TOP STORIES 
 
DOW INDUSTRIALS PLUNGE ON 'BREXIT' 

U.S. stocks fell sharply Friday after Britain's vote to leave the European Union battered the British pound and sent stocks in Europe and Asia tumbling.

U.K. REJECTS EUROPEAN UNION 

Britons' startling vote to leave the European Union rattled financial markets and threatened to weaken an already strained continent, instantly reshaping Britain's political scene as Prime Minister David Cameron, who led the Remain effort, announced he would step down.

WORLD'S CENTRAL BANKS TRY TO CALM NERVES FOLLOWING 'BREXIT' VOTE 

The world's central banks moved to calm financial markets in the wake of the U.K.'s decision to exit the EU, pledging to provide cash to banks and deploy all the tools in their arsenals to maintain stable prices and safeguard the stability of the financial system.

FED: SWAP LINES OPEN TO ADDRESS PRESSURES IN GLOBAL FUNDING MARKETS 

The Federal Reserve said its swap lines with other central banks are open to provide liquidity to foreign financial institutions as a way to calm volatility in financial markets.

NO TRADING OR LIQUIDITY PROBLEMS AT J.P. MORGAN FROM 'BREXIT' 

J.P. Morgan was scrambling through the night to deal with frantic trading and panicky markets, but the surge hasn't led to trading or liquidity problems at the bank.

UNITED, ATTENDANT UNION NEGOTIATORS REACH TENTATIVE CONTRACT DEAL 

The Association of Flight Attendants union said that its negotiators reached agreement with United Continental on a tentative collective bargaining agreement.

OBAMA: U.S. RESPECTS U.K. 'BREXIT' VOTE 

President Barack Obama said the U.S. respects Britain's decision to leave the European Union, an outcome he had personally campaigned against during a trip to London in April.

U.S. DURABLE-GOODS ORDERS FELL 2.2% IN MAY 

American businesses were pulling back on purchases of new equipment even before the U.K. vote to exit the European Union rocked global financial markets, a sign of corporate caution that will likely continue to act as a brake on the economy.

U.S. CONSUMERS LESS OPTIMISTIC IN JUNE 

U.S. consumers grew less optimistic in June-with the University of Michigan consumer sentiment index falling to 93.5 from May's 94.7- suggesting spending could slow in the next year.

CHINESE COMPANY DEFENDS CASE AGAINST APPLE 

The lawyer for a Chinese company that won a patent ruling against Apple Inc. said his client has no intention of affecting either the U.S. tech giant's product sales or reputation.

MORGAN STANLEY SAYS NO PLANS TO MOVE EMPLOYEES FROM U.K. 

Morgan Stanley's top executives moved to quell rumors the Wall Street firm would move employees from its U.K. offices in the wake of that country's historic vote to exit the European Union.

JAPAN'S FINANCE MINISTRY, BOJ THREATEN ACTION ON YEN 

Japan's Finance Ministry and the Bank of Japan said that they will take "appropriate measures" on the yen if necessary, in a veiled threat of direct intervention in the currency markets.

QUALCOMM SUES ALIBABA-BACKED SMARTPHONE MAKER 

Qualcomm is suing Meizu Technology, a Chinese smartphone maker backed by Alibaba Group Holding, in the latest patent-infringement case involving technology companies.

IAG ISSUES PROFIT WARNING AFTER U.K. VOTES TO LEAVE EU 

International Consolidated Airlines Group SA, which owns British Airways and Iberia, on Friday issued a profit warning after the U.K. voted to leave the European Union.

SKULLCANDY AGREES TO BE ACQUIRED BY INCIPIO 

Headphones maker Skullcandy agreed to be acquired by consumer-technology provider Incipio for $177 million.

STEVEN COHEN'S DEPUTY QUITS TO RUN BOSS'S NEW HEDGE FUND 

Perry Boyle, a deputy to the former SAC Capital chief, will move to Stamford Harbor Capital as it prepares to potentially manage outside money in January 2018. Cohen last January agreed to a two-year ban on supervising a registered fund.

FINISH LINE REPORTS 30% SLIDE IN PROFIT 

Finish Line became the latest retailer to cite a challenging retail landscape for sharply lower quarterly earnings.

EUROPEAN BANKS TAKE BEATING AFTER 'BREXIT' VOTE 

European banks took a beating in early trade, with Barclays PLC down nearly 30% at one point and other investment banks also suffering from widespread market uncertainty after the U.K. voted to leave the EU.

JAPAN'S ABE VOWS TO ENSURE FINANCIAL STABILITY POST-'BREXIT' 

Japanese Prime Minister Shinzo Abe promised to take robust measures to deal with financial market turmoil after the U.K. voted to leave the European Union.

ECB READY TO PROVIDE LIQUIDITY AFTER BREXIT VOTE 

The European Central Bank said it is closely monitoring financial markets in the wake of Britain's historic vote to exit the European Union, and stands ready to provide additional liquidity in euros and foreign currencies.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
U.K. News 
BRITAIN FIRES A SHOT HEARD 'ROUND THE WORLD 
 

To their many critics at home and abroad, the 17.4 million people who voted to take Britain out of the European Union on Thursday represent a curiously, and mostly contemptible, British stereotype, writes Gerard Baker.

 
Central Banks 
'BREXIT' VOTE MEANS MORE FED DELAY 
 

Market mayhem and the strengthening U.S. dollar following Britain's decision to leave the European Union make it increasingly likely the Federal Reserve will delay plans to raise short-term interest rates, WSJ's Jon Hilsenrath writes.

(END) Dow Jones Newswires

June 24, 2016 13:03 ET (17:03 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.