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UK Prime Minister Reassures Business Leaders Over Brexit

British prime minister Theresa May took pains on Friday (19) to reassure more than 130 British business leaders that her government would deliver frictionless trade with the European Union after Brexit.

May's conference call with representatives of firms ranging from the accounting firm EY to the retailer Tesco came after a summit in Brussels this week produced no tangible progress.


Her office said May acknowledged in her call that there were "a few significant issues that were still outstanding" in the Brexit talks.

London and Brussels cannot agree on how to keep the border between British-ruled Northern Ireland and EU-member Ireland open after Britain leaves the bloc in March.

The Downing Street statement said May "recognised the importance of these discussions for businesses, their supply chains and clients".

May "urged businesses not to lose sight of the prize that of a smooth trading relationship with the EU alongside the ability to seek new opportunities and open up new markets with trading partners around the world", her office said.

 Agence France-Presse

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Asda sales plunge, chair blames government of low confidence

The supermarket struggled with technology issues during a lengthy effort to separate IT systems from former owner Walmart.

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Asda reports sharp sales fall, chair blames government for 'killing consumer confidence'

Highlights

  • Asda sales fall 3.8 per cent to £5.1 bn in three months to September, with comparable store sales down 2.8 per cent.
  • Chair Allan Leighton blames IT system problems from separating technology from former owner Walmart.
  • Leighton criticises government for hampering business investment and depressing consumer sentiment.
Asda has reported a sharp sales decline while criticising the government for "killing confidence" among consumers, though its chair admitted "self-inflicted" technology problems had set back turnaround plans by six months.

Total sales at Britain's third-largest supermarket fell 3.8 per cent to £5.1 bn in the three months ending September compared with the same period last year, reversing 0.2 per cent growth from the previous quarter. Comparable store sales dropped 2.8 per cent.

Chair Allan Leighton, who returned last year to revive the business for a second time, told the guardian that the fall in sales and market share was "totally self-inflicted." The supermarket struggled with technology issues during a lengthy effort to separate IT systems from former owner Walmart.

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