Osborne: Britain is 'open for business'

Our economy is about as strong as it could be to face the challenge

– George Osborne

George Osborne has made a speech reassuring financial markets following the country's decision to leave the EU.

The Chancellor, speaking from the Treasury on Monday morning, said although the result of the referendum wasn't what he was hoping for, he was confident in our economy, saying contingency plans means 'we are prepared for the unexpected'.

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Labour coup: 'It’s a matter of self respect and decency'

There wasn’t any honourable position staying in the shadow cabinet for me

– Chris Bryant

Jeremy Corbyn's leadership has been plunged into crisis as a string of shadow ministers quit, saying they had no confidence in his ability to win a general election. Labour's deputy leader Tom Watson said he is to hold emergency talks with Corbyn to "discuss the way forward".

We're joined by one of those who quit, Chris Bryant, Labour MP for the Rhondd, who shared his letter of resignation on Twitter.

He told us how in a telephone conversation he told Corbyn: "You will destroy Labour" and even hints that the party leader may have even voted to leave the European Union.

We're also joined by Shadow Defence Secretary Emily Thornberry MP, who tells us why she is sticking by her unpopular boss.

Eight children harmed in rollercoaster crash

Eight children and two adults have been taken to hospital after a rollercoaster derailed at a theme park in Motherwell, near Glasgow. Eyewitnesses said the Tsunami ride - which can reach speeds of up to 40 miles an hour - had been full when it came off the track shortly before 3.50pm.

Six ambulances and six fire engines rushed to the scene as several visitors posted images on social media appearing to show a mangled carriage on a pathway surrounded by dozens of people.

Top five headlines you're waking up to

12 Labour MPs have resigned from the shadow cabinet

  1. Jeremy Corbyn's leadership has been plunged into crisis as a string of shadow ministers quit, saying they had no confidence in his ability to win a general election. Labour's deputy leader Tom Watson said he is to hold emergency talks with Corbyn to "discuss the way forward".

  2. OSBORNE EMERGES: The Chancellor will today make a statement ‎to provide reassurance about financial and economic stability in light of the referendum result and the actions that he and the rest of the Government will be taking to protect the national interest over the coming period

  3. Scotland's First Minister Nicola Sturgeon has said that Holyrood could effectively block the UK's exit from the EU. SNP leader Ms Sturgeon said that "of course" she would ask MSPs to refuse to give their "legislative consent". Meanwhile, pressure continues for referendums in Scotland and Northern Ireland.

  4. Eight children and two adults have been taken to hospital after a rollercoaster derailed at a theme park in Scotland. Eyewitnesses said the Tsunami ride at M&D's amusement park in Motherwell, near Glasgow, had been full when it came off the track shortly before 3.50pm.

  5. And finally - with Wimbledon starting this morning, all eyes will be on Britain's Andy Murray - and 'Murray mania' has already started after he won the Title for a record fifth time. We're joined by his biggest fan, mum Judy Murray.

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Donald Trump applauds 'amazing' Brexit result

It's an amazing vote, it's very historic and we're very happy about it

– Donald Trump hails Brexit result a victory for UK

Controversial US hopeful Donald Trump has hailed the Brexit result an 'amazing' victory for the UK.

The Republican presidential candidate made the comments during a visit to Ayrshire in Scotland shortly after the EU referendum result was announced.

"It's an amazing vote, it's very historic and we're very happy about it," he told reporters.

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How will Brexit affect us immediately?

People have voted to leave not knowing what leaving looks like... an extraordinary moment

– Robert Peston, ITV News' Political Editor

Piers and Susanna were joined by ITV News' Political Editor Robert Peston following Britain's decision to leave the EU.

Watch Peston describe the short-term effects of the referendum result and what he predicts could happen next. Our economy is "certain" to slow down as there will be less money to lend and invest. Moreover, businesses will engage in less activity and consumers will also spend less.

Peston also reminds us that there will be a two-year negotiating period to finalise the terms of our exit, which has to be triggered by the Prime Minister. Who does he think will succeed Cameron?

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EU Referendum Live Updates: Is Britain In or Out?

Votes are sorted into Remain, Leave and Doubtful trays as ballots are counted during the EU Referendum count for Westminster and the City of London.

06:05am The UK has voted to leave the European Union after 43 years in an historic referendum.

Key moments overnight:

- The value of the pound has nosedived against the dollar hitting a 31-year low as markets react.

- Ukip Leader Nigel Farage has said "dawn is breaking on an independent UK" - declaring victory a win for real people and calling on the Prime Minister to quit immediately.

- Boris Johnson leads more than 80 pro Brexit Conservatives, signing a letter to the David Cameron asking him to remain in office amid the growing pressure to resign.

With the nation divided and the future uncertain, we'll be finding out what it means for you.

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