Bank of England warns investment will suffer under no-deal Brexit | Business

Businesses would be likely to cancel their investment projects in Britain under a no-deal Brexit, paving the way for weaker economic growth in future, a deputy governor of the Bank of England has warned. Ben Broadbent, a senior policymaker at Threadneedle Street as the deputy governor for monetary policy, said that business investment plans that […]

Continue Reading

Purplebricks needs to conquer the UK before becoming a world leader | Nils Pratley | Business

A year ago, Purplebricks’ boast about being a “world-leading” competitor to traditional estate agents sounded cheeky, but not hopelessly so. The would-be UK disrupter had launched in Australia, Canada and the US. In doing so, it caught the eye of Axel Springer. The German publishing company snapped up an 11.5% stake for £125m in March […]

Continue Reading

UK growth likely to rise above 1.5% next year, says thinktank | Business

Britain’s growth rate will bounce back above 1.5% next year as ministers exceed existing public spending budgets to cope with an ageing population, a leading thinktank has said. The National Institute for Social & Economic Research (NIESR) said plans to ease austerity only slightly over the next five years were “unbelievable”. It added that government […]

Continue Reading

UK GDP report to show if growth stalled in February – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Today we discover how Britain’s economy performed in February, in the face of Brexit gridlock and weakness in the global economy. February’s GDP report is due at 9.30am today. City economists have a range of guesstimates, […]

Continue Reading

Shoppers avoiding big buys due to Brexit uncertainty – retailers | Business

Britain’s retailers have warned that Brexit uncertainty is holding consumers back from making bigger purchases, after a disappointing month for sales in March. The British Retail Consortium (BRC) and the accountancy firm KPMG said sales growth dropped to 0.5% in the year to March, down from an annual growth of 2.3% a year ago, as […]

Continue Reading

Birthrate crisis would require a whole new mindset on growth | Larry Elliott | Business

It was Europe’s deadliest ever import. A particularly virulent form of the bubonic plague travelled westwards from China across the steppes of Asia and ended up at Black Sea ports. As far as can be established, rats carrying diseased fleas were on ships that set sail from the Crimea to Mediterranean ports. Between 1348 and […]

Continue Reading

UK business investment suffers longest decline since financial crisis – business live

New GDP report shows that British bosses have cut back on buying new machinery and computers, as Brexit crisis hits confidence Latest: UK business investment has fallen for a year Households forced to borrow to make ends meet Balance of payments gap has widened English house prices are now falling 2.03pm GMT Better economic news […]

Continue Reading

Bank of England decision and UK retail sales loom – business live | Business

The Bank of England in the City of London. Photograph: Ben Stansall/AFP/Getty Images Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With Britain teetering on the brink of full-blown Brexit chaos, the Bank of England will today give its latest assessment of the UK […]

Continue Reading

Brexit or no Brexit, our real problem is failure to invest | Business

As we enter the dog days of article 50 negotiations, with the political heat rising to boiling point, MPs should stop a moment and consider what kind of Brexit catastrophe awaits the country. Brexit supporters argue that MPs’ information could be a little out of date. And it’s not just them. Listen to the governor […]

Continue Reading

UK economy contracts in December as pre-Brexit slowdown bites – business live | Business

“It is particularly worrying to see business investment contracting significantly again, as it will impact the UK’s longer term productive capacity as well as productivity performance, and points at a low vote of confidence from business in the UK’s future. The contraction in manufacturing, despite the relatively weak pound and while the UK economy is […]

Continue Reading