The powerful lobby Confederation of British Industry, CBI has won a key confidence vote over its future after members overwhelmingly backed the lobby group following a series of scandals.
The UK risks crashing out of 40 trade agreements spanning five continents in the event of a no-deal Brexit, a business organization has warned. The Confederation of British Industry, CBI, said there were hugely damaging implications for the UK if it had to leave trade deals it has through its membership of the European Union.
Brexit is not a dominant issue for European Union countries, Chancellor of the Exchequer Philip Hammond acknowledged as he called for jobs and prosperity to be the first priority in the negotiations. The Chancellor told business leaders that the UK had to remember that Brexit was “just one among many challenges” facing the other EU members.
The Bank of England has kept interest rates on hold for August, and also held off from any more stimulus measures, as had been expected. Its rate-setting Monetary Policy Committee (MPC) has voted to maintain rates at the historic low of 0.5%.