What you need to know on Wall Street right now

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Everyone should relax. There isn’t going to be a ‘Brapocalypse,’

Too much? OK. Fair enough.

Still, the UK’s decision to leave the EU has fired the starting gun on a huge migration of trading talent. Scotland is likely to leave the UK and get its own currency, according to JPMorgan.

Oh, and Brexit has put Japan in a difficult spot.

In Wall Street news, UBS just announced a big shake-up in its investment bank ahead of a “perfect storm.”

Algomi, an information platform that was once touted as a potential fintech “unicorn,” has suffered a big blow to its US ambitions.

And Puerto Rico will default on $1 billion of debt on Friday.

Lastly, here are the 24 best beaches in America, ranked.

Here’s the best of the rest in Wall Street headlines:

The billionaire Koch brothers are jumping into an area abandoned by Wall Street The billionaires behind Koch Industries are filling a role traditionally belonging to Wall Street banks.

The hottest tech IPO around is rocketing up another 18% – Twilio is taking off.

Canada’s CIBC is buying PrivateBancorp for $3.8 billion – Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp in a cash-and-stock deal.

MORGAN STANLEY: There is no way parliament will block Brexit – Britain’s parliament will not block a Brexit, even though it technically could, according to Morgan Stanley.

These 7 miners should surge if gold keeps going up Gold is on a tear.

The small detail most likely to make a vintage watch worth tons of money – The vintage watch market is on fire right now. Watches are breaking records left and right.

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