tag: £ ×67
British pound (i.e. devaluation)
VisitBritain confirms slowdown of visitors from EU due to Brexit uncertainty. / A Brexit pledge that Britain would “out-compete other major tourism destinations” has fallen flat, with inbound travellers’ spending falling sharply in 2018.
13 automotive #Brexit myths – busted (SMMT) 03/06/2019
Apple is pushing up the price of apps by 25 per cent to make up for the plunging value of the pound.
Heineken and Carlsberg follow makers of Carling and Budweiser in hiking cost of their beers in face of weak pound
Birds Eye fish fingers and Walkers crisps are asking supermarkets for price rises of up to 12%, in the latest standoff between household brands and retailers over the dramatic fall in the value of the pound.
The surging price of bitcoin could reach record highs in the coming months if the UK leaves the European Union without a deal, according to some cryptocurrency analysts.
US brands Gibson and Fender increase list prices as double digit hikes hit music stores
Brexit has contributed to far bigger fall in living standards than 1990s recession, research finds 17/07/2019
Real household incomes have fallen by 0.5 per cent over past two years amid pound’s slide and welfare cuts.
The five key metrics are not pointing to anything good.
Central bank reserve managers signal reluctance to hold sterling after UK leaves EU.
New research carried out by Tourism Ireland has found that a growing number of people in Britain are booking their holidays later and will take fewer short breaks than normal in the next 12 months because of Brexit.
From the outside, nothing much has changed yet. From the inside, however, the UK has undergone a radical and at times ugly transformation. The June 2016 referendum has helped set off a chain of events that has impacted many aspects of life in the country.
GDP shows negative growth for first time in nearly 7 years.
Retirees suffer ‘real hardship’ and fear Brexit will impoverish them further, says Jeremy Morgan QC
British pensioners in France and Spain face more struggle as pound slides to two-year low 31/07/2019
As the British pound continues its fall against the Euro many headlines have focused on holidaymakers getting less spending money - but for people in France and Spain with an income from the UK, the situation is a lot more serious.
Currency has dropped 1.5% over past two trading days, and has flirted around the $1.30 mark
Currency exchanges from sterling to euros surge for three months in a row.
Falling value of pound contributes to UK drivers paying up to £98 more per month for cars.
As the possibility of a no-deal Brexit scenario increases, and the government publishes its “no-deal preparedness” notices, it is worth taking stock of the sheer variety of problems that would arise with a no-deal Brexit – and the devastating consequences that would arise from such a legal limbo. Here’s what we know so far.
Crispin Odey Is Shorting the Pound Again 18/02/2019
Hedge fund manager Crispin Odey, an advocate of Brexit, renewed his hotly debated wager against the British pound as U.K. lawmakers’ failure to agree on the divorce terms heightened concerns the country may crash out of the European Union without a deal.
The UK government has announced a ban on some drug exports to protect NHS patients' access to medicines.
‘They are shorting the pound and the country’ warns Nick Macpherson of Boris Johnson’s hedge fund supporters.
Boris Johnson, the front-runner to be Britain’s next prime minister, has raised the prospect of a shock for the world’s fifth-biggest economy by pledging to leave the European Union on Oct. 31 without a transition deal if necessary.
He was booed in Scotland. In Wales, a chicken submitted to his embrace, but politicians held him at arm’s length. And in Northern Ireland, there were rumblings of Irish unity — which could only come at the expense of its ties to the rest of the United Kingdom.
Sharp fall in pound since EU referendum feeds into big rise in food prices with butter up 15%, fish up 8% and tea up more than 6%
Food prices will go up, not down, after a no-deal Brexit – despite what Jacob Rees-Mogg says 07/01/2019
Could Brexit mean cheaper food on our supermarket shelves? The idea has been propagated by politicians such as Jacob Rees-Mogg and business people like JD Wetherspoon’s owner Tim Martin, who promised lower prices in his “Beermat Manifesto”.
UK-listed firm is latest to be targeted by a foreign buyer since pound weakened amid Brexit fears.
Hedge funds hired pollsters and cashed in, according to Bloomberg's Cam Simpson, who's been investigating the collapse of the pound of the night of the Brexit referendum.
Hong Kong stocks plummeted on Friday as the UK voted to leave the European Union.
Labour Demands Probe Over Claims Financial Backers Of Boris Johnson Stand To Profit From A No-Deal Brexit 28/09/2019
It comes after a searing article by former chancellor Philip Hammond about the PM.
Prices of Lego will rise in Britain in the new year, the Danish company has confirmed. Lego Group is increasing its prices in response to the pound’s decline in the aftermath of the EU referendum.
The value of sterling against the dollar has fallen by about 18 per cent since the UK voted to leave the EU in June.
Millions of apples left to rot in UK as Brexit uncertainty worsens EU fruit picker shortage 21/10/2019
‘The level of food waste is morally reprehensible,’ says National Farmers’ Union chair.
Childrenswear and maternity retailer says it plans to increase price of clothing and toys by up to 5% this summer.
Pharmaceutical industry leaders want a temporary ban on drugs exports to prevent the NHS being hit by shortages in the event of a no-deal Brexit.
First Minister announces 'biggest campaign on the economics of independence' in party's history.
Boris Johnson downplaying economic risks for political gain, say bank’s economists in scathing assessment of government’s strategy and its impact
Britain's Prime Minister Boris Johnson will suspend Parliament for more than a month before Brexit, enraging opponents and raising the stakes in the country's most serious political crisis in decades.
The increases would come from hefty tariffs on imports and the cost of increased border checks on food coming into the country.
If no-deal Brexit goes ahead, the pound could be worse than a US dollar, exceeding the current record lows.
The pound dived to a near six-month low against the dollar on Monday as concerns grew that arch-Brexiteer Boris Johnson will replace Theresa May as prime minister as he remains far ahead of his rivals in the race to lead their ruling Conservative Party.
It came after the pound slid to a three-year low on Tuesday as investors braced themselves for a turbulent day in Westminster.
Sterling has lost two cents against both the euro and dollar amid City fears of no deal.
Pound To Dollar Exchange Falls To Lowest Rate In Almost Three Years As Uncertainty Over Brexit Intensifies 03/09/2019
The pound fell to its lowest level since October 2016.
The currency plunged to 93.26 pence against the euro in the late hours of Sunday, the lowest it has been since October 2009, when the financial crisis gripped Britain.
Sterling rallies as PM’s grip on power slips.
Premier Foods joins companies seeking to offset weakness of sterling, after Unilever’s row with Tesco over Marmite prices.
The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".
Supermarket moves to ditch promotions coupled with weakened pound following Brexit vote add average £21.31 to quarterly food bills.
Party members backed plans to scrap the pound after an independence vote.
Sterling jumped 1% against the dollar on Wednesday to trade above $1.22 for the first time since Aug. 30, after British lawmakers seized control of the parliamentary timetable to try to block a no-deal Brexit.
STERLING took a hit today as currency traders digested the latest economic figures which suggest the chance of the UK falling into recession is rising.
Political chaos in UK causing extreme market uncertainty. / Sterling fell on Wednesday and was on track for its longest ever losing streak against the euro though it recouped some of its earlier falls in reaction to a Sky News report that UK prime minister Theresa May was about to resign.
Sterling would weaken considerably against both the dollar and euro if Britain left the European Union without a deal, according to strategists in a Reuters poll, with many saying the pound could reach parity with the common currency.
Private polls—and a timely ‘concession’ from the face of Leave—allowed the funds to make millions off the pound’s collapse.
The UK economy is 2.9 per cent smaller than it would be ... model also shows that the biggest victim of the Brexit vote has been business investment, while the weaker pound has failed to foster the big gains in exports that some Brexiters hoped for.
Rachel Johnson reveals her suspicion that Boris Johnson's behaviour may down to pressure from investors who have invested billions in shorting the pound and the economy.
How has the Leave vote affected the UK economy, ask Swati Dhingra and Thomas Sampson (LSE) in this second of two blogs based on the CEP Election Analysis briefing on Brexit.
Tim Martin on Question Time - taken apart 01/12/2018
A few days back, Tim Martin appeared on Question time. A 1-min clip of his performance has gone viral on Twitter. So error-packed was that one minute, that we should take the time to dissect it to bits...
Travel firm All Leisure Holidays ltd goes bankrupt cancelling 7,000 holidays and leaving 400 stranded abroad 05/01/2017
Chairman Roger Allard said the company went under following unrest in North Africa and the Middle East and Brexit which saw the pound hammered against the dollar and the euro.
UK economy shrinks amid Brexit uncertainty 09/08/2019
The contraction was the first since 2012 and comes ahead of the UK's planned exit from the European Union. Chancellor of the Exchequer Sajid Javid promised the "fundamentals of the British economy are strong."
Britain risks slipping from being the world’s fifth-biggest economy to its seventh-largest next year, when it is due to leave the European Union, with France and India on course to overtake it, accountancy firm PwC said.
Theresa May's Brexit deal has been defeated by MPs and the UK is creeping closer to leaving the EU without a deal. But how does a no-deal Brexit actually affect you?
The big drop mid-2016 is the aftermath of the referendum.
The big drop mid-2016 is the aftermath of the referendum.
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