British businesses split on Brexit ‘brain drain’ in tech industry July 12, 2019 More than half of British businesses fear the threat of a potential tech brain drain after Brexit, according to a survey by tech giant Salesforce. Almost 60 per cent of London firms believe they will lose access to digital talent once the UK leaves the EU, according to the software seller. Read more: These are [...]
DFS share price falls as it warns investors of ‘volatile’ political backdrop July 11, 2019 DFS posted strong sales growth for its latest financial year today but also warned future earnings could suffer from uncertain economic outlook. Read more: DFS doubles profit but warns of ‘challenging’ 2019 The sofa giant revealed that online sales growth hit 17 per cent in the 12 months to the end of June, with underlying [...]
Boris Johnson can deliver a bolder economic vision for Britain July 10, 2019 Brexit Britain is at an impasse. Half-in, half-out, with our politics gridlocked, we are now in serious danger of undermining our traditional attractiveness as a magnet for global investment. This week’s quarterly survey of FTSE CFOs by Deloitte shows that 83 per cent expect the UK’s economic prospects to worsen as a result of Brexit [...]
UK must prepare for a ‘low growth economy’ as Brexit uncertainty plagues business investment July 8, 2019 Investment in British business is set to suffer in 2019 as prolonged uncertainty surrounding Brexit tightens its grip on the willingness to commit to major projects, a leading forecaster has said. EY’s Item Club, which uses the Treasury’s model of the UK economy, says that business investment will contract 1.6 per cent – a decline [...]
Hammond vows to block no-deal Brexit July 5, 2019 Chancellor Philip Hammond will “find a way” to block a no-deal Brexit come 31 October, he said today. Read more: Leaving the EU without a deal would cost the UK £90bn, says Hammond The Treasury boss warned Prime Minister Theresa May’s successor not to “sideline” MPs to deliver Brexit. Hammond branded such a move “shocking” [...]
High street sales suffer wash out June July 5, 2019 High street retailers suffered a wash out month for sales in June in a further blow for the struggling sector. Brexit uncertainty continued to have a “crippling” effect on retailers three years on from the referendum, accountancy firm BDO said, as it revealed that like-for-like in store sales fell by 0.8 per cent last month. [...]
Logistics sector optimism hits record lows over Brexit fears July 4, 2019 Optimism in the logistics sector has plummeted to record lows as the industry battles Brexit fears. According to the Logistics Confidence Index compiled by Barclays and BDO, the industry has reported net pessimism for the first time since records began in 2012. Read more: Amazon to create 2000 UK jobs in post-Brexit vote of confidence [...]
No-deal Brexit would cost UK £90bn, warns Philip Hammond July 2, 2019 A disruptive no deal Brexit could cost the treasury £90bn – far more than is set aside to cope with such an outcome, Philip Hammond warned today. Speaking in the Commons, the chancellor claimed that leaving the EU without an agreement would cause such a hit to the UK economy the £27bn war-chest created to [...]
Jeremy Hunt sets 30 September as no-deal Brexit ‘D-Day’ July 1, 2019 Jeremy Hunt would decide on 30 September whether to take the UK out of the EU without a deal if he was Prime Minister, he has revealed. The foreign secretary made the announcement on Monday morning as he set out his so-called “Brexit delivery plan” in a bid to show he was serious about walking [...]
UK manufacturing sector records worst month in six years July 1, 2019 UK manufacturing fell to its lowest level of output since February 2013 last month, according to a closely followed measure of industry activity. The sector’s downturn deepened in June as it fell to a 76-month low of a score of 48 on IHS Markit’s purchasing managers’ index (PMI) measure, released today. Read more: Eurozone manufacturing [...]