By Shinichi Saoshiro and Ian Chua
TOKYO/SYDNEY, June 28 (Reuters) – The dollar and yen steadied and sterling crawled away from a 31-year low on Tuesday as risk aversion triggered by the shock of Brexit eased slightly, although many investors were still wary of calling a bottom for the battered pound.
Linker was joined by a number of former England players in eviscerating Hodgson’s players.
“England – pathetic, shocking, inept,” was Alan Shearer’s verdict, while Peter Crouch, who played at two World Cups, was also scathing. “Iceland looked more organised than us. It’s embarrassing, there’s no dressing it up,” he said on British TV.
Former Arsenal and England striker Ian Wright joined the chorus of discontent. “They did not perform today. They were rubbish in this game. Rubbish,” Wright said on ITV.
With members of the Royal Family regularly undertaking official overseas visits in support of UK interests, there is speculation Charles could be pressed into action by a future government to make foreign trips in support of new UK trade agreements.
By Henning Gloystein
SINGAPORE, June 28 (Reuters) – Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe’s biggest producer, although Britain’s vote to leave the European Union was still weighing on markets.
Just days after Britons had voted to leave the European Union in a referendum that sent shockwaves around the world, England’s footballers managed to deliver a European exit of their own in Nice almost as stunning.
Fans leaving the stadium in Nice appeared dazed. “We’re a country of about 60 million,” one said, “and that’s the best we can do? It’s a joke.”
Some observers said this was England’s worse result since losing to the United States in the World Cup in 1950, while others pointed to their thrashing by Hungary in 1954. All agreed one thing though — this was very bad, and gallows humour was flooding the internet almost instantly.
The energy group retreated 2.7 percent, while industrials fell 1.6 percent and technology stocks lost 2.7 percent.
The materials group, which includes precious and base metals miners and fertilizer companies, was marginally lower. (Reporting by Alastair Sharp; Editing by Phil Berlowitz)
It rose 0.7 percent on Monday. * U.S. gold was up 0.2 percent at $1,327.90. * Bullion rallied 8 percent to $1,358.20 at one stage on Friday, the highest price since March 2014, and ended up 4.8 percent, its biggest one-day gain since January 2009 as the British vote sparked sales of riskier assets.
David Cameron is to face leaders of other EU states for the first time since the referendum vote for Brexit, as he travels to Brussels for what is likely to be his last European Council summit as Prime Minister.
South Korea’s Fair Trade Commission (FTC) is investigating “some matters” relating to tech giant Apple Inc, the head of the anticompetition body said during a parliamentary hearing, without disclosing further details.
Speaking at the hearing on Tuesday, FTC Chairman Jeong Jae-chan declined to comment on the specifics of the regulator’s investigation when asked to do so by a South Korean lawmaker.
Domestic media reports said earlier this month the FTC was reviewing details of the U.S. firm’s contracts with South Korean mobile telecoms carriers.
Apple didn’t immediately respond to a Reuters request for comment.
What Will Brexit Mean for My Investments?
World markets were spooked when Mr. Cameroon announced the date of the referendum. According to Goldman Sachs, sterling will collapse by 20% whereas the stock market is expected to fall by 30%, which in turn will impact pension investments and ISAs. As per David Coombs, head of multi-asset investment at Rathbones Unit Trust Managers, “Brexit is the biggest macro risk affecting our strategy. This is more important than a spike in the oil price or a US interest rate rise. The reason this is so important is that while Brexit is unique to the UK, the contagion risk is high. Where the UK leads, the Poles or the Dutch may follow. If you are an American, Chinese or Indian company thinking about where to put your new plant, would you put it in Sunderland or Leicester when you don’t know whether the UK is in or out of Europe? As such, foreign direct investments (FDI) may pause while people wait to see what the mood is.”
“It would be unwise to force a rapid departure. It would be prudent to give Britain time,” he told parliament. “There is a serious economic problem that could hurt the financial position of Britain and have consequences for the rest of Europe.”
He said he preferred the process to happen “as soon as possible” but did not give a time frame.
British companies have stopped investing and London risks losing its strong financial position, with banks considering relocating to other European cities, he said.
“We can’t assume that the current system would continue,” Scott said, “but what would be put in its place, many of us have no idea.”
Under the terms of the Lisbon Treaty, the U.K. has two years after it notifies the European Council of its intent to withdraw to negotiate a new agreement governing its future relations with the union. As the BBC reports
, the referendum is not legally binding on Parliament, which must take action in order to initiate the U.K.’s separation from the E.U.
The University of Cambridge’s vice chancellor, Leszek Borysiewicz, who was among the signatories of the open letter opposing Brexit, issued this statement
Friday morning: “We note this result with disappointment. My position on this issue is well-known, but 52 percent of voters in the referendum disagreed. We will work with our partners in business, research and academia, as well as our European partners and the government, to understand the implications of this outcome.”
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