BMW (ETR:BMW) said on Tuesday that it will pause production at its Mini factory in Oxford for two days following the nation’s departure from the European Union. With tensions rising over Brexit, the question remains – will the UK leave the EU with or without a deal on the day of the deadline? Nicholas Peter, the Chief Financial Officer, said that the Oxford factory will be closed on the 31 October and 1 November. “No-deal would mean that, most likely, [World Trade Organization] tariffs would be imposed from 1 November onwards,” Nicolas Peter said to the BBC at the Frankfurt motor show. “This would mean that we would most likely have to raise the prices of the products produced in the UK and shipped to other markets [in the EU],” the Chief Financial Officer continued. “The increase of price means an impact on the volume you sell, and would eventually lead to a reduction of produced cars in Oxford.” Production cuts will be the factory’s “first step” to cope as it would have to reduce its output. “But of course what’s extremely important is to use the weeks we have before 31 October to develop and implement a constructive Brexit solution,” Nicolas Peter added. Earlier in March, BMW announced that its profits for 2019 could fall by over 10%, in addition to pursuing a €12 billion cost savings and efficiency plan. With the Brexit deadline fast approaching, the only thing certain for the nation is additional uncertainty. At the end of August, news emerged that Boris Johnson planned to ask the queen to suspend parliament. This sparked a wave of backlash because it limits MPs’ ability to block a no-deal departure from the European Union. Shares in Bayerische Motoren Werke AG (ETR:BMW) were up 1.44% as of 15:42 CEST Tuesday.

The British Government will invest over £500 million in green technologies, news emerged on Tuesday. A £400 million fund has been announced to develop the UK’s electric vehicle charging infrastructure. The first £70 million is allocated for 3000 charge points, which will more than double the number across the UK to 5000. Rapid charge points are able to recharge a family car in 20 minutes – existing technology means that this can currently take 40 minutes. The government said that it hopes to make the reality of driving electric vehicles easier and more accessible for people across the UK. In addition to the fund, £142.9 million will be invested to combat air and water pollution and increase sustainability, supporting calls to tackle climate change. Back in June, the UK government became the first G7 nation to write into law a target for “net zero” emissions. “We are driving ahead with plans to make travel greener while backing British innovation and technology,” Exchequer Secretary Simon Clarke provided a comment. “I am delighted to announce this funding today that will more than double the number of rapid charge points for electric vehicles on our roads. Britain already boasts one of the biggest networks of charging infrastructure in Europe and soon we will have the fastest thanks to this investment,” Simon Clarke continued.

“This is the latest in our proud record on climate change –having slashed emissions by over 40% since 1990, whilst simultaneously growing our economy, and setting an ambitious target for net zero emissions by 2050.”

Business, Energy and Clean Growth Minister Kwasi Kwarteng said that the UK “has been going further and faster in tackling climate change by becoming the first major economy to legislate for net zero emissions by 2050 and helping us seize the opportunities of a greener future.” “With air pollution thought to kill as many as seven million people a year globally, it’s clear more needs to be done,” the Business, Energy and Clean Growth Minister added. Elsewhere in the battle to tackle environmental damage, Boots announced back in June that it would aim to remove all plastic bags from its stores by 2020. Likewise, McDonalds decided to remove plastic lids from its McFlurry ice cream in all UK restaurants from September, also attempting to align itself with more environmentally friendly policies

JD Sports (LON:JD) posted a 10% rise in UK like-for-like sales on Tuesday in its half year results, sending shares in the retailer up by over 5%. For the 26 weeks to 3 August, JD Sports revealed a like-for-like sales growth of over 10%, going against the well-reported high street gloom. Group revenue for the leading trainer and sports fashion retailer jumped by 47% to £2.72 billion, compared to the £1.85 billion figure recorded the year prior. JD Sports, who purchased its smaller UK rival Footasylum (LON:FOOT) in a £90 million deal earlier this year, said that Group EBITDA on a comparable accounting basis rose by 37% to £235.2 million, compared to £171.8 million from 2018. Reported profit before tax increased by 6.6% to almost £130 million, the results also show. JD Sports’ results defy the gloomy trading environment to have hit the UK high street. Over the past year, retailers have struggled to survive as job cuts and store closures prevail. “Against a backdrop of widely reported retail challenges in the UK, it is extremely encouraging that JD has delivered like for like sales growth of more than 10% with an improved conversion reflecting consumers’ increasingly positive reaction to our elevated multichannel proposition where a unique and constantly evolving sports and fashion premium brand offer is presented in a vibrant retail theatre with innovative digital technology,” Peter Cowgill, Executive Chairman, commented in a company statement.

“Notwithstanding the ongoing uncertainty with regards to Brexit, the Board is confident that, without the impact from the transition to IFRS 16, the Group would have been on track to deliver headline profit before tax for the full year at the top end of market expectations which currently range from £402 million to £424 million,” the Executive Chairman continued.

“However, after adjusting for the impact of the transition to IFRS 16, we would expect to deliver results at the mid-point of expectations. We remain encouraged by our prospects for further growth.”

The retailer had already revealed strong results back in April when it posted an increase in its annual pre-tax profit, beating the UK retail gloom and remaining confident amid Brexit. Shares in JD Sports Fashion plc (LON:JD) were up by 5.75% as of 11:01 BST Tuesday.

UK unemployment has not been at a lower level since the mid-1970s, according to new data released on Tuesday. According to the Office for National Statistics, the estimated UK unemployment rate dropped to 3.8%, and it hasn’t been this low since October to December 1974. The Office for National Statistics said that, for May to July 2019, the UK employment rate was estimated at 76.1%, above the 75.5% recorded a year earlier. “Estimates for May to July 2019 show 32.78 million people aged 16 years and over in employment, 369,000 more than for a year earlier,” the report said. “This annual increase has mainly been driven by more women in employment (up 284,000 on the year to reach 15.52 million). Male employment also showed an increase of 86,000 on the year to reach 17.26 million; this increase was driven by those who were self-employed.” Additionally, the data shows that the annual growth in average weekly earnings for employees in the UK, including bonuses, rose to 4%. Average total pay growth, including bonuses, varied by industry sector. Construction saw the highest estimated growth of 6.2%, whilst manufacturing saw the lowest growth, estimated at 2.4%. “The rate of pay growth has been trending upwards since mid 2017. In May to July 2019, that trend has continued for total pay, while annual growth in regular pay dipped by 0.1 percentage point when compared with April to June 2019,” the report continued. “The pattern of higher growth in construction and finance and business services, and lower growth in manufacturing and wholesaling, retailing, hotels and restaurants has been evident throughout 2019,” the Office for National Statistics said. The GBP/USD remained below 1.2350 despite the new employment data and rise in UK wages. The data comes as the nation approaches the extended Halloween EU departure deadline. With the deadline fast approaching, the only thing certain for the UK at this point is additional Brexit uncertainty. What will life outside of the EU hold for the nation?