Brexit: No deal would cost UK, EU companies 58 billion pounds - report - Reuters

The EU and UK companies will lose an extra £58 billion if there is a no-deal Brexit, according to the report by Oliver Wyman management consultants and law firm Clifford Chance. 

Key points (source: Reuters)

Firms across the EU's 27 countries other than Britain will have to pay 31 billion pounds a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal.

British exporters to the EU will have to pay 27 billion pounds a year.

These increased costs and uncertainty threaten to reduce profitability and pose existential threats to some businesses.