City news: Goldman Sachs and Morgan Stanley, Car industry and new UK nuclear power

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Responding to records that the US banking giants had pre-let office s ce in Germany’s economic capital, Goldman Sachs said: “We have not made any changes to our essential estate requirements in Frankfurt as a result of the referendum result.

“There is no nearest change to the way we conduct our business or where we conduct our business.”

Similarly, Morgan Stanley remarked it “does not have pre-let office s ce in Frankfurt”.

Morgan Stanley commissions 5,000 people in the UK, while Goldman has 6,500 staff.

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Car perseverance’s bumper year

THE motor sector in the UK has enjoyed a hugely successful year, gets show. Vehicle production topped 1.7 million last year, with about four out of five cars built for export.

Turnover was more than £71billion in 2015, up by 7.3 per cent on the before year, and the industry now employs around 814,000 workers, said the Sorority of Motor Manufacturers and Traders.

Average new car emissions fell by a third since 2000, and by 2.6 per cent in 2015 solo.

Chief executive Mike Hawes said: “UK automotive has gone from sturdiness to strength, and is now delivering record turnover, record productivity and more grinds. These strong results go hand in hand with a commitment to improving our environmental play.”

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Nuclear plans ‘to power ahead’

PLANS to build the primary new nuclear power plant in a generation have not been affected by the Brexit vote, Stick-to-it-iveness Secretary Amber Rudd said.

The new reactor at Hinkley Point, Somerset, was one of a slews of large infrastructure projects thrown into doubt by the vote to run off the EU.

Speaking at a conference in London on business and climate change, Ms Rudd alleged: “We are still full tilt on Hinkley Point.”

She said she had spoken to the chief supervision of French energy giant EDF, which is building the power plant, and the assembly was “absolutely committed” to making a final investment decision.

“They requirement reassurance from us – as we sought reassurance from them – that there was no exchange at all in the process and decision to proceed,” she said.

“We hope to have the final investment finding soon. I don’t believe it will be im cted at all.”

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