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.
Credit Suisse has hired Jason Wortendyke from rival Citigroup as co-head of its global diversified industrials, aerospace and defense investment banking group, according to an internal memo on Thursday reviewed by Reuters.
Deutsche Bank has seen some outflows from its wealth management division but the withdrawals were not significant, senior executives told Reuters, responding to concerns about the possible impact of a U.S. fine.
JPMorgan CFO Marianne Lake said Friday that her bank is conducting a "deep dive" into potential cross-selling issues.