Business and Economics

The richest countries in the world have this week collectively advised Britain to reverse Brexit or risk destroying its economy. The Organisation for Economic Co-operation and Development (OECD), an intergovernmental economic organisation made up of 36 member countries, made the explosive suggestion of a further referendum to reverse Brexit after a report warned of severe consequences following the divorce. Its analysis suggests a “no-deal” Brexit would wipe up to a staggering £40 billion off UK economic growth by 2019, with...

Britain is home to some of the best work environments in Europe when compared to other major economies, a new study has revealed. Despite a third of Brits saying they don’t get enough recognition from their boss, some 67 per cent say they think their manager has a genuine interest in their wellbeing and happiness at work. Almost half say they get on well with their boss on both a professional and personal level and two thirds agree they deserve...

As David Davis urges ministers to rebel against the Government's Brexit deal in a defining week of the negotiations with the EU, IW Capital reveals investor sentiment towards the leaving process with less than six months to go until the UK leaves the European Union. Key stats include: Three in ten - 8.7 million - said that securing a good deal with the EU was crucial to them continuing to invest into UK SMEs. 12.6 million – 43% - feel that...

A new piece of research, of 500 firms, has discovered that European businesses have already cut ties with existing British suppliers. The study was carried out by RSM (a professional services firm) in collaboration with the European Business Awards, who discovered almost ten per cent had moved away from British exports, citing issues over Brexit, reports the City AM. Jean Stephens, chief executive of RSM International, said: “Internationally-minded businesses are currently experiencing one of the most prolonged periods of global...

The UK faces a period of lower growth due to Brexit, according to another forecaster. The EY ITEM Club said the UK will have three years of lower than predicted economic growth, and if no deal is agreed on Brexit it is likely to be even worse. The EY Item Club predicted GDP growth of 1.3% this year and 1.5% in 2019, down from 1.4% and 1.6% respectively in its previous outlook three months ago. Howard Archer, chief economic adviser...

There were renewed concerns in the Eurozone that Italy’s anti-establishment 5-star movement would ditch the Euro. Both the right-wing League, who govern the country with the 5-star movement, campaigned on an anti-euro platform. However, they backed away from the move when they came into power in June. Rumours have since been circulating that Italy might be considering leaving the single currency, but that was quashed last night. Italian Deputy Prime Minister Luigi Di Maio said: “No-one need fear an exit...

it will be many of the "just about managing" that May came to power promising to help that will suffer the most

World famous toy trader Hamleys has made a £9.2m loss for the year up to 31st December. The year before that they made £1.7m. They have put the blame for difficult trading down to Brexit and the potential terror threat. Hamleys is the world’s oldest toy retailer and was forced to shut some of its branches recently. They ceased trading entirely across three markets - Sweden, Denmark and Norway. "In the UK, 2017 was one of the most challenging years...

This is another kick in the teeth for the UK’s proud shipbuilding tradition says GMB Union GMB has expressed outrage after almost 300 job losses were announced at Cammell Laird. The company said it was slashing 291 jobs - nearly 40 per cent of the workforce – by March 2019. Just this week the shipyard won two contracts worth more than £600 million, to maintain Royal Fleet Auxiliary ships. GMB will meet with members on October 15, before meeting with the...