Thursday 30 June 2016

Oil prices rise on Norway strike threat

Oil rose early on Wednesday as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply. International Brent crude futur


UK pensions minister Crabb jumps into Brexit PM race

Britain's Work and Pensions Secretary Stephen Crabb, widely regarded as a rising star in the government, has declared he will stand as a candidate to replace Prime Minister David Cameron as leader of the Conservative Party, the Politico website said on Tuesday. Cameron said h


Turkey allows Nato patrol flights on Syria border

Turkey has adjusted its military rules of engagement to allow Nato allies to carry out more patrol flights along its border with northern Syria, a Turkish official said on Tuesday. "Some Nato countries, especially Britain, complained that they could not perform enough patrol


EU presses Britain for quick exit to cut global fallout

Britain faced angry calls from other European leaders to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union which the IMF said could put pressure on global growth. Financial markets recovered slightly on Tuesday after the res


UK leader Corbyn defiant as policy team quit en masse

Britain's opposition leader Jeremy Corbyn vowed to fight to retain control of his Labour party on Monday after almost all his policy team withdrew their support for him in protest after Britons voted to leave the European Union. Corbyn is resisting pressure to quit over what


Second EU vote likely 'if migration deal struck'

Britain could hold a second referendum on European Union membership if it can broker a deal with the EU to allow full control of its borders, health secretary Jeremy Hunt said in a letter published by the Daily Telegraph on Monday. Hunt said the prime minister who succee


GE to sell US restaurant franchise loan portfolio

General Electric said it would sell a bulk of GE Capital's US restaurant franchise loan portfolio to three regional banks in separate deals as the industrial conglomerate winds down its financing arm to reduce regulatory burden. GE said on Monday the deals represent ending ne


Brexit vote rattles world markets for second day

Britain's vote last Thursday to leave the European Union continued to reverberate through financial markets on Monday, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook.


Cameron warns parliament against bid to block Brexit

Prime Minister David Cameron said on Monday there should be no attempt in parliament to block Britain's departure from the European Union (EU) following the country's vote to leave the bloc. The Scottish National Party's parliamentary spokesman later warned Cameron th


Pound hits 31-year low on Brexit impact

Sterling fell to a 31-year low against the dollar on Monday as a sell-off stemming from Britain's decision to quit the European Union gathered pace, with the euro also pressured as Brexit clouded the future of the rest of the bloc. Safe-haven currencies like the yen and the S

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