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Pointing to investments by Google, Apple and Japan's Softbank, he said: "The UK is now seen as a buying opportunity because of the depreciation of the currency and the fact that fundamentally we are still a large market with 65 million affluent consumers." 'Reinvent ourselves' In wide-ranging comments on Friday, the chancellor also said: Scotland would not be able to negotiate with the European Union separately from the UK Former prime minister Tony Blair was to blame for the perception of "uncontrolled migration" because he failed to stagger the influx of EU migrants in 2004 The UK could change its "economic model" if locked out of the EU's single market - reiterating his threat made to German newspaper Welt am Sonntag last week The UK was fully prepared to reinvent itself after Brexit, Mr Hammond said at the annual economic event. "If we were to be, by some catastrophe, closed off from those [European] markets we would have to reinvent ourselves. "And I just want to send out a clear message that we've reinvented ourselves before... we will do so again if we have to," he said. 'Long transition' Also at Davos, German finance minister Wolfgang Schaeuble said the UK and Europe had to manage Brexit "to minimise or to avoid any damage to the UK as well as for Europe". "The UK remains a very important partner," Mr Schaeuble said. But he added the "detail" would be much complicated than "the opening speeches". Image copyright Getty Images Image caption Wolfgang Schaeuble said the UK is an "important partner" Mr Hammond said the UK's exit was not just about negotiating a free trade deal, and could involve talks on migration policy and interim arrangements. "There will be many transitions involved these will take many years." The government has said it will trigger Article 50 - the formal process of leaving the EU - by the end of March.
The idea has been long been dubbed "indyref 2" and that hashtag shot to the top of Twitter's trends list shortly after the vote result became clear. Scotland voted 62% in favour of Remain. Image copyright Twitter The conversation online was being driven overwhelmingly by pro-independence campaigners. But people who had supported "Better Together" during the Scottish referendum vote also spoke about the possibility of a break-away from the UK as a result of the vote over EU membership. Perhaps the most significant was Scottish author JK Rowling who tweeted : "Scotland will seek independence now. Cameron's legacy will be breaking up two unions. Neither needed to happen." Image copyright Twitter Many took to Twitter to express new or strengthened pro-independence feelings in the wake of the latest vote (Just as a reminder: a "Yes" vote in Scotland's 2014 referendum was for independence, while the winning "No" campaign backed staying in the UK). Image copyright Twitter One old tweet from 2014's independence referendum gained new life on
To read more about fashion store visit clothes shopFriday. Put out by the cross-party Better Together campaign, it reminded Scottish voters that the EU membership of an independent Scotland would be no sure thing: Image copyright Twitter Next story: Nigel Farage's wild night As the EU referendum vote swung decisively to Leave, perhaps nobody's fortunes changed more than UKIP leader Nigel Farage.
Some 91,500 John Lewis employees, known as partners, last year received a bonus of 10 percent, equivalent to more than five weeks' pay. The size of the bonus is announced along with full-year results in March. "Although we expect to report profits up on last year, trading profit is under pressure," said Mayfield, chairman of a group which also runs the up-market Waitrose supermarket chain. "This reflects the greater changes taking place across the retail sector. We expect those to quicken, especially in the next 12 months." Trading updates from retailers released this week showed those firms with the best online operations performed strongly. Online-only fashion retailer ASOS (ASOS.L) said on Thursday it would also accelerate the pace of its infrastructure investment as it expects sales to rise by nearly a third this year following bumper demand over the Christmas period. John Lewis has been among those leading the way in online sales in recent years but it said on Thursday that it now needed to rebuild to prepare the business for even faster change. It did not say how much it would spend on the programme. The group's department store business posted underlying sales up 2.7 over the six weeks to December 31, with online sales up 11.8 percent and shop sales up 0.8 percent.
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