TOKYO: Japan and Britain signed a bilateral free trade deal on Friday (Oct 23) in the first such major post-Brexit deal, reducing tariffs on Yorkshire lamb sold in Japan, as well as auto parts for Japan’s Nissan plant. “How fitting it is to be in the Land of the Rising Sun to welcome in the dawn…
Cornwall is one of the UK’s most popular tourist destinations – Getty Images The UK is set to lose up to £22bn in tourism revenues this year because of the coronavirus pandemic, an industry body has predicted. Spending by visitors from overseas could fall by as much as 78%, equivalent to £60m a day, said…
Many shops across London have permanently closed due to coronavirus (via Getty Images) More than 60 percent of London firms expect to lay off some of their furloughed employees, a survey has said, in a sign of the wave of unemployment that is to come. The Lloyds Bank business barometer found that just under one…
Reuters Coronavirus will lead to a worldwide economic downturn somewhere between a “bad dream and worst nightmare”, former cabinet minister Liam Fox has warned. The Conservative MP said many leaders have failed to grasp the expected economic fallout from the crisis. Dr. Fox was speaking to BBC Newsnight as he made his case to become…
The British Retail Consortium has piled pressured on the UK government to agree a Brexit trade deal that does not lead to price increases in shops. In May, the government published the UK Global Tariff – the new tariff schedule that will apply from 1 January 2021 if a Brexit deal with the European Union is not agreed. It…
Johnson anticipated ‘bumpy times’ ahead as he rolled out a new plan to reinvigorate the UK’s economy. British Prime Minister Boris Johnson on Monday anticipated “bumpy times” ahead as he rolled out a new “big plan” to reinvigorate the United Kingdom’s economy coming out of the coronavirus pandemic, but he warned that going back to austerity would be “a mistake.”…
The Bank of England (BOE) stands in the City of London, U.K., on Wednesday, May 6, 2020. Bank of England policymakers will meet this week knowing that they’ll probably have to do more to combat the U.K.’s economic slump, if not now then soon. Photographer: Simon Dawson/Bloomberg , Bloomberg (Bloomberg) — The Bank of England…
How has the Leave vote affected the UK economy, ask Swati Dhingra and Thomas Sampson (LSE) in this second of two blogs based on the CEP Election Analysis briefing on Brexit. It summarizes CEP research on how the referendum outcome has affected the UK economy since 2016. The first blog, which reviews work on the potential long-run economic effects of…
| Business Insider –Three of Europe’s largest economies are under threat of recession, which could spell a crisis across Europe. –Dozens of companies in Germany have turned to “short-time” work — cutting employee hours — a canary in the coal mine of industrial weakness –Britain could also already be in a recession despite having not…