…the uncertainty continues.

Pound slump continues in Asian trading.

The pound has fallen in early trading in Asia on Monday, adding to Friday's record one-day decline. Sterling was trading at $1.3443, down more than 2% from Friday's close. Against the euro it was trading at €1.2165, down 1.3%. On Friday the pound had its biggest one-day fall against the dollar, at one stage sinking as low as $1.3236. Some traders are betting that the pound still has further to slide. Jeremy Cook, chief economist at World First, said: "We are still looking for another 10% fall for the pound against the dollar in the coming months as data confirms the economic slowdown and monetary policy expectations increase."

EU spells out procedure for UK to leave.

The European Union has clarified the way the UK can kickstart formal negotiations to exit the bloc following Thursday's referendum. It says Britain can trigger Article 50, which sets a two-year deadline for a deal, by making a formal declaration either in a letter or a speech. UK PM David Cameron has said he will step down by October to allow his successor to conduct the talks. But EU foreign ministers have urged Britain to start the process soon. Since Thursday's vote there has been intense speculation about when, and how, the UK might begin formal negotiations.

France and Germany 'in agreement' over UK's EU exit.

German Chancellor Angela Merkel and French President Francois Hollande have said they are in "full agreement" on how to handle the fallout from the UK's decision to leave the European Union. Mr Hollande warned that "separated, we run the risk of divisions, dissension and quarrels". The two will hold talks later in Berlin amid a flurry of diplomatic activity in the wake of so-called "Brexit".

Many companies plan to impose Brexit hiring freeze.

Many companies are likely to impose a hiring freeze following Britain's vote to leave the European Union, according to a leading business group. The Institute of Directors (IoD) surveyed 1,000 of its members and found that a quarter planned to freeze recruitment. The results suggested that almost a third would keep hiring at the same pace, with 5% planning to cut jobs. Almost two-thirds said the vote was negative for their business. "We can't sugar-coat this - many of our members are feeling anxious," said Simon Walker, director-general of the IoD. "A majority of business leaders think the vote for Brexit is bad for them, and as a result plans for investment and hiring are being put on hold or scaled back."

UK loses top credit rating from S&P.

The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector". Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. The move comes after chancellor George Osborne said the UK will face the future "from a position of strength". Speaking earlier, in an attempt to restore calm to the markets, the chancellor said the economy would need to "adjust" but was strong enough to cope. S&P had been the only major agency to maintain a AAA rating for the UK. On Friday, Moody's cut the UK's credit rating outlook to negative. A rating downgrade can affect how much it costs governments to borrow money in the international financial markets. In theory, a high credit rating means a lower interest rate (and vice versa). S&P said that the leave result would "weaken the predictability, stability, and effectiveness of policymaking in the UK".

PM condemns 'despicable' post-EU referendum hate crimes.

David Cameron has condemned "despicable" incidents of hate crime reported in the wake of the UK's referendum vote to leave the EU. There had been cases of "verbal abuse hurled" at ethnic minorities, and "despicable graffiti daubed on a Polish community centre", he told the Commons. Such attacks must be stamped out, he said, urging people to remember "these people have come here and made a wonderful contribution to our county".

Gibraltar in talks with Scotland to stay in EU.

Gibraltar is in talks with Scotland about a plan to keep parts of the UK in the EU, BBC Newsnight has learned. Fabian Picardo, the territory's chief minister, told the BBC he was speaking to Scotland's First Minister, Nicola Sturgeon, about various options. One possibility under discussion is for Gibraltar and Scotland, which both voted to remain in the EU, to maintain the UK's membership of the bloc. Ms Sturgeon confirmed to the BBC that talks are under way with Gibraltar. Northern Ireland could also potentially be included in the discussions. "I can imagine a situation where some parts of what is today the member state United Kingdom are stripped out and others remain," Mr Picardo told Newsnight.

[Oh, what a very strange world we are now entering. Some day’s it feels like an endless episode of Lost where unseen scriptwriters are making things up on an hour by hour basis. Who knows where it might end. Needless to say that the Leave camp are waving their hands at this point repeating ‘Scaremongering’ until it all goes away.]

All details above from BBC News website.