European Union warns UK of abrupt cut-off of businesses!

EU Commission President Jean Claude Juncker.

• European Commission president Jean-Claude Juncker said a disorderly Brexit would be an "absolute catastrophe".

Britain published proposals on Wednesday for EU immigration curbs after Brexit as business groups warned the UK economy was not ready for the country to crash out of the bloc with no divorce deal in place. The proposals include a temporary work visa system similar to "guest worker" systems in other countries as well as a consultation on a salary threshold for workers who would be allowed to settle in Britain.

The European Union also on Wednesday said it was adopting backup plans in case of a no-deal Brexit, while Prime Minister Theresa May faced another barrage of criticism in parliament for delaying a critical vote on her withdrawal deal.
With just 100 days until Brexit, the EU's executive cautioned that most banking, insurance and other financial firms in Britain would be cut off from the European Union if there is no divorce deal.

European Commission president Jean-Claude Juncker said a disorderly Brexit would be an "absolute catastrophe".

The world's biggest corporates, ranging from Apple and Toyota to JP Morgan and Goldman Sachs, have cautioned that Brexit could complicate their businesses.