Sterling could relapse by almost 10% against the dollar if a “no deal” Brexit becomes likely, keeping investors wary of buying UK assets, Northern Trust Asset Management said.

Italy’s prime minister-designate won wide backing from political leaders today as he worked to put together a cabinet that can steer the eurozone’s third-biggest economy through its debt crisis.

ITALY’S second austerity package in less than a month was met with a chorus of criticism a day after becoming law, with the largest union threatening a general strike over the “injustice” of the measures.