For over a decade, manufacturer Matsutek plied away at building its business with big Western brands, supplying firms such as Philips and Honeywell with products made in its Chinese factories for the US and other overseas markets.
South Korea’s Financial Services Commission said it will give ‘swift and sufficient’ financial support to companies affected by Japan’s export restrictions in an effort to limit the impact on the economy.
Kang Dong-wan, the head of an electronic goods supplier for South Korea’s biggest global brands, said it feels like Asia’s fourth-largest economy is in a recession as business conditions have deteriorated further after a tough 2018.
Nearly a third of UK firms may shift their operations abroad because of Britain’s pending departure from the European Union, a survey of 1,200 company directors suggested Friday, as the political stalemate over a Brexit deal heightened jitters among businesses.
British firms are ‘praying for an extension to article 50’ rather than face a no-deal Brexit as it emerged that foreign investment has fallen steeply and the outlook for growth has slumped to a six-year low.