Brexit tremors

The sportswear manufacturer O’Neills has told Radio Foyle this morning that planned investment at its Strabane site has been put on hold until it gets Brexit clarity.

It comes the week after the local Derry and Strabane district council passed a motion calling for the North to be granted Special Status.

Meanwhile in Lisburn Coca Cola HBC has said its “mapping out” the potential impact of Brexit on its business. It currently distributes 95% of Coca Cola products sold throughout Ireland.

This follows reports that another drinks company Diageo is also flagging up its concerns about the financial impact of a potential hard border.

The British insurer Legal and General has announced plans today to move some of its investment management operations to Dublin to ensure it can continue to serve its customers after Brexit.

The report from the Insurance Business magazine says :

“IDA Ireland said that several insurers, asset managers and banks would be setting up operations in Ireland, and that official announcements were expected starting in June.”