Britain’s Hammond promises new economic plan to handle Brexit turbulence
Oct03

Britain’s Hammond promises new economic plan to handle Brexit turbulence

Britain needs a new fiscal plan to navigate economic turbulence caused by Britain’s vote to leave the European Union, finance minister Philip Hammond said on Monday, stressing the need to balance spending cuts with infrastructure investment. On Sunday, Prime Minister Theresa May told the Conservative Party annual conference she would formally trigger the EU exit by the end of March next year, at which point Britain will enter...

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UK faces economic turbulence during Brexit process
Oct03

UK faces economic turbulence during Brexit process

The British economy will face turbulence as the government negotiates the country’s exit from the European Union, finance minister Philip Hammond said today. On Sunday, Prime Minister Theresa May said Britain would begin formal divorce talks with the EU by the end of March next year, and Hammond said he was in favour of getting a deal done “as soon as possible”. “We must expect some turbulence as we go through...

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Brexit could mean UK gets more fruit and vegetables from Africa
Aug05

Brexit could mean UK gets more fruit and vegetables from Africa

Consumers in the UK could see a rise in fruit, vegetables and other produce coming from Africa following the UK’s vote to leave the EU, according to a survey of retailers. The EU is currently the main source of food imports to the UK, with EU member states making up nine out of 10 of the biggest importers. But about one-third of UK retailers now say they are considering sourcing from a different country and 38% expect to see more...

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Swiss-EU immigration curb talks creep on despite Brexit vote
Jul28

Swiss-EU immigration curb talks creep on despite Brexit vote

European Commission President Jean-Claude Juncker has let negotiators pursue a deal on curbing an influx of foreigners to Switzerland, diplomats said, keeping alive Swiss hopes of avoiding a rupture with its most important trading partner. The talks are crucial for Switzerland, which has threatened to impose unilateral curbs on immigration from the EU next year, but will also be scrutinised for potential hints of what Britain might...

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GSK outlook brightens as Brexit brings currency windfall
Jul28

GSK outlook brightens as Brexit brings currency windfall

Demand for new medicines helped GlaxoSmithKline grow earnings in the second quarter and the drugmaker is set for big gains in the rest of 2016 thanks to a weak pound, after Britain’s vote to leave the European Union. GSK, whose outgoing chief executive Andrew Witty had backed Britain staying in the EU, will benefit from the fact that many of its costs are in sterling while it earns nearly all its money overseas. It earlier...

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