Around half of small firms say Brexit will change their trading habits, but they’re not sure how,Â âaccording to money transfer platform TransferWise.
The Bank of England has dramatically upgraded its growth forecast for this year but stressed that households will still experience a major squeeze on incomes due to rising inflation. In its latest Inflation Report, the Bank upgraded its 2017 GDP growth forecast to 2 per cent, up from 1.4 per cent in November.
‘They want to know how to trade internationally a bit more,’ says Marcelino Castrillo, Managing Director for Business and Private Banking at Natwest.
The City’s top lobby group has performed a dramatic u-turn on Brexit, scrapping its previous campaign to remain in the EU and instead hailing the vote to leave as “unprecedented opportunity” for the UK to develop a powerful new set of trade and investment policies.
Barclays has chosen Dublin, capital of the Republic of Ireland, as its headquarters within the European Union post-Brexit, according to a report by Bloomberg.
Manchester United may be about to lose its coveted title of football’s richest club, as a result of Brexit. According to the Football Money League – an annual report compiled by the financial consultancy firm Deloitte – the Old Trafford club has this year regained its position as the world’s highest revenue-earning club for the first time since 2003/04. But the glory could be short-lived. The latest version of the report released on Thursday warns it will likely be replaced by Spanish giants Real Madrid or Barcelona next year.
The plan for a “hard Brexit” will lower UK incomes and cost up to 10% of GDP over 15 years, according to analysts at Bank of America Merrill Lynch.
Britain’s top share index ended its record 14-day winning streak on Monday, finishing down for the first day since Dec. 21, as banking stocks slumped on ‘hard Brexit’ worries