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.
First signs Brexit will hit jobs.
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?
That didn’t take long.
Point72 Asset Management, the firm that oversees billionaire Steven A. Cohen’s wealth, reassured employees that its planned expansion to London remained on track, despite Britain’s decision to leave the European Union.
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.
'The outcomes could range from a very small change to a substantial one'.
The UK has been stripped of its last AAA rating as credit agency Standard & Poor’s warned of the economic, fiscal and constitutional risks the country now faces as a result of the EU referendum result.
This is what should be done by politicians to avoid a global recession after Brexit, former Wells Fargo CEO Dick Kovacevich says.
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.
Billionaire George Soros pledged on Tuesday to invest up to $500 million in programs benefiting migrants fleeing life-threatening situations.
Some of the world’s largest hedge funds are expanding in Asia as they seek new areas of growth amid the industry’s struggles to make money and retain investors.