US president Donald Trump has promised a big trade deal for post-Brexit Britain to Boris Johnson and praised the new prime minister as the right man to take Britain out of the European Union.

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Lord Bilimoria, president-elect of the Confederation of British Industry (CBI), has urged Boris Johnson’s government to drop Theresa May’s proposed £30,000 minimum salary threshold for skilled European migrants.

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A no-deal Brexit would seriously disrupt the free flow of commercially valuable data between Europe and the UK, leaving companies across the finance, hospitality, manufacturing and technology sectors facing “immense” extra costs, according to University College London.