The International Monetary Fund (IMF) has slashed its forecasts for the UK economy next year, and claims last month’s referendum result has thrown a “spanner in the works” for global growth. (Financial Times – subscription required)
Despite the IMF slashing its forecasts for UK growth following last month’s referendum result, the British economy is still expected to grow faster than that of Germany, France and Italy next year. (The Telegraph)
Thousands of workers at Britain’s biggest tech firm, ARM Holdings PLC (LON:ARM), could share £300mln if Softbank’s takeover of the firm goes ahead. (The Times – subscription required)
After Lowcostholidays went in to administration earlier this week, holidaymakers affected by the budget tour operator’s collapse could receive less than £8 in compensation. (The Guardian)
Low-cost airline Wizz Air Holdings PLC (LON:WIZZ) says it will cut its planned UK routes because of the UK’s decision to leave the EU. (Financial Times – subscription required)
A committee of MPs has told BT that the firm is not investing enough in its Openreach division, and has said Ofcom should consider splitting up that side of the business if things don’t change. (The Guardian)
And finally, London’s most expensive apartment has gone on sale for a cool £150mln. The 12-bedroom home is in Admiralty Arch, just down the road from Buckingham Palace. (The Telegraph)