The British economy may be in the doldrums, but London remains a magnet for international fashion brands and American tourists, writes Imran Amed.

At an event organised by prime minister Rishi Sunak’s government, Gerry Murphy criticised the 2020 decision to end the UK’s tax-free shopping program and called Bexit a ‘drag on growth.’

Public sector net borrowing hit $68.7 billion in May, with experts warning of rising unemployment and no guarantee of a strong rebound.

Almost half of British companies expect to furlough 50 percent or more of their workforce, according to a survey, meaning reliance on a government scheme that will pay up to 80 percent of employee wages.