Only four months to go until the UK leaves the European Union and Brexit is still a mystery.
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00:00Four months to go until the UK exits the EU and Brexit is still as mysterious as ever.
00:06Well, more than a mystery, it's a pain.
00:08That is according to a new government report that said that the UK's gross domestic product
00:13will be as much as 10.7% lower over the next 15 years if there is no orderly exit and if
00:19the supply of European workers going to the UK dries up.
00:23The report, however, does not discuss the economic impact of the latest Brexit deal
00:27that was signed between the UK and the EU just last week.
00:30In other news, WTI crude oil prices fell below $50 a barrel as concerns linger on about the
00:36weaker demand in the market as well as a glut of supply.
00:39US oil inventories also came out higher than expected yesterday, which pushed prices lower.
00:44And finally, in case you missed it, Virgin Hyperloop One said it expects to launch its
00:48first Hyperloop post-2026, so less than 10 years to go.
00:52We're not quite sure yet where the first Hyperloop will be.
00:55It will either be in India or the UAE.
00:57The company also denied a report that it had cancelled a $1 billion project in Saudi Arabia
01:03following the murder of journalist Jamal Khashoggi.
01:05The company said it continues to stress its plans to connect the GCC.
01:09This has been the Daily Business Trap.
01:11I'm Sarah Dia.
01:12Thank you so much for watching.