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July, 26, 2016

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Business > Europe
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.
 
With property prices in Britain predicted to plummet post-Brexit, foreign investors, especially in Asia, are already poised for a buying spree.
 
The pound edged down Thursday afternoon, coming off its highest levels against the U.S. dollar this year, as millions headed to the polls in a vote on the UK's future in the European Union.
 
The European Central Bank (ECB) has restored a key waiver that will let Greek banks tap cheap emergency central bank credit, one step toward putting the country's financial institutions fully back on their feet.
 
Political and economic uncertainty dampened eurozone private sector business activity in June, a closely watched survey showed Thursday.
 
Global equities mostly rose and the pound clawed higher Wednesday -- the eve of Britain's referendum which markets expect to result in the country voting to remain in the European Union.
 
Britain's looming referendum on EU membership will pose a severe challenge to financial markets in the coming days, the head of Germany's biggest lender Deutsche Bank said on Tuesday, urging central banks to stand ready to intervene if necessary.
 
Germany's constitutional court has rejected a challenge to the European Central Bank bond-buying program credited with helping keep the euro currency union from breaking up in 2012.
 
Automated guided vehicle
An automated guided vehicle, or AGV, is pictured at the Pasir Panjang Terminal. PSA says the fleet of such vehicles will be 30-strong by the second quarter of next year.
 
A British exit from the European Union could cause global market swings for a while. But that would soon pass. If we're lucky, that is.
 
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