Brexit effect British economy News

Prospect of Brexit Deal Is ‘Touch and Go,’ Acknowledges PM Johnson

U.K. Prime Minister Boris Johnson acknowledged Sunday that the prospect of a Brexit deal was “touch and go,” as other European Union capitals grasp the problems Britain has with the withdrawal agreement. Speaking on the sidelines of the Group of …

UK Lawyers Could Be Forced Out of EU Courts with No-Deal Brexit

UK lawyers with lucrative careers in European Union law are fighting to save their jobs after the bloc’s top courts warned that a no-deal Brexit would forbid them from representing clients. In an April letter, a senior official at the …

No-Deal Brexit Could Push UK Economy into Recession, Says Fiscal Watchdog

A no-deal Brexit could plunge the British economy into recession, hammer the pound and drive up government borrowing, according to the U.K fiscal watchdog. The analysis from the Office for Budget Responsibility is based on the “less disruptive” of two …

UK Business Executives Grow Increasingly Angry at Brexit Deadlock

There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on leaving the European Union …

Threat of No-Deal Brexit Isn’t Likely to Win EU Concessions: UK Business Chief

Threatening to leave the European Union without a deal isn’t likely to win Britain concessions from the bloc, the country’s biggest business group said in a warning to candidates jostling to succeed Prime Minister Theresa May. “I’ve never felt it …

UK Business Group Warns Next Tory Party Leader to Avoid No-Deal Brexit

Prime Minister Theresa May’s successor must avoid a no-deal Brexit or risk losing the Conservatives’ moniker as the party of commerce, the U.K.’s biggest business lobby group said. The task facing the next prime minister is to “restore the U.K.’s …

UK Prime Minister to Resign on June 7, Paving Way for Possible No-Deal Brexit

Fighting back tears, Theresa May said on Friday she would quit, setting up a contest that will install a new British prime minister who could pursue a cleaner break with the European Union. May’s departure deepens the Brexit crisis as …

UK Risk Managers List Brand Damage, Brexit, Cyber Attacks as Top 3 Business Risks

The top three risks facing UK risk managers are reputational damage, Brexit and cyber attacks, according to Aon’s 2019 Global Risk Management Survey of thousands of risk managers across 60 countries and 33 industries. In comparison, survey respondents globally ranked …

UK Companies Fed Up with Politicians as Cost of Brexit Uncertainty Mounts

As the cost of the Brexit turmoil mounts for British companies, business leaders are fed up with the U.K.’s political class. And with Prime Minister Theresa May’s tenure coming to an end, they worry about the alternatives. “The anger is …

Brexit Uncertainty Takes a Toll on UK Businesses: Report

As talks on a Brexit deal fumble on, the uncertainty it has brought is hurting U.K. property firms and the financial services sector. The number of companies classed as being in “critical distress,” often a precursor to insolvency, rose 17 …