Business and Economics

UK new car registrations declined by -3.4% last month, as political and economic uncertainty

Brexit has cost the UK economy £600 million per week since the referendum in 2016 - and the country could be hit even harder if we leave without a deal. A new report published by investment banking giant Goldman Sachs argues that had UK voters opted to Remain the economy would have been in a much stronger position, instead of underperforming and lagging behind other advanced economies. The analysis shows 2.5 per cent has been shaved off GDP since June...

The numbers with a pessimistic outlook has increased from a sixth - 16 per cent - since the referendum.

JPMorgan Chase & Co is asking around 300 London-based staff to sign new contracts confirming they will leave the UK in the event of a no-deal Brexit, Bloomberg has reported. Staff working in areas such as sales and risk have been presented with contracts in the last week that demand they relocate to a European Union country in a no-deal scenario. The affected staff were warned months ago, but with JPMorgan activating its Brexit contingency plans, they now must decide...

Academics say long-term decline forecast for large areas of the UK Significant parts of Britain will experience a decline in economic growth over the next twenty years, a study says. The 2019 edition of the UK Competitiveness Index is compiled by researchers at Cardiff University and Nottingham Business School. As well as assessing the competitiveness of localities in England, Wales and Scotland today, forecasts have been compiled data to predict how they will fare in the years to come. By...

Sentiment and volumes are deteriorating sharply in the financial services sector, with various indicators at their lowest since the Financial Crisis of 2008, according to the latest CBI/PwC Financial Services Survey. The quarterly survey of 84 firms found that optimism about the overall business situation in the financial services sector plunged sharply, falling at the quickest pace since December 2008. Optimism has now been flat or falling for over three years. Business volumes fell for a second consecutive quarter, and...

The EU’s agreement of a short extension of Article 50 reduces the likelihood of a no-deal ‘Brexident’ next week. Even if Scope has expected the UK to avoid a no-deal exit, the consequences of prolonged uncertainty for the UK’s credit ratings are growing. The EU agreed Thursday to a short Article 50 extension until 22 May, less than the UK’s request for an extension to 30 June and conditional on the Brexit deal being approved in the UK Parliament next...

Boring canteen food, long hours and incompetent bosses are among the most common reasons why Brits quit their jobs, it has emerged. Researchers who polled 2,000 workers found employees start thinking about leaving a job an average of three years and six months after starting. The list of reasons for quitting also includes feeling too old in the workplace compared to younger members of staff and not getting a pay rise. The research, commissioned by working animal charity SPANA, also...

Whatever happens next, Brexit has inflicted unprecedented damage on the UK’s financial services industry, the founder and CEO of one of the world's largest independent financial advisory organisations has warned. The finance sector, which makes up about 6.5 per cent of Britain’s GDP, is heavily reliant on Britain's connections with the EU's single market and could face significant disruption in the event of a no deal Brexit. But regardless of how the negotiations pan out, Nigel Green of deVere Group says...