Business

British companies look set to cut their investment by the most in 10 years in 2019 as the Brexit crisis drags on, weighing on future economic growth prospects, a survey showed on Monday. Business investment - key for productivity and pay growth - was forecast to fall by 1.3% this year before growing by only 0.4% in 2020, the British Chambers of Commerce said. The BCC nudged up its overall economic growth forecast for 2019 to 1.3%, reflecting a surge...

Tens of thousands of British businesses could find themselves in trouble with the taxman by failing to follow new rules on keeping digital records. More than one million firms with an annual taxable income of in excess of £85,000 are now legally required to submit VAT returns online. But a survey of 500 SME senior decision makers revealed 11 per cent of those polled aren’t aware of the new requirement. There also appears to be confusion from businesses about whether...

Britain’s businesses are being advised to prepare for no-deal Brexit after hard-line Brexiteers took the lead in the latest Conservative leadership vote. The Institute of Directors – one of the UK’s employers’ groups – said companies should not put faith in politicians to produce an agreement as the October 31st deadline looms. Less than half of businesses have Brexit plans, according to its figures, and only 4 per cent of those questioned said they would be using the extension period...

China's economy flashed more warning signs in May as the United States ramped up trade pressure, with industrial output growth unexpectedly slowing to a more than 17-year low and investment cooling, underlining a need for more stimulus. Despite a slew of support measures since last year, China's economy is still struggling to get back on firmer footing, and investors fear a longer and costlier trade war between the world's two largest economies could trigger a global recession. Industrial output grew...

One-hour lunch breaks, working nine to five and a simple tea round are among the things office workers miss about the past, according to a study. The research of 2,000 office workers aged 40 and over revealed the extent to which things have changed over the years, with six in 10 saying work was ‘easier’ in previous decades. Being able to leave work on time without feeling guilty, wearing a suit or set uniform and shutting emails down at the...

Tesco, Britain's biggest retailer, has warned that getting ready for a possible disorderly no-deal Brexit in October would be far more problematic than preparations it made for the original planned departure date in March. Britain had been due to leave the European Union on March 29, but Prime Minister Theresa May was unable to get her divorce deal ratified by parliament and the date is now set for Oct. 31. That is not good timing for Tesco as it falls...

Packaging products maker DS Smith Plc said on Thursday that it had made plans for contingency stocking of spare parts as it readies for Britain's planned exit from the European Union, but expected disruption to its operations to be "relatively contained". The company, which makes corrugated cardboard, recycled paper and plastic packaging, posted a 31% rise in full-year adjusted pretax profit, but said box volumes growth slowed due to previously flagged weakness in certain export markets during the second half...

Britain's financial watchdog has defended its controversial decision not to sanction lender RBS or its former executives for past mistreatment of small business customers. The Financial Conduct Authority said it was sticking by its decision not to apply penalties for actions of RBS's former turnaround unit, the Global Restructuring Group. "Our investigation has found that GRG clearly fell short of the high standards its clients expected but it was largely unregulated and so our powers to take action in such...

The global use of the euro currency surged from record lows last year, mostly on a flight from the dollar due to the volatility of American politics and concerns about rising U.S. interest rates, the European Central Bank said on Thursday. Demand for the euro, the world's second most widely used currency after the dollar, fell to historic lows over the past decade. Its rebound suggests both concerns about U.S. politics and growing confidence about the future of the euro...