06292016Wed
Last update: Wed, 29 Jun 2016 11pm

Europe

World - Europe

Foreign investors eye UK property after Brexit fallout HONG KONG: With property prices in Britain predicted to plummet post-Brexit, foreign investors, especially in Asia, are already poised for a buying spree.It is an ironic twist to the shock referendum result -- many who opted to leave the European Union saw their vote as a deterrent to outsiders looking to take advantage of economic opportunities in Britain.The aftermath of Thursday's vote to leave the EU saw the resignation of British Prime Minister David Cameron and the collapse of the pound to a 31-year low. There was pandemonium on currency, equity and oil markets.At around 2100 GMT Friday, sterling was down about 8.8 percent against the dollar compared with Thursday night, and foreign exchange experts predicted more weakness ahead.Property prices are also expected to take a hit, with reports of buyers pulling out of transactions due to market uncertainty.But while there may be a "wait and see" approach for some, ...

World - Europe

London fears Brexit exodus of bankers, investment LONDON: Will Brexit threaten London's long-booming economy? The British capital fears investors and bankers could flee the city after the shock nationwide vote, threatening its coveted reputation as a global financial hub.Some 60 percent of Londoners voted to stay in the EU in Thursday's historic referendum, but the rest of the country cast their ballots overwhelmingly to leave.And the capital's 8.6 million residents, whose GDP is about the same as that of oil-rich Norway, are ...

World - Europe

Kerry to fly to London, Brussels Monday over Brexit crisis ROME: Top US diplomat John Kerry will fly to Brussels and London on Monday for talks with Washington's key allies in the aftermath of Britain's vote to leave the European Union.US officials travelling to Rome with the secretary of state told reporters on the flight that two stops had been added to his European itinerary at the last moment. "Tomorrow we'll go to Brussels and then on to London," one said.Copyright AFP (Agence France-Presse), 2016 ...

World - Europe

Europe to push for quickie British divorce as Kerry flies in BRUSSELS: European leaders will embark this week on a frantic drive to push Britain for a quick divorce, with top US diplomat John Kerry rushing to join discussions as the "Brexit" crisis goes global.Germany's powerful Chancellor Angela Merkel will host the leaders of France, Italy and the EU in Berlin on Monday amid fears Britain's vote to leave will create a domino effect in eurosceptic member states.In what promises to be one of the bitterest ...

World - Europe

UK Labour leader under pressure after MPs quit LONDON: 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's allies said he had no intention of resigning, but the veteran socialist is facing a revolt over concerns that he is ill-equipped to deal with the fallout from Britain's seismic decision to quit the bloc."He's a good and decent man but ...

World - Europe

European Parliament urges Britain to begin EU exit Tuesday BERLIN: The European Parliament's chief called Sunday for British Prime Minister David Cameron to begin formal proceedings to leave the EU at a summit this week.Martin Schulz told German newspaper Bild am Sonntag that a period of limbo over Brexit would "lead to even more insecurity and thus endanger jobs"."Hesitating simply to accommodate the party tactics of the British Conservatives hurts everyone," he said. "That is why we expect the British government to now deliver. ...

World - Europe

Brexit turmoil hits Labour, boosts Scots nationalists LONDON: Britain's opposition Labour party plunged into turmoil Sunday and the prospect of Scottish independence drew closer, ahead of a showdown with EU leaders over the country's seismic vote to leave the bloc.Two days after Prime Minister David Cameron resigned over his failure to keep Britain in the European Union, Labour leader Jeremy Corbyn faced a revolt by his lawmakers who called for him, too, to quit.US Secretary of State John Kerry will also fly ...