WHAT’S NEWS
Value of British Brands
The potential added value that could be generated by promoting the Britishness of products is estimated £3.45bn per annum. – Barclays
Outsourcerers’ Woes
Capita fails to win central government work since January profit warning. Outsourcers struggle with slowdown in new contracts, rises in minimum wage and council cuts. – FT
Carillion collapse shakes UK outsourcing industry model: focus on contract wins and acquisitions provided “illusion of growth”. – FT
How outsourcing is falling out of fashion in the UK: British outsourcerers, including Capita, Interserve, Mitie, G4S and Serco, suffer from local authorities taking contracts back in-house. – FT
Historic Korean Peace Talks
In a historic summit today, North Korean leader Kim Jong-un and South Korean President Moon Jae-in agreed to end a seven-decade war and pursue the “complete denuclearization” of the peninsula. – WSJ
The historic meeting between the leaders of North and South Korea has raised hopes of a formal peace treaty between the two countries, allowing for mutual recognition for the first time since they were established in the aftermath of the World War II. – FT
“We solemnly declare to our 80m people and the world that there will be no more war on the Korean peninsula and a new era of peace has begun.”
– Kim Jong-un and Moon Jae-in
Among other things, the North’s Kim Jong-un and Moon Jae-in of South Korea agreed to connect and modernise railways and roads across the border and organise a reunion of families left divided by the war. – BBC
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