ARN News Centre

GBP in flash-crash, lowest since Brexit fall

Friday, 7 October 2016 11:43

Britain's pound has slumped after a so-called flash crash - with the UK currency already under pressure over Brexit fears. During Asian trading hours the pound crashed briefly to $1.1841, but has since recovered much of that ground. Analysts believe automated trading systems were somehow triggered, leading to a sell-off. It came after reports French President Francois Hollande is calling for 'tough Brexit negotiations'. Laith Khalaf of stockbrokers Hargreaves Lansdown says it was a short, sharp fall in pound sterling.

LISTEN

More from Business

Dubai Chambers, Standard Chartered to support global expansion of local businesses

Dubai Chambers and Standard Chartered signed a Memorandum of Understanding (MoU) to enhance collaboration aimed at fostering the growth of UAE businesses and supporting their expansion into promising global markets.
OPEC+ postpones output policy meeting to December 5

The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to December 5 from December 1 to avoid a conflict with another event, OPEC said on Thursday.
UAE, Philippines expand cooperation

The UAE and the Philippines have signed key agreements in several new areas of cooperation, including in culture, energy transition, AI, and diplomacy, during President Marcos’ working visit to the UAE this week.
Microsoft faces wide-ranging US antitrust probe

The US Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday.
UAE President chairs ADNOC board meeting, approves $80 billion investment arm

The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan has chaired the annual meeting of the ADNOC Board of Directors.