Financial news

• Post-Brexit market mayhem spreads beyond U.K. and across sectors - Financial Post

  24-06-2016 22:58
  
  Financial Post
  Post-Brexit market mayhem spreads beyond U.K. and across sectors
  Financial Post
  Spencer Platt/Getty ImagesTraders work on the floor of the New York Stock Exchange (NYSE) following news that the United Kingdom has voted to leave the European Union. Twitter · Google+ · LinkedIn · Email · Typo? More. Comments · Tumblr · Pinterest ...en meer »
  
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• FTSE 100 closes 4% lower in global market sell-off as Brexit recession looms - live

  24-06-2016 21:53
  
  World markets have slumped in Europe, America and Asia, as economists predict that Brexit vote will push UK into recessionLatest: European markets battered after Brexit voteDow Jones down 500 points in Wall Street selloffUK recession ‘near certainty’Bank of England pledges £250bn liquidity
  Pound hit 31-year low this morning
  Brexit live: David Cameron resigns after EU referendum result8.53pm BSTTrading in the British pound hit unprecented levels today, according to the FT’
  
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• The post-Brexit financial world remains deeply uncertain

  24-06-2016 20:37
  
  Despite the market’s predictably volatile reaction to the EU referendum result, the longer-term impact will be harder to gaugeThis post-Brexit financial world will require a lot of untangling. The FTSE 100 index closed down only 200 points, which used to be seen as a bad, but far from catastrophic, event in the stock market. You would have got long odds on that outcome at 2am in morning, when Sunderland and Newcastle gave the first signs of the UK political earthquake in store, and even lo
  
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• Bank of England tries to calm markets as pound and shares plummet

  24-06-2016 20:13
  
  Amid fears that Brexit vote risks sparking fresh financial crisis, Carney says Bank ready to do whatever is needed to mitigate impactThe governor of the Bank of England has stepped forward to calm financial markets after the Brexit vote sent the pound to its lowest level since 1985 and at one point wiped £120bn off the value of Britain’s leading shares. Amid fears that it could spark a fresh global financial crisis, Mark Carney said Threadneedle Street was ready to do whatever was ne
  
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• London Stock Exchange and Deutsche Börse claim merger will go ahead

  24-06-2016 19:36
  
  Combined firm should not be based in UK following Brexit vote – if it proceeds at all – say German politicians
  The London Stock Exchange and Deutsche Börse have insisted their proposed £21bn merger will still go ahead, despite a German politician declaring the tie-up “dead” after the UK voted to leave the European Union.The two companies announced merger plans this year after two previous failed attempts. The deal that would lead to the combined firm domiciled
  
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• A rollercoaster ride for City traders on EU referendum night

  24-06-2016 18:40
  
  From quiet reassurance that remain would edge to sterling’s 31-year low against the dollar, the mood swing was extremeAs Nigel Farage strode into the Millbank tower around midnight for a post-referendum gathering, it was looking as if it might turn out to be a wake.The Ukip leader’s City pals had told him remain had triumphed. They had backed their hunches with cash, sending the value of the pound up towards $1.50 as the polls closed at 10pm. Continue reading...
  
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• Multinationals warn of job cuts and lower profits after Brexit vote

  24-06-2016 18:26
  
  JP Morgan, Airbus and Ford say they will review UK operations as analysts warn of serious implications for City workforceThousands of jobs are at risk in the UK after some of the world’s largest companies warned they could relocate their British-based operations on the back of the EU referendum result.The investment bank JP Morgan, airplane maker Airbus and car manufacturers Toyota and Ford all said they will review their investments in the UK after the country voted to leave the European
  
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• Stuart Rose: anger at politicians and mistrust of big business drove leave vote

  24-06-2016 18:10
  
  Referendum shows voters ‘want to be listened to and want change,’ says former M&S chief who chaired remain campaignStuart Rose, the former M&S boss installed as chairman of the Britain Stronger in Europe remain campaign, has blamed the leave victory on voters’ anger with distant politicians and a loss of trust in big business.“I’m not a politician and this was always going to be a battle won or lost by politicians, and a reflection of the bigger things going
  
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• Fixed-rate mortgages 'likely to get even cheaper' after Brexit

  24-06-2016 17:56
  
  Home loans expert predicts a raft of lenders will offer lower-priced deals to borrowers as their cost of funding falls
  The Brexit vote looks set to push already cheap fixed-rate mortgages to new lows, with a raft of lenders likely to cut borrowing costs for new customers in the coming days, according to a leading home loans expert.
  Ray Boulger, of mortgage broker John Charcol, said a fall in gilt yields would reduce the cost for lenders of longer-term funding “and hence open the door for e
  
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• Bank of England seeks to limit damage of UK's vote to leave EU

  24-06-2016 17:34
  
  Will Brexit be the catalyst for another financial crisis in the eurozone or the wider world economy? Mark Carney was at his soothing best. Shortly after the London stock market had opened for business, the governor of the Bank of England made a statement on what would happen now Britain had decided to exit the European Union.Having been one of the many institutions that had highlighted the risks of a vote to leave, Carney was now all calm reassurance. Banks would not run short of money, he said.
  
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• Let’s move to Paisley, Renfrewshire: the tumbleweed town

  24-06-2016 17:30
  
  Monuments fit for a king, columns, pediments, spires and turrets… but where are the people, asks Tom DyckhoffWhat’s going for it? There was terrible traffic on the M8, so we took a right and ended up in Paisley. All around us were the grandest of scenes: monuments fit for a king, columns, pediments, spires and turrets. But where were the people? At 4pm, downtown Paisley was tumbleweed town.How times have changed. Paisley was crafted in the finest sandstone in its 19th century boomti
  
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• What Brexit means for the UK's small businesses

  24-06-2016 16:53
  
  Uncertainty is unlikely to sit well with entrepreneurs and business lobbies are already calling for actionThe debates are over and the result is in. Businesses have been divided during the referendum but must now contend with the outcome, whether they like it or not. Small business owners awoke on Friday morning to the seismic news that the UK has voted to leave the EU and are now pondering their futures. For many it’s been a campaign filled with unanswered questions, but now business owne
  
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• Sir Martin Sorrell calls for 'stiff upper lip' as media stocks are hit by out vote

  24-06-2016 16:40
  
  WPP chief says he is ‘very disappointed’ by EU referendum result, amid warnings over ad spend and falling shares including ITVWPP’s Sir Martin Sorrell has said that British businesses have to show a “stiff upper lip and make the best of it” amid reports warning of a huge decline in advertising spend following the UK vote to leave the European Union.
  The chief executive of the world’s largest marketing service group spoke as UK media stocks saw falls of up to 2
  
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• Mark Carney seeks to reassure financial markets after Brexit – video

  24-06-2016 16:37
  
  Bank of England governor Mark Carney tries to calm fears over the markets on Friday following the UK’s vote for Brexit in the EU referendum. Saying ‘we are well prepared’ he adds the Bank of England will take any measures needed to secure economic and financial stabilityMark Carney says Brexit contingency plans under way Continue reading...
  
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• What does Brexit mean for you? Holidays, homes and jobs

  24-06-2016 14:51
  
  From mortgage repayments, pensions and petrol to savings and graduate jobs, we look at the practical implications of Britain’s withdrawal from the EUEU referendum – liveBritain has voted to leave the EU. Some ramifications will take time to become apparent, but many of the implications are already becoming clear. So what does the Brexit vote mean for you, and where will you see the effects first?Continue reading...
  
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• ECB ready to deal with financial impact of UK exit - RT

  24-06-2016 14:38
  RT
  ECB ready to deal with financial impact of UK exit
  RT
  The European Central Bank says it is ready to manage the impact on the financial markets and the banking system as a result of Britain leaving the EU. TrendsBrexit. “The ECB is ready, today everyone is in place and there will be instructions from the ...
  Carney: UK financial system strong enough for Brexitsecurities lending times
  UK banks set for all night vigil over 'Brexit' fearsFinancial Expressalle 298 nieuwsartikelen 
  
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• Brexit vote leaves UK on brink of recession, economists say

  24-06-2016 14:24
  
  Analysts predict economic and political uncertainty will hit British economy and have global repercussions
  Britain’s decision to leave the EU has left the country on the brink of a recession that will reverberate around the world, economists have said amid fears of a drop in investment and turmoil on global markets.As Thursday night’s drama unfolded, economists immediately started to assess whether George Osborne’s pre-referendum warning of a year-long “DIY recession&rdqu
  
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• Brexit aftermath – in pictures

  24-06-2016 14:05
  
  Reactions from leaders and the public in London and Europe on the EU referendum result – in pictures Continue reading...
  
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• Business leaders react to EU vote

  24-06-2016 12:51
  
  From Sir Richard Branson to the head of Goldman Sachs, bosses of the world’s leading companies react to BrexitThe bosses of the world’s leading companies have given their reaction to Britain’s vote to leave the European Union.Their response includes warnings that companies could be forced to restructure their operations in the UK, but also pledges to press ahead with their existing strategies.Continue reading...
  
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• Market reaction to Britain's leave vote: it could have been worse

  24-06-2016 12:24
  
  Do not read too much into the City’s initial response, divorce negotiations with the EU are now the main eventThe FTSE 100 index is down about 300 points, or 4.5%, at 10am. Sterling is 7% weaker against the dollar. And 10-year gilt yields have fallen from 1.3% to close to 1%, the biggest one-day drop since 2009. These are big moves but – versus expectations – you’d call it a par score. Share prices and the pound had rallied strongly in the days before on the expectation o
  
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• FTSE 100 and sterling plummet on Brexit vote

  24-06-2016 11:44
  
  Traders in London react to the UK’s vote to leave the EU and the prospect of recession after months of market turmoilShares plunged and the pound plummeted to a 31-year low as panicked traders reacted to the UK’s vote to leave the EU and the prospect of recession amid months of market turmoil.The FTSE 100 fell more than 8% within the first few minutes of trading on Friday, with shares in banks particularly hard hit and nursing their biggest falls since the collapse of the US investme
  
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• International Airlines Group shares plummet as it warns on profits

  24-06-2016 11:42
  
  Owner of BA and Iberia says business has been slower than expected before Thursday’s referendumBritish Airways’ owner has warned annual profit will be less than expected because of weak trading caused by the EU referendum.International Airlines Group said business had been slower than expected before Thursday’s referendum and that following the vote to leave conditions would remain difficult. Continue reading...
  
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• Energy bills: plans for blanket ceiling on how much firms can charge ditched

  24-06-2016 11:33
  
  First Utility says regulator’s final report, which also rows back on estimates for scale of overcharging by big six, ‘missed the mark’ The competition watchdog has overridden the concerns of one of its key experts by ditching plans for a temporary cap on how much energy firms can charge, opting instead for helping customers switch to cheaper deals.A final report – two years in the making – on energy market reforms has also rowed back on its estimates for the scale o
  
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• Mark Carney says Brexit contingency plans under way

  24-06-2016 10:37
  
  Governor says Bank of England will take any measures needed to secure economic and financial stabilityLive: markets slide after BrexitLive: David Cameron resigns after EU voteBank of England governor Mark Carney has sought to calm financial market fears about the impact of the UK’s Brexit vote by insisting that Threadneedle Street will take any measures needed to secure economic and financial stability. Continue reading...
  
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• Hold your nerve, financial advisers tell small investors

  24-06-2016 10:14
  
  Advisers urge calm following Brexit vote, but warn of market volatility for years to come
  The message from financial advisers this morning to bewildered small investors is “hold your nerve,” while demanding that central bankers around the world act urgently to calm markets. Jason Hollands, managing director of wealth management group Tilney Bestinvest, said: “Investors are going to need to hold their nerve through the coming days. Although the scale and rapidity of the slide in
  
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• The gender pay gap won't just go away, but new regulations are a start

  24-06-2016 10:00 via theguardian.com
  
  Lack of pay transparency and expensive tribunal claims perpetuate the imbalance in male and female salaries; we need a step change in employers’ assumptions
  Some issues are totemic and symbolise the challenges that remain in terms of achieving gender equality. The gender pay gap is one of them. The average British woman earns around 80p for every £1 earned by a man. This discrepancy exists for several reasons: because women are concentrated in low-paid jobs and take on the lion&rsquo
  
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• Bookies got EU vote wrong, Ladbrokes says

  24-06-2016 09:00
  
  Despite offering odds based on remain win, firms set to profit from biggest political betting event in British historyEU referendum outcome - live
  Ladbrokes has admitted that betting markets got the EU referendum outcome completely wrong and will have to “face up to some tough questions”.As the polls closed on Thursday night, Ladbrokes was offering 4-1 on an out vote, with its betting suggesting that a remain verdict was a 90% certainty.Continue reading...
  
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• Pound slumps to 31-year low following Brexit vote

  24-06-2016 08:55
  
  Results from across the country suggesting the Brexit camp were on the brink of declaring a referendum victory saw sterling down 10% against the dollarBritain votes to leave EU – liveEU referendum results – live trackerThe value of sterling slumped to a 31-year low on currency markets and was on course for its biggest one-day loss in history as panicking investors contemplated the prospect of a vote to leave the European Union. Related: Global markets plunge after UK votes to leave E
  
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• No CVs, no job application forms: is this the future of hiring?

  24-06-2016 08:30
  
  Employers can say goodbye to that mountain of CVs, say the founders of startup TalentPool, whose solution does the hard work
  Recruitment is a pain. Paying for jobs to be advertised widely across the web and then whittling down piles of CVs is time-consuming. So is taking calls from recruitment agencies who have seen your ad and can send over more CVs, in return for a hefty fee of one fifth of a successful applicant’s first-year salary.It was this experience of hiring that convinced Tom Dav
  
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• House price fall could follow Brexit, say experts

  24-06-2016 08:25
  
  Warnings of uncertainty in UK housing market, but falling pound could spark ‘Brexit bubble’ at top end of London market
  House prices and sales will take at least a short-term hit following the vote to leave the EU, but sterling’s slump could lead to a “Brexit bubble” in the most expensive parts of the market, property experts have warned.Shares in housebuilders – a bellwether of the UK property market – were the worst-hit stocks in Friday morning’s
  
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• Gold jumps 22% after referendum result

  24-06-2016 08:04
  
  Overnight surge in trading price is fastest move against sterling in history and shows panic sweeping markets, says gold expertGold, the traditional safe haven in times of market turmoil, has soared in value overnight, jumping 22% in sterling terms in a dramatic indication of worldwide panic over Britain’s exit from the EU. As the polls closed at 10pm last night gold was trading at $1,256.50 an ounce, but it started to accelerate swiftly as early results from the referendum began to feed t
  
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• Do I need to stay late just to appear committed to my job?

  24-06-2016 08:00 via theguardian.com
  
  My boss expects me to work extra hours as I’m in a senior position, but I don’t believe in staying late for the sake of it
  Twice a week we publish problems that will feature in a forthcoming Dear Jeremy advice column in the Saturday Guardian so that readers can offer their own advice and suggestions. We then print the best of your comments alongside Jeremy’s own insights. Here is the latest dilemma – what are your thoughts?At my last appraisal my boss commented that I &ld
  
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• A cold war torpedo testing site in Bushy Park – in pictures

  24-06-2016 08:00
  
  Underwater missiles were put through their paces at the facility, which is now a six-bedroom modern mansionContinue reading...
  
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• The day Brexit pushed the markets into freefall

  24-06-2016 06:30
  
  Britain is facing a political and constitutional crisis. Expect action from the Bank of England to calm the markets11 September 2001. 15 September 2008. To that list of huge stock market plunges, it looks as if historians will soon add 24 June 2016: the day the markets went into freefall when Britain voted to leave the European Union. Related: Global markets plunge after UK votes to leave EU – live updatesContinue reading...
  
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