Business

Scotch whisky is among the products targeted by the US for a possible range of new tariffs on imported goods. GMB Scotland says reports Scotch whisky is among the products targeted by the U.S. for a new tariffs provides a troubling look future trade negotiations. The US has today threatened to impose tariffs on European Union imports worth up to $4bn (£3.2bn), although it is not known when tariffs would be imposed. In April, the US announced proposed tariffs on...

The Duchy of Cornwall’s assets are worth more than £1 billion, annual accounts have shown. The assets of the Duchy, a portfolio of land, property and investments which provide an income for the Prince of Wales, have risen £33 million to £1,099,748,000 in 2018/2019. Charles’s annual income from the duchy is £21.6 million, down just over £100,000 on the previous financial year. Although the income generated for Charles fell slightly, the Duchy still expects to achieve its target of 2.6%...

Bank of England boss Mark Carney has warned that a “notable” increase in no-deal Brexit fears and ongoing uncertainty is damaging Britain’s economy. The Bank’s governor told MPs the lack of any progress towards a deal and the extended Brexit deadline is leaving firms in limbo in terms of preparations and investment. In a hearing with the Treasury Select Committee, Mr Carney said there has been a “notable increase” in market expectations of no deal. He said this uncertainty in...

Banks in Britain are showing signs of restarting preparations for a no-deal Brexit after a lull in the shift of financial services jobs and capital from Britain to the European Union in the past few months, consultants EY said on Wednesday. EY's Brexit Tracker of public announcements from 222 of the largest financial services firms in the three months ending May 31 found that the 7,000 planned job and a trillion pounds in capital relocation to new EU hubs was...

Whilst there is much work still to be done on the issue, we take a look at some of the firms that are getting it right.

Southern Water has been hit with a record £126 million penalty package after a “shocking” Ofwat probe uncovered failures in the firm’s sewage treatment sites and found that it fixed wastewater samples. Customers of the utility company will now receive rebates of £61 over the next five years after Southern Water agreed to the package, which, given the size of the firm, is the largest the regulator has ever imposed. Ofwat said its large-scale investigation found that Southern Water failed to...

British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept shoppers out of its stores. New Look, owned by South African investment firm Brait, reported statutory loss before tax of 522.2 million pounds for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a...

Britain’s car industry called on Tuesday for the next prime minister to secure a Brexit deal which keeps frictionless trade with the EU, warning a no-deal exit risked billions of pounds in tariffs and border disruption which could cripple the sector. Boris Johnson, the frontrunner to succeed Theresa May, and his leadership rival Jeremy Hunt have both said they are prepared to take Britain out of the EU without a deal, although both says it is not their preferred option....

Busy office workers are managing to squeeze in a meagre 16 minutes a day for lunch, a study has found. Researchers found despite having a full hour to enjoy a much-deserved break, many take a quarter of this period to eat, and nearly half will typically dine ‘al-desko’ at precisely 12.43pm. One in 10 admitted eating the same meal for lunch EVERY day, with the most popular reoccurring choices being a plain cheese sandwich or a meaty ham sandwich. And...