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Friday's global equity loss worst ever

Money On Hook

The $2.08tril wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor's Dow Jones Indices.

What will Brexit mean for the City?

London At Night

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?

Goldman Sachs now expects UK recession


Britain is likely to enter a recession within the year as a result of last week's vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs' top economists said on Sunday.




Wells Fargo risk head takes personal time out

Wells Fargo, facing calls to hold senior managers accountable for a scandal over unauthorized customer accounts, said a top risk manager has taken a leave of absence on the eve of CEO John Stumpf’s testimony before the Senate Banking Committee.