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Beginning Brexit: Bracing for impact

Steep fall in the value of pound has changed merger calculations for companies around the world

Brexit, UK
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Members of UK Independence Party celebrate the official triggering of Article 50 of the Lisbon Treaty

Peter S Goodman
The world did not end. No recession unfolded. Nine months after Britain voted to leave the European Union (EU), disregarding warnings of grim economic consequences, a nation famous for calmly carrying on has seemingly gone about its business.
 
As Prime Minister Theresa May on Wednesday officially initiated Britain’s exit from Europe — Brexit, in everyday talk — the lack of disaster was touted by those steering the departure as a sign of little trouble ahead.
 
“There were predictions about what would happen to the economy if the United Kingdom voted to leave,” May told Parliament on Wednesday. “Those