The post-Brexit vote collapse in sterling has wiped $1.5 trillion (£1.2 trillion) off UK wealth, according to Credit Suisse. The Swiss bank’s Global Wealth Report said that following the pound’s 16% slide against the greenback, the number of dollar millionaires has fallen by 406,000 since the EU referendum result. Michael O’Sullivan, Credit Suisse’s international wealth chief
Bank of England (BoE) governor Mark Carney has told MPs that the decision to cut interest rates and introduce a package of fiscal stimulus measures will make Brexit a ‘success’. Carney has been criticised over the way the BoE handled its reaction to the vote to leave the EU. In a package of reforms announced last month, the
US stocks snapped a four-session rally on Tuesday as investors faced continued uncertainty in the wake of Britain’s decision to leave the European Union, on a day marked by light-trading volume following Independence Day. The Dow Jones industrial average declined 109 points, or 0.61%, to 17,841, the S&P 500 lost 14 points, or 0.68%, to 2,089
The pound has fallen to a new 31-year low against the dollar as the Bank of England announced new measures to ease lending to help the UK economy cope with the impact of the ‘Brexit’ vote. The pound fell 1.1% to $1.314, below the levels hit in the immediate aftermath of the UK’s vote to leave
The governor of the Bank of England Mark Carney has said that the bank is prepared to inject up to £250 billion to stabilise financial markets if required. In a speech following the UK’s vote to leave the EU this morning, Carney (pictured) responded to deep uncertainty in the markets following the results. The FTSE 100 index
