The risk of another global recession escalated Friday after Britain's stunning decision to leave the European Union plunged financial markets into free fall and tested the strength of the safeguards put in place since the last downturn seven years ago.
The United Kingdom's decision to pull out of the European Union is sending global markets sharply lower. But the pain is being felt hardest by a handful of companies most exposed to the decision.
NEW YORK Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday his firm sold all of its European equities holdings before the market closed on Thursday, following a strong rally in global stocks.
The European Union is one of the greatest political accomplishments of our time. Too bad its supporters don't say so. By Joshua Keating.
Billionaire Kelcy Warren just won a huge hand in the biggest M&A poker game he's ever played in the U.S. oil patch. Eighteen months after Warren's Energy Transfer Equity LP began talks to acquire rival pipeline giant Williams Cos.