Britain will propose setting up an interim customs agreement with the EU after Brexit to allow the freest possible trade. But it will also seek the right to negotiate other trade deals, a possible sticking point.
U.S. credit card processing company Vantiv secured a deal to buy British-based rival Worldpay for 8 billion pounds ($10.4 billion) on Wednesday in a bid to create a $29 billion global payments powerhouse.
British consumer spending fell for the third month in a row in July in its longest losing streak in over four years, in another sign that the impact of last year's Brexit vote is rippling through to households.
British shops saw a dip in sales last month, with fashion retailers enduring their worst July for eight years, a BDO survey showed on Friday, adding to evidence consumers are cutting back spending on discretionary items.
Next showed it can still compete with nimble online rivals in Q2, but while its e-sales recovered, its retail stores struggled and its clearance was less successful than usual so it remains cautious for the second half.
The tourism boost UK fashion and luxury retailers have seen since the pound’s plunge year ago could be at risk with recent terrorist attacks having dented tourist visits to Britain, especially from long-haul countries.
UK consumer confidence has been relatively buoyant in recent periods given the dire warnings that had been issued before the Brexit vote. But in July, confidence dipped to a level last seen in July 2016.