Brexit aftermath

Gloom and hope for the future in UK tech

And the message from a survey carried out by Tech City UK is pretty gloomy - though the organisation itself sees some reasons for optimism.

Tech City UK got responses from more than 1,200 members of the tech community. Questioned in the immediate aftermath of the referendum, 74% of them said they thought the economy would get worse, not better.

Tech companies blame price rises on Brexit vote

Another company, used by several camera equipment-makers to bring their goods to the UK, has also revealed it will soon follow suit.

Intro 2020 said it had been "punched in the stomach very hard" by sterling's drop after the Brexit referendum.

Experts predict further price rises.

The pound hit a fresh 31-year low against the dollar earlier on Wednesday - it has dropped more than 12% since the eve of the Brexit referendum result.

Nato summit: Obama expects UK to continue Europe security role

"I have no doubt that the UK will remain one of Nato's most capable members," he told the FT as alliance leaders gather for a summit.

The meeting will focus on the perceived threat from a resurgent Russia.

But it has been overshadowed by the UK's vote to leave the EU.


Obama warns on Brexit talks

Mr Obama met European Council President Donald Tusk and European Commission President Jean-Claude Juncker on Friday and told a news conference that the Brexit vote had created uncertainty over the future of European integration.

Tory leadership: Theresa May says voters want more than 'Brexit PM'

The home secretary promised to bring the Remain and Leave sides together and "govern for the whole country".

But Andrea Leadsom and Michael Gove both said the winning candidate must have backed Brexit.

Candidates have been setting out their stalls in a series of interviews.

Mr Gove, the justice secretary, defended his tactics in the face of criticism, telling Andrew Marr it would have been a "betrayal of this country" if he had allowed Boris Johnson to run.

Australians focus on Brexit impact ahead of election

For the most part, it is not this weekend's federal election, but a monumental vote far away in the United Kingdom.

"Now that exit [or] whatever you call it has happened in Europe it is a bit of a worry over here," said Peter Evans, a middle-aged voter from the nearby suburb of Freshwater.

"We're not sure what is going to happen, but we've got troubled times ahead."

Wall Street, European markets recover post-Brexit

Bank of England governor Mark Carney said the central bank would probably need to boost stimulus for Britain's economy in the months ahead.

That announcement put further pressure on the pound, sending it down 1.4 per cent to $US1.32.

The European Central Bank said it may need to expand the scope of its bond purchasing program in order to provide extra stimulus within the eurozone.

By the close, the Dow Jones Industrial Average gained 1.3 per cent to 17,929.

Brexit: Obama warns on global growth after UK vote

He said Brexit would "freeze the possibilities of investment in Great Britain or in Europe as a whole".

He appealed to the UK prime minister and other EU leaders to ensure an orderly process for the British exit.

Earlier EU leaders warned that the UK must honour the principle of free movement of people if it wants to retain access to the single market.

The leaders of the other 27 EU countries were meeting in Brussels without the UK for the first time in more than 40 years.

Brexit blamed for world's largest uncut diamond failing to sell at London auction

The Lesedi La Rona, a 1,109-carat, tennis ball-sized gem found in Botswana, had been predicted to sell for over $US70 million ($90 million).

But the Sotheby's auctioneer failed to persuade bidders to go above $US61 million for the jewel, which was discovered in 2015 by the Lucara Diamond Corp.

"Though widely admired in the months preceding this evening's auction, and despite having seen bidding in the salesroom, the Lesedi la Rona failed to reach its reserve price and consequently did not find a buyer tonight," Sotheby's said in a statement later.

Brexit: EU says no compromise on freedom of movement

European Council President Donald Tusk said the UK could not pick and choose.

The French and German leaders also made clear that the freedom of movement of EU citizens was non-negotiable.

Immigration to the UK, particularly from poorer EU countries, was a key issue in the referendum campaign.

Some campaigners for Leave sent a clear message that the vote was about controlling immigration levels.

Outgoing UK Prime Minister David Cameron said that the issue of freedom of movement would be for the next PM and government to decide.

Brexit: Cameron tells Corbyn to step down 'for heaven's sake'

"It might be in my party's interests for him to sit there, it's not in the national interests and I would say, for heaven's sake man, go," Mr Cameron said to Mr Corbyn in British Parliament.

Labour MPs voted against Mr Corbyn in a no-confidence motion by 172 to 40, after dozens of members of his frontbench team stepped down in recent days.

But Corbyn has refused to go.