In this week’s commercial news round-up, the gloomy first six months for the UK high street is set to continue and Jaguar Land Rover has issued a warning regarding Brexit. The Bank of England’s governor has said that the US would be hardest hit should tariffs continue to rise and Ryanair is facing more strikes from its staff. In other news, the UK economy could get a huge boost should the England team make it to the World Cup final.
According to a survey conducted by advisory firm BDO, high street sales fell for a fifth month running in June. The data suggests that the first six months of 2018 have been the worst for bricks and mortar retailers in more than a decade with “no sign of abating”.
The Jaguar Land Rover boss has warned that a “bad” Brexit would prevent the company from investing heavily in the UK and may be forced to close factories. Plans for £80bn investment would be “in jeopardy”.
The governor of the Bank of England, Mark Carney, has warned Trump that the US will come off worst if the escalation of trade disputes continues. He said that US growth could be hit twice as hard in comparison to the rest of the world.
Following the news of strikes by Ryanair pilots scheduled for next week, cabin and ground crew could join them after the slow progress made by the company to improve employees’ terms.
The UK economy has already been enjoying a boost due to England’s success so far in the World Cup. However, the Centre for Retail Research has predicted that the economy could be boosted by £2.7bn if England reaches the final.
