UK must rebuild trade relationship with EU, says BoE boss; China-US shipments slump – business live

Rolling coverage of the latest economic and financial newsChina exports beat expectations despite slump in trade with USReports that the US will have a veto over Chinese investment in Britain as a result of the UK-US trade deal are “complete nonsense”, Treasury minister Darren Jones has insisted this morning.The Telegraph reported that such a veto is part the deal, but Treasury minister Mr Jones told Times Radio:“This story on the front page of the Telegraph is complete nonsense. I mean, I’m at a bit of a loss as to know where it’s come from. I think it was a Conservative Party criticism.“But as you said, we’ve not even published all of the documents yet, so I’m not quite sure how they were able to come up with that.“It’s very important to have this piece of good news to take to the public and now that the Bank of England has cut interest rates they’re going to have positive headlines about people’s mortgages going down and this deal being done and that will help boost consumer and business confidence,But in terms of the broader economic impact this deal is really quite small.” Continue reading...

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