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by Dario Thuburn LONDON, United Kingdom (AFP) — Prime Minister Theresa May won endorsement from US President-elect Donald Trump over her Brexit course but sterling plunged on Monday on fears that Britain could be on a collision course with its EU allies. Trump said Britain leaving the EU would “end up as a great thing” and promised to work for a trade deal with post-Brexit Britain “quickly and done properly”, speaking in an interview […]
LONDON, United Kingdom (AFP) – by Roland JACKSON Ben PERRY Brexit will spark an economic slowdown and ravage public finances, forcing a multi-billion-pound spike in state borrowing over the next five years, a gloomy mini-budget revealed Wednesday. Britain is predicted to borrow an extra £122 billion ($152 billion, 143 billion euros) in the period to 2021, according to official forecasts from the Office for Budget Responsibility. About half of that budget black hole — or […]
HONG KONG, China (AFP) — The pound slumped to a fresh 31-year low against the dollar Wednesday while Asian equity markets tumbled as the negative effects of the Brexit vote sent traders fleeing to safety. With last week’s global rally — inspired by promises of central bank stimulus after the poll — consigned to history, high-risk assets such as emerging currencies and oil have also been sent tumbling as fears begin to kick in. […]
TOKYO, Japan (AFP) — The pound held steady Wednesday and demand for higher-yielding currencies picked up as traders considered a meeting of Japanese officials and the possibility of fresh stimulus to counter the impact of Britain’s EU exit. In Tokyo, sterling bought $1.3328 slightly down from $1.3340 in New York where it had made gains after plunging to a 31-year-low $1.3121 earlier in the week. Japanese Prime Minister Shinzo Abe, Bank of Japan Governor Haruhiko […]
by Danny McCord HONG KONG, China (AFP) — The pound fell Monday to around 30-year lows but most Asian stock markets rebounded from hefty losses fuelled by Britain’s decision to leave the European Union, despite fears of months of uncertainty. Sterling plunged two percent in early Asian trading before paring losses as dealers rushed into safe assets, although Japan’s Nikkei stock index rallied. Britain’s finance minister George Osborne looked to reassure markets, saying the […]
by Robin MILLARD LONDON, United Kingdom (AFP) — Early results from Britain’s knife-edge referendum showed unexpectedly strong support for leaving the European Union on Friday, sending the pound plummeting as investors feared a historic blow against the 28-nation alliance. Just minutes earlier, global financial markets had been surging after two opinion polls gave them hope that Britons would choose to stay in bloc, born out of a determination to forge lasting peace after two world […]
