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Obama After E.U. Vote: ‘The People of the United Kingdom Have Spoken’

24 Jun

The Brexit vote threw a shadow over the technology-friendly president’s trip to the Global Entrepreneurship Summit at Stanford University.

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Wall St. plunges at the open after shock Brexit vote

24 Jun

Traders work on the floor of the New York Stock Exchange (NYSE) in New YorkAt 9:33 a.m. ET (1333 GMT) the Dow Jones industrial average was down 538.21 points, or 2.99 percent, at 17,472.86, the S&P 500 was down 54.85 points, or 2.6 percent, at 2,058.47 and the Nasdaq Composite was down 177.97 points, or 3.62 percent, at 4,732.08. Oil prices, which are sensitive to changes in the economic outlook, dropped more than 4 percent, the biggest fall since early February.

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Veterans Use Battlefield Experiences to Build Businesses

23 Jun

The number of veterans starting businesses has dropped since World War II, but new programs and technologies are inspiring those formerly in the military to pursue start-ups.

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Wall Street opens higher as Britain votes on EU membership

23 Jun

Traders work on the floor of the NYSEMarkets across the globe have been rattled over the past two weeks as investors speculated about the consequences of Britain’s exit from the European union, including the unraveling of the bloc. U.S. markets also took solace in Fed Chair Janet Yellen’s two-day testimony this week when she expressed optimism about the economy and downplayed the chances of a recession this year. “The markets are the best judge of what is going to happen and they are saying that Britain will remain.

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Wall Street edges up ahead of Brexit vote

22 Jun

Traders work on the floor of the New York Stock ExchangeInvestors will also keep an eye on U.S. Federal Reserve Chair Janet Yellen’s second day of testimony to Congress on the health of the economy. On Tuesday, Yellen was optimistic about the economy and played down the risk of a recession, but warned that the British vote on Thursday and a U.S. hiring slowdown posed risks to the economic outlook.

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Wall Street pares gains after Yellen cautions about economy

21 Jun

Traders work on the floor of the New York Stock Exchange“The pace of improvement in the labor market appears to have slowed more recently, suggesting that our cautious approach … remains appropriate,” Yellen said. The central bank left interest rates unchanged and cut the economy’s growth forecast last week after surprisingly weak monthly hiring data put the economy’s recovery in question. Weak productivity, slowing economic activity and developments abroad led the committee to expect interest rates to remain low “for some time”, Yellen said.

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Fed cautious on rates due to Brexit, hiring slowdown: Yellen

21 Jun

Federal Reserve Chair Janet Yellen holds a press conference in WashingtonGlobal risks and a U.S. hiring slowdown warrant a cautious approach to raising interest rates as the Federal Reserve looks for confirmation that the country’s economic recovery remains on track, Fed Chair Janet Yellen said on Tuesday. In prepared testimony before the Senate Banking Committee, Yellen outlined how the central bank was thrown off course within weeks of raising rates last December by a slowdown in domestic growth and international events, including concerns over China’s economy and a further collapse in oil prices. Some of those clouds remain, Yellen said in comments that seemed to signal no pressing need for the Fed to raise rates.

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In the shadow of a murder, Britain to vote on EU membership

20 Jun

Tributes in memory of murdered Labour Party MP Jo Cox, are left at Parliament Square in LondonBy Guy Faulconbridge LONDON (Reuters) – Britons will shape the future of the United Kingdom and Europe on Thursday when they decide whether to stay in the European Union following a campaign that has shown the potency of anti-establishment feeling in the West. Whatever the outcome, the referendum could force the EU to rethink how it governs 500 million citizens and – along with the rise of Donald Trump in the United States – have far-reaching implications for the future configuration of the West. Allies such as U.S. President Barack Obama and German Chancellor Angela Merkel have implored Britain to stay in the bloc, which they say has given Europe decades of prosperity after centuries of bloodshed.

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Tracing the global market thread that could be unraveled by Brexit

19 Jun

Illustration picture of postal ballot papers June 1, 2016 ahead of the June 23 BREXIT referendum when voters will decide whether Britain will remain in the European UnionIf Britons vote to take their country out of the European Union on June 23, no corner of the global financial market complex will emerge unscathed. The invisible thread that links assets as diverse as gold, bank stocks, the Japanese yen and government bonds would be yanked sharply by Brexit, an event the Bank of England said on Thursday risks “adverse spill-overs to the global economy”. With global interest rates and bond yields the lowest on record, central banks running low on crisis-fighting tools and the post-2008 economic recovery flagging, that thread could quickly unravel, with serious consequences for all markets.

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Heavy trading predicted around Brexit vote

18 Jun

A man carries an umbrella during a morning snow fall on Wall St. in New York's financial districtNEW YORK (Reuters) – U.S. stock markets could see heavy trading and increased volatility as investors position for next week’s referendum on whether Britain remains in the European Union.

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