tag: £ ×71
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.
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.
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.
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.
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.
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.
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.
'Would we have won without immigration? No. Would we have won without...the NHS? All our research and the close result strongly suggests no. Would we have won by spending our time talking about trade and the single market? No way'
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%
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”.
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.
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.
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.
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.
If no-deal Brexit goes ahead, the pound could be worse than a US dollar, exceeding the current record lows.
The pound is already under pressure from fears that Britain will fail to clinch a trade deal with the European Union by the end-2020 deadline.
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.
‘We believe sterling is in the process of evolving into a currency that resembles the underlying reality of the British economy: small and shrinking,’ say Bank of America currency analysts
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.
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.
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.
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...
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.
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?


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