Market mayhem: US stocks plunge at the open, dragged down by financials as Goldman Sachs’ share price falls to three year lows June 27, 2016 US stocks have tripped at the open, following mounting loses across Europe as the reality of last week's Brexit vote sets in. The major US markets have extended a sharp sell off from Friday as investors worry over the global implications of the UK's vote to leave the European Union, despite the best efforts of senior [...]
What will Brexit mean for the City? June 27, 2016 Online protest-petitions aside, the people have spoken and the UK is now facing an exit from the European Union. What might this mean for the City, and Britain’s businesses more broadly? The short term We are already in the midst of extreme political uncertainty, and thus it is unsurprising to see panic and volatility in the [...]
Week ahead: Markets set to feel the Brexit burn as uncertainty reigns June 27, 2016 The spotlight will this week continue to be firmly on the implications of the UK’s shock decision to quit the European Union. Markets are expected to be on post-Brexit watch, with twitchy traders nervous over potential volatility. After the vote on Thursday the FTSE 100 dived more than eight per cent at the open on Friday [...]
Curzon Cinemas targets expansion around the world June 26, 2016 Curzon Cinemas, a chain that began in London in 1934 and has since opened 10 more cinemas across the country, is now targeting international growth through its digital offering. Philip Mordecai, director of home cinema at Curzon, is aiming to grow the digital side of the business and sees it eventually competing with the likes [...]
EU referendum: London Chamber of Commerce renews calls for London business visa June 26, 2016 London needs to make it easier for foreign skilled workers to come to the capital, the London Chamber of Commerce and Industry has warned. Last week’s vote for the UK to quit the European Union means London will struggle to remain competitive with European cities, the business group’s chief executive Colin Stanbridge told City A.M. The [...]
The Bank of England could cut its rates after vote for Brexit, according to Bank of America Merrill Lynch as it warns of imminent recession June 26, 2016 The Bank of England could be about to cut interest rates following the vote for the UK to quit the European Union. Experts at some of the world’s biggest banks have lined up say they’re expecting the Bank to ease further over rates at its next monetary policy meeting in July, and potentially restart quantitative easing [...]
The oil price has sunk as the Brexit vote casts uncertainty over financial stability and the future of the European Union June 24, 2016 Oil prices have followed financial markets lower today as the market comes to terms with the increased uncertainty caused by the UK's unexpected vote to leave the European Union. Oil fell sharply as the result of the referendum came in before recovering some ground. A the London market close international benchmark Brent crude was down $2.18 at $48.73 [...]
Steinhoff is having second thoughts on Poundland post-Brexit June 24, 2016 South African conglomerate Steinhoff is going off discount retailer Poundland following the unexpected Brexit vote. Steinhoff, owner of UK furniture firm Harveys and Bensons For Beds, blamed last night's vote for the UK to quit the European Union, as well as the recent falls in Poundland shares, for the decision. The UK yesterday voted by 52 per cent to 48 per cent to [...]
BP brushes off Brexit as it says base will remain in the UK June 24, 2016 BP, one of the biggest companies in the UK, has played down the effects of Brexit saying it "does not expect it to have a significant impact on business". The UK yesterday made the historic decision to split from the European Union, with the result of the vote announced this morning causing chaos across global markets. In a [...]
Thomas Cook suspends online currency sales after unprecedented demand overnight June 24, 2016 A surge in demand has forced travel firm Thomas Cook to suspend its online currency sales to avoid running out of cash. A vote for the UK to leave the European Union led to a sharp fall in the value of the pound, which had been rallying all week as markets bet the UK would vote to [...]
