The arctic weather that struck Britain yesterday could cost the UK economy about £1.2bn, piling further difficulty on firms already struggling in the recession, the Guardian reports. The Federation of Small Businesses estimated that one in five commuters did not get to work, leaving many companies with a reduced staff. Some shops and bank branches were shut.
The arctic weather that struck Britain yesterday could cost the UK economy about £1.2bn, piling further difficulty on firms already struggling in the recession, the Guardian reports. The Federation of Small Businesses estimated that one in five commuters did not get to work, leaving many companies with a reduced staff. Some shops and bank branches were shut. In the City many dealing rooms were half-empty, and trading on the stock market was thin. Trader David Buik of BGC Partners described it as "moribund", comparing it with the mood on Christmas Eve. In the circumstances, some City worke...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
