The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia were lower on Monday, as shares on a new Nasdaq-style technology board on the Shanghai Stock Exchange skyrocketed on their debut day.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The U.K.'s vote to leave the European Union (EU) will be "bad news" for the country itself more than for anyone else, according to the governor of France's central bank.
"Obviously Brexit is bad news, first and foremost for the U.K.," François Villeroy de Galhau, who also sits on the European Central Bank's (ECB) governing council told CNBC on Wednesday.
"But our priority (as central banks) is to reduce uncertainty and to foster confidence and this is what we did among central banks. The Bank of England, with the ECB and other G-7 (Group of 7) banks, helped to absorb the financial shocks (of the vote)," Villeroy said on Wednesday, speaking to CNBC in Paris.
"Our other priorities are enhancing the euro, which is our collective asset, and preparing the new negotiations between the U.K. and Europe which we know will be the key to reducing uncertainty as quickly as possible," he said.
The Brexit vote on June 23 caused widespread market turmoil in the immediate aftermath before markets appeared to rebound last week. This week, however, fears have settled in about the ramifications of the vote on the U.K., EU and wider global economy and sterling has fallen again.
In addition, investors flocked to safe-haven assets such as U.S. Treasurys, the yen and the greenback on Tuesday after three U.K. real estate funds, Standard Life, Aviva and M&G Investments halted redemptions in their real estate funds and the Bank of England relaxed regulations to encourage banks to lend out more money.
The Bank of England has said that the outlook for the U.K. is "challenging", warning in its latest Financial Stability Report published on Tuesday that that there would be a "a period of uncertainty and adjustment following the result."
The vote has also sent shockwaves through the U.K.'s political establishment, with Prime Minister David Cameron resigning, as well as prominent Brexit campaigners despite being on the "winning team."
Much to the consternation of EU leaders, the U.K. has yet to trigger Article 50 of the Lisbon Treaty, which would set in motion the process of withdrawal from the EU. Prime Minister David Cameron has said that it will be up to the next Conservative party leader and prime minister to set the ball rolling. A new leader is expected to be elected in September.
The Bank of France's Villeroy reiterated that investors needed to know the "new rules of the game," that is, the new parameters of the U.K. and EU's relationship, and that was why EU authorities were insisting on Article 50 being triggered as soon as possible. He said it was too early to know the consequences of the vote on the euro zone itself.
"Obviously they will be smaller than the consequences on the British economy. For France, I have already confirmed that our growth forecast, for 2016, is unchanged, so we have a gradual recovery in the euro zone…but all of us need more confidence and less uncertainty."
Follow CNBC International on and Facebook.