Major British businesses' appetite to take on financial risk has fallen to its lowest level in nearly a decade due to fears of "the hardest of Brexits" and rising US protectionism, a survey by accountancy firm Deloitte showed on Monday. Major British businesses' appetite to take on financial risk has fallen to its lowest level in nearly a decade due to fears of "the hardest of Brexits" and rising US protectionism, a survey by accountancy firm Deloitte showed on Monday. "Corporates are positioned for the hardest of Brexits, with risk appetite at recessionary levels and an intense focus on cost control," Deloitte's chief economist, Ian Stewart, said. Brexit was identified as the top risk, followed by trade wars triggered by US protectionism and broader weakness in British domestic demand. The Deloitte survey polled chief financial officers from major UK-listed companies with a combined market value of £390bn (€446bn), as well as UK subsidiaries of large foreign firms, between January 8 and January 24.

Source: Irish Independent February 04, 2019 07:52 UTC