Brexit News Archive: 19 Jul 2016

Rate cut could hinge on Q2 inflation

The Reserve Bank says Brexit fears won't hit the global economy too hard, but more sluggish local consumer prices could set the scene for an August rate cut.
SMH   |   Tue, 19 Jul 2016 22:16:07

Classic

Time for a little update on recent worries, memes and phobias. Lord knows, there's no shortage. First, Brexit. Hope you don't own property in London. It's already shaping up to be what the 'remain' guys forecast - an economic and financial challenge for little, isolated Britain. This week the IMF ...
Greater Fool   |   Tue, 19 Jul 2016 22:11:05

GLOBAL MARKETS-Stocks dip on earnings and growth worries; dollar rises

* Brexit uncertainty prompts IMF to cut global growth forecasts
Reuters   |   Tue, 19 Jul 2016 19:01:01

Hot Spots Short-Term ETF Traders Are Targeting

As the equities market swings, traders have incorporated leveraged and inverse exchange traded funds to jump on short-term opportunities and hedge around events, like the Brexit vote. "If ever there was a market environment for uncertainty hedging, it is now," Andy O'Rourke, Managing Director and Chief Marketing Officer at Direxion, ...
ETF Trends   |   Tue, 19 Jul 2016 18:39:43

Despite Rally, Cash Levels Still At Highest Level Since 2001: Buy Signal For Stocks, Says BofA

Global stocks and riskier junk-bonds have taken flight in the weeks after last month's 'Brexit' vote. The SPDR S&P 500 exchange-traded fund (SPY) has climbed 8% from its low on June 27 and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has climbed 4.3% (excluding dividend payouts). And ...
Focus on Funds   |   Tue, 19 Jul 2016 18:22:30

London stocks end flat but smaller stocks feel pulse of possible takeovers

London stocks ended flat on Tuesday although tech stocks fared well as speculation moved onto who might be snapped up next after news this week that Softbank is buying ARM Holdings (LON:ARM) in the wake of a Brexit-fuelled weaker pound. The blue-chip FTSE100 index ended up just 0.03% at 6,697, ...
Proactive Investors   |   Tue, 19 Jul 2016 17:53:00

Tuesday assorted links

1. How sex workers verify the identities of their clients. 2. Chat at the Institute for Economic Affairs with Stephen Davies. We covered Brexit, Trump, the great stagnation, why you won't live to 800, cultural diversity, and much more. I wasn't holding back for this one, and some crowd members ...
Marginal Revolution   |   Tue, 19 Jul 2016 17:45:48

Deutsche Bank: Global Growth Outlook Has Deteriorated Significantly

The global growth outlook for 2016 and 2017 has deteriorated since the start of the year, and Brexit only adds to downside risks, that's Deutsche Bank's observation of the global macro environment. Brigewater Via JPM: Global capex as % of [...]
Value Walk   |   Tue, 19 Jul 2016 17:18:17

Guest Contribution: "Brexit, Trump, and Workers Left Behind"

Today, we are pleased to present a guest column written by Jeffrey Frankel, Harpel Professor at Harvard's Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. This is an extended version of a column appearing at Project Syndicate, July 13. Many parallels have ...
Econbrowser   |   Tue, 19 Jul 2016 17:02:07

MiB: Richard Haass

This week on our Masters in Business podcast, we speak with Richard Haass, President of the Council on Foreign Relations. This conversation covered everything from Terrorism to Trade to Immigration to Brexit, and given all of the recent events overseas, could not ossibly be more timely. Haass, who has a ...
The Big Picture   |   Tue, 19 Jul 2016 16:00:05

Investors push money under the mattress

Despite the post-Brexit market rally, fund managers have gotten even more wary of taking risks.
CNBC   |   Tue, 19 Jul 2016 15:44:00

Airlines: So Much for Buy Local...

Ever since Brexit, analysts have been touting airline stocks like Southwest Airlines ( LUV ) and Spirit Airlines ( SAVE ) that cater primarily to travelers in the U.S. over Delta Air Lines ( DAL ), United Continental ( UAL ), and American Airlines ( AAL ), which have loads ...
Stocks To Watch   |   Tue, 19 Jul 2016 15:07:35

Under the guise of 'flexibility', Hermes is delivering a raw deal for its workers | Felicity Lawrence

The low-pay scandal at the delivery firm reveals a new norm of the workplace, where apparently 'self-employed' workers are exploited for the sake of a company's profits Want to know why the slogan "take back control" resonated so loudly with people voting for Brexit? One good place to look for ...
Felicity Lawrence / Guardian   |   Tue, 19 Jul 2016 14:15:37

USD/JPY extends gains after US data

USD/JPY extended gains at the beginning of the American session, reaching its highest level since the Brexit vote, as the dollar strengthened broadly.
Ani Salama / FX Street   |   Tue, 19 Jul 2016 13:33:22

IMF:modestly cuts global growth forecast

Brexit expected to have mild impact but agency sites risks of more severe effects
USA Today   |   Tue, 19 Jul 2016 13:01:19

IMF slashes world growth forecasts AGAIN

The U.K's vote to leave the European Union has pushed the International Monetary Fund to cut its world growth forecast for this year and next.
CNBC   |   Tue, 19 Jul 2016 13:00:00

Goldman Sachs continues to slash bonuses

These are challenging times for Wall Street investment banks. Goldman Sachs posted another big drop in revenue as Brexit worries took their toll. Goldman has cut its bonus pool and other expenses as well to compensate.
CNN   |   Tue, 19 Jul 2016 12:41:00

The Global Spread of Trumpism

I flew into Britain on June 23, the day of the Brexit referendum, or "Independence Day" as the country's most popular tabloid, and champion of leaving the European Union, put it. The next morning, results showed that London, Scotland, and Northern Ireland had voted to stay in the EU. But ...
Dominic Tierney / The Atlantic   |   Tue, 19 Jul 2016 12:07:35

Gold Holds Near Two-Week Low as Risk Appetite Rises on U.S. Data

Gold has consolidated near the low of the past two weeks following on from its Brexit rally. Having increased by 25% since the beginning of the year the pause in its' rally comes as Barnabas Gan, an economist at Singapore-based Oversea-Chinese Banking Corp observes that "Market risk-on sentiment seems to ...
Zero Hedge   |   Tue, 19 Jul 2016 11:24:04

Morning News: July 19, 2016

Crude Oil: Is A Gasoline Glut Emerging? German ZEW Investor Sentiment Deteriorates in Brexit Aftermath EU to Fine Truck Makers Over Price-Fixing and Other Collusion [...]
Eddy Elfenbein   |   Tue, 19 Jul 2016 11:06:13

10 things you need to know today (spy, spx, qqq, dia, yhoo, ibm, nflx, wfc)

Here is what you need to know. German confidence was hit hard by Brexit. The ZEW Indicator of Economic Sentiment for Germany plunged 26 points in July to -6.8. "Uncertainty about the [Brexit] vote's consequences for the German economy is largely responsible for the substantial decline in economic sentiment," professor ...
Money Game   |   Tue, 19 Jul 2016 11:05:00

Santander's fintech VC firm got another $100 million to invest - here is what it's looking for

Santander has given its fintech-focused venture capital firm InnoVentures another $100 million ($131 million) to invest after impressing with its initial investments. Santander InnoVentures has spent just over 50% of the $100 million initially allocated to the fund, which started out in 2014. The rest of that first tranche of ...
Business Insider   |   Tue, 19 Jul 2016 11:02:01

No Article 50 Until 2017

Jason Coppel QC, speaking for Brexit Secretary David Davis, has told the High Court that Article 50 will not be triggered this year. Some Brexiters will be nervous about this, but there is no legal imperative to trigger it immediately and it would be politically unwise to do so until ...
Guy Fawkes' blog   |   Tue, 19 Jul 2016 10:56:42

Digital Barriers in demand as security services seek greater vigilance

The horrific scenes rotating worldwide from one terror attack to another appear to have had little bearing on the world of investment recently. Nerves have given way amid guarded optimism post-Brexit, and the stock market ripples from tragedy seem to turn-over as fast as the news cycle. But what each ...
Proactive Investors   |   Tue, 19 Jul 2016 10:30:00

If the Left wants to win again, it must learn the art of storytelling

In post-truth Brexit Britain, politics has become a storytelling competition. The Left must respond with a vision of solidarity and liberation. Infographic by the One Spot. (Fair use)'Take Back Control' - it was the slogan wot won it. Those three words offered everything and promised nothing. They appealed to the ...
Open Democracy   |   Tue, 19 Jul 2016 10:17:39

Remorse and reflection

As a major influence on events, Brexit might not have shuffled off the stage but the world is settling down to the realities of separation; in terms more real to many of us, the marriage has broken down and we've packed our bags and moved out.
IFR   |   Tue, 19 Jul 2016 10:07:00

Even before Brexit, Theresa May's laws made Britain a hostile place for migrants

In the aftermath of the UK's vote for Brexit, the National Police Chiefs Council has documented a 42% increase in race-hate incidents. This escalation in racial tension comes as living as a migrant in the UK has been made even more difficult in recent years by laws introduced by Theresa ...
Richard Warren, Phd candidate, Kent Law School, University of Kent / The Conversation   |   Tue, 19 Jul 2016 10:03:32

Theresa May chairs first cabinet meeting as PM

Theresa May is chairing her first cabinet meeting since becoming PM, telling her ministers she does not want the UK to be "defined by Brexit".
BBC   |   Tue, 19 Jul 2016 09:14:31

Legal & General signs ICI pension deal

Insurer seeks to calm fears about its post-Brexit business model
FT   |   Tue, 19 Jul 2016 08:23:31

Why is UK note demand surging?

The stock of UK notes and coin in circulation was growing strongly before the Brexit referendum and the rate of increase has risen further since the vote. This may indicate resilience in retail spending. Alternatively, the public may be cash in expectation of negative interest rates and / or restrictions ...
Money Moves Markets   |   Tue, 19 Jul 2016 08:22:58

UK: July PMI numbers to show sharp deterioration, Brexit to hit retail sales - TDS

Research Team at TDS, suggests that Markit will release Flash UK PMIs alongside its euro area releases, and we expect the July numbers to show a sharp
Sandeep Kanihama / FX Street   |   Tue, 19 Jul 2016 07:35:41

Baby boomers are getting richer while millennials are getting poorer - and Brexit will make it worse

The millennial generation is now the poorest in Britain while older people are getting richer, according to the Institute of Fiscal Studies. The future doesn't look much brighter. Britain's vote to leave the European Union - a decision bolstered by the baby boomer vote - will leave economic uncertainty and ...
Lianna Brinded / Business Insider   |   Tue, 19 Jul 2016 07:20:21

Royal Mail hints of potential hit from 'Brexit'

Investors got little respite from volatility dogging Royal Mail PLC (LON:RMG) as it warned that lower economic growth could hit its letter and parcel business. Royal Mail, whose shares have hit a high of 541p and a low of 413p in the last year, noted that movements in gross domestic ...
Proactive Investors   |   Tue, 19 Jul 2016 07:15:00

A huge US bank is ignoring Brexit warning signs and is buying a £300 million new London HQ

Wells Fargo, the world's biggest bank by capitalisation, has given a huge vote of confidence in London's future as a financial hub post-Brexit, signing on for a new £300 million ($396 million) headquarters in the UK capital. The Financial Times reports that the US lender is buying an 11-storey building ...
Oscar Williams-Grut / Business Insider   |   Tue, 19 Jul 2016 07:10:22

IMF to cut global growth forecasts following Brexit vote - business live

The International Monetary Fund is expected to lower forecasts for world growth following Britain's decision to leave the European Union 8.03am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. All eyes will be on the IMF today as ...
Angela Monaghan / Guardian   |   Tue, 19 Jul 2016 07:05:24

"The Popular Revolt Against Globalization And The Abdication Of The Left" by Dani Rodrik

As the world reels from the Brexit shock, it is dawning on economists and policymakers that they severely underestimated the political fragility of the current form of globalization. The popular revolt that appears to be underway is taking diverse, overlapping forms: reassertion of local and national identities, demand for greater ...
Social Europe Journal   |   Tue, 19 Jul 2016 07:00:44

SoftBank’s ARM Deal May Signal Life After Or Not.

A $32 billion deal for an English semiconductor company sparked rejoicing, but some reflection suggests it may be a special case.
LESLIE PICKER / NY Times   |   Tue, 19 Jul 2016 06:47:06

Brexit could help revive British manufacturing

British brands need to design, manufacture and produce locally - fashion entrepreneur Heidy Rehman believes luxury brands can drive the change Amid the fear and uncertainty surrounding Britain's post-Brexit future, a spotlight has shone on the imbalance of our economy, its weighting to services over manufacturing. But I believe there ...
Heidy Rehman / Guardian   |   Tue, 19 Jul 2016 06:45:26

SoftBank’s $32 Billion Deal for Chip Designer ARM Is Britain’s Biggest Since Brexit

The deal gives the Japanese company access to chip designs for phones and other small devices.
LESLIE PICKER, MARK SCOTT and JONATHAN SOBLE / NY Times   |   Tue, 19 Jul 2016 06:37:55

Rate cut could hinge on Q2 inflation

The Reserve Bank says Brexit fears won't hit the global economy too hard, but more sluggish local consumer prices could set the scene for an August rate cut.
SMH   |   Tue, 19 Jul 2016 06:26:20

BGC agrees deal for UK rival Sunrise

US interdealer broker shrugs off Brexit fears to buy highly-valued London asset
FT   |   Tue, 19 Jul 2016 06:13:49

Martin Weale's doubts over need for interest rate cut boost markets

Sterling rose and the City's leading share index closed at its highest level for 11 months after a Bank of England policymaker said a lack of panic since Britain's shock Brexit vote called into question the need for a knee-jerk cut in interest rates.
Here Is The City   |   Tue, 19 Jul 2016 06:08:33

Why dismissing uncomfortable views as 'far right' risks political complacency

As the excavation of what explains the Brexit vote drills ever deeper, it is striking that the outcome of a campaign in which immigration was key appears to have come as a surprise, writes Hilary Pilkington. Based on insights from her ethnographic study of English Defence League activism, she explains ...
British Politics and Policy at LSE   |   Tue, 19 Jul 2016 06:00:01

Europe's Impossible Refugee Math: Brexit Was Mathematical Certainty Eventually

Submitted by Michael Shedlock via MishTalk.com, In a recent GMO commentary on Immigration and Brexit, founder Jeremy Grantham laid out precise reasons why Brexit was a mathematical certainty eventually. Curiously, Grantham thinks Brexit was a bad idea. On the second sentence, I disagree strongly. The following snips, including bullet points ...
Tyler Durden / Zero Hedge   |   Tue, 19 Jul 2016 06:00:00

RBA Minutes: Lot of time was spent discussing Brexit - TDS

Research Team at TDS, notes that the RBA Minutes of the July meeting suggests that a lot of time was spent discussing Brexit. Key Quotes "But the Bo
Sandeep Kanihama / FX Street   |   Tue, 19 Jul 2016 05:37:49

Goldman Sachs: five things to watch

Profits, FICC, investing and lending, Brexit, and headcount all in focus at Wall Street thoroughbred
FT   |   Tue, 19 Jul 2016 05:02:47

Court hears legal challenge to Brexit

First of three actions around the Article 50 process
FT   |   Tue, 19 Jul 2016 04:30:30

Brexit and the EU's divorce manual

Article 50 provides clues on how the UK will break up with Brussels
FT   |   Tue, 19 Jul 2016 04:30:03

What J.P. Morgan Found When it Weighed Its Own Brexit

J.P. Morgan Chase & Co. Chief JamesDimon had his bank weigh the possibility of its owntype of'Brexit'years before it happened for the U.K.
WSJ   |   Tue, 19 Jul 2016 04:13:11

Quick Post: Markets at All-Time Highs

While away, markets have done their best to rally behind my back. The Brexit reaction has delivered surprising gains - even the FTSE 100 has broken to new near time highs - and it would appear this surprise (is it?) has caught many players on the wrong side of the ...
Fallond Stock Picks   |   Tue, 19 Jul 2016 02:21:09

RBA unfazed by Brexit, cuts may come

The Reserve Bank says uncertainty caused by Brexit won't hit the global economy too hard, but low Australian inflation could trigger another rate cut in August.
SMH   |   Tue, 19 Jul 2016 01:37:14

Wells Fargo's Response to Brexit? Buying in London's Financial District

Wells Fargo agreed to spend about $400 million on a new property in London and consolidate its operations there, a move that comes just under a month after U.K. voters chose to leave the European Union.
WSJ   |   Tue, 19 Jul 2016 01:28:04

Asia's central banks are 'losing their punch'

On the surface, Asia's economy doesn't look that bad. Growth is slowing, but hasn't collapsed. China's economy was boosted by a generous stimulus in the second quarter. Brexit has barely affected the region at all. But look a little closer, and it's not quite so hopeful. That's the conclusion of ...
Money Game   |   Tue, 19 Jul 2016 00:07:00

Post-Brexit Calm Doesn't Bode Well For Gold

We left off last week taking a look at some key charts to watch. U.S. stocks closed just off of record highs, after five consecutive days of printing new record highs during the week. The last time that happened, in 1998, the S&P 500 went on to climb 50% over ...
Bryan Rich, Contributor / Forbes   |   Tue, 19 Jul 2016 00:03:00

Foreign NHS workers must be assured they are still 'welcome' after Brexit vote, Simon Stevens says

Peter Dominiczak / Telegraph   |   Mon, 18 Jul 2016 23:23:23

Martin Weale's doubts over need for interest rate cut boost markets

Sterling rises and shares up after monetary policy committee member's comments seen as less supportive of Bank intervention Sterling rose and the City's leading share index closed at its highest level for 11 months after a Bank of England policymaker said a lack of panic since Britain's shock Brexit vote ...
Larry Elliott Economics editor / Guardian   |   Mon, 18 Jul 2016 23:01:17

Theresa May says 'Britain must not be defined by Brexit'

Steven Swinford / Telegraph   |   Mon, 18 Jul 2016 23:01:00

Politics against democracy: tracing the roots of Brexit.

Brexit cannot simply be attributed to contemporary alienation. We must examine the referendum result in the context of a long history of anti-democratic trends in UK governance. Economist Milton Friedman leaves a meeting at Downing Street, 1980. Photo: / PA Archive/Press Association Images. All Rights Reserved After the EU Referendum ...
Trevor Smith / Open Democracy   |   Mon, 18 Jul 2016 23:00:01

Don't Reform The Fed, Fed-Exit!

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, Opponents of a central bank should take advantage of the post-Brexit vote revival of secessionist sentiments to promote a secession from central banking, or Ending the Federal Reserve's monopoly on money is the key to restoring and ...
Tyler Durden / Zero Hedge   |   Mon, 18 Jul 2016 22:25:00

Brexit Bargains Aren't Only Thing Driving U.K. Deals

The steep fall in the pound after last month's Brexit vote has U.K. boardrooms on guard for opportunistic foreign bidders, but while there has been a raft of deals since the June 23 referendum, they have been a lot more complicated than simple bargain hunting.
WSJ   |   Mon, 18 Jul 2016 22:00:56

SoftBank’s ARM Deal May Signal Life After Or Not.

A $32 billion deal for an English semiconductor company sparked rejoicing, but some reflection suggests it may be a special case.
LESLIE PICKER / NY Times   |   Mon, 18 Jul 2016 21:49:44

U.S. banks' strong trading results bode well for Canadian dealers

Brexit's muted effect on U.S. investment banks gives a positive outlook for Canadian institutions
Globe Investor Streetwise   |   Mon, 18 Jul 2016 21:27:26

The radical blueprint the NHS needs to survive life after Brexit

Simon Stevens / Telegraph   |   Mon, 18 Jul 2016 21:00:00

Bank Bulls Beware: Stocks Below Pre-Brexit Levels

Low rates keep hurting banks. Though the sector roared back this month, the major trend remains to the downside.
Barrons   |   Mon, 18 Jul 2016 20:25:18

How To Profit From Brexit And U.K. Distress - Part Two

As with any major geopolitical event, there are bound to be both winners and losers. Obvious winners will be law firms getting increased consulting and legal assignments as companies consider moving their operations, or seek advice about this change. Exporters operating out of the UK will be able to operate ...
George Schultze, Contributor / Forbes   |   Mon, 18 Jul 2016 20:21:00

What's Moving the Market's Views on the Path of Short-Term Rates?

As today's previous macroblog post highlighted, it seems that the United Kingdom's vote to leave the European Union-commonly known as the Brexit-got the attention of business decision makers and made their business outlook more uncertain. How might this uncertainty be...
MacroBlog   |   Mon, 18 Jul 2016 20:03:09

A Tempting Brexit Property Play

A Tempting Brexit Property Play The disdain for Britain's property market has held down Kennedy-Wilson, creating a buying opportunity.A Tempting Brexit Property PlayBy David Englander The disdain for Britain's property market has held down Kennedy-Wilson, creating a buying opportunity.
Barrons   |   Mon, 18 Jul 2016 19:59:42

Software Guidance Chilled by Brexit

The general macro uncertainty may result in fairly conservative second-half guidance from most software companies.
Barrons   |   Mon, 18 Jul 2016 19:39:07

US Leveraged Loan Issuance Rebounds, High Yield Bonds Emerge As Post-Brexit Markets Heat Up

There islife in the new-issue U.S. leveraged finance market for the first time since the U.K. Brexit vote, thanks largely to a rapidly accelerating leveraged loan segment thatis seeingopportunistic issuers come off the sidelines. U.S. syndicated loan issuance last week totaled a relatively hearty $14.3 billion, up noticeably from $3.4 ...
Tim Cross, Contributor / Forbes   |   Mon, 18 Jul 2016 19:39:00

The Yipee Stock Market?

Aaron Task of Fortune reports, 3 Reasons the Stock Market Is Rising Even As the World Feels Like It's Falling Apart: It's been three weeks since British voters shocked the world and voted to leave the EU. After a two-day Brexit freakout, the stock market pretty much returned to business ...
Leo Kolivakis   |   Mon, 18 Jul 2016 19:37:00

SoftBank strikes while Brexit iron is hot

Purchase of UK's Arm would play to both pro- and anti-Brexit positions
FT   |   Mon, 18 Jul 2016 19:02:30

Japanese bet on UK tech group ARM is no backing for Brexit Britain

The chips are down. Dario Lo Presti/Shutterstock SoftBank, a Japanese technology business, has agreed to buy Cambridge-based chip designer ARM Holdings for a European record US$32 billion for a technology business. The deal was hailed by the new chancellor of the exchequer as a sign that Britain remains "open for ...
John Colley, Professor of Practice, Associate Dean., University of Warwick / The Conversation   |   Mon, 18 Jul 2016 18:58:01

Five key rules should guide our post-Brexit trade deals

Matthew Lynn / Telegraph   |   Mon, 18 Jul 2016 18:56:41

Arm investors should put up or shut up

Japanese group picks moment of maximum uncertainty post-Brexit to sweep chip designer off its feet
FT   |   Mon, 18 Jul 2016 18:50:20

The UK-EU battle over free movement and terms of trade | Letters

David Davis, secretary of state for exiting the EU, has focused his attention on removing the rights of EU workers in the UK (EU workers may get backdated deadline to stay, 18 July). The prime minister, Theresa May, is also interpreting the Brexit vote as a vote to end the ...
Letters / Guardian   |   Mon, 18 Jul 2016 17:50:57

U.K.'s Big Brexit Test: Keeping London's Financial Crown

One of Theresa May's biggest challenges is to find a Brexit deal that preserves the success of the U.K.'s giant financial services industry, which is so central to the country's economic fortunes, Simon Nixon writes.
WSJ   |   Mon, 18 Jul 2016 17:47:09

This sell-off of British businesses must stop | John Mills

As foreign investors buy up UK companies such as the technology firm ARM Holdings, we lose the profits and skills Britain so desperately needs On the face of it, SoftBank's purchase of the UK technology firm ARM Holdings is good for Britain. Despite the media gloom surrounding Brexit, and the ...
John Mills / Guardian   |   Mon, 18 Jul 2016 17:46:03

This Brexiteer is attending the RNC...

Former UK Independence Party leader and Brexit standard-bearer Nigel Farage will be attending the Republican Convention in Cleveland this week.
CNN   |   Mon, 18 Jul 2016 17:11:33

How to Profit from Brexit and U.K. Distress

The world's financial markets exhibited a shocking reaction to the news that, by a slight margin (52% to 48%), voters in the UK chose to leave the European Union, with most major indexes showing massive declines in the following few days. Part of the intense reaction was certainly because many ...
George Schultze, Contributor / Forbes   |   Mon, 18 Jul 2016 16:52:00

My 350 on BREXIT: Last call for new leaders?

We could yet be thanking the UK for saving us by the alarm bell. The failure of reason and rise of populism require adequate measures in response to preserve a progressive rule-based system. Today, irresponsible, radicalized elements, with an eye on power, shop through left, right and center political agendas ...
Marcin Buzanski / Open Democracy   |   Mon, 18 Jul 2016 16:41:43

L&G eases property fund Brexit discount

The 'fair value adjustment' imposed on investor redemptions is lowered to 10%
FT   |   Mon, 18 Jul 2016 16:39:15

Housing is key to post-Brexit Britain

Boosting supply can deliver fiscal stimulus and help calm public resentment, writes Delphine Strauss
FT   |   Mon, 18 Jul 2016 16:29:25

Calls Reveal Hot Earnings Topics For Q2: Brexit, FX, Oil

Calls Reveal Hot Earnings Topics For Q2 by John Butters - FactSet While the majority of S&P 500 companies will report earnings results for Q2 2016 over the next few weeks, approximately 7% of the companies in the index (35 [...]
FactSet / Value Walk   |   Mon, 18 Jul 2016 16:27:33

Job postings surge post-Brexit

Seeking Alpha / Seeking Alpha   |   Mon, 18 Jul 2016 16:26:52

British Land sees Brexit-induced caution

Property group prepares for tenants to tread carefully after vote
FT   |   Mon, 18 Jul 2016 16:24:52

Ariel Investments June 2016 Commentary

Ariel Investments commentary for the month ended June 30, 2016. H/T Dataroma Obviously, the Brexit vote was the big event this month, and what a short, strange trip it has been. On June 23rd, the United Kingdom's citizens voted whether [...]
Value Walk   |   Mon, 18 Jul 2016 16:15:47

The Stoler Report - BREXIT & Its Effects on Commercial & Residential Rea...

The topic of discussion by many real estate leaders is what is the affect on BREXIT on the commercial & residential real estate market in the U.S. and the metropolitan region. Debuting on Tuesday, July 19th, the Stoler Report: NY's Business Report focuses on this discussion with guests Dr. Sam ...
Michael Stoler / Michael Stoler   |   Mon, 18 Jul 2016 16:03:00

WSJ City's Brexit Briefing: Bargains Aren't the Only Thing Driving UK M&A, Business Confidence Collapses

Good afternoon from London. Here's essential reading for the City on today's Brexit developments. For updates throughout the day, you can download WSJ City for iPhone here or Android here You'll need to open this email on your mobile device to do this. And you can sign up to receive ...
Philip Georgiadis / MoneyBeat   |   Mon, 18 Jul 2016 15:51:45

The FTSE 100 is at an 11-month high

The FTSE 100 closed up 0.42% at 6,697.00 on Monday, its highest close since August 2015. The London-based index has been rising steadily in the wake of the shock Brexit referendum result as many on the companies listed there report earnings in dollars. The pound has been diving against the ...
Business Insider   |   Mon, 18 Jul 2016 15:49:11

Ghana holds rate, to dampen Brexit impact on economy

Ghana's central bank maintained its policy rate at 26.0 percent, saying the recent rise in inflation from the pass-through of higher petroleum prices, utility tariffs and food prices was largely cost-push in nature so the current policy stance was deemed to be appropriate. The Bank of Ghana, which has kept ...
centralbanknews.info / Central Bank News   |   Mon, 18 Jul 2016 15:27:00

So Now Brexit Is Good For Markets?

The weekly market update is posted at Alpha Baskets and includes the following; The title to this week's update is meant to be tongue in cheek as we suspect that beyond the kneejerk/snapback cycle a couple of weeks ago, the US markets are not being influenced by what Brexit will ...
Roger Nusbaum / Random Roger   |   Mon, 18 Jul 2016 15:24:49

Defense chief says UK will have to work harder after Brexit

Defense Secretary Michael Fallon says Britain will have to work harder to maintain its military and political influence on the global stage after it leaves the European Union
U.S. News   |   Mon, 18 Jul 2016 15:21:11

The age factor and rising nationalism

A specter is haunting the modern world yet again-the specter of nationalism. From Brexit to electoral cycles in Europe and the United States, the "nation" is reasserting itself as the primary unit of economic, social, and political realms. The tide has changed against globalism rather unexpectedly. To be sure, there ...
Brookings   |   Mon, 18 Jul 2016 15:05:00

Softbank to buy ARM in big post-Brexit deal

Japanese technology company SoftBank Group Corp. is buying Britain's ARM Holdings for 24.3 billion pounds ($40.2 billion).
The Associated Press / CBC   |   Mon, 18 Jul 2016 14:56:11

Letter: Learning From the Past After Brexit

The European Union came about, in no small part, to stop the ancient cycle of war that had beset Europe for millenniums.
/ NY Times   |   Mon, 18 Jul 2016 14:52:03

An ETF to Consider for Rebounding U.K. Stocks

United Kingdom equities and the British pound tumbled immediately following last month's shocking Brexit decision, but many U.K. stocks have erased those losses, signaling that it could be time for investors to consider U.K. exchange traded funds. The iShares MSCI United Kingdom ETF (NYSEArca: EWU), a non-currency-hedged U.K. ETF, is ...
ETF Trends   |   Mon, 18 Jul 2016 14:49:20

Letter: England’s legacy with Brexit

The vote rests on nothing but a passing phase in public opinion, and it is entirely unburdened by the responsibility of implementation.
/ NY Times   |   Mon, 18 Jul 2016 14:46:45

Jeremy Grantham Warns On Immigration, Brexit

Immigration from outside Europe is a potentially explosive problem and Brexit may be its fuse.
Barrons   |   Mon, 18 Jul 2016 14:39:43

Telegraph: Prices of luxury London homes 'could fall as much as 50pc'

I'm struggling with the term "Luxury" in the context of London flats and housing. £2m gets you what exactly in London? "A simplistic Â'back of the envelopeÂ' computation shows there were 3,140 real estate transactions registered above £2m in London in 2015 (and 920 in 2016 leading up to Brexit)." ...
House Price Crash   |   Mon, 18 Jul 2016 14:33:00

Oil Acquisitions Rise After Energy Price Stability

Acquisition-hungry energy companies are back on the prowl. Dealmakers have recovered from the shock of Britain's "Brexit" vote last month to leave the European Union and have resumed buying oil and gas fields in choice locations in Canada and the United States, restocking their inventories on a bet that a ...
Alfonso Esparza / OANDA   |   Mon, 18 Jul 2016 14:32:18

SoftBank’s $32 Billion Deal for Chip Designer ARM Is Britain’s Biggest Since Brexit

The deal gives the Japanese company access to chip designs for phones and other small devices.
LESLIE PICKER, MARK SCOTT and JONATHAN SOBLE / NY Times   |   Mon, 18 Jul 2016 14:22:53

Brexit widens chasm between Wall Street and Europe's investment banks

Market ructions caused by Britain's decision to leave the European Union are set to widen the gulf between Wall Street and European investment banks, potentially leaving the continent without its own global champion.
IFR   |   Mon, 18 Jul 2016 14:01:00

Scots cannot veto Brexit: May

British PM Theresa May is to make clear to Scotland's First Minister Nicola Sturgeon that she cannot veto Brexit.
Austrailian   |   Mon, 18 Jul 2016 14:00:00

Brexit could mean $8bn revenue loss for investment banks, says BCG

Britain's vote to leave the European Union will probably reduce global investment banks' revenue by about $8bn and could push securities firms to exit some trading businesses, according to a report by the Boston Consulting Group.
Here Is The City   |   Mon, 18 Jul 2016 13:52:12

GOLDMAN: This 'textbook' rally in stocks has a long way to go

After a post-Brexit misstep, the stock market has regained its footing and roared past all-time highs in the past week. The strength has been broad-based and it appears to Sheba Jafari, a technical analyst at Goldman Sachs, that this upwards trend in markets can continue for a long time. "If ...
Business Insider   |   Mon, 18 Jul 2016 13:51:35

Computer-based hedge funds big winners on Brexit night

As hedge fund manager Buford Scott sat at home, watching the TV in shock as it emerged Britain had voted to leave the European Union, his computer-based trading models were quietly boosting his business by 1.5%.
Here Is The City   |   Mon, 18 Jul 2016 13:50:33

Still Alive! Intermittent Posting until August 9th

Mix of Work Travel and Vacation has me AFK until August 9th. Surprised to see markets pushing highs given Brexit, but market does what market does :)Posting again soon...You've now read my opinion, next read Douglas' and Jani's.I trade a small account on eToro, and invest using Ameritrade. If you ...
Fallond Stock Picks   |   Mon, 18 Jul 2016 13:43:56

Turkish Stocks Crash Most In 3 Years, Give Up Brexit Gains

What goes up in a linear centrally-planned way, plunges cliff-diver-like on a 'failed' coup... Borsa Istanbul 100 is down over 10% - the biggest single-day plunge since June 2013... So much for central-planning? Just take a look at that chart - off the Brexit crash the Turkish stock market rallied ...
Tyler Durden / Zero Hedge   |   Mon, 18 Jul 2016 13:35:59

18Jul/Ignazio Visco: Italy's economy and banking sector in the aftermath of "Brexit"

Address by Mr Ignazio Visco, Governor of the Bank of Italy, at the 56th Italian Banking Association Annual Meeting, Rome, 8 July 2016.
BIS   |   Mon, 18 Jul 2016 13:08:00

Brexit didn't influence ARM bid: Softbank

Brexit and the falling pound did not influence the timing of Softbank's $32 billion bid for U.K. semiconductor giant ARM Holdings.
CNBC   |   Mon, 18 Jul 2016 13:01:00

City of London sees Brexit differently to new minister

Financial services industry's big priority is easy access into the EU single market
FT   |   Mon, 18 Jul 2016 12:46:48

German central bank: Economy should grow despite Brexit

BERLIN- Germany's central bank says the country's economy, Europe's largest, should continue to grow in the third quarter despite Britain's decision to leave the European Union. The Bundesbank said in its monthly report Monday that a robust labor market, higher wages and the European Central Bank's loose monetary policy should ...
CNBC   |   Mon, 18 Jul 2016 12:36:00

Labour pledges national investment bank to mobilise £500bn

Shadow chancellor also promises to build network of regional banks to 'rebuild Britain's industries after years of neglect' John McDonnell has pledged that Labour will mobilise £500bn of investment and lending from the creation of a new national investment bank to help the UK economy recover post-Brexit - with £350bn ...
Jessica Elgot / Guardian   |   Mon, 18 Jul 2016 12:33:42

The China Debate

China's rapid credit expansion is worrying. Will Chinese policymakers be able to contain the growth of credit without undermining economic growth and without triggering a banking or currency crisis? Aside from the consequences of Brexit, this is probably the most important issue facing global policymakers and investors today. As it ...
Steve Cecchetti and Kim Schoenholtz / Money, Banking and Financial Markets   |   Mon, 18 Jul 2016 12:27:51

Ireland Hits Brexit Alarm

The prime minister is under pressure, economists are slashing growth forecasts and companies are warning of Brexit's dire consequences. London? No, Dublin. The intertwining of trade and finance means no other country is feeling the fallout from the U.K.'s vote to leave the European Union more than Ireland. In the ...
Dean Popplewell / OANDA   |   Mon, 18 Jul 2016 12:25:14

Wells Fargo's Response to Brexit? It's Buying in London's Finance District

Wells Fargo said it will buy a new property in London and consolidate its operations there, a move that comes just under a month after U.K. voters chose to leave the European Union.
WSJ   |   Mon, 18 Jul 2016 12:22:13

Bonddad's Monday Linkfest

Sector Performance For the Last Week6-Month Charts of the Major Sector ETFSeven sectors have broken through resistance.Ireland is Feeling the Brexit Heat (BB)"It's the most serious, difficult issue facing the country for 50 years," said John Bruton, 69, who was Irish prime minister between 1994 and 1997 and later served ...
Bonddad Blog   |   Mon, 18 Jul 2016 12:19:00

Brexit Watch: Sturgeon's Scottish veto, halving house prices and ARM Holdings

Scotland's First Minister Nicola Sturgeon warned that she had a "strong position" to block Britain's exit from the European Union, following her meeting with Prime Minister Theresa May in Edinburgh last week. The Prime Minister said that Article 50 would not be enacted until a "UK-wide approach" had been agreed. ...
Proactive Investors   |   Mon, 18 Jul 2016 12:09:00

Brexit spurs 10 London start-ups to enquire about move to Berlin

BERLIN (Reuters) - Ten London start-ups have made enquires about moving to Berlin since Britain voted to leave the European Union, business development group Berlin Partner said on Monday.
Reuters: Technology News / Embargo Zone   |   Mon, 18 Jul 2016 12:05:13

GMO's Jeremy Gtrantham Talks Immigration and Brexit

From Grantham Mayo Van Otterloo, July 2016: Immigration and Brexit Preface I set myself a task this quarter to give my views on why suddenly so many strange things are going on in the US and in the UK and what they might mean. We in the US can see ...
climateer / Climateer Investing   |   Mon, 18 Jul 2016 12:02:00

Racism in the NHS: don't let the unspeakable become acceptable

The Brexit vote has sharpened the risk that NHS staff and patients experience racial & xenophobic abuse - and highlighted the problems that are already there. How should those running the NHS respond? The sharp recent increase in reported hate crime - the worst rise on record - is linked ...
Open Democracy   |   Mon, 18 Jul 2016 12:00:42

EU Said to Eye 'Nuclear Option' to Force May's Hand on Brexit

European Union, officials on the continent have begun to float what they call "the nuclear option" to bring new British Prime Minister Theresa May to table: suspending Britain's voting rights in EU institutions, reports Bloomberg. Several member states have started looking at whether a suspension would be feasible by invoking ...
Robert Wenzel / Economic Policy Journal   |   Mon, 18 Jul 2016 12:00:00

Brexit 'worse than Lehman' for finance execs

A survey of the U.K.'s biggest companies found that about 80% of chief financial officers expect hiring and spending to slow down in the aftermath of the Brexit vote.
CNN   |   Mon, 18 Jul 2016 11:59:46

Brexit: The dog that didn't bite rate spread products - TDS

Gennadiy Goldberg, US Rates Strategist at TDS, suggests that there is little evidence of a sustained hit to investor confidence in the rate spread pro
Sandeep Kanihama / FX Street   |   Mon, 18 Jul 2016 11:55:19

Brexit 'worse than Lehman' for top U.K. finance execs

A survey of the U.K.'s biggest companies found that about 80% of chief financial officers expect hiring and spending to slow down in the aftermath of the Brexit vote.
CNN   |   Mon, 18 Jul 2016 11:53:03

Amid the gloom, Brexit provides an opportunity for Labour | Ed Miliband

Pessimism is no use when a new chapter for the country is being written. Labour must use this moment to attack inequality and bring power closer to people Doom, gloom and despondency are perennials of progressive politics. It doesn't mean they're not justified at times. And this certainly feels like ...
Ed Miliband / Guardian   |   Mon, 18 Jul 2016 11:30:10

The price of panic: Missing the rebound rally

Investors who and sold in February and after the Brexit scare, missed out on big rallies.
USA Today   |   Mon, 18 Jul 2016 11:03:52

Frankfurt tries to tempt the bankers fleeing a post-Brexit Britain

City highlights its low rents, good transport links and international population for firms considering a move from London Dishing out servings of her award-winning gelbe wurst (yellow pork and veal sausages) to customers in Frankfurt's covered market as she has been doing for the past 58 years, Ilse Schreiber said ...
Kate Connolly in Frankfurt am Main / Guardian   |   Mon, 18 Jul 2016 10:59:09

Brexit could cut London house prices by more than 30%, says bank

Société Générale warns high-end properties could even halve in value as companies move top staff abroad London property prices could fall by more than 30% in the wake of Britain's vote to leave the EU and may halve in the most expensive parts of the city, according to analysts at ...
Sean Farrell / Guardian   |   Mon, 18 Jul 2016 10:58:39

Brexit-Schmexit

Do you remember the panic-inducing headlines related to PIIGS, Crimea, Ebola, Cyprus, and the Flash Crash? Probably not. But if you do remember, these false alarms have likely been relegated to the financial memory graveyard, along with the many other [...]
Investing Caffeine / Value Walk   |   Mon, 18 Jul 2016 10:43:40

Brexit business tracker

How the UK's EU referendum vote has affected banks, technology companies and exporters
FT   |   Mon, 18 Jul 2016 10:43:36

Brits rush for EU passports after Brexit vote

Thousands of Brits are so worried about losing their access to the European Union that they're lining up for passports from other countries in the bloc.
CNN   |   Mon, 18 Jul 2016 10:33:43

Why UK property isn't a bargain - despite the Brexit vote

Bargain-hunters circling the U.K. property market after the post-Brexit plunge in sterling stand to get their fingers burned, analysts say.
CNBC   |   Mon, 18 Jul 2016 10:29:00

Thousands of Brits rush for EU passports after Brexit vote

Thousands of Brits are so worried about losing their access to the European Union that they're lining up for passports from other countries in the bloc.
CNN   |   Mon, 18 Jul 2016 10:28:30

Plastics Capital: Impervious to cyclical blips, set for growth

Market crises, the oil sector's wobble, Grexit and now Brexit have all failed to hobble Plastics Capital, a business for all seasons (or cycles). "None of those things has floored the business though we may have fired on three cylinders rather than four sometimes," said Chairman Faisal Rahmatallah. The latest ...
Proactive Investors   |   Mon, 18 Jul 2016 10:25:00

BoE's Weale: BoE should wait for firmer evidence before changing policy - TDS

Research Team at TDS, notes that in the UK MPC member Martin Weale spoke this morning about the impact of Brexit on monetary policy. Key Quotes "As
Sandeep Kanihama / FX Street   |   Mon, 18 Jul 2016 10:22:38

Confusion Over Brexit Complacency; Concern Over UK Real Estate

HSBC and its institutional clientèle are confused. After an unprecedented level of fear was generated surrounding the Brexit vote, how is it that the stock market is so positive? But that's not the only concern HSBC's institutional clients are pondering. What [...]
Mark Melin / Value Walk   |   Mon, 18 Jul 2016 10:18:01

W​e need nothing short of a wholesale review of housing policy​ after Brexit

The report by the House of Lords economic affairs committee should be required reading for the incoming housing minister, Gavin Barwell In this extraordinary glut of news stories, there is a risk that the recent report by the House of Lords economic affairs committee on housing supply, published on 15 ...
Bob Kerslake / Guardian   |   Mon, 18 Jul 2016 10:13:43

Months of Brexit turmoil ahead for UK firms, with property hardest hit, experts warn

Rhiannon Bury / Telegraph   |   Mon, 18 Jul 2016 10:04:21

IBM Guidance to See Dampened Brexit Impact

IBM's outlook will include pound weakness against the dollar but that will be offset by a resurgent yen.
Barrons   |   Mon, 18 Jul 2016 09:54:15

Standard Chartered PLC too expensive, suggests Deutsche

Asia-focused banking giant Standard Chartered (LON:STAN) is overpriced currently for the investor, reckons heavyweight broker Deutsche. The group reports first quarter numbers on August 3 and Deutsche reckons the focus being on emerging markets, the impact of the Brexit vote should be limited. "...Instead we expect focus will return again ...
Proactive Investors   |   Mon, 18 Jul 2016 09:53:00

Fintech MarketInvoice raises £7.2 million from Europe despite Brexit: 'Nothing changed'

London-based peer-to-peer small business financing platform MarketInvoice has raised £7.2 million from a Polish private equity company, despite question marks over Britain's future relationship with Europe. MarketInvoice raised the funding from the MCI.TechVentures Fund of MCI Capital Group, which has also backed Sweden's iZettle and UK money transfer startup Azimo. ...
Oscar Williams-Grut / Business Insider   |   Mon, 18 Jul 2016 09:51:02

Guardian: UK property asking prices drop 0.9% since June

The average asking price of homes coming on to the market in England and Wales has fallen since mid June, according to property website Rightmove, with the Brexit vote exaggerating the usual summer slowdown.
House Price Crash   |   Mon, 18 Jul 2016 09:42:03

UKIP Seeking to Take Advantage of "Oily" Smith

Will @OwenSmith_MP try to stop Brexit if he becomes Labour leader? "It's tempting" he says - The Andrew Marr Show (@MarrShow) July 17, 2016 UKIP are rolling their tanks onto Labour's lawn after Owen Smith said he would try to block Brexit if he becomes leader. Yesterday "Oily" Smith went ...
Guy Fawkes' blog   |   Mon, 18 Jul 2016 09:12:10

Sprint owner Softbank to buy ARM in big post-Brexit deal

TOKYO (AP) - Japanese technology company SoftBank Group Corp. is buying Britain's ARM Holdings for 24.3 billion pounds ($32 billion), in a deal the British government hailed Monday as a vote of confidence in the country following last month's vote to leave the European Union.
Associated Press   |   Mon, 18 Jul 2016 09:09:00

British Land defies Brexit pain to report a 'robust' start to the year

Rhiannon Bury / Telegraph   |   Mon, 18 Jul 2016 09:07:22

The money revolution being perpetrated by the world's central bankers: Don Pittis

This time it's Brexit, but it seems that after every global crisis the solution is the same: create more money. But there are growing signs that central bankers are unintentionally altering the conventional rules of economics and no one really knows where that will take us.
Don Pittis / CBC   |   Mon, 18 Jul 2016 09:00:00

Brexit news roundup

Seeking Alpha / Seeking Alpha   |   Mon, 18 Jul 2016 08:52:52

FTSE boosted by Arm takeover as analysts look for further deals

UK firms look good value after fall in sterling, according to the City Despite continuing global concerns - the fallout from Brexit, the attempted coup in Turkey - the proposed £24bn takeover of technology group Arm by Japan's Softbank has sent leading shares higher. The FTSE 100 is currently up ...
Nick Fletcher / Guardian   |   Mon, 18 Jul 2016 08:47:30

Christie Group warns on profits after Brexit blow to trading

Shares in Christie Group plc (LON:CTG) dropped 9% after it issued a profit warning Monday morning. In a trading statement, the business services group said operating profit for 2016 will be lower than expected after disappointing trading following the Brexit vote. Within its agency arm, the group said a small ...
Proactive Investors   |   Mon, 18 Jul 2016 08:47:00

What does Brexit mean for UK housing?

Britain's housing market is in a sorry state. With house prices forecast to fall, house building grinding to a halt and buyers pulling out of purchases amid job security fears, post-Brexit uncertainty has been worsened by the contrasting "visions" that won the vote. These opposing visions are now evenly represented ...
Alan Shipman, Lecturer in Economics, The Open University / The Conversation   |   Mon, 18 Jul 2016 08:43:26

Climate and energy policy after Brexit: Great Britain is cutting its energy links to Europe

The coming Brexit will confront Great Britain with new challenges in its climate and energy policy. Most likely big player in energy industry and NPP operators will profit from it. Within the European Union above all balance of power will shift. - Environment & Energy / Energy, Brexit, United Kingdom
Alexander Steinfeldt / New Federalist   |   Mon, 18 Jul 2016 08:42:44

Brexit is officially starting to destroy Britain's property prices - especially in London

We were warned time and time again by the UK Treasury that house prices would be hit by a Brexit. Now, after Britons voted to leave the European Union on June 23, we have evidence that this prediction is coming true, especially in London. Asking prices for UK properties on ...
Lianna Brinded / Business Insider   |   Mon, 18 Jul 2016 08:37:45

An Out of Office Comment From Nigel Farage on Brexit

Taki (who else?) ran into Nigel Farage in London and reports in: The highlight of my London season was, of course, giving a dinner at Hertford Street for my friend Greville Howard and then being taken upstairs by Robin Birley to meet my hero, Nigel Farage. Let's face it. Nigel ...
Robert Wenzel / Economic Policy Journal   |   Mon, 18 Jul 2016 08:37:00

The ultimate causes of Brexit: history, culture, and geography

Xenophobia, austerity, and dissatisfaction with politics are all being seen as having contributed to the Brexit vote. James Dennison and Noah Carl write that, although a number of concerns may have tipped the balance, Brexit was ultimately decided by more than recent events. Here, they demonstrate how the UK has ...
Blog Admin / British Politics and Policy at LSE   |   Mon, 18 Jul 2016 08:30:00

The UK's Post-Brexit Pension Policymakers

Britain's outgoing pensions minister hits out at "short-term political that have hindered pensions policy.
aiCIO   |   Mon, 18 Jul 2016 08:05:00

"After Brexit: The Light At The End Of The Tunnel Is Several Oncoming Trains" by Brendan Donnelly

Until the time of writing (15th July) the chaos wreaked on the United Kingdom by the disruptive and unexpected outcome of Mr. Cameron's referendum on 23rd June has been more obviously political than economic. The personal ambitions and resentments of the leading personalities in the "Leave" campaign have spilled over ...
Social Europe Journal   |   Mon, 18 Jul 2016 08:00:54

Letter: Is a Mistake

An British expatriate discusses what England gained from being part of the E.U.
/ NY Times   |   Mon, 18 Jul 2016 07:27:09

Asking prices for UK houses slip slightly after Brexit vote - Rightmove

Asking prices for British residential property slipped slightly more than usual after last month's vote to leave the European Union, though the overall impact remains hard to judge, figures from property website Rightmove showed on Monday. Average prices for property advertised in the four weeks to July 9 were 0.9 ...
Craig Erlam / OANDA   |   Mon, 18 Jul 2016 07:25:55

FT Opening Quote: Softbank bets on post-Brexit Britain

Softbank's blockbuster offer for Arm Holdings, British Land's wariness and Boris Johnson's Brussels debut as foreign minister. FT Opening Quote , with commentary by Naomi Rovnick, is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: Softbank bets on post-Brexit ...
Siona Jenkins / FT Alphaville   |   Mon, 18 Jul 2016 07:16:25

Risk Parity vs. Brexit: The Rebuttal

Losses incurred on June 23 were an outlier and not a portent of more difficulties ahead, managers say.
aiCIO   |   Mon, 18 Jul 2016 07:02:34

"Brexit Shows Us What Real First World Problems Look Like" by David Lizoain

Brexit is treated as exceptional when it is symptomatic of a far larger trend. The First World is breaking down, and this is prompting a dangerous backlash. The First World refers to both a place (the wealthy, industrial democracies), and a set of ideals that legitimated the system against the ...
David Lizoain / Social Europe Journal   |   Mon, 18 Jul 2016 07:00:12

British Farmland, Brexit And the Non-Farming Buyer

From FarmingUK: Non-farming buyers set to 'exert more influence' over farmland market following Brexit These buyers include investors, high net worth individuals, overseas and lifestyle buyers. Investors could find farmland more appealing in the face of wider economic uncertainty.There are already signs that overseas buyers could become more visible in ...
climateer / Climateer Investing   |   Mon, 18 Jul 2016 07:00:00

UK firms slash spending plans after Brexit vote - business live

All the day's economic and financial news, including the latest signs that the EU referendum is hurting the UK economy 7.46am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. There are three things on the agenda in the ...
Graeme Wearden / Guardian   |   Mon, 18 Jul 2016 06:55:56

David Davis has demonstrated a decidedly muddled understanding of trade policy

One of the arguments made by the Leave campaign during the UK's referendum was that Brexit would allow Britain to negotiate trade deals with other countries around the world more quickly than would be possible via the EU. Mark Manger writes that the plans outlined so far by David Davis, ...
EUROPP   |   Mon, 18 Jul 2016 06:30:15

WSJ City: ARM Snapped Up by SoftBank; Brexit's Dollar Dividend Boost; British Land Treads Cautiously

Good morning from London. Here's essential reading today from WSJ City.
Josie Cox / MoneyBeat   |   Mon, 18 Jul 2016 06:26:36

Boris Johnson assures EU of post-Brexit collaboration

New UK Foreign Secretary Boris Johnson said he would assure his EU counterparts today that Britain would continue to cooperate closely with them once it leaves the bloc following last month's Brexit referendum. "The message I'll be taking to our friends in the council is that we have to give ...
Reuters / Times of Malta   |   Mon, 18 Jul 2016 06:22:00

More Brexit idiocy about food

You know where this is going. Brexit feels to me like grief, and, deep in mourning, I can't stop thinking of the loved one, and all that she brought me. Of course, it's possible to exaggerate the effect the EU ... read more
Tim Worstall / Tim Worstall   |   Mon, 18 Jul 2016 06:20:37

Is backlash a symptom of *insufficient* immigration?

Bryan Caplan writes: The fact that Londoners showed little sympathy for Brexit is telling: People who experience true mass immigration first-hand tend to stop seeing it as a problem. as Tyler Cowen calls it, is a symptom of insufficient migration - the zone where immigrants are noticeable but not ubiquitous. ...
Marginal Revolution   |   Mon, 18 Jul 2016 05:43:56

UK: All eyes on MPC member Martin Weale's speech - TDS

Research Team at TDS, suggests that the UK external MPC member Martin Weale speaks about the impact of Brexit on monetary policy. Key Quotes "Weale
Sandeep Kanihama / FX Street   |   Mon, 18 Jul 2016 05:35:15

Brexit impact is going to be horrible, says leading City fund manager

One of the leading money managers in the City of London has said the fallout from Britain's vote to leave the EU will be and that the Square Mile is still "slightly stunned" by the result.
Here Is The City   |   Mon, 18 Jul 2016 05:27:47

Ross McEwan on Brexit: it's not a banking crisis - RBS has plenty of money

A little after 4.30am Ross McEwan picked up the phone to speak to his colleagues at Royal Bank of Scotland.
Here Is The City   |   Mon, 18 Jul 2016 05:26:27

North American oil deals trickle back after Brexit shock

By Mike Stone and Devika Krishna Kumar NEW YORK (Reuters) - Acquisition-hungry energy companies are back on the prowl. Dealmakers have recovered from the shock of Britain's "Brexit" vote last month to leave the European Union and have resumed buying oil and gas fields in choice locations in Canada and ...
Business Insider   |   Mon, 18 Jul 2016 05:24:57

UK economy must endure 'short, sharp shock' after Brexit vote

The UK economy will have to weather a short, sharp shock, with Brexit uncertainty holding back both business investment and consumer spending, according to a leading economic forecasting group.
Here Is The City   |   Mon, 18 Jul 2016 05:18:27

SoftBank strikes while Brexit iron is hot

Purchase of UK's Arm would plays to both pro- and anti-Brexit positions
FT   |   Mon, 18 Jul 2016 05:08:48

FirstFT - Crackdown in Turkey, how to make Brexit manageable and the ideal diet for a positive mind

Response to failed coup moves to president's inner circle Continue reading: FirstFT - Crackdown in Turkey, how to make Brexit manageable and the ideal diet for a positive mind
Bryan Harris / FT Alphaville   |   Mon, 18 Jul 2016 05:01:34

Brexit's plunging pound brings dividend bonanza

Jillian Ambrose / Telegraph   |   Mon, 18 Jul 2016 05:00:00

Crackdown in Turkey, how to make Brexit manageable and the ideal diet for a positive mind

Response to failed coup moves to president's inner circle
FT   |   Mon, 18 Jul 2016 04:52:29

Brexit triggers London house price cuts

Discounting surges in days following EU referendum
FT   |   Mon, 18 Jul 2016 04:31:17

Brexit worse than 2008, say finance chiefs

Businesses desperate for direction on negotiations with Brussels, says Deloitte research
FT   |   Mon, 18 Jul 2016 04:30:56

Brexit causes turf wars in Whitehall

Civil service is being restructured to deliver a breakaway from the EU
FT   |   Mon, 18 Jul 2016 04:30:33

IMF to slash UK growth forecasts in wake of Brexit vote

Szu Ping Chan / Telegraph   |   Mon, 18 Jul 2016 04:30:00

It seems Scotland and Northern Ireland must agree on invoking Article 50

Theresa May has indicated that Brexit could be delayed as she said she will not trigger the formal process for leaving the EU until there is an agreed "UK approach" backed by Scotland. The Prime Minister on Friday travelled to Scotland to meet Nicola Sturgeon, the First Minister, and discuss ...
Marginal Revolution   |   Mon, 18 Jul 2016 04:15:09

First Day

Last Monday was Antonia Romeo's first day as Her Majesty's Consul-General in New York. Romeo rose at six, skipping her morning SoulCycle class, and slipped on a pair of snakeskin Louboutins to welcome Britain's outgoing Chancellor of the Exchequer, George Osborne, who was in town to reassure Wall Street, post-Brexit. ...
New Yorker   |   Mon, 18 Jul 2016 04:00:00

Towards a progressive concept of efficiency - Part 1

Before I present the second part of my discussion about the relevance of re-nationalisation to what I would call a truly progressive policy agenda, we have to take a step backward. I note after the first part - Brexit signals ... Read the rest of this entry ...
Bill Mitchell   |   Mon, 18 Jul 2016 03:21:39

5 Ways Brexit Is Accelerating AWS And Public Cloud Adoption

Deutsche Bank estimates AWS derives about 15% of its total revenue mix or has attained a $1.5B revenue run rate in Europe. AWS is now approximately 6x the size of Microsoft Azure globally according to Deutsche Bank. These and other insights are from the research note published earlier this month ...
Louis Columbus, Contributor / Forbes   |   Mon, 18 Jul 2016 03:06:00

Could China's Banks Take Down the Global Economy?

Christopher Whalen Economics, Asia The Party has struggled to keep its banks in check. In the wake of the global market reaction to the UK's vote to leave the European Union, investors have redoubled their focus on China's economy and particularly the banking system. "Brexit is the noise, but China ...
Christopher Whalen / National Interest   |   Mon, 18 Jul 2016 02:35:00

The European Commission's Flaws Do Not Justify Brexit

Gerald F. Hyman Politics, Europe Britain receives more than it pays, and so will lose more than it gains. According to the polls, the Leave voters in the June 23 Brexit referendum were primarily animated by three grievances: the economic costs of EU membership, immigration from central Europe under the ...
Gerald F. Hyman / National Interest   |   Mon, 18 Jul 2016 02:30:00

The Week Ahead: Earnings Reports From Banking Leaders and Tech Giants

This week analysts will consider how banks are responding to the lull in interest rates and the so-called Brexit vote and auto industry officials will address cybersecurity in cars.
THE NEW YORK TIMES / NY Times   |   Mon, 18 Jul 2016 01:52:48

Post-Brexit Highs, Lows, Quandaries and Geopolitics

Post-Brexit Highs and Quandaries A post-Brexit range is coming into a semblance of order . The market is seeking to determine a new symmetrical level for both the Pound and Japanese Yen. While the next JPY trend is destined to be created on the back Tokyo's fiscal and monetary stimulus, ...
Stephen Innes / OANDA   |   Mon, 18 Jul 2016 01:49:12

Singapore June exports fall

The data add to growing risks for the trade-dependent economy as the Brexit fallout keeps policy makers under pressure to offer more stimulus.
CNBC   |   Mon, 18 Jul 2016 01:19:00

Scot no chance of Brexit veto

British PM Theresa May is to make clear to Scotland's First Minister Nicola Sturgeon that she cannot veto Brexit.
Austrailian   |   Mon, 18 Jul 2016 00:15:00

Expect further inflows into EM Asia: ANZ Research

Given continued Brexit uncertainty political instability in Turkey, investors will likely head to Asia, expects ANZ Research's Khoon Goh.
CNBC   |   Sun, 17 Jul 2016 23:56:00

The Struggling Norwegian Economy Illustrated in Charts

Submitted by Alexander Grover in Oslo, Norway The Norwegian Economy Illustrated in Charts Norges Bank continues to hold rates at .5%, signaling an upward bias but willing to cut if needed, depending on unforeseen external shocks like BREXIT. In my opinion, they really don't know what to do while the ...
Zero Hedge   |   Sun, 17 Jul 2016 23:48:11

Thailand keen on tariff-free deal with UK after Brexit vote

Thailand is revving up free trade talks with Britain after the latter's decision to leave the European Union makes it easier for it to pursue international trade talks.
Bangkok Post   |   Sun, 17 Jul 2016 23:35:00

Brexit fallout to hit UK economic growth says EY Item Club

The UK economy may face "severe loss of momentum" following the vote to leave the European Union, according to the EY Item Club.
BBC   |   Sun, 17 Jul 2016 23:16:42

Brexit set to deliver dividend windfall

Sterling's collapse to lift payouts by £4.3bn for companies trading in dollars and euros
FT   |   Sun, 17 Jul 2016 23:02:28

UK economy must endure 'short, sharp shock' after Brexit vote

Forecast group EY Item Club says business investment and consumer spending will be held back because of uncertainty The UK economy will have to weather a short, sharp shock, with Brexit uncertainty holding back both business investment and consumer spending, according to a leading economic forecasting group. As forecasters cut ...
Gwyn Topham / Guardian   |   Sun, 17 Jul 2016 23:02:13

UK property asking prices drop 0.9% since June

Rightmove says July's fall is marginally larger than the usual summer slowdown, but within range seen since 2010 The average asking price of homes coming on to the market in England and Wales has fallen since mid June, according to property website Rightmove, with the Brexit vote exaggerating the usual ...
Hilary Osborne / Guardian   |   Sun, 17 Jul 2016 23:01:13

Asking prices for UK houses slip slightly after Brexit vote - Rightmove

LONDON, July 18 (Reuters) - Asking prices for British residential property slipped slightly more than usual after last month's vote to leave the European Union, though the overall impact remains hard...
Reuters   |   Sun, 17 Jul 2016 23:01:01

Brexit nerves keep shoppers away in June

Marion Dakers / Telegraph   |   Sun, 17 Jul 2016 23:01:00

Richard III - Shakespeare's political masterpiece live

At a time when the United Kingdom is going through political upheaval, following Brexit, David Cameron's resignation and Theresa May becoming the country's prime minister, Spazju Kreattiv is showing Shakespeare's Richard III featuring Ralph Fiennes and Vanessa Redgrave. Broadcast live from the Almeida Theatre, under the artistic direction of Rupert ...
Times of Malta   |   Sun, 17 Jul 2016 22:01:01

Tariff-free deal with UK eyed after Brexit vote

Thailand is revving up free trade talks with Britain after the latter's decision to leave the European Union makes it easier for it to pursue international trade talks.
Bangkok Post   |   Sun, 17 Jul 2016 21:30:00

Brexit will make the NHS safer, top surgeon says

Henry Bodkin / Telegraph   |   Sun, 17 Jul 2016 21:00:00

Why Putin Loves Brexit

In the Russian president’s view, what makes Europe weaker makes him stronger.
ANDREW FOXALL / NY Times   |   Wed, 13 Jul 2016 15:10:59

Can OPEC Supply The Tighter Oil Market It Predicts?

OPEC expects oil demand to remain strong through 2017, but downgraded its assessment because of the Brexit result. In its latest monthly Oil Market Report for July, OPEC sees oil demand rising this year and next, almost exclusively from non-OECD Asia. The OECD, which includes the U.S. and Europe, only ...
Nick Cunningham / Oil Price   |   Tue, 12 Jul 2016 21:51:18

Post Brexit: Why The UK Is No Longer A Place I Want To Do Business

I am British. I also hold a directorship at six UK limited companies. And in August, I was about to become director of a seventh. But those plans are now on ice, thanks to Brexit referendum result.
My Say, Contributor / Forbes   |   Tue, 12 Jul 2016 19:28:00

Criticism of Bank over Brexit should end unless impropriety is proved

Mark Carney may have overreacted in squabble with Jacob Rees-Mogg about referendum but he deserves sympathy By the end of the Treasury select committee's session, Mark Carney looked as if he could happily punch his chief tormentor, the Tory MP Jacob Rees-Mogg. It was the umpteenth time Carney had been ...
Nils Pratley / Guardian   |   Tue, 12 Jul 2016 18:50:54

Op-Ed Contributor: Brexit and Irish Unity

England voted to leave the E.U., but Northern Ireland didn’t.
GERRY ADAMS / NY Times   |   Tue, 12 Jul 2016 17:48:06

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

Brexit News Archive: 19 Jul 2016     |     enquire