BMW stopped producing engines at its Warwickshire factory for cars built in South Africa because of fears over post-Brexit tariffs, a senior figure at the firm has revealed. Production chief Oliver Zipse, who has been tipped to become the company’s next chief executive, said the decision was implemented in early ...
Treasury officials and lawyers are so overstretched they have splashed out £3 million hiring law firm Hogan Lovells to help with Brexit preparations, new documents show. The firm will spend a year working with the Treasury, to help navigate the “marked and continuing” increase in its legal work over Brexit and help ...
The European Council proposed Ursula von der Leyen as European Commission president.
Britain’s manufacturing sector plunged to its worst level of decline for more than six years in June as the end of a Brexit-related stockpiling push continued to send shockwaves through the industry. The IHS Markit/CIPS UK manufacturing purchasing managers’ index (PMI) showed a reading of 48 last month, down from ...
Diane Abbot has become the latest senior Labour figure to express concerns about the party’s policy on Brexit. The shadow home secretary – one of Jeremy Corbyn’s closest allies – said she was “beginning to worry” whether the party had got its strategy right. Her intervention will add to the ...
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 ...
Ireland's fast growing economy could suddenly contract if Britain crashes out of the European Union without a deal, a prospect that has become more likely, Prime Minister Leo Varadkar said on Wednesday. Ireland's finance ministry reiterated its forecasts on Tuesday that gross domestic product growth would fall to anywhere between ...
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 ...
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 ...