Downing Street said Brexit was "top" of the prime minister's agenda. But a report in The Sunday Times suggested her cabinet was split over leaving the single market. The UK voted to leave the European Union in a referendum vote on 23 June. Mr Gabriel, who is also economy minister in Germany's governing coalition and Chancellor Angela Merkel's deputy, told a news conference that as a result, the world now regarded Europe as an unstable continent.

Theresa May chairs cabinet Brexit brainstorm at Chequers.

Theresa May is to chair a meeting of her cabinet at Chequers to discuss the UK's approach to leaving the EU and its objectives in future negotiations. The prime minister and senior ministers are gathering to debate the way forward amid reports of tensions and diverging priorities among key figures. Those present will include David Davis, Boris Johnson and Liam Fox, each of whose departments is focused on Brexit. Mrs May has said talks with the rest of the EU will not begin this year. BBC political correspondent Tom Bateman said Mrs May had asked every Cabinet minister before the summer break to identify what were described as the "opportunities" for their departments and she will now expect them to report back.

[Don’t Panic! Everything in the garden is rosy…. At least that’s what we are expected to believe. Tourism is booming, consumer confidence has rebounded and the economy is starting to recover (even *bound back*) from the shock of the Brexit vote. Even the Bank of England is breathing a sigh of relief that we appear to have dodged a bullet. People all over the UK are going about their lives and business as if nothing has happened, probably because nothing has actually happened. But the warning signs are there for those with eyes to see them. I wonder how long it will be before the signs are front and centre and those who wanted to ‘take back control’ realise what a horrible mistake they’ve made!]

All details above from BBC News website.