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British pound (i.e. devaluation)

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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.
“You bring Brexiters on, you never challenge them. You let them talk utter rubbish about Brexit. Year after year after year.”
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.
In historical terms, however, those transgressions will end up being little more than footnotes. Viewed from afar, Johnson’s greatest failing is liable to be what he hoped would be his glorious legacy: Brexit.
Brexit has added to the UK's economic woes by lowering the value of the pound and contributing to price rises, an ex-Bank of England governor has said.
The pound has settled above its recent lows vs. both the USD and the EUR, but it remains in a clearly weakened positioned. EUR/GBP is still seen at 0.85 by year-end while UK politics concerning the issues of Brexit and sleaze may impact the performance of the pound, economists at Rabobank report.
US brands Gibson and Fender increase list prices as double digit hikes hit music stores
A year after Britain left the European Union, you could be forgiven for thinking the current economic gloom has nothing to do with Brexit, and everything to do with Covid.
Economist Duncan Weldon and the New Statesman’s polling expert explore how Brexit and austerity have damaged the UK economy and set the stage for Liz Truss’s “mismanagement.”
Brexit has delivered a £11.5 billion blow to the UK’s trade in goods since the 2016 referendum, a leading think tank said today.
Real household incomes have fallen by 0.5 per cent over past two years amid pound’s slide and welfare cuts.
In reality, Brexit has hobbled the UK economy, which remains the only member of the G7 — the group of advanced economies that also includes Canada, France, Germany, Italy, Japan and the United States — with an economy smaller than it was before the pandemic.
Central bank reserve managers signal reluctance to hold sterling after UK leaves EU.
Immediately after the referendum, sterling depreciated. This brought forward the impact on household incomes of what would otherwise be a slow burn change for the UK economy.
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.
Yes, that headline is correct. The UK’s trade performance this year fell to its worst level since records began in 1955. And the cause, according to analysts and a headline article in the FT today – Brexit.
The UK will be stuck with searing inflation for years because of Brexit, according to strategists at Wall Street’s top banks.
Boris Johnson’s government faces deep economic problems. / UK lagging behind major peers on productivity and investment. / “... From a 16% devaluation of the pound to an eye-watering slide in trade and investment, Brexit’s impact is plain to see. The data have only reinforced our view that life outside of the EU would leave the UK worse off.”
Retirees suffer ‘real hardship’ and fear Brexit will impoverish them further, says Jeremy Morgan QC
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.
The pound’s slump shows little sign of ending amid the ongoing story of dollar strength as well as concerns about UK economic policy. The latest leg down has taken its decline so far this year to 17%, surpassing the 16% loss it suffered in 2016, when the country voted to leave the European Union.
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.
BRITTANY Ferries has reported some of the worst passenger numbers in its history, after being battered by the 'double strike' of Brexit and Covid.
Falling value of pound contributes to UK drivers paying up to £98 more per month for cars.
Former Bank of England governor Mark Carney has doubled down on his claims Brexit has taken a toll on the pound and sparked higher inflation.
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.
Higher yields are helping the U.S. currency; not so for sterling, which is coming adrift from the developed world entirely.
The UK government has announced a ban on some drug exports to protect NHS patients' access to medicines.
High inflation, low investment confidence and a weaker currency make the UK an attractive target for European suitors.
Former Bank of England governor, Mark Carney said that the fall in the pound and shrinking economy after the UK left the European Union, Brexit, had added to “inflationary pressure”.
‘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.
'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”.
The economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine. Now the effects have become clear.
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.
THOUSANDS of construction workers are needed in Scotland, according to new figures from the Construction Industry Training Board (CITB).
Hong Kong stocks plummeted on Friday as the UK voted to leave the European Union.
'...my self-imposed task of documenting the Brexit impact has become a challenge not so much because of the difficultly of weighing up the positives and the negatives, but rather due to the sheer amount of damage Brexit is doing up and down the country, left, right and centre, and across sectors.'
I have started reading the Brexit literature again. A recent paper – ‘What impact is Brexit having on the UK economy?’ by Graham Gudgin, Julian Jessop and Harry Western (GJW) from October 2022 argues there is no hard evidence of harm and that studies that claim to find harm are biased and/or incompetent! In this blog, I consider a few of their points in four areas.
Brexiteer MP overheard talking about markets on night of 2016 referendum vote. / Chancellor Kwasi Kwarteng reportedly said “who cares if Sterling crashes” in the immediate aftermath of the Brexit referendum result in 2016.
"I am very fearful for Britain on the path that it is travelling." / Former US Treasury Secretary Larry Summers says Brexit and Liz Truss’s extreme tax cutting is turning the UK into a “submerging market”.
Ex-US Treasury chief fears for UK becoming ‘submerging market’. / “Between Brexit, how far the Bank of England got behind the curve and now these fiscal policies, I think Britain will be remembered for having pursuing the worst macroeconomic policies of any major country in a long time.”
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.
Almost seven years on from the Brexit referendum, there remains uncertainty over the future UK-EU relationship. Reflecting on the lessons from the last seven years, Neil Kinnock argues there remains a clear case for the UK being an economic, political, social, scientific and cultural part of the Europe of the future.
Former PM’s disastrous tax-cutting plan piled an extra £91m on the UK’s payments to the bloc, Treasury documents show.
The value of sterling against the dollar has fallen by about 18 per cent since the UK voted to leave the EU in June.
‘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 slid today after EU’s chief negotiator, Michel Barnier, warned that a trade deal between the EU and UK was slipping away.
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.
The pound rebounded from a one-week low after the U.K. signaled it will continue Brexit trade talks beyond Prime Minister Boris Johnson’s Oct. 15 deadline.
Sterling has lost two cents against both the euro and dollar amid City fears of no deal.
‘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 FTSE 100 fell by 1% to 6,526 after Boris Johnson said a no deal scenario was ‘very, very likely’
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.
THE pound has fallen to its weakest level against the US dollar since 1985 amid fears the UK is heading for a lengthy recession.
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.
Economists at ING note that the Pound could thrive in the long term as the Labour party leader aims to rebuild good trade relationships with the bloc.
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.
Sterling's drop at the time of former British Prime Minister Liz Truss's failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund Brexit divorce bill payments to the European Union, paid in euros, new figures show.
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.
This week I was contacted by a retired CEO of a major wine wholesaler. They, unbeknownst to me, had asked their local MP John Penrose (Weston-super-Mare, Somerset) if he thought it was acceptable that my wine business had been obliged to open a site in the EU to mitigate Brexit costs.
Why does the newspaper continue to publish Larry Elliot’s Corbynite nonsense on the EU?
The spectacular collapse of the pound against the US dollar has shattered the illusion that Britain is entitled in perpetuity to special status among the world elite.
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.
It’s five years since Britain voted to leave the EU – so what number should really have been on the side of the Vote Leave bus? Ben Chu examines the real impact of Brexit on the UK’s 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.
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...
THE Tories, by the time sterling hit an all-time low of $1.0327 on Monday, had from their political driving seat seen a fall of nearly one-third in the pound’s value against the greenback since June 23, 2016.
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.
Pound Sterling exchange rates at a crossroads: JP Morgan and BNY Mellon warn fading UK vaccine advantage, UK break-up risks also in focus.
Although the pound is losing value, exports are lagging. Bureaucratic hurdles also paralyze trade. Brexit is a catastrophe in other respects too.
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.
Former Bank of England policymaker Adam Posen insists 80% of high price growth is due to Britain leaving EU.
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?
In the US they call it ‘starving the beast’ – cut taxes and, as revenue decreases, you create irresistible pressure for austerity.
UK capital markets have been described as a ‘backwater’ in the years since the 2016 Brexit referendum, with foreign investors averse to the extra risks and headwinds - and potential lack of reward - on offer in the wake of the country’s departure from the trading bloc.
Obwohl das Pfund an Wert verliert, hinkt der Export. Bürokratische Hürden lähmen den Handel zusätzlich. Auch sonst ist der Brexit eine Katastrophe.
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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◈ trade ×27
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