Review of financial and economic press: Standard & Poor's downgraded the credit rating of UK

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Germany's finance minister: Brexit is a permanent decision

After the decision to withdraw from the European Union there is no turning back siad the German Finance Minister Wolfgang Schäuble. "I do not think that this decision is reversible", - the politician said. "There is a feeling that the British themselves repent, but it is useless - they should have thought of that before," - said Schäuble. The Minister also expressed the hope that London will soon transmit the formal request to withdraw from the EU, the so-called Brexit.

Standard & Poor's downgraded the credit rating of the UK

International rating Standard & Poor's downgraded the credit rating of the UK on Monday, June 27th. The maximum AAA rating was lowered to AA as a consequence of the outcome of the referendum on the withdrawal of Great Britain from the EU, but economists do not exclude the possibility that it could fall even lower. "In our opinion, this is a landmark event that will lead to less predictable, less stable and less effective policy framework in the UK", - said in a statement the agency. The negative outlook reflects the economic risks and the future of the pound sterling as a reserve currency, the expert said.

EU expect formal Brexit

In Berlin was held a meeting with German Chancellor Angela Merkel, the President of France Francois Hollande and Italian Prime Minister Matteo Renzi. The leaders discussed the future of the European Union following the decision of the British withdrawal from the EU.

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Total will develop the largest oil field in Qatar

The French oil company Total has been selected to develop the largest oil field in Qatar, Bloomberg writes. It is noted that Total has won a 30% stake in partnership with Qatar Petroleum. The two companies will create a new company, North Oil Co. for Shaheen field development in the next 25 years.

TransCanada filed a lawsuit against the Obama administration for $ 15 billion

The energy company TransCanada filed a lawsuit against the US government claiming $ 15 billion due to the fact that the US authorities blocked the construction of the Keystone XL oil pipeline under the North American Free Trade Agreement (NAFTA), writes The Daily Caller.

US rely on negotiations for a free trade issue after Brexit

The White House is counting on the completion of negotiations on a Transatlantic Free Trade Area (TTIP) said White House spokesman Eric Schultz. He noted that negotiations with the United Kingdom will be held separately, but not with a clean slate.

Cameron: Scotland will retain access to the markets of the UK and EU

British Prime Minister David Cameron said that Scotland will retain access to both the British and the European market after Brexit, according to RIA "Novosti".

RBC

Bank of China lowered the yuan to the lowest levels in five and a half years

Bank of China lowered the RMB exchange rate to its lowest level in the last five and a half years, Reuters reports, in early trading China's central bank set the yuan's exchange rate to the level of 6.6528 dollars, which was the lowest level since December 2010.

Volkswagen will send $ 15 billion to settle "diesel scandal"

Volkswagen will provide $15 bln for the settlement of the "diesel scandal", according to Reuters, citing two sources familiar with the situation. Slightly more than $ 10 billion will be allocated to owners of cars on the buy-back system, another $ 5 billion will be sent to a special fund created to compensate for the emissions consequences. Representatives of the US and Volkswagen declined to comment.