Robert Farley SPECIAL TO EMIRATES BUSINESS The Korean shipbuilding industry has plunged into a deep crisis. The three biggest shipbuilding firms—Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better. Combined with a major accounting scandal and ongoing concerns about the viability of the market, South Korea could face a major shift in the …

  Clive Crook The Financial Times’s Gideon Rachman says he thinks Brexit won’t happen. The referendum result doesn’t mean that much, he argues. Any long-term observer of the EU should be familiar with the shock referendum result. In 1992 the Danes voted to reject the Maastricht treaty. The Irish voted to reject both the Nice treaty in 2001 and the …

  Sydney, Australia / AFP Australia heads to the polls on Saturday with a suave multi-millionaire former banker vowing only he can ensure stability in the wake of the Brexit vote for a nation used to a revolving door of prime ministers. Malcolm Turnbull, 61, became Australia’s fourth leader in just over two years when he ousted fellow Liberal Tony Abbott …