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The governor of the Bank of England has warned the cabinet that the impact of a no-deal Brexit could be catastrophic as the financial crisis that crippled the UK economy a decade ago.
The lira has risen against the dollar after Turkey’s central bank hiked interest rates to 24% in the bank’s latest attempt to stem the currency’s collapse.
Britain’s top share index tracked higher European markets on Friday with the mood buoyed by easing trade worries.
Jim Hagemann Snabe has said that trade tensions could negatively affect global growth and that would cause a ripple effect on the economy, particularly in developing countries.
Just one in ten insurers with less than $1bn in premiums worldwide have started the design or implementation phase for incoming accounting standard IFRS 17, according to a report from KPMG.