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06.24.16 | 5:28 am

Here’s all the latest news on Brexit

Most of it isn't pretty:

Global markets remain down, with the Dow Jones Industrial Average down about 460 points, or 2.5%, and the Nasdaq down more than 3%. Gold prices, on the other hand, are up about 4.5%, and bitcoin prices have risen 2.8%.

• The Stoxx Europe 600 index closed down more than 7 percent, in the worst one-day European stock drop since 2008, MarketWatch reports. London markets closed down for the day as well, with the FTSE 100 index down 2.76%. 

Central banks around the world have taken steps to calm markets, with the Federal Reserve saying it's "prepared to provide dollar liquidity" and the Bank of England and European Central Bank issuing similar statements.

• Hopes that the U.K. government could somehow avert or delay the nation's exit from the European Union seem to have dimmed, with EU Parliament President Martin Schulz calling for the U.K. to leave as soon as possible, The Guardian reports.

Donald Trump, visiting Scotland, has praised the referendum result, which onetime rival Ted Cruz called "a wake-up call for internationalist bureaucrats from Brussels to D.C." Hillary Clinton has expressed concern about the impact on working families around the globe.

• Former London mayor, and prominent Brexit supporter, Boris Johnson could be a serious candidate to succeed Prime Minister David Cameron, MarketWatch reports.

Economists, known for supporting free trade agreements in general, have generally come out against Brexit so far.

• In a possible sign that voters didn't fully understand Brexit's meaning, "What is the EU?" has become the second-most-Googled post-Brexit question in the U.K.

Scotland, which voted 62% to 38% to stay within the EU, may seek to secede from the U.K. in order to do so, First Minister Nicola Sturgeon says, according to the BBC.

Spain, which has long claimed sovereignty over Gibraltar and is a major trading partner of the U.K. island territory, has proposed a joint sovereignty agreement after more than 95% of the territory voted to stay in the EU, the BBC reports

• While prominent banks like HSBC and JPMorgan Chase had warned Brexit would lead to reduced staffing in London, they've been less open about their plans as they reassure workers after the vote.

This post has been updated. The original post was published this morning at 5:28am EST.

U.K. Prime Minister David Cameron, who called for the referendum, has announced his resignation. He will stay in office until October when a new head of the Tory government will be selected.

David Cameron has not yet invoked Article 50 of the Treaty of Lisbon, which begins the official steps of leaving the EU. Cameron has said it will be up to his successor to invoke Article 50.

The White House has acknowledged that President Obama has been briefed on the referendum vote and they "expect the President will have an opportunity to speak to Prime Minister Cameron over the course of the next day, and we will release further comment as soon as appropriate, reports USA Today." 

• With a majority in Scotland having voted to remain in the EU in the U.K. referendum, Scotland's first minister, Nicola Sturgeon, now says that a second Scottish independence referendum is "highly likely". Earlier she said: "The vote makes clear the people of Scotland see their future as part of the European Union."

• Scotland might not be the only one to leave the U.K. Sinn Fein has announced it wants a vote on Irish reunification in the wake of a Brexit. If Northern Ireland reunifies with Ireland, it will stay part of the EU. A statement from the party said: "The British government has forfeited any mandate to represent economic or political interests of people in Northern Ireland"

• It's not just David Cameron who will soon be out of a job. Labour leader Jeremy Corbyn could face a leadership challenge as well. Many people blame his lackluster Remain efforts for the reason that Labour voters didn't turn out in droves to support the Remain camp.

Bank of England governor Mark Carney has tried to reassure the markets by announcing it will make an extra £250 billion available to the banks to try to help steady the markets.

• Speaking of the markets, at the time of this writing the FTSE 100 is down almost 5%, wiping over £100 billion off the market.

• The FTSE 250 is down 11.4%—its worst drop ever.

• Germany's DAX has fallen 7.5%.

• France's CAC 40 is down 9%.

 Italian and Spanish markets are plunging more than 11%.

Japan's Nikkei is having its worst day in 5 years with the Japanese market falling an astonishing 8% so far.

The British pound has hit a 30-year low against the US dollar.

• In a matter of hours after the referendum result was announced, the U.K. has slipped from being the 5th-largest economy in the world, to being the 6th largest. France has now surpassed it.

Leave campaigner and former London Mayor Boris Johnson left his house this morning under heavy police protection with protesters shouting "shame" at him for leading the U.K. to leave the EU:

• Bank and homebuilder stocks are taking the biggest hit, due to the belief that the British economy is in free-fall.

• A number of economists suggest that the U.K. will now enter a recession.

On social media, there is an outpouring of anger by young people towards their own parents and grandparents:

With Londoners overwhelmingly voting to stay in the EU, many are now taking to social media to demand that the capital secede from the U.K. so it can stay part of the EU.

[Image: Bill Smith]

10.25.16 | 18 minutes ago

Cops are allowed to use camera drones in Sweden, but you can’t

In a move that spells trouble for Sweden's drone industry, the country's highest court has ruled that drones with cameras affixed to them violate anti-surveillence laws. The laws don't apply to cameras affixed to ground-based vehicles like bikes or cars because they can only capture photography within the user's line of sight, Ars Technica UK reports. The ruling doesn't apply to law enforcement agencies or drone pilots who receive a special permit.

[Photo: DJI]

10.25.16 | an hour ago

MasterCard gets into chatbots and wearables

MasterCard is expanding into messaging and wearables today. At the Money2020 conference, the company announced it will be launching customizable bots for merchants and banks that will allow consumers to manage their money and shop inside Facebook Messenger. 

The company is also more firmly committing itself to baking payments into wearables and smart devices through a partnership with FitPay. Last year, MasterCard announced a program to put payment credentials into a swath of wearable devices. The partnership with FitPay will help enable MasterCard to bring these payment-enabled devices to market. 

10.25.16 | 2 hours ago

Morning intel: Trump’s nightly news show launches, Twitter reportedly cutting 300 jobs

• The FBI agents investigating the death of Eric Garner has been swapped out by the Department of Justice in favor of agents from outside New York, which could help move the case along. 

Twitter is reportedly cutting 8% of its workforce—about 300 people. An official announcement could come prior to Twitter's earnings call, which was moved up to Thursday morning

• Donald Trump's campaign debuted a nightly news show on Facebook yesterday. The show will air every night at 6:30 p.m. ET until Election Day. 

At the WSJ conference, Netflix CEO Reed Hastings said he has no problem with the AT&T-Time Warner merger as long as HBO doesn't get preferential treatment. 

• Coming up today: Apple's Q3 earnings. Here's what we're expecting to find out. We're also watching out for Chipotle earnings and an appearance by the AT&T and Time Warner CEOs at the WSJ.D Live conference this afternoon. 

10.25.16 | 2 hours ago

Why did Twitter move up its earnings release? 

Instead of posting its Q3 earnings results at the usual time—after market close—Twitter will be releasing earnings on Thursday morning at 7 a.m. ET, before the market opens. The results will be followed by the usual conference call, but this time at 8 a.m. ET. 

Twitter claims the change was made "in response to analyst requests, to avoid overlapping with several other earnings announcements in the Internet sector scheduled for Thursday afternoon." In all fairness, this is true: Amazon and Alphabet are both releasing earnings the same day, and MarketWatch says at least 10 analysts follow all three companies. 

Still, with reports swirling about job cuts and Twitter losing potential bidders, we have to wonder if the company plans to drop big news during the call. 

10.25.16 | 3 hours ago

Report: Twitter to cut 8% of workforce

According to Bloomberg, Twitter is making another round of layoffs, with plans to let go of 300 people—the same percentage cut last year once Jack Dorsey was reinstated as CEO.

This news comes after Salesforce, Disney, and Google declined to bid on Twitter and as the company prepares to release Q3 earnings on Thursday. Bloomberg reports that the job cuts could be made official prior to earnings.

[Photo: Esten Hurtle (@esten) for Twitter, Inc.]

10.25.16 | 4 hours ago

Uber’s self-driving truck startup delivers its first shipment of beer 

Autonomous trucking company Otto drove more than 100 miles between Colorado Springs and Fort Collins to make its first-ever autonomous shipment. The cargo was beer. Anheuser-Busch collaborated on the pilot trip.

Otto, acquired by Uber in August, represents the ride-hailing giant's first real foray into self-driving tech. Though the company is already developing its own autonomous vehicles, trucking will likely be the first real use case for driverless technology, because it's so much easier to automate driving on highways than city streets. The National Highway Patrol Association made way for self-driving technology in September with a fresh slate of criteria for how self-driving technology will be assessed before it hits roadways. For the Colorado trek, Otto and Anheuser-Busch worked with the Colorado Department of Transportation. "They have been intimately involved in the planning and the testing that led to the pilot," said Otto founder Lior Ron. The state patrol also helped test the technology beforehand, verifying the safety of the trucks and accompanying the truck on its route. There's no word on when Uber Freight will finally arrive, but this is a big first step.

10.24.16 | 11:18 pm

Microsoft’s Satya Nadella gets back to BASICs

Microsoft is on a roll at the moment, with its stock price having hit an all-time high last week—finally topping a record set way back in the last century. Here at the Wall Street Journal's WSJ.D Live conference, CEO Satya Nadella says that as he shapes the company's efforts, he spends a lot of time thinking about what made the company successful starting with its first product in 1975

It was a BASIC interpreter for Altair. We were a tools company. We were a company built for the hackers of the world, the makers of the world, the builders of the world. I've always felt we're best when we express that identity for changing times.

10.24.16 | 10:52 pm

Netflix’s Reed Hastings: “We’re tiny!”

I'm at the Wall Street Journal's WSJ.D Live conference in Laguna Beach, California. The very first speaker at the opening dinner is Netflix CEO Reed Hastings. A few tidbits from his conversation with the Journal's Dennis Berman:

 • The company is fine with the idea of AT&T buying Time Warner as long as HBO's bits get treated the same as Netflix's.

• The company's increasingly global scale is reflected in its show Narcos, which "is made by a French company in Bogata, Colombia, with a Brazilian star. That's what we see as the future for us."

• Netflix currently has 87 million subscribers, but in terms of its aspirations: "How many people use Facebook every day? A billion? We're tiny!" But "our goal is to make our current customers happy, and then we'll see how fast we grow."

• "Fundamentally we're about eliminating loneliness and boredom . . . that's what entertainment does."

• He's excited about The Crown, an upcoming series about the reign of Queen Elizabeth II. "If you can recognize Winston Churchill's voice, you will love this show."

• Short term, VR is mostly interesting for gaming. "You do it for half an hour, and you're exhausted."

• "We compete against YouTube, against Snapchat, against everything you do to relax." Including board games and sleep.

•  People think that Kodak blew it by not getting into digital cameras, but "the fundamental thing that Kodak offered, sharing memories, became Facebook and Instagram."

10.24.16 | 6:21 pm

Why wait until he loses? “Trump TV” is up and running.

As Donald Trump's campaign has gone further and further off the rails—all without alienating his base—some speculate that he might launch his own news channel, Trump TV, after the election is over. 

But why wait until he's officially vanquished by Hillary Clinton? Last week, just before the third presidential debate, Trump energized his supporters by going on Facebook Live and whipping them into a frenzy (and gaining 9 million views in the process). Now, Wired is reporting that starting this evening, Trump will begin nightly broadcasts on Facebook. So, get ready for the crazy. 

10.24.16 | 6:09 pm

Working women in Iceland walked off the job at 2:38 p.m. today

Encouraged by unions and women's organizations, women in Iceland walked out of their workplaces at 2:38 p.m. today to protest wage inequality. The timing is meant to coincide with the hour of the day in which women begin to work without pay compared to their male counterparts.

Although it is illegal to discriminate based on gender in Iceland, the original Women's Day Off was held on October 24, 1975 and based on current trends, it will take 52 years to reach parity.

Here in the U.S., the gender pay gap will not close until 2059.

10.24.16 | 6:08 pm

Donald Trump video game lets you grab ‘em by the you-know-what

The cats! What were you thinking?

Trump's Pussy Grabber is a whack-a-mole game that tasks you with grabbing a bunch of meowing pussycats. Of course, Donald Trump's voice from his infamous Access Hollywood video, is playing in the background the whole time. Creepy, and pretty funny.

10.24.16 | 5:22 pm

Designers and city planners converge in NYC to discuss the worst train station in the world

Nothing unifies Northeasterners more than their shared hatred of Penn Station. The unsightly midtown Manhattan transit hub is an aesthetic and logistical mess, from its cavernous underground design to its mysterious stench. 

Now a group of artists, urban planners, and architects are meeting for a two-part "public summit" to discuss the station and what can be done about it. The first part, on Oct. 25, will look at the station's legacy. (The destruction of the original station in 1963 kicked off the modern preservation movement.) The second part, on Nov. 2, will focus on the future of the station. (New York's governor has proposed moving it to a grander building across the street.) 

Either way, something has to happen. Read more about the summit here.

[Photo: Flickr user Peter Dutton]