London / AFP The future of opposition Labour leader Jeremy Corbyn looked shaky on Sunday after two members of his top team quit and others seemed set to follow over his handling of Britain’s EU referendum. Corbyn sacked his foreign affairs spokesman, Hilary Benn, late Saturday after Benn said he no longer had confidence in his leadership, while health ...
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Kerry to visit Brussels, London for talks on Brexit
ROME / AP US Secretary of State John Kerry will rush to Brussels and London on Monday to meet the top British and European Union diplomats, as the world grapples with the implications of Britain’s historic vote to leave the European Union. Kerry will bring messages of support. Less likely: Answers or even suggestions for how to deal with ...
Read More »American dream turns into nightmare for undocumented immigrants
Perris / AFP Every weekday, year-round, Esteban Yanez rises at the crack of dawn and heads to his job as a construction worker near the largely Hispanic desert town of Perris, south of Los Angeles. On weekends, he does odd jobs to complement his salary. Though the 49-year-old father of four pays income tax and social security, he has ...
Read More »Middle Eastern stocks slump as investors weigh Brexit fallout
BLOOMBERG Middle Eastern stocks followed declines across global markets on uncertainty over how Britain’s decision to leave the European Union will affect economies in the region. Dubai’s DFM General Index lost 3.3 percent, the most since January, as Emaar Properties PJSC declined 4.7 percent. Saudi Arabia’s Tadawul All Share Index fell 1.1 percent as more than 85 percent of ...
Read More »Copper price tumble hits tens of thousands of Congolese
Lubumbashi, DR Congo / AFP When 2016 rang in, Divin Lwamba, a street vendor with nine mouths to feed, says he was making up to $300 a day selling samosas in Lubumbashi’s main market. With meat and vegetable samosas flying off his cart almost faster than they were made, Lwamba says he could make enough cash in a single ...
Read More »Safe-haven flows may benefit US as Brexit roils global mkts
Bloomberg As markets reel from the U.K.’s surprise decision to leave the European Union, the U.S. may be one of the relatively safer ports in the global storm. The world’s biggest economy may be poised to attract a bit of the growth that would have otherwise taken place in the U.K., according to some economists. Companies looking for havens ...
Read More »British brace for gloom and doom after Brexit
AP The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they’ll find out whether it will. UK financial leaders are scrambling to reassure households, businesses and investors that they can contain the doom and gloom they had predicted in case of a British exit, or Brexit. The pound ...
Read More »Saudi to hire JPMorgan for first dollar bond
Bloomberg Saudi Arabia appointed JPMorgan Chase & Co, HSBC Holdings Plc and Citigroup Inc to arrange its first international bond sale, people with knowledge of the matter said asking not to be identified as the decision isn’t public. The banks declined to comment, while calls to Saudi Arabia’s finance ministry outside office hours weren’t immediately returned. Saudi Arabia is ...
Read More »Bitcoin buyers seek haven from British pound
Bloomberg Demand surged for bitcoin as a safe haven from the British pound, which plummeted after the UK voted to leave the European Union. The pound fell to its lowest in more than 30 years, driving demand for assets such as US Treasuries and gold. Stocks and bonds also fell, amid concerns that the UK’s exit from the European ...
Read More »Would be amazed if Fed raises rates in 2017: Avenue chief
Bloomberg Marc Lasry, chairman and chief executive officer of hedge fund firm Avenue Capital Group, told Fox Business Network that the Federal Reserve is likely to hold interest rates steady after British voters’ decision to leave the European Union. “I don’t think the Fed’s going to raise rates right now,†Lasry told the business-news channel, according to excerpts from ...
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