Yellen avoids being overly alarmist about probable global impact of Brexit
Washington
FEDERAL Reserve chair Janet Yellen sought to avoid taking sides or being overly alarmist about the probable global fallout should Britain exit the European Union (EU), even as she reiterated that such an event could have "significant economic repercussions". "I don't want to overblow the likely impacts," she told the Senate Banking Committee on Tuesday, adding that she didn't expect the US economy to fall into a recession if the UK leaves the EU.
UK citizens go to the polls on Thursday to decide whether to remain in the 28-nation bloc, with surveys suggesting that the outcome is too close to call. Billionaire investor George Soros has warned that the pound may slump more than 20 per cent against the dollar if s…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US