BlackRock warns Scottish independence poses 'major risks' to UK

BlackRock has warned of ‘major risks' to the UK and Scotland if Scots vote for independence in September's planned referendum.

In a report for clients to be issued next week, the world’s largest fund manager said Scottish independence would bring "major uncertainties, costs and risks” but a mass exodus of businesses from Scotland is unlikely. The impact would mostly be felt by Scotland, but would also have a knock-on effect on the UK, the paper argued, according to the BBC. It said a currency union between an independent Scotland and the rest of the UK "looks infeasible" and would "bring risks to both countries". The asset manager suggested the best option for Scotland would be to launch its own currency. ...