Italian bank crisis may be collateral damage from Brexit

Here is the latest Economic News from CNN Money.

Italian bank crisis may be collateral damage from Brexit
Italian Prime Minister Matteo Renzi tells CNN he will do everything necessary to secure the country’s banks.

20 stocks to buy after Brexit chaos
Investors are already sifting through the Brexit market rubble for opportunities. Morgan Stanley compiled a list of highly-rated stocks that have limited or no direct exposure to the situation in the U.K.

U.S. economic outlook lowered after Brexit
Economists are already starting to notch down their U.S. economic outlook after the Brexit vote last week.

Brexit will mean higher taxes, less spending for U.K.
George Osborne has no doubt: The U.K. will “absolutely” have to cut spending and raise taxes following its vote to leave the EU.

Are central banks ‘powerless’ to handle Brexit fallout?
The fallout of the UK referendum vote to leave the European Union undercuts central banks’ ability to buoy the global economy.

Blacks still far behind whites in wealth and income
Read full story for latest details.

No way Trump will cause a recession, adviser says
One of Trump’s advisers is firing back at the Moody’s Analytics ‘hit piece’ that claimed the GOP candidate’s plans would throw the U.S. into a recession.

Can globalization survive ‘Brexit’ and Trump?
Brexit is a major wake up call for world leaders. Trade and globalization are under fire. CNNMoney looks at what it will take for the global economy to triumph.

Brexit’s broken promises: Health care, immigration and the economy
Leading backers of Brexit are backing away from campaign promises, fueling a sense of confusion after the U.K. voted to leave the European Union.

Brexit hangover: 3 huge headaches facing the U.K.
Read full story for latest details.

Pound dropping again as Brexit impact sinks in
The British pound is sinking again as investors continue to digest the impact of the U.K.’s historic vote to leave the European Union.

Fiscal showdown: Clinton vs. Trump on spending, taxes and debt
Both candidates would increase the country’s debt, but Trump would do so “massively,” according to a new analysis.

Brexit’s existential threat to Europe
Europe is already weak and divided. Britain’s vote to leave the EU just makes matters much worse.

How Brexit impacts the U.S. economy
The U.K. voted to leave the European Union on Thursday. The vote could affect Americans in a litany of ways.

British Millennials: You’ve stolen our future
Read full story for latest details.

Will Britain’s European workers get the boot?
The British decision to leave the European Union has left millions of European citizens in limbo in the U.K.

Brexit: Is this like the 2008 financial crisis?
The shocking vote by Britain to leave the European Union is creating global market turmoil. Could this be the start of another market meltdown like the collapse of Lehman Brothers in 2008? Or a temporary blip like 1987 or 2011?

Brexit shock vote: What you need to know
Britain has voted to leave the European Union, a shocking development with profound implications for markets and economies around the world.

Britain’s ‘Black Friday’ is here. Now what?
The pound is crashing and stocks are tanking after the U.K. voted to leave the European Union. But what happens next and why does it matter?

New Jersey passes $15 minimum wage … but Gov. Christie may veto
Despite legislative approval, the bill faces a likely veto by Gov. Chris Christie. In that case, proponents plan to put the decision to voters on the 2017 ballot.

Uh-oh. Is the stock market a bubble again?
Fed chair Janet Yellen didn’t go so far to say that the market is irrationally exuberant like her predecessor Alan Greenspan once did. But she did point out that valuations are high. It’s time to be careful.

OPEC oil revenues slump to 10-year low
Oil export revenues for OPEC’s 13 member countries have slumped to their lowest level since 2005.

Investors bet Britain will remain in the EU
The pound and stock markets are rising as the U.K. votes whether to stay in or leave the European Union.

Asian millionaires now the wealthiest in the world
Asian millionaires now control more wealth than their peers in the United States and other parts of the globe.

Hillary Clinton’s 5 ideas to fix the U.S. economy
Hillary Clinton laid out detailed plans Wednesday on the 5 key proposals she has to boost economic growth and create jobs.

Donald Trump says the whole economy is ‘rigged’
Donald Trump is trying to woo Bernie Sanders supporters. On Wednesday, he said the ‘whole economy’ is ‘rigged,’ a line Sanders often uses.

Brits hoard dollars and euros as Brexit vote looms
Brits are rushing to buy foreign currencies ahead of the EU referendum on Thursday, worried the pound could crash.

Rio gets huge Brazil bailout weeks before Olympics
The state of Rio de Janeiro is set to receive an $850 million federal bailout just seven weeks before the Olympic Games begin.

11 million Americans spend half their income on rent
The number of people spending half their income on rent hit a record high in 2014, according to the Joint Center for Housing Studies of Harvard University.

Voters trust Trump over Clinton on economy
When it comes to the economy, Donald Trump is the preferred choice of American voters, according to the latest CNN/ORC poll.

The facts about Brexit and immigration
Immigration will be the deciding factor for many Brits when they vote in this week’s EU referendum.

California faces summer blackout risk amid gas shortage
Southern California’s already-strained electric grid faces even more pressure during this summer’s heat waves due to a natural gas shortage.

Janet Yellen: Fed low on options to handle another recession
Federal Reserve Chair Janet Yellen admitted Tuesday to Congress that the Fed’s typical options to handle a recession are largely unavailable.

Trump’s plan would cause 3.5 million job losses, Moody’s says
Electing Donald Trump president would be terrible for the economy, according to a new report from Moody’s Analytics.

Why you should care about the Brexit vote
The U.K. referendum on the European Union is this week. Here’s why Brexit matters beyond Britain.