Deals Worth Billions Put On Ice After Brexit

The UK's vote to leave the European Union has triggered the cancellation or postponement of billions of pounds-worth of corporate deals amid uncertainty about Britain's economic outlook. Information about NewDay was supposed to be circulated to prospective buyers of the company, which was expected to be valued at about £1bn, within the last fortnight. However, prospective buyers said on Sunday that Varde Partners, NewDay's owner, had decided to temporarily abort the process.