Wednesday, May 25

Day: June 24, 2016

Pound, Asia markets collapse as Britain quits EU
ENGLISH, Europe

Pound, Asia markets collapse as Britain quits EU

    The pound collapsed to a 31-year low and there was pandemonium on currency, equity and oil markets today as Britain voted to leave the European Union, fuelling a wave of global uncertainty. Sterling crashed 10 percent to $1.3229 at one point, its weakest level since 1985, while the greenback itself slumped below 100 yen for the first time in two-and-a-half years as traders fled to safety. In the weeks leading up to yesterday's historic vote, there had been widespread warnings that a "Brexit" would cause a rout across global markets that would wipe trillions off valuations, just months after a painful China-fuelled sell-off. The doomsday scenario appeared to be playing out as markets suffered one of their worst days since the 2008 financial crisis after final results confir...
Boris Johnson BOOED by angry crowd outside his home after Leave campaign triumph in Brexit vote
ENGLISH, United Kingdom

Boris Johnson BOOED by angry crowd outside his home after Leave campaign triumph in Brexit vote

    Boris Johnson was booed as an angry crowd gathered outside his home following this morning's Brexit vote. The Brexit backer was protected by police as he was bundled into a blacked-out people carrier. Reporters had been expecting some triumphant words from the Leave campaign's most high-profile figure but Boris dashed from his front door and into the car before driving off. A large crowd audibly booed before shouting "scum" and "traitor" at the former Mayor of London and banging on the windows of his car as he sped away. Just yards down the road his vehicle was then blocked in by dozens of cyclists who continued to taunt the 52-year-old. The nation is waking up to the shock Brexit vote after the Leave campaign secured as 52 per cent vote against the predictions of pollster...
How Brexit will impact Britain, Europe: Top 5 questions
ENGLISH, United Kingdom

How Brexit will impact Britain, Europe: Top 5 questions

    Britons voted in a referendum today to leave the European Union. Following are answers to key questions on what will happen next in Britain's relations with the bloc: 1. What does it all mean? The EU is in shock and entering uncharted territory. No member state has ever left and Article 50 of the EU treaty, which sets out how a state can exit the bloc, offers little detail. Although it provides a sketchy legal framework for a two-year period of withdrawal (see below), many fear the process can quickly become acrimonious, disrupting the economy and European affairs across the board. Cameron has said he will notify the Union "immediately" that Britain is leaving by invoking Article 50. But it is not clear how quickly Britain will set that two-year clock ticking and the EU it...
Britain and EU: An awkward marriage headed for divorce
ENGLISH, United Kingdom

Britain and EU: An awkward marriage headed for divorce

    Britain's break-up with Europe would be the culmination of decades of half-hearted and often hostile relations with neighbouring countries. The nation's rocky ties with the EU are rooted in its island history and defiant sense of independence. Some Britons still recall with pride that they were last successfully invaded in 1066. The nation's resistance to the Nazis in World War II is also central to British identity, particularly for older voters. "Britain has never really internalised the European project because of its very different history during the 20th century -- it is less frightened of the consequences of leaving," Robert Tombs, a history professor at Cambridge University, told AFP. Britain's resistance to the Nazis in World War II is also central to British ident...
David Cameron to quit after UK votes to leave EU
ENGLISH, United Kingdom

David Cameron to quit after UK votes to leave EU

    Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow to the European project of greater unity since World War II. Global financial markets plunged as results from Thursday's referendum showed a near 52-48 percent split for leaving. The pound fell more than 10 percent against the dollar to levels last seen in 1985, its biggest one-day fall in history, on fears the decision could hit investment in the world's fifth-largest economy, threaten London's role as a global financial capital and usher in months of political uncertainty. European shares plummeted more than 8 percent, headed for their biggest ever one-day fall. Billions of dollars were wiped off European banks' market value, with Britain's ...