SINGAPORE, (APP/AFP) – Oil prices suffered fresh losses in Asian trade Monday as the fallout from last week’s decision by Britain to leave the European Union batters confidence and ushers in a period of uncertainty. Global markets took a beating Friday, with some $2.1 trillion wiped off valuations and the British pound plunging to 31-year […]
Business News
Oil extends slide on worries about impact of Brexit
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US stocks plunge on Brexit; Dow drops 610 points
NEW YORK, (APP/AFP) – US stocks dived Friday after Britain’s surprise vote to leave the European Union, joining a global equity rout amid rising uncertainty about the future of Europe. The Dow Jones Industrial Average slumped 3.4 percent to 17,400.75. The 610-point drop was the index’s biggest single-day point loss in nearly five years. The […]
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German business confidence rises in June
FRANKFURT, (APP/AFP) – German businesses are feeling increasingly optimistic as the outlook brightens for Europe’s biggest economy, a closely-watched barometer showed on Friday, in a poll conducted before the British EU referendum. The Ifo institute’s business climate index rose by 0.9 point to 108.7 points in June, the leading economic think-tank Ifo said in a […]
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European stocks in free fall after Brexit vote
LONDON , (APP/AFP) – European stock markets and the British pound plunged at the start of trading Friday after Britain voted to leave the European Union, with banking stocks leading the way down. London’s FTSE-100 index was down 5.0 percent around 0745 GMT off earlier lows with banking stocks Royal Bank of Scotland, Barclays and […]
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London stock market plunges 8.0%
LONDON, (APP/AFP) – London stocks plunged around eight percent in opening deals Friday, with share prices of banks and housebuilders collapsing by about a third after Britain voted to leave the EU. The British capital’s FTSE 100 index shed 7.7 percent to 5,851.01 points shortly after the start of trading, with housebuilder Taylor Wimpey losing […]
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Bank of England to take to ‘all necessary steps’
LONDON, (APP/AFP) – The Bank of England will take “all necessary steps” to ensure stability following Britain’s decision to leave the European Union, it said Friday. “The Bank of England will take all necessary steps to meet its responsibilities for monetary and financial stability,” the central bank said in a statement, adding it was monitoring […]