A woman carries shopping in a plastic bag, in London. Reuters/File
Britain’s economy unexpectedly shrank in the second quarter of the year on Brexit turmoil, official data showed on Friday, placing the country on the verge of recession and sending the pound tumbling to a 2.5-year low.
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.
Britain’s treasury chief on Wednesday announced an additional 65 billion pounds ($91 billion) of support for an economy ravaged by the coronavirus pandemic, extending job support programs and temporary tax cuts to help workers and businesses in his
China is set to unveil a new five-year plan and other socioeconomic targets for 2021 when its annual meeting of parliament, the National People’s Congress, begins on Friday. China expected to propose a hike in the military budget as tensions mount.
Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of carmakers planning to phase out fossil-fuel engines by the end of this decade. “I am totally convinced there will be no