FIRST AIRED: January 10, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> No Brexit fears at Snapchat, the messaging app making a beeline across the Atlantic for London to setup their international headquarters.
SOUND] R
uters Paul Sandle says for Britain, this is another welcome boost as it gears up to leave the EU.>> It's a vote of confidence in Britain after the vote to leave the EU, which many analysts and commentators said would put Britain's reputation at risk as a destination for foreign investment.
00:00:28
Snapchat is the latest in a quite a string of announcements from major US companies who already had Google, Amazon, and Facebook all investing a lot of money in London. And they're going to continue invest, continue adding jobs and offices in the British capital.>> In Snapchat's eyes, London's wealth of talent in the creative industries makes it attractive.
00:00:52
More so than the lure of Luxembourg or Ireland.>> It's not taken the well worn path trod by many of its rivals like Facebook and Google and Apple, who've all located their European hub in Dublin. Amazon is in Luxembourg mainly for tax reasons. Snapchat is looking to avoid that kind of controversy.
00:01:16
So being in London it feels it can have a simpler structure, and it can be more transparent.>> Change in the air, both good and bad. Google's plans include a 1 billion pound investment and 3,000 new staff in London. Whilst Facebook wants to up its presence here by 50%.
00:01:32
But additional tech recruitment may be dwarfed by the number of jobs lost in the financial sector if banks relocate to remain in the block.