appConfigEntityId

bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

hooksArticlePageAdvertisementConfigArticle

liveArticle

appConfig

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

sectionsV2

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

json

Agence France-Presse

Standard & Poor’s maintained Friday its rating for Britain, having removed its coveted ‘AAA’ status after the June 23 EU exit referendum, and warned again over the impact of Brexit.
S&P said in a statement that Britain’s assessment remained at ‘AA’ with a negative outlook, meaning that the agency could lower the rating in the medium term.
“In our opinion, Brexit presents a significant risk to the UK’s track record of strong economic performance, and to its large financial sector in particular,” S&P said.
“The Leave result has also led to a less predictable and stable policy framework for the UK.”
It added: “The outlook remains negative, reflecting the continued institutional and economic uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure.”

S&P also flagged uncertainty over the future of Britain’s membership of the single market.
“The recent decision to exit the European Union -- the destination for 44 per cent of the UK’s goods and services exports -- poses a potential risk to the UK’s national income, as well as its fiscal and external balances,” it said.
The agency added: “It is not clear if the EU will permit the UK access to the single market on existing tariff-free terms, or impose tariffs on UK products.
“Further arrangements regarding the export of services, including by the UK’s important financial services industry, are even more uncertain, in our view.”
Another Brexit blow: S&P and Fitch downgrade UK’s credit score amid referendum turmoil
Despite Brexit fears, official data showed this week that the British economy powered ahead in the third quarter with stronger-than-expected growth.
Gross domestic product expanded by 0.5 per cent in the third quarter.
Although a slight slowdown compared with growth of 0.7 per cent in the three months to the end of June, when Britain voted in a referendum in favour of exiting the European Union, it beat analysts’ consensus forecast for GDP growth of 0.3 per cent.


In China at a time of geopolitical flux, I feel right at home

Starmer urges Europe to deepen interdependence amid Trump threats

Britain’s surging Reform UK party draws big-name Tory defector

UK rejoins Erasmus student exchange programme in post-Brexit reset under PM Keir Starmer

Brexit

S&P confirms British rating while warning of dangers from Brexit

Pedestrians carrying shopping bags in Oxford Street in London on October 27, 2016. Britain's economy won a double boost on October 27 on news of faster-than-expected growth following its vote for Brexit and a pledge by Nissan to build new car models in the UK. Gross domestic product expanded by 0.5 percent in the third quarter, official data showed. / AFP PHOTO / Daniel Leal-Olivas

Pedestrians waling through Waterloo Bridge with the skyline of the City of London in the background. Photo: AFP

Business

Money

Markets & Investing