USA -ECONOMY:U.S. second-quarter GDP plunged by a historic 32.9%

The U.S. economy saw the biggest quarterly plunge in activity ever, though the plummet in the second quarter wasn't as bad as feared.

Gross domestic product from April to June plunged 32.9% on an annualized basis, according to the Commerce Department's first reading on the data released Thursday. Economists surveyed by Dow Jones had been looking for a drop of 34.7%.

Neither the Great Depression nor the Great Recession nor any of the more than three dozen economic slumps over the past two centuries have ever caused such a sharp drain over so short a period of time.

Read more at:
U.S. second-quarter GDP plunged by a historic 32.9%

Britain: London’s reaction to Brexit: “A bloody disaster… we’re second division now” - by Ryan Ramgobin

London voted overwhelmingly in favour of United Kingdom to remain a member of the European Union, with 59.9% of votes cast wanting to Remain.

Seven of the ten areas with the highest share of the Remain vote were in London, with Lambeth, Hackney and Haringey, polling over 75% to stay in the bloc.

The referendum result left swathes of London shocked and disappointed.

Several believe that immigration was misrepresented in the lead up to the referendum.

One woman was dismayed with the result: “We’re one of the countries that benefit from immigration.

I think that asylum seekers and refugees are a separate issue and why would you close the door on people who are in need?”

Another Remain voter believed Leave campaigning was “almost like propaganda.”

“You open up a newspaper… there’s a picture [with the caption] ‘coming soon to a greenfield near you’ and they have pictures of these Syrian refugees…”

Read more: London’s reaction to Brexit: “A bloody disaster… we’re second division now” | UK | News | The Independent