Study Claims Scottish Independence Will Be More Damaging Than Brexit

Scotland’s possible independence from the UK is more likely to harm the country’s finance sector than the UK’s withdrawal from the European Union (EU), according to a new research.

According to the study released by the Strathclyde University on Monday, Scotland’s banks and financial institutions are expected to survive the Brexit shock with no major implications.

However, the outlook of an independence from the UK looks grimier than even a “sharp” Brexit, the research warns.

Under the “hard Brexit” formula, the UK may lose its preferential access to the EU’s single market and suffer from soured relations with other EU members.

“The uncertainties for the sector following independence look even greater than those following a sharp Brexit,” read the report, which was conducted by former Royal Bank of Scotland economist Jeremy Peat and Owen Kelly, head of Scottish Financial Enterprise.

“There are risks associated with Brexit but, historically, they are not the largest that the industry has faced,” the report continued.

“While it is not easy to see new opportunities arising from Brexit, equally the threats are not, given the diversity of the sector existential.”

Around 90,000 people are directly employed by the Scotland’s financial services, while another 90,000 jobs are indirectly dependent on the industry. Overall, the sector contributes £8 billion to the economy.

Scottish and British officials have been at odds over Brexit, ever since an EU referendum in June.

Although nearly 52 percent of Britons opted to leave the bloc during the vote, some 62 percent of the Scottish people voted against the decision.

British Prime Minister Theresa May has made it clear that she will complete the Brexit process by 2019 and that Scotland has no veto over it. She has also turned down Glasgow’s calls for an ‘equal’ role in the Brexit negotiations.

The spat has revitalized Scottish hopes for secession, two years after the first independence referendum on September 18, 2014, where 55 percent of the voters opposed the idea.

According to Scottish First Minister Nicola Sturgeon says Scotland and the other two devolved administrations—Wales and Northern Ireland—were in favor of the UK remaining in the single market.

Credit: presstv

This Dead Celebrity Earned More In 2016 Than Any Living Celebrity

At a certain point, the amount of money that a celebrity makes is just a number. However, even the most aloof individual has to admit that £675 million is a pretty big one. That’s how many dollars the highest-paid celebrity of 2016 took home. The plot twist? He’s not even alive.

On Wednesday morning, Forbes announced Michael Jackson as the highest-paid dead celebrity of 2016, earning £615 million after the March sale of his half of the Sony/ATV music publishing catalog, which notably contained The Beatles library. He paid just £39 million for the catalog back in 1985, eventually splitting it with Sony ten years later, proving that he’s not just the King of Pop, but also the King of Investments. The sale put his total pretax earnings at £675million, which is the most earned in one year by any celebrity dead or alive.

For comparison, the highest-paid celebrities in 2015, like Katy Perry and Floyd Mayweather Jr., made £110 million and £245 million, respectively.

Michael Jackson also topped the 2015 list of highest-paid dead celebrities, but with a noticeably “smaller” sum at just £95 million. In fact, he has remarkably continued to earn nine figures every full year after his death. Now that’s something to dance about.

Michael Jackson tops the 2016 Forbes list of top grossing deceased superstars, earning a whopping $825 million.

Credit: yahoo