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The role of United States-owned businesses in the United Kingdom (executive summary)

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Figure 1: Proportion of total regional employment in US-owned local business units, 2019

Around 60% of all employment in US-owned local business units is outside of London and the South East. This suggests US investment is contributing to the UK’s levelling up agenda by supporting investment across the UK.

Of the nearly 1.5 million UK workers employed in US-owned businesses, 29% were employed in wholesale and retail trade, the largest of any industry. This was followed by 22% employed in scientific, technical and IT activities, 14% employed in the manufacturing industry and 9% in financial services.

US-owned businesses make a disproportionately positive contribution to the UK economy. US-owned local business units accounted for 1% of all local business units in the UK in 2019, but generated 11.4% of total business turnover. The number of US-owned local business units and employees in the UK have grown almost every year since 1997.

In 2019, US-owned local units employed workers across all regions of the UK.
London had the highest employment in US-owned local business units (355,000), followed by the South East (240,000) and the North West (133,000).

Employment in US-owned local business units grew in every region between 1997 to 2019. The region with the largest increase in employment in US-owned local units was Northern Ireland, with a 211% increase. This was followed by Yorkshire and the Humber (158%) and the East Midlands (131%).

Employment in US-owned businesses accounted for 9.1% of all employment in the wholesale and retail trade industry in 2019. This was the largest of any industry in the UK, and was followed by manufacturing (8.5%) and financial services (8.1%).

In 2019, US-owned businesses accounted for 17.6% of all UK business turnover in the scientific, technical and IT services industry. In the manufacturing industry, US-owned local units also accounted for 17.6% of total turnover. The largest industry in terms of total absolute turnover of US-owned businesses in 2019 was financial services, with a total turnover of £238.8 billion.
Between 2010 and 2019, there was an estimated increase in UK gross value added (GVA), a measure of economic impact, of at least £65.2 billion from US-owned businesses.

Foreign-owned businesses, including US-owned businesses, export a greater value of goods and services from the UK than domestically-owned businesses. It is expected that US-owned businesses contribute to wider economic impacts through exports from the UK.

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Public Notices

Japan just found 7,000 islands it didn’t know it had

Japan has recounted its islands – and discovered it has 7,000 more than it previously thought.

Digital mapping by the Geospatial Information Authority of Japan (GSI) recently found there to be 14,125 islands in Japanese territory, more than double the figure of 6,852 that has been in official use since a 1987 report by Japan’s Coast Guard.

However, the GSI this week stressed that the new figure reflected advances in surveying technology and the detail of the maps used for the count – it did not change the overall area of land in Japan’s possession.

It said that while there is no international agreement on how to count islands, it had used the same size criterion as the previous survey 35 years ago.

That entailed counting all naturally occurring land areas with a circumference of at least 100 meters (330 feet).

The new number does not include any artificially reclaimed land.

The islands surrounding Japan have been at the heart of several territorial disputes.

Japan lays claim to the Russian-held southern Kuril islands, which Tokyo calls the Northern Territories, a dispute that dates to the end of World War II, when Soviet troops seized them from Japan.

Japan also says it has a historical claim to the uninhabited Senkaku Islands in the East China Sea, which it currently administers, but China has repeatedly challenged that claim.

Meanwhile, Japan and South Korea remain locked in a more than 70-year dispute over the sovereignty of a group of islets known as Dokdo by Seoul and Takeshima by Tokyo in the Sea of Japan, which Korea calls the East Sea.

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Public Notices

Yosemite National Park to partially reopen after 3-week closure

Yosemite National Park will begin to reopen Saturday with limited access and hours, the US National Park Service has announced. The park remains closed today.

The popular park, nestled in the Sierra Nevada mountains, was closed because of a series of damaging storms that have swept across the region in recent weeks.

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Public Notices

Charles and Camilla

Britain’s King Charles III and his wife, Queen Camilla, have been married since 2005. They reportedly met at a polo match in 1970 and became friends when Charles was a prince.

When Charles joined the Royal Navy in 1971, Camilla married cavalry officer Andrew Parker Bowles.

Charles married Diana Spencer in 1981 but then admitted in 1994 that he had been having an extramarital affair with Camilla. Diana confirmed his infidelity and her own the following year.

Camilla got a divorce in 1995, and Charles and Diana divorced in 1996. Camilla all but vanished from public life at the time as public and media support swung behind Diana.

In 1999, Clarence House embarked on a program to reintroduce Camilla to the public with a carefully orchestrated first appearance with Charles outside the Ritz Hotel in London.

Six years later, their decades-long love story culminated in a wedding that had the consent of Charles’ mother, Queen Elizabeth II. Camilla was confirmed as Charles’ official consort and future queen.

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