Brexit News Archive: 12 Jul 2016

Market Recap Jul 12, 2016

U.S. investors continue to deal with the devastating effects of Brexit by... making money. Indexes gapped up yet again and the S&P 500 climbed 0.70% and the NASDAQ 0.69%. TINA! "In this global environment, where else will investors go?" said Mark Kepner, managing director of sales and trading at Themis ...
Stock Trading To Go   |   Tue, 12 Jul 2016 22:30:37

SP 500 and NDX Futures Daily Charts - Beta Monkeys

We saw some continuing movement into assets that had gotten clobbered with the risk aversion sparked by Brexit. This is an option expiration week in stocks. Earnings and other economic will continue to influence the market action, but on the lower volume days the 'technical action' takes the whip hand ...
Jesse's Café Américain   |   Tue, 12 Jul 2016 20:13:00

Investors Scan the Murky Waters of Britain’s Future

As Britain’s chancellor of the Exchequer, George Osborne, proclaims a commitment to global free trade, many are skeptical of prospects while alienated from European trading partners.
PETER EAVIS / NY Times   |   Tue, 12 Jul 2016 19:11:52

Does a Weak 10-Year Treasury Auction Mean the Bond Rally is Finally Toast?

Treasury yields may still be too low for most sensible U.S. investors to chase today, but the yields on long-term rates have started ticking back up from the post-Brexit lows. Maybe a record stock... Administrator money
24/7 Wall St.   |   Tue, 12 Jul 2016 18:39:38

Company pension deficits up £89bn in a month

Private-sector shortfall hits record of £383.6bn in June after Brexit vote
FT   |   Tue, 12 Jul 2016 17:22:03

Top blogger: Sell the rally

The S&P 500 roared back from a post-Brexit sell-off to set a new all-time record high.
CNBC   |   Tue, 12 Jul 2016 17:22:00

How America Can Get Immigration Reform Right

The U.S. should learn from Brexit and develop a plan to fix its polarizing immigration system.
Matt Mayer / U.S. News   |   Tue, 12 Jul 2016 17:05:00

Theresa May's Victory In The U.K. A Small Win For Transparency About Taxable Income

The Brexit saga in the United Kingdom is almost ready to enter its next phase. Instead of waiting until September to elect a new Conservative leader who would then become prime minister, Andrea Leadsom's decision to drop out has conceded the race to her rival, Theresa May. May's triumph has ...
Jeremy Scott, Contributor / Forbes   |   Tue, 12 Jul 2016 16:39:00

Goldilocks eats her seed corn

Investors see an economy a one percenter Goldilocks would love: strong job creation but with factors like Brexit and the US election stopping the Federal Reserve from raising rates.
IFR   |   Tue, 12 Jul 2016 16:30:00

Buy this loan to let a wannabe landlord from Brazil get a mortgage in London

You might recall Deutsche Bank's bearish note on the London buy-to-let market last month . It argued, in short, that regulatory changes had set property in the British capital on the road to a nasty crash in the not-so-distant future. And that was before minor things like Brexit and the ...
FT Alphaville   |   Tue, 12 Jul 2016 16:27:10

Trump and Brexit

Given the terrible tragedies in Dallas, Baton Rouge, and St. Paul the last week, the ramifications of Brexit and the presidential contest may seem remote and of less importance to Americans at this time. But both matter in terms of how our nation will evolve over the next few years. ...
Moderate Voice   |   Tue, 12 Jul 2016 15:53:19

Lessons for restoring the American dream from Latin America

These are odd times: Deep desperation and fear of downward mobility among the working and middle classes in many rich countries, with anti-system political manifestations such as Donald Trump's domination of the Republican primaries in the U.S. and the vote for "Brexit" in the U.K. The narrative of both movements ...
Brookings   |   Tue, 12 Jul 2016 15:34:00

Never say never to Bank of Canada rate cut: Why markets could be in for a surprise tomorrow

Governor Stephen Poloz took us by surprise last year and he could do it again as our lagging economy mixed with Brexit turmoil makes tomorrow's decision more murky
Gordon Isfeld / Financial Post   |   Tue, 12 Jul 2016 15:29:19

Hedge Funds Beat Underlying Markets In June With 0.64% Gains

Hedge Funds Beat Underlying Markets In June With 0.64% Gains, Up 1.34% After Four Consecutive Months Of Positive Returns by Eurekahedge Hedge funds successfully traded their way around an overwhelming month in June and were up 0.64% while underlying markets [...]
Value Walk   |   Tue, 12 Jul 2016 15:25:36

Slow, Steady Growth For eBay In June, But No Inflection Yet: Baird

Robert W. Baird's Colin Sebastian has an update on eBay ( EBAY ) Tuesday, writing that the firm's monthly tracker showed volume growth in the low- to mid-single digits year-over-year through June on the auction site. Sebastian writes that while Brexit issues may hurt margins, he still sees material upside ...
Eric Savitz   |   Tue, 12 Jul 2016 15:25:18

Who's Most Afraid Of Contagion From Italy's Bank Meltdown?

Submitted by Don Quijones via WolfStreet.com, French and German banks. Contagion is the reason Italy's banking crisis is all of a sudden Europe's biggest existential threat. Greece's intractable problems are out of sight, out of mind; Brexit momentarily spooked investors and bankers; but Italy's banking woes have the potential to ...
Zero Hedge   |   Tue, 12 Jul 2016 15:19:59

Gold drifts again as equities hit highs

Long or buy futures hit record levels last week, which has prompted suggestions that if gold does fall from its current Brexit-inspired perch, it will fall hard. At the end of last week there were 340,207 lots, or 34mln oz, up 1.4mln oz week on week. Macquarie notes that in ...
Proactive Investors   |   Tue, 12 Jul 2016 15:05:00

AMC Entertainment buys Odeon cinemas for US$1bln

The US cinema chain owned Wanda Group, AMC Entertainment (NYSE:AMC) is snapping up London-based Odeon cinemas for around £921mln (US$1.2bn). In a self-confessed "opportunistic transaction" AMC is taking advantage of the weak pound following Brexit and buying Odeon, Europe's biggest cinema chain from Terra Firma. The deal is the first ...
Proactive Investors   |   Tue, 12 Jul 2016 15:00:00

After Narrow Win Australian Government Should Put Fiscal House in Order & Accelerate Market Reforms

Another close election in the West. It does not have the same implications as the Brexit vote, but it affects the 11th largest economy in the world, Australia.
Alejandro Chafuen, Contributor / Forbes   |   Tue, 12 Jul 2016 14:50:00

Italians Being A Little Too Italian For Germany, Austria

No, "Brexit" does not sound sexier in an Italian accent.
Dealbreaker   |   Tue, 12 Jul 2016 14:36:07

UBS's Orcel Signals Halt To Years Of Investment Bank Cuts

UBS's Investment Bank President and UK CEO Andrea Orcel discusses the layoffs, compensation and Brexit impact in an exclusive interview with Bloomberg Television's Erik Schatzker. Note: His remarks about dismissals are a shift from May, when UBS said it would [...]
Value Walk   |   Tue, 12 Jul 2016 14:09:15

Hotel Chocolat says cocoa price surge will not affect product cost

Despite increase in sterling price of cocoa since Brexit vote, chocolatier reassures customers they will not have to pay more Hotel Chocolat has said the post-Brexit vote surge in the price of cocoa will not mean customers have to pay more for its upmarket chocolate products. The chocolatier said it ...
Sean Farrell / Guardian   |   Tue, 12 Jul 2016 14:07:15

Ruth Davidson's Lobby Lunch

Ruth Davidson didn't spare Leadsom or Brexiteers at today's lobby lunch: .@RuthDavidsonMSP sticks the boot in at Lobby Lunch: "Before politics, I single-handedly saved the banking system. Speaking as a mother..." - Robert Hutton (@RobDotHutton) July 12, 2016 The top Tory Scot left no Brexiteer safe, taking a pop at ...
Guy Fawkes' blog   |   Tue, 12 Jul 2016 14:00:18

Day one dawns for May

Her low profile during the intense Brexit debate has helped to propel Theresa May into No 10 Downing Street.
Austrailian   |   Tue, 12 Jul 2016 14:00:00

UK Policymakers were Warned about Property Funds Withdrawals

The Bank of England was warned of the possibility that commercial property funds may be suspended because of the rate of withdrawals prompted by the Brexit vote. Documents released by Threadneedle Street show that policymakers were told in meetings on 28 June and 1 July of the outflows from funds ...
OANDA   |   Tue, 12 Jul 2016 13:53:51

Mark Carney to hand notes of private talks with chancellor to MPs

MPs on Treasury select committee accuse Bank of England governor of 'phoney forecasts' during run-up to EU referendum Mark Carney has agreed to hand notes of private meetings he had with the chancellor in the run-up to the EU referendum to MPs, after a Treasury select committee hearing where the ...
Jill Treanor / Guardian   |   Tue, 12 Jul 2016 13:39:35

Parris on the Brexiteers

Here. The day of the referendum result, I was waiting outside the tent where CNN were filming on College Green near Parliament. In front of the camera I saw two people shouting at each other and sensed the argument was out of control. Next up for interview, I sat down ...
Crooked Timber   |   Tue, 12 Jul 2016 13:06:59

Investors Scan the Murky Waters of Britain’s Future

As Britain’s chancellor of the Exchequer, George Osborne, proclaims a commitment to global free trade, many are skeptical of prospects while alienated from European trading partners.
DealBook   |   Tue, 12 Jul 2016 12:57:49

OP-Ed Contributor: England’s Last Gasp of Empire

The Brexit vote expressed white Britain’s nostalgia for a lost sense of greatness.
BEN JUDAH / NY Times   |   Tue, 12 Jul 2016 12:49:12

Former FDIC Chair Sheila Bair expects more pain ahead for US banks

Brexit has dramatically reduced the likelihood of another Fed rate hike, and that means U.S. banks will face continued pressure, Sheila Bair says.
Here Is The City   |   Tue, 12 Jul 2016 12:12:09

The battle lines have been etched

By Max Hänska Latent tensions became manifest with the result of the Brexit referendum, etching the battle line that will define the struggles ahead. Those who have embraced and built their lives around our global order, and found opportunity ... Continue reading →
LSE Euro Crisis   |   Tue, 12 Jul 2016 12:00:32

eats her seed corn: James Saft

July 12 (Reuters) - Investors see an economy a one percenter Goldilocks would love: strong job creation but with factors like Brexit and the U.S. election stopping the Federal Reserve from raising...
Reuters   |   Tue, 12 Jul 2016 12:00:01

Frontrunning: July 12

Stocks Advance on Stimulus Bets (BBG) Japan to craft stimulus by end-July, may issue construction bonds (Reuters) May ally says Britain to trigger EU divorce 'when we're ready' (Reuters) Last Woman Standing, Theresa May Offers Calm on Brexit Road (BBG) Merkel urges Britain to quickly clarify relationship with EU (Reuters) ...
Zero Hedge   |   Tue, 12 Jul 2016 11:42:30

UK property funds start selling buildings

Early bids indicate discounts to pre-Brexit but not steep drops seen in 2008
FT   |   Tue, 12 Jul 2016 11:26:24

No country for young men?

Conversations with people on the street in Wales help clarify why Britain voted for Brexit. Why weren't MEPs having those conversations all spring? Alex Liivet/Flickr. (CC 2.0 by) I've had a bumpy political education this past week. Last Friday I felt like I woke up in a different country. Like ...
Open Democracy   |   Tue, 12 Jul 2016 10:45:51

In Uncertain Times, CEOs Lose Faith in Forecasts

Uncertainty has been a given for business since the financial crisis, but business leaders say recent events such as Brexit have diminished their faith in forecasts.
WSJ   |   Tue, 12 Jul 2016 10:38:44

"Core Europe To The Rescue: A Conversation With Jürgen Habermas About Brexit And The EU Crisis" by Jürgen Habermas

Mr Habermas, did you ever think Brexit would be possible? What did you feel when you heard of the Leave campaign's victory? It never entered my mind that populism would defeat capitalism in its country of origin. Given the existential importance of the banking sector for Great Britain and the ...
Social Europe Journal   |   Tue, 12 Jul 2016 10:21:57

Peter Mandelson's Brexiteers: the inside story of a mutiny in Labour's home port

Tom Rowley / Telegraph   |   Tue, 12 Jul 2016 09:38:55

Credit continues to grind tighter

From what can be evidenced in bond markets over recent weeks, the search for yield phase in the Eurozone remains ever present, despite the glitches witnessed post Brexit referendum as the fresh wave of ECB bond purchases is set to keep yields lower for longer. The ECB's problems seem to ...
Mark Vella / Times of Malta   |   Tue, 12 Jul 2016 09:23:00

UK to fall into recession over coming year: BlackRock

LONDON (Reuters) - Britain will fall into recession over the coming year and growth in each of the next five years will be at least 0.5 percentage points lower as a result of Brexit, BlackRock said on Tuesday. "Recession is now our base case," Richard Turnill, chief investment strategist at ...
Business Insider   |   Tue, 12 Jul 2016 09:20:46

Renzi urges common sense to solve banks issue

Rome, July 12 - Premier Matteo Renzi said Tuesday banks must resume extending credit to small businesses in the wake of the Brexit. "A return to common sense in the EU is key," he told RTL private radio. "Banks must resume making loans to artisans and small and medium businesses ...
Gazzetta Del Sud   |   Tue, 12 Jul 2016 09:13:00

FP Tues July 12

Select Show on Front Page: Show on Front Page Two top Articles When they call Brexit a 'working-class revolt', they mean the white British working class Hide in waterfall: Do not include in section waterfall ? Brexit is a 'working-class revolt' -- if you're white and British From Yarl's Wood ...
Open Democracy   |   Tue, 12 Jul 2016 09:00:00

FTSE 100 Index treads water as market awaits Carney comments

The FTSE 100 Index trod water on Tuesday as the novelty of a new UK prime minister wore off and markets refocused on the implications of 'Brexit'. The Footsie fell 0.18 points to 6682.68 in early trading despite news that Theresa May was likely to be installed in Number 10 ...
Proactive Investors   |   Tue, 12 Jul 2016 08:55:00

'The temperature is rising in Portugal'

Last week everyone was clamoring about Italy. In the aftermath of the UK's EU referendum, markets started worrying about what a Brexit would mean for one of the euro area's sore spots - Italian banks. But this week, attention has started to shift over to Portugal - and not just ...
Money Game   |   Tue, 12 Jul 2016 08:45:00

IMF revises Italy growth downward to under 1%

New York, July 12 - The International Monetary Fund (IMF) on Tuesday revised downwards its GDP growth estimates for Italy in the wake of the Brexit, to below 1% in 2016 and 1% in 2017 compared to 1.1% and 1.3% in its previous forecast. Italy's economy is "gradually recovering" with ...
Gazzetta Del Sud   |   Tue, 12 Jul 2016 08:44:00

Trust no-one

"Predictably, there is speculation that Brexit will not happen. If Britain can vote for Brexit, it is being argued, surely anything is possible. But...
Cobden Centre   |   Tue, 12 Jul 2016 08:41:36

How you get to be PM without a vote

Max Foster explains how Theresa May will become Britain's next Prime Minister without a public vote.
CNN   |   Tue, 12 Jul 2016 08:08:19

Farage Hasn't Collected His Winnings

Having waited 23 years to win independence Nigel Farage may not be in much of a rush to collect on his bet on Brexit from Ladbrokes. He has won £2,500 on his £1,000 at 5/2 bet on Leave. The bookies are bemused that he hasn't collected. Perhaps Nigel is too ...
Guy Fawkes' blog   |   Tue, 12 Jul 2016 07:52:06

UK political uncertainty closer to resolution

FTSE 100 called to open -10pts at 6670, having edged back from yesterday's mid-afternoon flirt with 6700 to find support at 6660. The trend of rising support from Brexit-vote lows remains valid, keeping open the door for a breakout at 6700 that would take the current rebound beyond 17% and ...
Proactive Investors   |   Tue, 12 Jul 2016 07:08:00

Bonus cuts are coming

When U.S. banks post second-quarter results in days, it'll boil down to this: Bonus cuts are coming for just about everyone this year, says Wall Street recruiter Richard Lipstein. "If you are break-even, it's an achievement."
Here Is The City   |   Tue, 12 Jul 2016 06:09:50

Cost of relocating away from London could hit banks £50,000 per person

BANKS and financial services companies wishing to relocate their workforce from UK to another European city in the wake of Brexit and a potential loss of passporting rights will face costs as high as £50,000 per employee, according to New York-based consulting firm Synechron.
Here Is The City   |   Tue, 12 Jul 2016 06:09:42

Integration after Brexit: immigration policy is important, but so too is what happens to migrants after they arrive

Immigration was centre-stage in the referendum campaign and the Leave vote raises many questions about the future direction of immigration policy. Will the UK retain free movement as a condition of keeping access to the free market? Or will potential EU migrants face the same rules as non-EU nationals in ...
British Politics and Policy at LSE   |   Tue, 12 Jul 2016 06:00:40

JP MORGAN: Your next finance job could be in Madrid

Brexit is testing the nerve of banks based in London. The question of when and how the UK will leave the European Union, and what will become of banks' ability to passport services into the Continent, has driven banks to reassess their London-heavy structure. It's a question that JP Morgan ...
Business Insider   |   Tue, 12 Jul 2016 06:00:00

How Plummeting Yields Will Drag Down Bank Earnings

As second-quarter bank earnings season gets under way, the big question isn't whether firms will miss or beat expectations. Rather, after the Brexit vote, it is whether bank stocks will be dead in the water for a year or two.
WSJ   |   Tue, 12 Jul 2016 05:42:38

COLUMN-Goldilocks eats her seed corn: James Saft

July 12 (Reuters) - Investors see an economy a one percenter Goldilocks would love: strong job creation but with factors like Brexit and the U.S. election stopping the Federal Reserve from raising...
Reuters   |   Tue, 12 Jul 2016 04:01:01

Brexit leader Farage has 'lessons' for Trump, GOP

Nigel Farage will attend next week's convention he says because there are "lessons" for Americans.
USA Today   |   Tue, 12 Jul 2016 02:42:03

May to take crisis-hit U.K.'s helm in just two days, tasked with steering safe Brexit

Theresa May now has just two days rather than two months to build a team to rescue the U.K. from its worst political crisis in a generation and begin extricating it from the European Union. May, 59, is on a fast track to succeed David Cameron as prime minister after ...
Japan Times   |   Tue, 12 Jul 2016 01:10:36

Investors Scan the Murky Waters of Britain’s Future

As Britain’s chancellor proclaims a commitment to global free trade, many are skeptical of prospects while alienated from European trading partners.
PETER EAVIS / NY Times   |   Mon, 11 Jul 2016 23:58:35

How Plummeting Yields Will Drag Down Bank Earnings

As second-quarter bank earnings season gets under way, the big question isn't whether firms will miss or beat expectations. Rather, after the Brexit vote, it is whether bank stocks will be dead in the water for a year or two.
WSJ   |   Mon, 11 Jul 2016 23:37:42

More pain ahead for US banks: Bair

Brexit has reduced the likelihood of another Fed rate hike, Sheila Bair says.
CNBC   |   Mon, 11 Jul 2016 22:01:00

IMF warns Italy of two-decade-long recession

Eurozone's third biggest economy may not recover from 2008 financial crash until mid-2020s, according the fund's annual report The fragile state of Italian banks in the fraught post-Brexit financial climate has been highlighted by the International Monetary Fund, in a stark warning that the eurozone's third biggest economy will have ...
Larry Elliott / Guardian   |   Mon, 11 Jul 2016 22:00:01

Who is next UK leader Theresa May?

Theresa May is not a mother -- her opponent made that clear, to her own demise -- but you may be wondering who exactly is this conservative politician tapped to lead post-Brexit Great Britain.
CNN   |   Mon, 11 Jul 2016 21:58:41

Seven Takeaways From Theresa May's Ascension to U.K. Prime Minister

Richard V. Reeves: With Theresa May poised to become the next U.K. prime minister, there is a reasonable chance that the post-Brexit whirlwind of U.K. politics will quiet somewhat.
WSJ Washington Wire   |   Mon, 11 Jul 2016 21:04:33

Market Recap Jul 11, 2016

BREXIT!!! DON'T DO IT OR STOCKS WILL.... end at all time highs in the U.S. within a few weeks. The major indexes gapped up moderately at the open and stayed firm all day with the S&P 500 gaining 0.34% and the NASDAQ 0.64%. We started earnings season this week and ...
Stock Trading To Go   |   Mon, 11 Jul 2016 20:45:26

Former Treasury Secretary Larry Summers Calls For 'Responsible Nationalism'

NPR's Robert Siegel speaks with Larry Summers, a professor at Harvard's Kennedy School of Government and former U.S. treasury secretary, about his op-ed in the The Washington Post regarding popular support for Brexit and Donald Trump.
NPR   |   Mon, 11 Jul 2016 20:29:16

WeWork Decides To Not Work On London Expansion

This isn't about Brexit (wink wink).
Dealbreaker   |   Mon, 11 Jul 2016 19:45:53

Spot gold slips as US data and stimulus hopes boost stocks

Spot gold fell as strong jobs data and the prospect of more monetary stimulus from some central banks boosted markets.
CNBC   |   Mon, 11 Jul 2016 18:46:00

Revealed: A Full Gold and Equities ETF Exposure Strategy

In a post-Brexit world, many have included a gold hedge to diminish further swings from more volatile equity exposure. On the other hand, investors can turn to a single exchange traded fund strategy that implements full exposure to gold and equities simultaneously. On an upcoming webcast, Revealed: A Full Gold ...
ETF Trends   |   Mon, 11 Jul 2016 18:40:47

Ex Burberry CEO Christopher Bailey's First TV Interview Since Departure

In Christopher Bailey's first television interview since being replaced as Burberry CEO by Marco Gobbetti, he talks to Bloomberg Television's Francine Lacqua about his involvement in finding a new CEO, Burberry's strategy and Brexit's impact on the company. Burberry's stock [...]
Value Walk   |   Mon, 11 Jul 2016 18:16:36

Deutsche Bank: UK Inflation Could Explode Above 5%

Since the pound slumped 14 per cent in the wake of the Brexit vote, inflation expectations have surged and analysts have cranked up their inflation forecasts. Today, reports FT, Deutsche Bank warned that a further 10 per cent decline for sterling could threaten inflation's 25-year high of 5.2 per cent. ...
Economic Policy Journal   |   Mon, 11 Jul 2016 18:04:00

Bonus cuts are coming

When U.S. banks post second-quarter results in days, it'll boil down to this: Bonus cuts are coming for just about everyone this year, says Wall Street recruiter Richard Lipstein. "If you are break-even, it's an achievement."
Here Is The City   |   Mon, 11 Jul 2016 17:46:17

A new PM - now comes the hard part

Theresa May will need all her toughness and guile to negotiate Brexit
FT   |   Mon, 11 Jul 2016 17:32:55

"Greed And Fear" Index Soars To Highest Since 2014

Having tumbled to its in 4 months the day after the Brexit vote, CNN's Fear & Greed indicator has roared higher to 82... The since mid-2014... the last time that The BoJ went full crazy with QQE2 (as The Fed ended QE2) and was rapidly followed by Jim Bullard's QE4-hint-driven ...
Zero Hedge   |   Mon, 11 Jul 2016 17:21:26

PREVIEW- How is ASOS travelling on its roadmap?

A trading statement from online fashion group and AIM heavyweight ASOS (LON:ASC) is sure to be closely scrutinised on Tuesday. Recently the firm, which will be posting at a time of reportedly decreasing UK consumer confidence post the Brexit vote, gave analysts a detailed insight of its road-map towards its ...
Proactive Investors   |   Mon, 11 Jul 2016 16:55:00

U.K.'s next prime minister: I'll tackle executive pay

Theresa May is promising to get tough on big business, and ease up on austerity, after last month's Brexit vote laid bare huge divisions across the U.K.
CNN   |   Mon, 11 Jul 2016 16:32:38

Companies have already lined up their latest excuse for poor performance

When S&P 500 companies hold conference calls after quarterly earnings, they are typically a time to update investors on the health of the business and allow analysts to ask questions to get a deeper understanding of the future of the firm. Conference calls also give executives time to vent about ...
Money Game   |   Mon, 11 Jul 2016 16:18:16

Are women party leaders set up to fail? What business tells us about the 'glass cliff'

A win for feminism? EPA/Andy Rain It's an interesting time for feminists following politics. The post-Brexit political landscape in the UK looks a bit different to the norm. With Theresa May set to become the next prime minister, and MP Angela Eagle challenging Jeremy Corbyn to be leader of the ...
Julia Yates, Senior Lecturer in Psychology, University of East London / The Conversation   |   Mon, 11 Jul 2016 15:44:53

George Soros Created the European Refugee Crisis?

How George Soros Created the European Refugee Crisis-and Why By David Galland and Stephen McBride, Garret/Galland Research George Soros is trading again. The 85-year-old political activist and philanthropist hit the headlines after Brexit saying the event had [...]
Value Walk   |   Mon, 11 Jul 2016 15:27:11

U.K. Pub Stocks' Pint of Woe

British pub stocks take a hit on Brexit.
Barrons   |   Mon, 11 Jul 2016 15:22:32

How to fix the corporate tax system

With Europe in disarray after Brexit, US lawmakers should fix the nation's broken system for taxing foreign profits of US corporations. In theory, foreign profits of US corporations are subject to a US tax of 35 percent. But in practice, these profits are not taxed at all by the United ...
Brookings   |   Mon, 11 Jul 2016 15:22:00

Theresa May becomes Tory leader, new PM

Rome, July 11 - Theresa May has become Conservative Party leader and British Prime Minister after her only remaining rival, Angela Leadsom, pulled out Monday. Home Secretary May, 60, will succeed David Cameron who quit after the Brexit vote. Meanwhile Angela Eagle officially launched her challenge t
Gazzetta Del Sud   |   Mon, 11 Jul 2016 15:06:00

July 2016

Our Global LI continues its uptrend Next month's LI could show more Brexit damage But US growth continues to strengthen The euro area shows moderation but still solid growth China's stimulus has peaked But the authorities still have their foot on the gas Latam remains above consensus and is joined ...
Lombard Street Research   |   Mon, 11 Jul 2016 15:03:49

Why Stock Market Investors Should Expect the Unexpected

Why Stock Market Investors Should Expect the Unexpected Read our forecast for a market rally in the wake of Brexit By Elliott Wave Note: The text version of the story is below.] Investors who jump on "sure things"... Please click on the post title or visit for full content.
EconMatters Global   |   Mon, 11 Jul 2016 15:03:00

Intel Corporation Stock Poised To Hit A New High

Intel has moved up more than 10% since the Brexit saga, which hit the capital markets last month. With help from one or more positive developments, the chip maker has been able to gain investors' confidence. Based on all these developments, [...]
Value Walk   |   Mon, 11 Jul 2016 14:00:34

Elbit Systems on hunt for acquisitions

Israeli aerospace and defence company is interested in buying UK assets and is undeterred by Brexit
FT   |   Mon, 11 Jul 2016 13:59:34

YouTube channels benefit as kids look beyond traditional TV

Producers of content from toy-unboxing videos to Minecraft gamers and vloggers target growing children's market At the Children's Media Conference in London last week, one big structural shift in how the young watch TV loomed large amidst conversations about diversity and the impact of Brexit. YouTube was still the hottest ...
Stuart Dredge / Guardian   |   Mon, 11 Jul 2016 13:52:30

A Sense of Foreboding

Doubts About Debt This was a shortened week, due to the American holiday of July 4, celebrating the start of the war that lead to 240 years ago. Amerexit and Brexit... The prices of the metals were up this week, +$25 in gold and +$0.48 in silver. The gold to ...
Acting Man   |   Mon, 11 Jul 2016 13:46:13

May set to become Tory leader, new PM

Rome, July 11 - Theresa May is set to become Conservative Party leader and British Prime Minister after her only remaining rival, Angela Leadsom, pulled out Monday. Home Secretary May, 60, will succeed David Cameron who quit after the Brexit vote. Meanwhile Angela Eagle officially launched her chall
Gazzetta Del Sud   |   Mon, 11 Jul 2016 13:26:00

Dutch bonds just did something that we haven't seen in 499 years

Dutch 10-year government bond yields dropped below zero for the first time ever on Monday, making them the latest to join the negative yield club. The Netherlands' 10-year dipped by 0.08 percentage points to as low as -0.007%. It has fallen by about 30 basis points since the June Brexit ...
Money Game   |   Mon, 11 Jul 2016 13:25:00

What I've been reading in June

In between all that Brexit, I've read some cracking books of late. TED Talks by Chris Anderson. I wrote a piece about the book here; as a person who devours books about public speaking, this is by far the best I've seen. Bravo. (US) (UK) The Shock of the Old ...
Tim Harford   |   Mon, 11 Jul 2016 13:17:49

One Essential Retirement Rule Often Ignored

Brexit aside, most people are ignoring one huge retirement rule. Here's what you need to know.
John Wasik, Contributor / Forbes   |   Mon, 11 Jul 2016 12:56:00

There's a good reason to be a Long Room member...

It provides access to useful posts, like this one - a collection of timely reads on the financial consequences of Brexit. Long Room membership is free, but access is restricted to finance professionals. In joining, you'll be asked to fill out a little form and provide contact details. But don't ...
FT Alphaville   |   Mon, 11 Jul 2016 12:45:00

Labour Demand Snap Election

Corbynista Jon Trickett says: "It is crucial, given the instability caused by the Brexit vote, that the country has a democratically elected Prime Minister. I am now putting the whole of the party on a General Election footing. It is time for the Labour Party to unite and ensure the ...
Guy Fawkes' blog   |   Mon, 11 Jul 2016 12:16:26

Volatility Spikes: A Test of Mental Fortitude

Note: This article appears on the ETFtrends.com Strategist Channel By Innealta Capital In June, the British European Union membership referendum (colloquially, the "Brexit" vote), created widespread uncertainty and ultimately resulted in significant moves across global financial markets. Investor demand for insurance, via the options market, reached levels not seen since ...
ETF Trends   |   Mon, 11 Jul 2016 11:55:09

Morning News: July 11, 2016

Bye-Bye Bonus: Brexit Seen Biting Profit for Years at U.S. Banks South Korea to Decide Soon on Whether to Suspend VW Car Sales Weakling Earnings [...]
Eddy Elfenbein   |   Mon, 11 Jul 2016 11:10:44

Top firm CEO congratulated traders - some worked 36 hours straight through

Tales from the trading floor.
Here Is The City   |   Mon, 11 Jul 2016 11:08:46

Where markets go from here...

Kristina Hooper, Allianz Global Investors weighs in on yields, stocks and the long-term impact of Brexit on growth.
CNBC   |   Mon, 11 Jul 2016 11:08:00

Brexitfallout - the business winners ... and losers

The lengthening list of major UK companies who stand to benefit from the EU referendum result and the falling pound ... and those who don't The pound has plunged since Britain voted to leave the EU on 23 June and consumer confidence has taken a battering but it hasn't been ...
Sean Farrell / Guardian   |   Mon, 11 Jul 2016 11:06:48

Deutsche Börse set to lower bar for London Stock Exchange deal

Deutsche Börse AG (ETR:DB1) could lower the bar for approving its planned £20bn tie-up with the London Stock Exchange Group Plc (LON:LSE) amid 'Brexit' fears. The Frankfurt-based stock exchange is considering reducing the shareholder acceptance threshold from 75% amid reported fears that it will not be able to reach that ...
Proactive Investors   |   Mon, 11 Jul 2016 10:15:00

California Inc.: Will the weak U.S. box office kill a mega merger of theater chains?

Welcome to California Inc., the weekly newsletter of the L.A. Times Business section. Here's a rundown of upcoming stories this week and the highlights of last week. Sure, we're all still in the throes of the "Brexit" vote, but you just wouldn't know it if the U.S. stock market is ...
LA Times   |   Mon, 11 Jul 2016 10:00:00

FTSE 100 Hits New 11-Month High...

The FTSE 100 is now up nearly 5 per cent since the UK's EU referendum and has hit an 11-month high. The Dow Jones Industrial Average is flirting with an all time record high. If only we knew that the Brexit panic would be extremely over done. Oh yeah. -RW
Economic Policy Journal   |   Mon, 11 Jul 2016 09:55:00

The Canadian Patient

As Brexit Britain weighs the option of a free-trade agreement to access to the EU single market, it would do well to consider the sobering example of a similar deal betweenEurope and Canada. It is relatively uncontentious, yet floundering in choppy political waters. Known as CETA, talks on a deal ...
FT Brussels Blog   |   Mon, 11 Jul 2016 09:32:53

Hot foreign exchange app Revolut is worth £60 million in £6.75 million funding round

Fast-growing foreign exchange startup Revolut has raised £6.75 million ($8.69 million) from venture capital firms including London blue-chips Balderton Capital and Index Ventures, and is raising a further £1 million ($1.29 million) through crowdfunding. London-based Revolut is an app linked to a pre-paid MasterCard. It lets people load money from ...
Business Insider   |   Mon, 11 Jul 2016 09:30:38

The promise of Regrexit

George Soros: After Brexit there has been a big swing in sentiment in favour of the EU. Europe's leaders should seize the opportunity Until the people of the UK voted to leave the European Union, the refugee crisis was the greatest problem Europe faced. Indeed, that crisis played a critical ...
George Soros / Guardian   |   Mon, 11 Jul 2016 09:30:34

Obama: "We must reject the 'us vs them' mentality of some politicians"

The US president addresses Brexit, populism, terrorism and Latin America
Marc Bassets / EL PAÍS   |   Mon, 11 Jul 2016 08:47:44

FTSE 100 Index climbs as US non-farm payrolls boost sentiment

Stocks large and small were in positive territory on Monday after upbeat US job news on Friday eclipsed 'Brexit' gloom, for the moment at least. The FTSE 100 Index climbed 10.68 points to 6601.32 while the FTSE 250 jumped 119.76 points to 16297.51. Meanwhile, the FTSE AIM 100 rose 7.47 ...
Proactive Investors   |   Mon, 11 Jul 2016 08:40:00

Tory leadership contest: Betting odds and poll predictions on who is favourite to become Prime Minister

Daniel Dunford / Telegraph   |   Mon, 11 Jul 2016 08:39:51

Passport aims for African integration

Despite wariness after Brexit, group of 54 countries moves towards pan-Africanism
FT   |   Mon, 11 Jul 2016 08:38:22

Paul Krugman: Cheap Money Talks

What is the "extraordinary plunge in long-term interest rates" telling us?: Cheap Money Talks, by Paul Krugman, NY Times: What with everything else going on, from Trump to Brexit to the horror in Dallas, it's hard to focus on developments...
Economist's View   |   Mon, 11 Jul 2016 07:51:00

Global shares rise on Wall Street gain on upbeat jobs report

Global shares rose Monday after Wall Street rose on a strong employment report and global investors recovered gradually from post-Brexit jitters
U.S. News   |   Mon, 11 Jul 2016 07:39:13

The great risk shift and populism

What's at stake: For many commentators, Brexit was the signal of a broad populist backlash and illustrated the need to articulate policies that address the grievances of those citizens who have been left behind by recent economic changes.
Bruegel   |   Mon, 11 Jul 2016 07:36:10

A slow train coming up around the bend

Drove back from Germany with enough Dylan CDs to cover the ten-hour drive. And had a revelation! This unequalled expert in messy break-ups sounded like he was commenting Brexit in every second song! It's even possible to put together a full heart-breaking post-referendum dialogue only using Dylan quotes: UK: I'll ...
Ideas on Europe   |   Mon, 11 Jul 2016 07:00:38

Futures higher following upbeat jobs report

U.S. stock futures were higher Monday, after Wall Street rallied on a U.S. jobs report and as investors continued to recover from post-Brexit jitters.
USA Today   |   Mon, 11 Jul 2016 06:59:14

Further reading

Elsewhere on Monday, - JW Mason: I don't see any method at all. - 'Hmmmm' inducing but interesting: "All told, the Brexit story is mainly about values, not economic inequality." - Age is more than just a number. - The strange story of a murdered banker in Puerto Rico. Continue ...
FT Alphaville   |   Mon, 11 Jul 2016 06:46:39

FTSE 100 opens modestly higher

The FTSE 100 was 32 points to the good at open this morning to 6.622, as a resilient US economy eased Brexit sentiment. The top winner was Anglo American (LON:AAL) up 26p or 3.5% to 771p. The biggest loser was Dixons Carphone (LON:DC) down 11p or 3.5% to 304p Preview ...
Proactive Investors   |   Mon, 11 Jul 2016 05:59:00

10 things you need to know in markets today

Good morning! Here's what you need to know in markets on Monday. Asian stocks are charging on Monday. Asian share markets enjoyed a relief rally on Monday as upbeat U.S. jobs data lessened immediate concerns about health of the world's largest economy, though long-run fallout from Brexit kept sovereign yields ...
Business Insider   |   Mon, 11 Jul 2016 05:54:35

Reasons behind Leave

I too think Brexit was a mistake and that many people voted for very negative reasons, including xenophobia and bigotry. However, I object to the vilification and demonisation of the people who voted Leave in Edward Caruana Galizia's article ('And thanks for fish and chips', July 5) as I think ...
Rupert Grech, Valletta / Times of Malta   |   Mon, 11 Jul 2016 04:14:05

Gold's Price Is Indicative of Turmoil, But Stock Prices Dispute That Theory

The tremendous rally in Gold this year has at times seemed somewhat reasonable. The Chinese markets brought volatility to America's Stock Markets and "Brexit" provided a continued element of uncertainty to worldwide markets. The Post-Brexit environment however, has been nothing but up for U.S. Equity Markets and without uncertainty in ...
Fred Oltarsh, Contributor / Forbes   |   Mon, 11 Jul 2016 02:12:00

Russell Napier Reveals The "Only Question That Matters For Global Investors"

From Russell Napier of ERI-C Now only one question matters for global investors --- Wo ist der Hubschrauber? (Where is the helicopter?). The decline of European commercial bank share-prices before Brexit made it clear that a monetary reflation of Europe was failing. The collapse in these same share-prices post-Brexit means ...
Zero Hedge   |   Sun, 10 Jul 2016 23:58:20

Lowest-paid workers to receive smaller pay rises, says thinktank

Uncertainty caused by Brexit vote means 'national living wage' will rise more slowly, according to the Resolution Foundation Millions of workers on the national living wage are set for smaller than expected pay rises by the end of the decade after the EU referendum, according to a thinktank. The "national ...
Sarah Butler / Guardian   |   Sun, 10 Jul 2016 23:01:35

What's Next for the Never Trump Camp?

Just as with Britain's Brexit vote, the smart money has decided that the Never Trump movement among Republican delegates has no chance of succeeding. The Donald has won 1,542 delegates, well above the 1,237 needed to nominate. No major alternative candidate has publicly said he wants to challenge Trump. Many ...
National Review   |   Sun, 10 Jul 2016 22:32:31

Irony Of The Day: Hollande Lectures US About Trump; Two-Way Frexit?

Submitted by Michael Shedlock via MishTalk.com, French president Francois Hollande endorsed Hillary Clinton while warning "U.S. Election Risks Turning Into Brexit Vote II". French President Francois Hollande, who last month endorsed Hillary Clinton in the U.S. presidential race, said the November ballot threatens to play out along similar lines to ...
Zero Hedge   |   Sun, 10 Jul 2016 22:00:00

A Swiss Way For The U.K.?

Switzerland has never been a member of the European Union. Former Swiss President Micheline Calmy-Rey says that it could provide a potential model for the U.K. after the "Brexit" vote.
NPR   |   Sun, 10 Jul 2016 21:18:29

Britain is plunging towards an economic nightmare, and it isn't just because of Brexit.

On Monday morning, Markit released its latest set of data on the state of the UK's construction sector, and to say things didn't look good would be an understatement. The sector slipped into contraction for the first time since April 2013, hitting just 46.o, a shock fall from an already ...
Will Martin / Business Insider   |   Mon, 4 Jul 2016 16:29:17

The Leave campaign was toxic - but 43 years of embarrassed pro-Europeanism paved the way for Brexit

Yes, the Leave campaign was dishonest and some have argued criminally irresponsible; but are British pro-Europeans blameless, asks Eunice Goes? Political parties have for years avoided any discussion on the positive aspects of the EU, they rarely explained how the UK benefits from EU investment, all while the Eurosceptic press ...
Blog Admin / British Politics and Policy at LSE   |   Sun, 3 Jul 2016 06:00:27

"The Loss Of Central Bank Credibility Is The Biggest Tail Risk" BofA Warns Brexit Threat Remains

Despite the rapid decline in short-term risk momentum, there is no doubt in BofA's mind that the world is a riskier place following the UK's decision to leave the EU. Hence, they warn, the chances for additional critical stress events as Brexit unfolds remain high, and given the critical role ...
Tyler Durden / Zero Hedge   |   Sat, 2 Jul 2016 22:45:00

Brexit fears push back hopes of US interest rate rise to 2018

Peter Spence / Telegraph   |   Sat, 2 Jul 2016 18:56:48

The economic risks of Brexit contagion

Poll may trigger a cycle of low growth and populist policies in the west, writes Kenneth Rogoff
FT   |   Fri, 1 Jul 2016 16:55:39

Fed's Stanley Fischer Says Brexit Implications Still Being Evaluated

Federal Reserve Vice Chairman Stanley Fischer said Friday the Fed will know more by its July meeting about the implications of the so-called Brexit vote for the U.S. economy, and said those effects will be weighed against positive incoming U.S. economic data.
WSJ   |   Fri, 1 Jul 2016 15:32:43

The Macroeconomics of Brexit: Motivated Reasoning?

Sloppy thinking is always a vice.
Paul Krugman / Paul Krugman - Blog   |   Thu, 30 Jun 2016 21:04:06

Brexit talks will be stunningly complex. Who will provide the statesmanship we need?

Tony Blair / Telegraph   |   Thu, 30 Jun 2016 21:00:00

Some Traders See Emerging Markets Coming Back

A week after the U.K. vote to leave the European Union sparked a global market rout, some investors are already betting that emerging markets are on their way back.
WSJ   |   Thu, 30 Jun 2016 20:19:52

Brexit has demolished George Osborne's deficit plan. The next PM will need one of their own

Jeremy Warner / Telegraph   |   Thu, 30 Jun 2016 19:29:19

Brexit and the Idea of European Disintegration

Britain has voted to leave the European Union (EU), or more accurately, England has voted to leave. The majority in Scotland, Northern Ireland and Gibraltar voted to remain. The opinion polls, the bookies and the markets did not predict this outcome. The mood of the nation, it would seem, is ...
Aidan Regan / Irish Economy   |   Thu, 30 Jun 2016 19:26:53

Italy rescues bank after EU plea snubbed

Germany turns down Renzi's request to ease rules during Brexit turmoil
FT   |   Thu, 30 Jun 2016 15:48:23

UK looks China and India after Brexit

Prime minister calls business leaders to Number 10
FT   |   Thu, 30 Jun 2016 11:27:07

The Real Lesson From Brexit

Luigi Zingales at ProMarket: The Real Lesson From Brexit: ...What we have observed in Britain and ... in the U.S. with Trump is a growing mistrust of voters toward experts. In the Brexit debate it was hard to find any...
Mark Thoma / Economist's View   |   Wed, 29 Jun 2016 18:57:44

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