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Despite Dire Brexit Predictions, Connecticut Billionaire Investor Beefs Up London Office

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The trading floor of The New York Stock Exchange

A new report predicts global mergers and acquisitions may drop by as much as $1.6 trillion over the next five years unless Britain quickly agrees to leave the European Union under terms that give it continued access to the single market.

The report says fallout from the Brexit vote will be concentrated in the U.K. and Europe and won't lead to a crash in global takeovers like the one that followed the collapse of Lehman Brothers at the start of the financial crisis 

And, as some financial companies consider moving jobs out of London after the Brexit vote, the billionaire investor Steven A. Cohen’s Stamford-based firm, Point72 Asset Management, is taking a contrarian view.

The firm is a family office that manages Cohen’s $11 billion fortune. The New York Times reportsit’s doubled the size of its work force in London in the last six weeks after reopening its office there last year.

Climate Change Meetings in 10 Communities

Meetings are being planned across Connecticut to discuss ways to address climate change. The Governor's Council on Climate Changewill be holding its second stakeholder event tomorrow in Hartford and nine other communities. The state is required to reduce greenhouse gas emissions by 2050. It will do so, in part, by developing interim reduction targets for years between 2020 and 2050.

The Council is composed of 15 members from state agencies, quasi-state agencies, businesses, and nonprofits.

The main location for discussions will be the Hartford Public Library. Participants at satellite locations can view the Hartford presentation via a video link and hold discussions. The satellite locations will be in Bridgeport, Goshen, Groton, Killingly, Middletown, New Haven, Norwalk, Waterbury, and Willimantic.

Mark is a former All Things Considered host and former senior editor with WSHU.

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