The pension deficit of UK companies grew by £89bn in just one month, hitting a record level following Britain’s vote to leave the EU, the Financial Times reported. Figures from the Pension Protection Fund showed the total private sector pension shortfall rose to £383.6bn at the end of June, from £294bn a month earlier, as financial markets reacted to the Brexit vote. The plunge in equities, sterling and bond yields put more strain on schemes that are already under pressure from a prolonged period of low interest rates.

Brexit could push Northern Ireland into recession given it’s relaince on the UK, an economist has said, the Irish Times reported. Business activity increased in Northern Ireland in the weeks before the EU referendum. The Ulster Bank purchasing managers’ index said June was the 14th month in a row in which companies recorded an increase in new orders. The latest report signalled that growth was maintained at the end of the second quarter, with sharper expansions of output, new orders and employment recorded.

The Bank of England moved to boost the U.K. economy in the wake of Britain’s vote to exit the European Union, marking one of the first instances of a major central bank relaxing bank-capital requirements to mitigate a possible economic slowdown, The Wall Street Journal reported. The central bank said it agreed to ease regulatory restraints on U.K. banks in a push aimed at allowing them to lend an extra £150 billion ($199 billion) to U.K. businesses and households and to keep the economy flush with credit. The move reduced the amount of capital banks must hold against loan portfolios.

Three former Barclays bankers have been found guilty of conspiring to rig a key interest rate in a high profile trial, the Irish Times reported. Jonathan Mathew (35), a Libor submitter, along with traders Jay Merchant (45) and Alex Pabon (37), were found guilty of conspiring with others at Barclays to manipulate US dollar Libor – the benchmark interbank lending rate – for more than two years, until September 2007. They had denied wrongdoing in a 14-week trial at Southwark Crown Court in London.

UK insurers have warned that Brexit is unlikely to lead to a big dilution of the EU’s Solvency II capital rules. Solvency II, which came into force at the start of this year, is seen by many in the industry as an expensive, bureaucratic regime that puts them at a disadvantage when doing business outside the EU. Some people hope that Brexit will be an opportunity to roll it back.

Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union, Reuters reported. Carney also said he would not consider resigning from the Bank if his critics from the referendum's Leave campaign, who were angered by his warnings of a Brexit hit to Britain's economy, end up filling a power vacuum in the government.

Within hours of Britain’s vote to leave the European Union, it started, the International New York Times reported. A Lithuanian lawmaker wrote to the chief executive of HSBC, trying to court the bank. A website promoting Frankfurt as an attractive location to invest went live. A Berlin start-up published an online how-to guide for anyone looking to move to the German capital.

Damian Kimmelman is exactly the kind of entrepreneur the U.K. government says it needs. His London startup has 100 employees and expects to hire many more, Bloomberg News reported. Unfortunately for the British economy, Kimmelman’s new people won’t be in the U.K.: He changed his plans after voters chose to leave the European Union last week. “We’ll be distributing our team, opening up new offices in Europe rather than focusing on the U.K.,” said Kimmelman, whose company, DueDil, provides data-analytics tools to study private companies.

The head of Scotland’s government met with European Union leaders in Brussels Wednesday for talks about protecting the country’s interests in the bloc, as different parts of the U.K. begin to jostle for new arrangements following last week’s vote, The Wall Street Journal reported. A majority of voters in Scotland, Northern Ireland and Gibraltar favored staying in the EU in last Thursday’s referendum while the U.K. overall voted to leave the bloc by a narrow margin.

The regulator that monitors UK financial reporting is to investigate two of the big four accountancy firms over their role in the failures of the retailer BHS and the banking group HBOS, The Guardian reported. The Financial Reporting Council, responsible for overseeing UK accounting standards, began an investigation into PricewaterhouseCoopers over its audit of the collapsed high street chain BHS when it was owned by Sir Philip Green.