Chief executives face tough decisions over how to respond to Britain"s vote to leave the European Union.
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UPDATE:ASOS have responded after fans of the brand expressed concern on social media that the online store"s website and app had been taken offline due tothe plummeting value of the British pound after the UK voted to leave the European Union yesterday.
"Yes, the site is down. This is because of a power outage at a third party data centre that hosts our servers," the brand said in a statement to Fairfax Media.
"This has impacted other businesses hosted by the centre. Our tech team are working hard to restore services which involves replacing damaged hardware. That"s why it"s taking longer to get back online. We are keeping our customers informed on social media."
British online retailer ASOS has not traded since the results of the British EU referendum were announced
As previously reported:
British online retailer ASOSis down, in what some are speculatingis a reaction to the plummeting value of the pound after Friday"s Brexit decision.
The online fashion and accessories store"s website and mobile app havebeen closed since Friday morning.
"Erm, "scuse us, we need a little time out," an error message on the website reads.
"The site isn"t currently available but we"re doing everything we can to get it back up soon!"
According to the store"s social media channels, the website is unavailable due to a tech issue.
Fans of the online storehave expressed frustration at the long downtime.
"Asos site is down... Are they leaving us too?" asked one (presumably European) Twitter user.
Some potential shoppers have wondered if the website has crashed because of international customers trying to take advantage of the pound"s falling value by buying British goods.
Others speculated the store wastaking the time to increase the pound value of their prices so as to not lose international revenue.
ASOS has not made any further statement clarifying the reason for the downtime, and has given no indication as to when its online store will return to trading.
Its safe to say Friday was kind of a dumpster fire of news. The day opened with news of the British deciding to leave the European Union. It set off all sorts of chatter, and the resignation of the prime minister of England. Normally I would ignore this kind of politics here, but given the way the rest of the day went, I view this as kind of a tone-setter.
The NFL decided on a modest little news dump earlier this afternoon with word that the league will be interviewing players mentioned in the Al Jazeera report, with interviews planned for the beginning of training camp. For those who dont remember it, the Al Jazeera report implicated Peyton Manning and others in PED. The report was a hot mess, with recanted statements leaving things completely up in the air. The NFLPA is challenging this given the questions surrounding the report.
Things got nutty at the end of the afternoon, with a report that Johnny Manziels attorney accidentally texted some rather damning content to the Associated Press. Manziels attorney apparently thought he was texting another lawyer. He mentioned doubts about Manziels ability to stay clean, and something about Manziel spending more than $1,000 at a drug paraphernalia 15 hours after a hit-and-run incident.
And why not close things off with free agent quarterback Tarvaris Jackson getting arrested.
Flooding in West Virginia leads to multiple fatalities
Gov. Earl Ray Tomblin announced 14 deaths at a news conference early in the afternoon. By Friday night, the West Virginia Division of Homeland Security and Emergency Management had increased the death toll to 23.
Trees and power lines fell as heavy rains sent creeks and rivers out of their banks late Thursday and early Friday, leaving many stranded residents waiting to be rescued.
Forty-four counties declared a state of emergency Thursday night, primarily in the southeastern part of West Virginia. Elkview, Clendenin and Frame have been hit the hardest by the flooding, officials said.
Tomblin activated 200 National Guard members to assist in eight counties and has authorization for as many as 300 more to help with the rescue and response efforts, the governor"s office said Friday.
"Together with the National Guard, our first responders, local emergency management officials and firefighters from across the state have been working around the clock, and we are deeply appreciative of their efforts," Tomblin said in the statement.
A 4-year-old boy was washed away by rapid floodwaters in Jackson County, officials said. The child was playing with his sister behind their home when he fell into what a stream that had instantly turned into a rushing current after the relentless storms. An 8-year old boy from Ravenswood was also killed in the violent storm.
Severe damage to homes and infrastructure can be seen throughout the state, residents said. At one point during the height of the storm, there were 64 active emergency calls in Kanawha County, according to county spokeswoman Brooke Hylbert.
A 1,000-year flood
The high terrain along rivers in southeastern West Virginia are exacerbating the flooding, meteorologists said.
Weather radar estimates show that more than 10 inches of rain have fallen in portions of Greenbrier County. There is a 1 in 1,000 chance of this type of rainfall happening in any given year, according to the National Weather Service.
In Kanawha County, which includes the capital of Charleston, the Elkview River crested at 33.37 feet Friday morning, meteorologists said. The river rose more than 27 feet from Thursday afternoon to Friday morning, the highest crest since record-keeping began more than 125 years ago, according to the National Weather Service.
Stranded at a shopping mall
The rain washed out an access road at Elkview Crossings Mall, leaving nearly 200 people stranded when a bridge that connects the shopping plaza to the road collapsed under the downpour, residents said.
The National Guard was building a temporary bridge to help expedite the rescue mission at the mall.
Homes washed away
Thursday night unfolded like a horrific movie for 26-year-old Chad Agner of White Sulphur Springs, in the southern part of the state.
"The flooding looked like the ocean. There were these big waves," Agner said.
As the rain intensified, Anger, who was planning to grab dinner with a friend, decided to head to his apartment instead, only to find his neighbor submerged in knee-deep water.
"The water was so high," Agner said. He decided against going inside his apartment to retrieve his belongings.
Agner said he saw the flood sweeping away homes and cars before his eyes.
"The house in front of where my apartment used to be is turned over. Some houses are totally gone," he told CNN. "My apartment is gone."
Other residents of White Sulphur Springs said the floods launched a home off its foundation and down Howard"s Creek.
Helpless witnesses said the house caught fire and was burning as it floated down the stream, which runs through the town.
Golf resort under water
Also in White Sulphur Springs, the storms severely impacted the luxury Greenbrier resort, which is set to host the PGA Tour"s Greenbrier Classic in July.
Professional PGA golfer Bubba Watson, who was at the resort when the storms hit, shared a photo and video on his Twitter account showing the grounds covered in fast-moving brown water.
Because of "widespread damage" from the heavy flooding, the resort will be closed until further notice, the Greenbrier announced on Twitter.
Resort owner Jim Justice released a statement saying that their focus is on helping the people, not "the property, the golf course, or anything else."
CNN"s Azadeh Ansari, Keith Allen, Ralph Ellis and Taylor Ward contributed to this report.
By Peter Krauth, Resource Specialist, Money Morning June 24, 2016
The gold price today (Friday, June 24) rocketed past the $1,300 mark after the results of the Brexit vote sent global markets into a wild tailspin.
As of 1:35 p.m., gold prices were up 4.6% to $1,321.10. That puts the yellow metal on track for its largest one-day gain since February and its highest close since August 2014.
The results of the UK referendum are now clear Britain has voted to leave the EU. And while the price of gold is benefiting the most from the controversial decision, markets around the world are in turmoil.
European markets all plunged on the news. The UK"s main stock index, the FTSE 100, fell 3.2% on the day, while Germany"s and France"s main indices were down 6.8% and 8%, respectively. Here in the United States, the Dow Jones Industrial Average is down 2.8%.
It"s clear the Brexit will be all everybody talks about in the coming weeks. Today, I"m going to discuss where we can expect gold prices to move in the wake of this massive frenzy.
First, here"s a recap of the gold price"s wild week
Gold Price Today Soars Following Lackluster Week
The price of gold kicked this past week off with a session of volatility. On Monday, June 20, prices fell 0.1% to close at $1,290.
Gold"s headwinds blew even stronger the following day. The metal immediately dropped by nearly $20 to $1,271 when markets opened. Gold prices eventually closed at $1,268 and logged a loss of 1.7%.
Wednesday was more of the same, though less dramatic. Gold traded flat throughout the day and closed just 0.2% lower at $1,266.
For comparison, here"s how the U.S. Dollar Index (DXY) has been trading this week
Notice how both the price of gold and the U.S. dollar declined on Wednesday. Remember, this kind of short-term behavior where both move in tandem is not typical.
This pointed toward an easing of fear regarding the likeliness of the Brexit vote producing a win for the "Leave" side.
Yesterday, the polls opened and British citizens voted on whether or not their country would leave the EU. During the day, gold prices trended lower and closed at $1,263.10 for a 0.2% loss. Again, this movement showed how investors were anticipating the country to remain in the bloc.
Then, the UK shocked the world with a Brexit, sending the gold price today to its highest level since 2014.
With today"s rally, investors want to know if gold prices will maintain these gains in the coming months.
Here"s my specific gold price target following the Brexit results
Despite the Rise in the Gold Price Today, This Is Where It"s Headed
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About the Author
Peter Krauth is the Resource Specialist for Money Map Press and has contributed some of the most popular and highly regarded investing articles on Money Morning. Peter is headquartered in resource-rich Canada, but he travels around the world to dig up the very best profit opportunity, whether it"s in gold, silver, oil, coal, or even potash.
BUFFALO -- The Blues traded goalie Brian Elliott to Calgary in exchange for the Flames second round pick, the 35th overall.
The Blues traded up to get the 26th pick in the draft from the 28th spot and took center Tage Thompson from the University of Connecticut. He"s 6-6, 194 pounds, who scored 14 goals as a freshman. The Blues also gave up a third-round pick along with the 28th pick.
Elliott was the Blues" goalie in the playoffs, but was the No. 2 goalie in the first half of the season when he and Jake Allen were both healthy. Elliott was going to be an unrestricted free agent after the 2016-17 season. Allen is now the clear No. 1 goalie for the Blues.
"I"m ready for it," Allen said Friday night. "I feel like I"ve had two really good years. I felt that this year I was a lot better than I was my first year. I just want to progress again. I"m looking forward to it. If I get the full opportunity, it"s going to be fun. I think that"s when I play my best, when I play all the time, and hopefully that can be the situation. The last three years with Brian I learned a lot. I couldn"t have asked for a better partner."
If Elliott re-signs with Calgary or is traded, the Blues will get a third-round draft pick in 2018 as well.
He had a 2.07 goals-against average and a .930 save percentage in the regular season. He had a 2.44 GAA and a .921 save percentage in the playoffs.
The Blues now need a No. 2 goalie. They can re-sign Anders Nilsson, a restricted free agent, give the job to minor-leaguers Pheonix Copley or Jordan Binnington or acquire another one elsewhere. The move potentially saves the Blues about $1.5 million against the cap, assuming his replacement makes about $1 million.
Elliott is the franchise leader in shutouts with 25, save percentage (.925) and GAA (2.01).
Matthew Tkachuk made St. Louis hockey history on Friday night, being taken by Calgary with the sixth pick, making him the first player from the region to be chosen in the first round of the NHL draft.
Tkachuk was projected to go fourth in most pre-draft projections, but two surprising picks ahead of him left him in position to be taken by Calgary.
"It was awesome, especially with my dad (former Blue Keith Tkachuk) and my mom and brother and sister ... it was so special," Matthew Tkachuk said. "I told my brother to get a picture of it, so hopefully he got that. My mom, she was starting to cry and my dad, he was just saying how proud he was and how much he loved me."
Tkachuk, the former Blue, was asked about his son, Matthew.
"He has some similarities," his father told NBCSN. "One thing he has is a good head on his shoulders. He makes good plays. It"s a proud moment for the whole family right now."
Keith was the 19th pick in the draft, so Matthew gets bragging rights. "He"s got bragging rights, he deserves it," Keith said. "He"s better. He always wanted to come to the rink. He put the work in. It"s paying off right now."
Another St. Louis player, Clayton Keller, was taken with the seventh pick by Arizona, one pick behind Tkachuk.
"I grew up playing on the same line and we had tons of success as younger kids, so it was awesome to see us picked back-to-back," Keller said. "He"s a great friend of mine and I"m just really happy for him. It"s just something that you dream about and work so hard for. It"s awesome to finally get this feeling."
Keller may still go to college at Boston University and delay going to juniors.
The third St. Louis player to get chosen was center Logan Brown, who was taken with the 11th pick by Ottawa, which traded up a spot to get him. Brown"s father, former Blue Jeff Brown, is coaching the junior team in Ottawa.
Then with the No. 15 overall pick, Minnesota selected forward Luke Kunin. At that point, six Americans had been taken, and four were from St. Louis and each had played for the AAA Blues. Kunin said he will play one more year at Wisconsin before starting his professional career.
"It"s a big moment for St. Louis and I hope a few more come," Tkachuk said. "It"s a huge day for St. Louis hockey. I hope they"re watching back home. I know they are."
Added Keller: "It"s unbelievable. I think four of us could be picked in the first round. So it"s awesome to see that."
St. Louis had a fifth player go in the first round when Boston took Trent Frederic with the 29th pick. A record 12 Americans went in the first round, with almost half of them from St. Louis.
With the first pick, Toronto, as expected, took center Auston Matthews, who"s from Arizona but has been playing in Switzerland. He"s the seventh American to go No. 1 in the draft. Last American to go No. 1 was Patrick Kane by Chicago in 2007. The year before that, the Blues took Erik Johnson.
There were two trades. Chicago sent Andrew Shaw to Montreal for two second round picks. Washington sent Lars Eller, once a Blue, to Montreal for two second-round picks, one in 2017 and one in 2018.
With the second pick, Winnipeg took right wing Patrik Laine from Finland. (He"s Finnish, so it"s pronounced Line-Ay, not Lane.) Columbus made a surprising move by taking left wing/center Pierre-Luc Dubois with the third pick. He was expected to go a few spots later. That let right wing Jesse Puljujarvi fall to Edmonton at No. 4, where many people thought Tkachuk might go. Vancouver then took Olli Juolevi, a defenseman with Tkachuk"s London Knights junior team.
Rutherford reported from Buffalo and Timmermann from St. Louis.
Thats right people, ASOS is down and people are absolutely freaking out.
Following the news that Britain have voted to leave the EU and theprice of the British pound has plummeted people suspect that ASOS is down because of this.
Although the popular site has been down since yesterday, people are still speculating that its got something to do with Brexit and they are NOT taking it lightly.
A bid for "safe-haven" assets early on Friday saw 10-year U.S. Treasury note yields hit a low of 1.406 percent, its lowest since July 26, 2012. The yield recovered to near 1.49 percent as of 6:57 a.m. ET.
The 2-year yield hit a low of 0.499 percent, its lowest level since April 17, 2015.
Spot gold prices rose about 5 percent to near $1,327 an ounce, after earlier hitting its highest in more than 2 years.
Brent and WTI crude futures for August fell about 5 percent, to around $48.28 a barrel and $47.63, respectively.
U.S. stocks closed more than 1 percent higher on Thursday, with the pound near year-to-date highs against the dollar, as expectations rose that the U.K. would vote to remain in the EU.
