UK survey shows business leaders cutting back on investment

LONDON — A British business association says company directors are holding back on investing in staff and technology amid uncertainty about political changes ahead of the country's departure from the European Union.

The Institute of Directors says Friday that half of the 900 directors surveyed said economic conditions in the U.K. and the uncertain trading status with the EU were hurting their businesses.

Chief economist Tej Parikh says the nature of Brexit is "still ambiguous" and with another shake-up of key government personnel in motion, businesses are hesitating "to the detriment of U.K. productivity growth."

Foreign Secretary Jeremy Hunt and former London Mayor Boris Johnson are competing to replace Prime Minister Theresa May, who is quitting as leader of the Conservative Party and the country after Parliament rejected her Brexit deal.

Related News

Apple boss Tim Cook optimistic about UK's future...

Feb 9, 2017

Apple CEO Tim Cook says the company the technology giant is committed to Britain's future outside...

Apple's Tim Cook: Fake news is 'killing people's...

Feb 11, 2017

Apple chief executive Tim Cook says fake news is "killing minds," and governments and tech firms...

Yahoo issues another warning in fallout from...

Feb 15, 2017

Yahoo is warning users of potentially malicious activity on their accounts between 2015 and 2016

Epic 'Planet Earth II' offers creatures'-eye view...

Feb 16, 2017

From jungles to deserts to mountains, the BBC's epic nature series "Planet Earth II" takes viewers...

Uber to investigate sexual harassment claim by...

Feb 20, 2017

Uber's CEO has ordered an investigation into a sexual harassment claim made by a female engineer...

The dirty dozen: UN issues list of 12 most...

Feb 27, 2017

The World Health Organization has issued a list of the top dozen bacteria most dangerous to humans,...

Sign up now!

About Us

NextNewTech is a fresh online media collaboration, aimed at bringing you not only the latest tech and gadget news, but how it’s going to change our lives in the near future.

Popular News