The risk of another recession has escalated after Britain's decision to leave the EU plunged markets into freefall.

Britain must begin exit talks "as soon as possible", EU leaders said as they battle to prevent copy-cat referendums.

The City will no doubt survive as a financial capital but United Kingdom is unlikely to.

New Zealanders stand to gain from possible interest rate cuts and cheaper travel in Britain and Europe.

Britain's Prime Minister David Cameron resigned last night hours after the UK shocked the world by voting to leave the European Union.

David Cameron last night fell on his sword, announcing there will be a staged exit from Number 10 and a new prime minister by October.

Scotland's first minister Nicola Sturgeon said a second vote in just two years on whether Scotland should leave the United Kingdom in now "highly likely".

COMMENT: Despite the views of David Cameron, a majority of MPs, the UK business community, Britain's voters have defied them all to return a Leave vote.

COMMENT: The political fallout will be equally dramatic as Britain and the EU work through whatever plan they have for the break-up.

Global financial markets were thrown into turmoil yesterday after Britons voted to exit the European Union (EU).

COMMENT: If ever John Key was in a position to help his political "bestie" this is it.

"The will of the British people must be respected" - British PM announces his resignation after the historic EU referendum delivered clear backing for Brexit.

Shares plunged after the surprising vote to leave the EU.

The New Zealand dollar tumbled more than 3 US cents, but surged to a three-year record against pound.

Britain has voted clearly in favour of leaving the EU, but that is just the start of a very long process.

Europe is waking up to the news that Britain has decided to leave the European union and reaction to the result is spreading across twitter.

The UK has voted to leave the European Union by a majority 52 per cent. Here are some reasons the 'leave' campaign succeeded.

So it looks like we're heading for a Brexit. So what happens next?

No matter what Britain decides, leaders say ambitions to build a united continent may be on hold after the bitter campaign exposed deeper troubles.

If the polls are to be believed, the vote could be very close. Here's why that is such a worrying prospect.

The UK has voted to leave the European Union by a majority 52 per cent.

Counting is under way in a referendum that will decide whether the UK remains a member of the European Union The avocado shortage that’s ripping the heart out of breakfast bagels and guacamole across the country.

Britain's leading anti-EU politician, UKIP leader Nigel Farage, claims the Government rigged the vote in favour of Britain staying in the EU.

World financial markets have rallied sharply on the prospects of Britain remaining in the EU.

The outcome of the referendum is too close to call, according to pollsters, but a series of final surveys conducted before voting began today showed the Remain campaign in the lead. Source: Sky News

With leading Brexiter Nigel Farage conceding defeat, we take a look at why the Leave campaign may have botched it.

Shares on both sides of the Atlantic rose overnight as investors awaited the outcome of the Brexit vote.