The Financial Times report that the European Commission will tell firms to prepare for a no deal Brexit on October 31.

EU will say do not expect any help to cushion the impact of a no-deal Brexit. Companies should "take advantage of the extra time" to prepare.

  • The commission told a closed-door meeting of national officials last week that the probability of a no-deal exit had increased given the announcements made in the Tory leadership contest.

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