Investors poured money into government bonds, seeking refuge.
.. “It looks bad, but it’s not a cataclysmic game-changer similar to Lehman.” Then he paused. “Yet.”
.. investors have begun a fearful march away from risk, potentially starving emerging markets and stripping European countries of needed capital.
.. Mark J. Carney, stood before television cameras and struck a resolute pose as he promised to do what it took to stabilize markets. He announced that he was prepared to unleash another £250 billion (about $370 billion) in pursuit of financial tranquillity.
Some Early Signs of ‘Brexit’ Upheaval
Mr. Dimon had said before the vote that up to a quarter of JPMorgan’s 16,000 employees in Britain might need to relocate.
.. And in the meantime, Europe could be in for serious political instability as right-wing parties in France, Finland and other countries try to ride Britain’s coattails out of the union.
.. BMW Mini automobiles and other products manufactured in Britain will be less expensive for people paying in euros and other foreign currencies. That could be good for exports.
.. Britain’s financial services industry, which employs 1.2 million people, is especially vulnerable.
.. Even Deutsche Bank, the symbol of German banking nominally based in Frankfurt, uses London as a base for investment banking and trading. It has often made most of its profit there.
.. Airbus produces wings in Broughton and employs 15,000 people in Britain plus tens of thousands more at suppliers.
.. Google employs roughly 1,000 engineers across Britain
.. German brands like BMW, Mercedes and Volkswagen account for half the cars sold in Britain
.. Probably the most important company in the renaissance of British car manufacturing has been Nissan, which has pumped close to 4 billion pounds since the mid-1980s into a world-class factory in Sunderland in northeast England.
.. Probably the most important company in the renaissance of British car manufacturing has been Nissan, which has pumped close to 4 billion pounds since the mid-1980s into a world-class factory in Sunderland in northeast England.
.. Yet despite the European Union’s importance to local jobs, voters in Sunderland voted overwhelmingly to leave.
Brexit Should be a Warning about Donald Trump
“Even people who truly hate me are saying it’s the best they’ve ever seen,” he said.
.. Didn’t he know that a continent was in crisis? Would this finally expose him as unacceptably unserious? In some of his tweets, he seemed not to acknowledge that the sentiment in Scotland was for Remain—did he understand the political structure of the United Kingdom?
.. During the Leave campaign, Johnson played Paul Ryan to Farage’s Trump—the more socially acceptable peddler of destructive ideas.
.. You know, when the pound goes down, more people are coming to Turnberry, frankly.”
But only the right kind of people, it seemed. “You’re going to let people that you want into your country. And people that you don’t want, or people that you don’t think are going to be appropriate for your country or good for your country, you’re not going to have to take,” Trump said.
.. there are structural economic issues that have left both Leave sympathizers and Trump voters with real grievances, and it will be disastrous if bigoted nationalists are the only ones who engage them.
.. Both Trump and Farage and his allies have made openly racist and ethnic appeals.
.. (For those who are not regular viewers of Trump’s speeches, this is a reference to the idea that Obama is blackmailing Clinton with the threat of jail for supposed crimes related to her e-mails.)
Boris Johnson Emerges as Big Winner in Brexit Vote
He claimed the EU dictated the shape of bananas and likened the bloc to underwear that had “become too tight in some places—far too tight, far too constrictive—and dangerously loose in other places.”