Business pessimism, pensions, tax credits and online banking

UK financial services firms are becoming more pessimistic about their prospects in the wake of the Brexit vote, an industry survey suggests.

Optimism fell for the third consecutive quarter according to the CBI employers group. It is the sector’s longest period of falling sentiment since 2009 – in the midst of the financial crisis. The survey of 115 companies found low interest rates and potential restricted EU market access were seen as risks. But while 28 per cent of the respondents were gloomier, 15 per cent were more optimistic. And almost 40 per cent of the firms surveyed reported healthy profits in the last quarter. Meanwhile, Sterling is trading near a five-week low as lingering worries about Brexit prompted investors to sell the pound.  The currency was knocked late on Thursday after Foreign Secretary Boris Johnson said he expected Article 50 to be triggered early next year – a claim later denied by Downing Street. Pensions The cost of running generous pension schemes at Britain’s biggest firms is set to double to an unaffordable £14 billion-a-year over the next three years, according to a warning from a retirement consultancy.