Britain’s economy unexpectedly shrank in the second quarter of the year on Brexit turmoil, official data showed on Friday.
Britain’s economy picked up more than expected in July, data showed on Monday, dampening fears that it will succumb to its first recession since the financial crisis as the Brexit crisis escalates.
An indicator measuring expectations for the next three months was the strongest since October last year at +9%.
Britain should delay Brexit beyond Oct.31 rather than leave the European Union (EU) without a deal, which would be particularly harmful to large carmakers, the head of the sector’s industry body told Reuters.
As the UK reshapes its future trade policy during the post-Brexit transition period, the UAE — UK’s largest export market in the Middle East and the 13th biggest globally — has become one of its first trade allies to reaffirm its commitment in trade relations.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.