Business Maverick: U.K. Firms Least Likely to Invest in Eight Years as Brexit Bites

The balance of services businesses reporting an increase in export sales stood at zero in the first quarter, its weakest level since 2009, the BCC said on Tuesday. At the same time, more said that orders had decreased than increased for the first time in eight years. Manufacturers also described a tough start to the year.

The business lobby’s survey of over 7,000 companies, employing around one million people, showed confidence dropped sharply in a period that saw Britain’s politicians mired in bitter dispute over how best to take the U.K. out of the European Union. The balance of firms reporting improved cashflow fell below zero for the first time since 2012.

“U.K. growth nearly ground to a halt in the first quarter of 2019, with increasing anxiety over Brexit and weakening global economic conditions driving a significant deterioration,” said Suren Thiru, head of economics at the BCC. “Forward-looking indicators are disappointingly downbeat with weakening orders, confidence and investment intentions pointing to precious little growth over the coming quarters, unless substantial action is taken.

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Business Maverick Op-Ed: Brexit Will Damage Europe – it is time for political creativityBrexit will damage Europe’s role in the world in a way that Europeans currently seem unable to grasp. The clock is ticking towards 29 March and the United Kingdom’s exit from the European Union. Whether Brexit turns out to be 'soft' or 'hard', the UK is set to endure a bout of severe economic turbulence. But Britain has survived much larger crises and will overcome this one at some point. For me, the real question is what Brexit means for the future of Europe.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

British MPs to vote on Brexit options - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.British MPs will on Wednesday hold votes on various Brexit options even as Prime Minister Theresa May comes under pressure to announce a departure plan to get support for her unpopular divorce deal.
Источник: SABC News Online - 🏆 32. / 51 Прочитайте больше »