Brexit Deal Too Late to Stop Some EU Firms From Moving Business
- Companies with U.K. suppliers have shifted operations: report
- Some firms have increased their prices to cover Brexit costs
UniCredit's Erik Nielsen Says Brexit Is Negative for All, But More So for the U.K.
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The U.K.’s transitional agreement to smooth its departure from the European Union is too late to stop some of Brexit’s fallout.
Nearly one in seven EU companies with U.K. suppliers have moved some of their business out of Britain, according to the Chartered Institute of Procurement & Supply. Almost a third of U.K. businesses with suppliers from the bloc have increased prices as a result of Britain’s 2016 vote to leave, the group said in a report published Tuesday.