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The Confederation of British Industry has said that businesses are in ‘despair’ over Brexit and have already diverted hundreds of millions of pounds in investment out of the UK.
Richard Branson has told the BBC he was “absolutely certain” that leaving the EU without a deal would lead to the closure of “quite a few British businesses”.
The UK’s big four auditors will next week face an unprecedented move to limit their market share following a two-month market study. However, it will stop short of demanding a full-break-up of the dominant quartet; Deloitte, EY, KPMG and PwC.
Stocks worldwide tumbled on Friday after weak economic data fanned concerns of a global economic slowdown.
The UK and the US have agreed the text of an agreement that will ensure that their insurance and reinsurance sectors can continue to trade freely with one another after Brexit.