The combined business would be owned 50/50 between shareholders of FCA and Groupe Renault.Autosread more
Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
Smartphone users in Singapore, the U.K. and China told CNBC's "Beyond The Valley" that foldable smartphones are "very strange," "super bulky," and expensive compared to the...Technologyread more
The result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
Investors are largely focused on results of the EU parliamentary elections. Euroskeptic parties in Britain and France made solid gains.Europe Marketsread more
Former Apple CEO John Sculley says this skill is vital to all great business leadership.Successread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Prime Minister Narendra Modi has to make sure that India becomes a highly competitive manufacturing hub where global investors will look to invest, the chairman of India...Asia Economyread more
U.S. President Donald Trump said Monday he expects to get the trade gap with Japan "straightened out rapidly," adding that announcements on that could come as soon as August.World Economyread more
Bitcoin surged more than 9% from the day before to hit its highest level in more than a year.Technologyread more
Mark Carney, the governor of the Bank of England, sought to calm markets this morning with a pledge to provide an extra $344 billion in liquidity. He assured markets that U.K. banks were well-funded, even as their share prices tanked. (CNBC)
Dallas Federal Reserve President Rob Kaplan joins CNBC's "Squawk Box " at 8:30 a.m. ET to talk about how the central bank sees the Brexit vote and how it might influence the future of U.S. interest rates and the outlook for the American economy.
In a statement, JPMorgan Chase (JPM) chief Jamie Dimon, JPMorgan Asset Management CEO Mary Erdoes and Daniel Pinto, JPMorgan's chief executive for corporate and investment, said there were probably challenges ahead for the banking giant. Goldman Sachs (GS) chief Lloyd Blankfein sought to calm investor nerves in a statement emphasizing the bank has a "long history of adapting to change" and had been planning for the potential consequences of this result "for many months." (CNBC)
Ratings agency Standard and Poor's said Britain's top-notch AAA credit rating was no longer tenable after voters opted to leave the EU, the Financial Times reported on Friday. Rival ratings agencies Fitch and Moody's had already stripped Britain of their AAA ratings, long before the referendum campaign began. (Reuters)
Nigel Farage, the leader of the U.K. Independence Party, who has been a prominent member of the leave campaign, claimed victory, saying June 23 would become known as the U.K.'s "Independence Day" and should be declared a national holiday. Even with the vote for Brexit, the process of actually leaving the EU could take two years or more as a series of negotiations take place for how to disentangle the U.K. from the many EU structures. (BBC & CNBC)
In the U.S., billions, if not trillions, of dollars could be called into question by the British exit: In 2014, American direct investment into the EU totaled about 1.81 trillion euros ($2.01 trillion) and about 1.99 trillion euros flowed in the opposite direction, according to the European Commission. If even a small percentage of that is disrupted, it could reverberate across the globe. (CNBC)
Although concern for the future of the EU may seem like hyperbole, nearly every member state has a political contingent in favor of leaving the union, and the successful Brexit vote may have just politically legitimized — and energized — those movements. (CNBC)
Two U.S. economic reports are out this morning, although neither is likely to get much if any attention because of the Brexit overhang: Durable goods orders for October at 8:30 a.m. ET are expected to register a 0.4 percent for May after a 3.4 percent jump in April and June consumer sentiment is expected to come in at 94.0 compared to the preliminary June reading of 94.3.
European banking stocks were already taking a hit overseas, and the ones that trade in the U.S. will be worth watching, including Royal Bank of Scotland (RBS), Credit Suisse (CS), Deutsche Bank (DB), and Barclays (BCS).
Gold mining companies were likely to get a big boost today, including Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Kinross Gold (KGC), Gold Fields (GFI), Royal Gold (RGLD), Harmony Gold (HMY) and related ETFs.
Look for oil and energy stocks to drop: Exxon Mobil (XOM), Chevron (CVX), Marathon Oil (MRO), Occidental Petroleum (OXY), Anadarko Petroleum (APC), ConocoPhillips (COP), and related ETFs.