Monday, 6 February 2017

British firms suffer Brexit impact as German factory orders soar – business live

New article from your b rule in Inoreader
Via Network Front | The Guardian by Graeme Wearden

All the day's economic and financial news, as half of UK bosses report that their firms are suffering from the vote to leave the EU

8.19am GMT

The Brexit vote is also going to drive up prices in the shops this year.

A majority of firms surveyed by the British Chambers of Commerce are planning to hike prices in 2017, due to the slump in the pound last year.

"The depreciation of Sterling in recent months has been the main tangible impact that firms have had to grapple with since the EU referendum vote.

"Our research shows that the falling pound has been a double-edged sword for many UK businesses. Nearly as many exporters say the low pound is damaging them as benefiting them. For firms that import, it's now more expensive, and companies may find themselves locked into contracts with suppliers and unable to be responsive to currency fluctuations.

Majority of firms say they will hike prices after pound slump https://t.co/9tDc4gT8qr

8.05am GMT

More than half of Britain's biggest companies are now suffering from the public vote to leave the European Union last June.

A new survey of business leaders found that 58% said the Brexit vote was already having a negative impact on their firm. Just 11% said it had helped business.

According to respondents there is no sign that this is likely to ease this year, with two thirds saying they thought their business situation would get worse in the next 12 months.

FT UK:Brexit already having negative effect, say big business leaders #tomorrowspaperstoday pic.twitter.com/XPU2TB4HKk

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