Brexit and Banking: Uncharted Waters Ahead

The British referendum to exit the European Union has sent shock waves around the world, causing the value of the pound to fall sharply and causing financiers to think of replacing London as the capital of the economic world. ABF Journal contributor Hugh Larratt-Smith speaks to ABL lenders to evaluate the impact of Brexit on asset-based lending.

Bloomberg: Brexit Increasing Recession Risk

Bloomberg reports that the British decision to leave the European Union is increasing the risk of economic recession in the UK.

Bloomberg: Brexit Hits U.S. Bank Profits, Bonuses

Bloomberg reported that the combined Q2/16 net income of the six largest U.S. banks is expected to drop 18% year-over-year, resulting in bonus cuts.