British firms are facing higher shipping costs and delays of up to four weeks due to Houthi attacks in the Red Sea, according to a survey from the British Chamber of Commerce (BCC). More than a third of firms admitted the situation, but the figure rose to more than half among exporters responding to the survey, which the BCC said could lead to higher prices in the UK economy overall.
British media is reporting that a new business lobby group has been formed, boasting some of the UK's largest companies as its founding partners. The Business Council has been launched by the British Chambers of Commerce (BCC) in a bid to design and drive the future of the British economy.