Afternoon Coffee: The Pound Plunges, and Oil Surges

Sasajo/Adobe Stock

The pound plunged Monday, hitting its lowest level against the dollar in almost seven years following concerns that Brexit might become a reality. The British currency fell as much as 2.4% at one point, adding to losses over previous months.

Oil, on the other hand, surged as much as 7%, after the International Energy Agency (IEA) projected U.S. shale production to fall this year and next. Global stock markets rose on the news, but analysts warned the overall market outlook for the industry remains weak.

In tech news, Yahoo is for sale and will begin approaching potential corporate and private equity buyers, according to Bloomberg. Interested parties include Verizon, Comcast and AT&T, as well as Bain Capital, KKR and TPG.

And finally, authorities in Kalamazoo, Michigan, are investigating a 45-year-old man suspected of killing six people over the weekend while also working as an Uber driver. The ride-sharing company confirmed the man, Jason Brian Dalton, was a driver for the service and had passed the company’s background check.

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