Friday 1 July 2016

Brexit vote rattles world markets for second day

Britain's vote last Thursday to leave the European Union continued to reverberate through financial markets on Monday, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook.


Cameron warns parliament against bid to block Brexit

Prime Minister David Cameron said on Monday there should be no attempt in parliament to block Britain's departure from the European Union (EU) following the country's vote to leave the bloc. The Scottish National Party's parliamentary spokesman later warned Cameron th


Pound hits 31-year low on Brexit impact

Sterling fell to a 31-year low against the dollar on Monday as a sell-off stemming from Britain's decision to quit the European Union gathered pace, with the euro also pressured as Brexit clouded the future of the rest of the bloc. Safe-haven currencies like the yen and the S


Further volatility ahead but UK economy strong, says Osborne

Finance minister George Osborne said Britain's vote to leave the European Union was likely to lead to further volatility on financial markets but said the world's fifth-biggest economy would cope with the challenge ahead. Osborne, who was speaking publicly for the first t


EU says to wait for talks while Britain in 'deep crisis'

Britain is in a "deep political crisis" following its referendum vote to leave the EU and so European leaders must give it some time to launch the formal divorce process, a senior EU official involved in preparing their next summit said on Sunday. Briefing reporters ahe


EU set to move bank regulator from London

The EU is preparing to move its European Banking Authority from London following Britain's vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator. Coming a day after Britain's Jonathan Hill resigned and was


Oil extends decline over Brexit concerns

Oil prices dropped around half a per cent on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday amid concerns over risk aversion. Global financial markets plunged on Friday as results from a re


UK ‘will retain access to EU single market’

Britain will continue to have access to the European Union's single market despite voting to leave the bloc, leading Brexit campaigner and favourite to become the country's next prime minister Boris Johnson said in a newspaper article on Sunday. Johnson said Britain could


British EU vote unnerves world leaders and markets

Britain plunged deeper into political crisis on Sunday after its vote to leave the European Union last Thursday, leaving world officials and financial markets confused about how to handle the political and economic fallout. Britain's Prime Minister David Cameron is expected t


London should be allowed Brexit rethink, says Merkel ally

German Chancellor Angela Merkel's chief of staff has said politicians in London should be able to have the chance to think again about the consequences of leaving the European Union (EU). "Politicians in London should have the possibility to reconsider the consequences o

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