U.K. Business Says Brexit Already Having a Negative Effect

A new report by Bain & Company warns that disruptions to supply chains could cut the profits of key British industries by as much as 30 percent if Brexit ends up resulting in World Trade Organization tariffs, a falling pound and costlier labor. Retailers, car manufacturers and technology companies are the most at risk although industries such as aerospace or pharmaceuticals could benefit due to the pound’s depreciation and tax cuts.