Confederation of British Industry (CBI), Britain's main business lobby group, is mulling a name change after facing serious allegations of rape, sexual harassment and bullying.

Confederation of British Industry (CBI), Britain's main business lobby group, is mulling a name change after facing serious allegations of rape, sexual harassment and bullying. Rain Newton-Smith, the new CBI boss said the rebranding was necessary and part of promised “root and branch” reform of the organisation. “Personally, over time, I’m sure we’re going to see a new name for the CBI, but that’s just the wrapper that goes on the outside. What matters is what we do, what we deliver and our purpose,” Newton-Smith was quoted as saying by the Financial Times. The new CBI boss took the reins on Thursday and has been given a month by the board to work up a proposal for the group's future. WATCH | UK PM Rishi Sunak's popularity rising within the conservative party × “The CBI that emerges from this is not going to be the CBI of the past, that is clear. It needs to be a new, a different organisation." The future of the CBI which claims to cumulatively employ seven million people, overseeing 190,000 businesses hangs in the balance after a series of workplace misconduct, harassment and sexual assault problems, including two allegations of rape. Prior to the crisis, the lobbying group enjoyed a key role in discussing as well as shaping the economic policies with the government. However, if Newton-Smith fails to get going from the start, the business might go kaput, according to industry experts. ALSO READ | British business lobby group axes chief over 'misconduct' More than 50 leading firms such as John Lewis, BMW, Tesco, and Sainsbury have either cut or suspended ties with the company already, raising serious questions over its financial future. When quizzed if she was the right person to lead the company into a new era, having served as the CBI's chief economist between 2014 and 2023 - the period when most serious allegations took place, Newton-Smith said she always addressed the 'wrongdoings'. “I’ve always addressed wrongdoing when I’ve seen it, and if any of my staff have ever come to me with issues, I have listened to them and made sure they were supported, and that’s the culture I want to build,” she said. "I wouldn't be coming back into this job if I thought there were things that I had done or hadn't done or hadn't acted thoroughly on it. So that's what's really important to me." While Newton-Smith attempts to steer the ship through choppy waters, British Chancellor Jeremy Hunt has said there is 'no point' engaging with CBI when its own members had deserted them. (With inputs from agencies) WATCH WION LIVE HERE:

CBI, British lobby group hit by rape allegations, to be renamed

The head of Britain's big business lobby on Monday urged companies to shift to "an emergency footing" as the prospect of a no-deal <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/uk-pm-boris-johnson-heads-to-scotland-as-local-leader-attacks-no-deal-brexit-239153&amp;sa=U&amp;ved=2ahUKEwiutpjF7tnjAhWB7WEKHeKNDyEQFjABegQIDRAC&amp;usg=AOvVaw3OqUTbUB56cP2qqKncGMY2">Brexit</a> becomes more likely.

The Confederation of British Industry in a report also warned that the European Union was less prepared than Britain for such an eventuality but said both sides were not ready.

CBI chief Carolyn Fairbairn wrote in The Times that a <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/ditch-backstop-or-face-no-deal-brexit-uk-prime-minister-boris-johnson-tells-european-union-238918&amp;sa=U&amp;ved=2ahUKEwiutpjF7tnjAhWB7WEKHeKNDyEQFjAFegQIChAC&amp;usg=AOvVaw1EJyANSaoRj6_5CH1Nhb7e">no-deal Brexit</a> had become a "serious possibility".

"Now is the time to shift to an emergency footing."

"While it's not possible to seal our economy from all the damage the floodwaters of no-deal will cause, we can lay down the sandbags and protect as much as we can," she said.

The CBI's head of EU negotiations Nicole Sykes, however, tweeted that it was "like putting sandbags down for a flood.

"Your kitchen's still going to be underwater but MAYBE we can save the bedroom upstairs," she wrote.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
So no, we're not ready. A lot needs to be done, by everyone. 
That leaves -would it make a difference? Yes. And we should do what we can. But it's like putting sandbags down for a flood. Your kitchen's still going to be underwater but MAYBE we can save the bedrooms upstairs (7/9) <a href="https://t.co/sKKhOxR81v">pic.twitter.com/sKKhOxR81v</a>
— Nicole Sykes (@NicoleSykes_) <a href="https://twitter.com/NicoleSykes_/status/1155587093055377409?ref_src=twsrc%5Etfw">July 28, 2019</a></blockquote>
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The CBI report said: "The EU lags behind the UK in seeking to prevent the worst effects of a no-deal scenario.

"Although businesses have already spent billions on contingency planning for no-deal, they remain hampered by unclear advice, timelines, cost, and complexity," it said.

The report noted that larger companies in highly regulated areas such as financial services had prepared contingency plans but preparations in other sectors such as agriculture and manufacturing were lagging behind.

"There's a great deal more that the government, and firms, must do," Fairbairn said, calling in particular for a government information campaign to target smaller businesses that need the most help to prepare.

But she concluded that even with preparations in place "the shock of no-deal can only be reduced, not removed. It's a shock that will reverberate for years to come".

The head of Britain's big business lobby on Monday urged companies to shift to "an emergency footing" as the prospect of a no-deal Brexit becomes more likely. The Confederation of British Industry in a report also warned that the European Union was less prepared than Britain for such an eventuality but said both sides were not ready.

The head of Britain's big business lobby on Monday urged companies to shift to "an emergency footing" as the prospect of a no-deal Brexit becomes more likely. The Confederation of British Industry in a report also warned that the European Union was less prepared than Britain for such an eventuality but said both sides were not ready. CBI chief Carolyn Fairbairn wrote in The Times that a no-deal Brexit had become a "serious possibility". "Now is the time to shift to an emergency footing." "While it's not possible to seal our economy from all the damage the floodwaters of no-deal will cause, we can lay down the sandbags and protect as much as we can," she said. The CBI's head of EU negotiations Nicole Sykes, however, tweeted that it was "like putting sandbags down for a flood. "Your kitchen's still going to be underwater but MAYBE we can save the bedroom upstairs," she wrote. So no, we're not ready. A lot needs to be done, by everyone. That leaves -would it make a difference? Yes. And we should do what we can. But it's like putting sandbags down for a flood. Your kitchen's still going to be underwater but MAYBE we can save the bedrooms upstairs (7/9) pic.twitter.com/sKKhOxR81v — Nicole Sykes (@NicoleSykes_) July 28, 2019 × The CBI report said: "The EU lags behind the UK in seeking to prevent the worst effects of a no-deal scenario. "Although businesses have already spent billions on contingency planning for no-deal, they remain hampered by unclear advice, timelines, cost, and complexity," it said. The report noted that larger companies in highly regulated areas such as financial services had prepared contingency plans but preparations in other sectors such as agriculture and manufacturing were lagging behind. "There's a great deal more that the government, and firms, must do," Fairbairn said, calling in particular for a government information campaign to target smaller businesses that need the most help to prepare. But she concluded that even with preparations in place "the shock of no-deal can only be reduced, not removed. It's a shock that will reverberate for years to come".

No-deal Brexit had become a 'serious possibility': UK industry chief Carolyn Fairbairn

Britain will struggle to achieve even modest economic growth next year unless the government secures an orderly<a href="http://www.wionews.com/world/mays-brexit-deal-under-fire-as-legal-advice-stiffens-opposition-181720"> Brexit </a>in March, the Confederation of British Industry said on Thursday.

The CBI said the world's fifth-largest economy would grow by 1.3 per cent in 2018, 1.4 per cent in 2019 and 1.6 per cent in 2020, little changed from its previous projections in June.

The forecasts were slightly weaker than those of the Bank of England.

The CBI said it was assuming that <a href="http://www.wionews.com/world/brexit-uk-government-found-in-contempt-of-parliament-181525">Prime Minister Theresa May</a> wins backing in parliament for her preferred plan for leaving the European Union, something which looks unlikely at a vote due on Dec. 11.

"A no-deal scenario would blow these figures out of the water," the CBI's director-general, Carolyn Fairbairn, said, reiterating her organisation's support for May's plan.

Last week, the BoE warned that a worst-case Brexit could deal a bigger blow to Britain than the 2008 financial crisis, shrinking the economy by as much as 8 per cent in a year.

Economists at US&nbsp;bank JP&nbsp;Morgan said on Wednesday the odds of Britain staying in the EU had risen to 40 per cent from 20 per cent, following parliamentary setbacks for May and the likelihood that the European Court of Justice will rule that Britain could unilaterally revoke its EU departure notice.

Before the 2016 referendum, the CBI argued that staying in the EU would be best for Britain's economy.

Whilst the CBI expects real wage growth to recover partially, it predicts living standards will not rise much, due to Britain's failure to tackle persistently weak productivity.

"Brexit has sucked the oxygen from the domestic agenda," Fairbairn said.

Britain will struggle to achieve even modest economic growth next year unless the government secures an orderly Brexit in March, the Confederation of British Industry said on Thursday.

Britain will struggle to achieve even modest economic growth next year unless the government secures an orderly Brexit in March, the Confederation of British Industry said on Thursday. The CBI said the world's fifth-largest economy would grow by 1.3 per cent in 2018, 1.4 per cent in 2019 and 1.6 per cent in 2020, little changed from its previous projections in June. The forecasts were slightly weaker than those of the Bank of England. The CBI said it was assuming that Prime Minister Theresa May wins backing in parliament for her preferred plan for leaving the European Union, something which looks unlikely at a vote due on Dec. 11. "A no-deal scenario would blow these figures out of the water," the CBI's director-general, Carolyn Fairbairn, said, reiterating her organisation's support for May's plan. Last week, the BoE warned that a worst-case Brexit could deal a bigger blow to Britain than the 2008 financial crisis, shrinking the economy by as much as 8 per cent in a year. Economists at US bank JP Morgan said on Wednesday the odds of Britain staying in the EU had risen to 40 per cent from 20 per cent, following parliamentary setbacks for May and the likelihood that the European Court of Justice will rule that Britain could unilaterally revoke its EU departure notice. Before the 2016 referendum, the CBI argued that staying in the EU would be best for Britain's economy. Whilst the CBI expects real wage growth to recover partially, it predicts living standards will not rise much, due to Britain's failure to tackle persistently weak productivity. "Brexit has sucked the oxygen from the domestic agenda," Fairbairn said.

UK economy risks severe damage without orderly Brexit: British industry

The president of Britain's main business lobby today warned that the country's car industry risked "becoming extinct" outside the EU's customs union.

"If we do not have a customs union, there are sectors of manufacturing society in the UK which risk becoming extinct," Confederation of British Industry (CBI) president Paul Dreschler told BBC Radio 4's Today programme.

He highlighted the car industry as being particularly threatened by any deal that did not secure "real frictionless trade" with the European Union post-Brexit.

Prime Minister Theresa May is under pressure to commit to some kind of customs partnership as she pushes key Brexit legislation through parliament, despite promising that Britain would make a clean break with the EU in order to strike trade deals with the rest of the world.

The CBI president claimed there was "zero evidence" that such deals would provide any economic benefit to Britain.

"There's zero evidence that independent trade deals will provide any economic benefit to the UK that's material. It's a myth," he said.

The uncertainty was also forcing companies to delay investment decisions, he added. "We already know tens of millions, in fact, hundreds of millions have been invested by UK pharmaceutical and finance companies to create continuity post a worse-case Brexit scenario," he said.

"We still haven't got clarity about the future direction, about where we're heading, what will the future relationship with Europe be, at a level of detail that matters for investment." Brexit campaigner Patrick Minford, from the

Economists for Free Trade group accused the CBI of doing the bidding of "vested interests that oppose the competition and productivity growth that free trade under Brexit will bring".

"Precisely what Brexit will do is remove the EU protectionism and excessive regulation that is holding back our economy," he told the BBC.

"The gains from our potential free trade agreements are well documented. Our calculations put them at 4 per cent of GDP," he added.

May yesterday avoided a major blow to her Brexit strategy after lawmakers rejected a plan that would have given parliament a veto on the final deal negotiated with Brussels, but only after reaching a backroom deal with potential rebels.

She faces further battles today over how closely Britain stays aligned with the EU's economy after leaving.&nbsp;

Prime Minister Theresa May is under pressure to commit to some kind of customs partnership as she pushes key Brexit legislation through parliament

The president of Britain's main business lobby today warned that the country's car industry risked "becoming extinct" outside the EU's customs union. "If we do not have a customs union, there are sectors of manufacturing society in the UK which risk becoming extinct," Confederation of British Industry (CBI) president Paul Dreschler told BBC Radio 4's Today programme. He highlighted the car industry as being particularly threatened by any deal that did not secure "real frictionless trade" with the European Union post-Brexit. Prime Minister Theresa May is under pressure to commit to some kind of customs partnership as she pushes key Brexit legislation through parliament, despite promising that Britain would make a clean break with the EU in order to strike trade deals with the rest of the world. The CBI president claimed there was "zero evidence" that such deals would provide any economic benefit to Britain. "There's zero evidence that independent trade deals will provide any economic benefit to the UK that's material. It's a myth," he said. The uncertainty was also forcing companies to delay investment decisions, he added. "We already know tens of millions, in fact, hundreds of millions have been invested by UK pharmaceutical and finance companies to create continuity post a worse-case Brexit scenario," he said. "We still haven't got clarity about the future direction, about where we're heading, what will the future relationship with Europe be, at a level of detail that matters for investment." Brexit campaigner Patrick Minford, from the Economists for Free Trade group accused the CBI of doing the bidding of "vested interests that oppose the competition and productivity growth that free trade under Brexit will bring". "Precisely what Brexit will do is remove the EU protectionism and excessive regulation that is holding back our economy," he told the BBC. "The gains from our potential free trade agreements are well documented. Our calculations put them at 4 per cent of GDP," he added. May yesterday avoided a major blow to her Brexit strategy after lawmakers rejected a plan that would have given parliament a veto on the final deal negotiated with Brussels, but only after reaching a backroom deal with potential rebels. She faces further battles today over how closely Britain stays aligned with the EU's economy after leaving.

Brexit could make UK car sector 'extinct': Report