A trade deal is essential if the UK’s £72bn-a-year car industry is to be saved, a trade lawyer has warned. Hosuk Lee-Makiyama, a former diplomat who has represented the EU at the World Trade Organisation, said Britain must urgently agree a trade deal similar to the one being negotiated between the EU and Japan or face having the motoring sector torn apart.
ITV is expected to announce this week that Dame Carolyn McCall is its new chief executive. Currently the chief executive of Easyjet, the 55-year-old is seen as the favourite to take over from Adam Crozier. She has been at the helm of the low cost airline for seven years. If confirmed, her appointment would mean that she was running the biggest FTSE 100 company of any female chief executive.
The UK’s business confidence is at lowest point for six years, say two leading forecasters. IHS Markit and EY Item Club said Britain’s economic growth will continue to weaken this year, as anxiety over Brexit and uncertainty over domestic political affairs bite. Inflation is expected to reach up to 3.3% this autumn – well ahead of the growth in average earnings.
Demand for gold bars and coins rose 9% globally in the first quarter of year, according to data from the World Gold Council. The Daily Telegraph says that London remains “at the heart” of the sector: in May alone, it cleared 20.8m ounces of gold in transactions worth $ 25.8bn. It also speculates that gold shops could be coming to a high street near you soon.
Academics say the government is “sleepwalking” into a post-Brexit future of “insecure, unsafe and increasingly expensive” food supplies, reports The Guardian. Written by food policy experts from three universities, the study says Britain has become complacent after decades of consistent food supplies and stable prices. “This is a serious policy failure on an unprecedented scale,” said one of the authors.
“This latest whitewash of the Southern Rail shambles by the government is hardly a surprise when they’ve been up to their necks in this fiasco right from day one.” RMT general secretary Mick Cash is unimpressed by the government’s £13m fine for the controversial rail operator.
FTSE 100: down -0.47 to 7378.39
Dow Jones: up +0.39 to 21553.09
Dax: down -0.08 to 12631.72
Cac 40: down -0.00 to 5235.31
Nikkei: up +0.09 to 20118.86
Hang Seng: up +0.53 to 26530.38
US dollar: buys €0.87200 and £0.76320
Sterling: buys $ 1.31040 and €1.14280
Oil: $ 49.01 up +1.2