The UK wants to crack down on foreign workers. Businesses worry Brits can’t — or won’t — fill the labor gap
CNBC’s Holly Ellyatt reported this morning that British businesses are concerned about a labor shortage arising from U.K. government plans to tighten immigration policy.
The British government on Monday announced plans to cut migration to the U.K., tightening the rules on who can come to work, study and live in the country. The proposals raise English-language requirements for migrants, as well as the skills and level of education they need to obtain work visas.
Read Holly’s story in full here.
German inflation hit 2.2% in April
Germany’s annual harmonized inflation rate stood at 2.2% in April, data from the country’s Federal Statistical Office showed on Wednesday.
The data release confirmed preliminary figures released at the end of last month.
— Chloe Taylor
Opening calls
Good morning from London.
European stock markets are expected to open lower, paring some of the gains seen earlier this week after the U.S. and China agreed to a trade truce.
Futures point to the Stoxx Europe 600, Germany’s DAX and the French CAC 40 all opening 0.2% lower, while the FTSE 100 is slated to shed 0.3%.
Investors are looking ahead to earnings updates from Burberry, TUI, Imperial Brands, Experian, Compass Group, Telefonica and EON.
— Chloe Taylor