BREXIT UNCERTAINTY
Siemens set to continue UK investment
Schneider Electric is preparing job cuts amid an uncertain outlook for construction markets
Siemens says it will continue to invest in its London and UK operations despite the "unclear" future following Britain’s decision to leave the EU. Siemens UK CE Juergen Maier, visiting Berlin with Rajesh Agrawal, London’s deputy mayor for business, said London was an important part of the future for Europe’s largest engineering company. "While the exact terms of the UK’s exit from the EU are unclear, we are committed to London in the long term," Maier said. "London remains a leading centre for innovation and technology and we see many opportunities for collaboration on talent, digitalisation and investment," he said. Siemens did not announce any new spending or projects in the UK, but noted its current investments, such as a rail project set to deliver 1,400 carriages in London and its global centre for sustainable city technology, located in the UK capital. The comments come as companies grapple with how to plan for a future in which the UK is no longer part of the EU. Prime Minist...
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