Brexit News Archive: 27 Jul 2016

Is the consolidation over?

Mid-week market update: After the stock market rally off the panic Brexit bottom that took SPX to new all-time highs, the market has been in a tight trading range for the last 10 trading days.As the chart below shows, the 5-day RSI, which is a useful short-term trading indicator,flashed a ...
Humble Student of the Markets   |   Wed, 27 Jul 2016 21:39:00

Is the world's 'Long Peace' over?

The scent of chaos hangs heavy in the air. Donald Trump evokes it in Cleveland. Islamic State sows it in Nice, Brussels, Paris, Orlando. Britain is immersed in it after Brexit, while the EU struggles to prevent its onset amid mounting crises of migration and political legitimacy. Ukraine and Syria ...
CNN   |   Wed, 27 Jul 2016 20:22:52

Greenlight Capital Q2 Letter: Long Chemours (CC)

David Einhorn's hedge fund Greenlight Capital is out with its Q2 letter. They feel that the 'Brexit' won't be a significant economic event by itself.Turning to specific stocks, Greenlight outlines its thesis on Chemours (CC), a recent spin-off from DuPont (DD). They note, "CC should benefit from the continued recovery ...
Market Folly   |   Wed, 27 Jul 2016 18:38:23

Leon Cooperman published an epic 48-page note to investors explaining why everything is fine

Leon Cooperman's Omega Advisors released a 48-page investment outlook last week. And for all the fiddling over post-Brexit markets and the risks of a Chinese currency devaluation, Omega doesn't think there's much to worry about, according to the note. The bulk of Omega's assets are invested in US equities. As ...
Business Insider   |   Wed, 27 Jul 2016 18:27:15

SABMiller puts AB InBev integration on hold to consider improved offer

AB InBev had upped offer for London-based brewer from £44 to £45 a share in light of pound's post-Brexit decline London-based brewer SABMiller has paused integration planning with Budweiser owner Anheuser-Busch InBev while it reviews its US suitor's improved takeover offer. AB InBev, the world's largest brewing company, on Tuesday ...
Julia Kollewe / Guardian   |   Wed, 27 Jul 2016 18:24:00

UK Cautiously Optimistic New Government May Be Good for Renewables

Amid the upheaval of Brexit lies cautious optimism that Theresa May's new government may hold better times for the UK renewable energy industry. Gone is the hawkish chancellor George Osborne - determinedly pro nuclear and fracking - while former energy and climate change secretary Amber Rudd, whose policy lurches over ...
REN   |   Wed, 27 Jul 2016 18:07:00

In Latest Political "Coup", Catalan Parliament Votes To Secede From Spain

In the aftermath of last month's Brexit vote, there was an outpouring of concern in Europe that the British decision would embolden similar separatist movements across the continent. Earlier Wednesday, this is precisely what happened when Catalan nationalists voted to approve a plan to secede from Spain, defying the nation's ...
Zero Hedge   |   Wed, 27 Jul 2016 17:17:12

UK shares rise as a session of superlatives grips the City

London blue-chip shares closed Wednesday at a more than one-year high, AIM paper had its best level in over two years, and mid-caps briefly beat pre-Brexit levels. The session of superlatives came as stocks posted solid results, GlaxoSmithKline (LON:GSK) announced investment in the UK and growth data was strong. Glaxo ...
Proactive Investors   |   Wed, 27 Jul 2016 17:08:00

Heckuva Job

The thing is how much the UK press is largely ignoring the party that actually created Brexit, and which happens to be in power, in favor of focusing on blaming the leader of the party that has no power and focusing on the infighting in that party.In 5 years everyone ...
Eschaton   |   Wed, 27 Jul 2016 15:30:00

5 Multinational Stocks With Stable Cash Flow

5 Multinational Stocks With Stable Cash Flow Richard Nield of Invesco International Growth is exploiting Brexit to snatch up oversold firms with good earnings.5 Multinational Stocks With Stable Cash Flow Richard Nield of Invesco International Growth is exploiting Brexit to snatch up oversold firms with good earnings.
Barrons   |   Wed, 27 Jul 2016 15:11:50

AB InBev's takeover of SABMiller remains under threat

AB InBev's planned £50bn takeover of rival brewer SABMiller remains under threat from the double threat of the Brexit vote and a UK court ruling.
BBC   |   Wed, 27 Jul 2016 14:11:35

Independent: Home Affairs Committee: "UK must prepare for immigration surge after Brexit"

Insulting your intelligence they claim the surge is hypothetical, it is happening right now and possibly explains why French border control has been taken unawares. I would not be surprised if net migration does no hit a million people this year, as folk front-run border controls. Housing shortages could be ...
libertas / House Price Crash   |   Wed, 27 Jul 2016 13:54:27

Who is Michel Barnier: The Frenchman in charge of the EU's Brexit negotiations

Laura Hughes / Telegraph   |   Wed, 27 Jul 2016 13:32:24

Theresa May has Brexit talks with Italy's Matteo Renzi

Theresa May has held talks with her Italian counterpart Matteo Renzi on the UK's exit from the EU and the challenge posed by terrorism and mass migration.
BBC   |   Wed, 27 Jul 2016 13:29:10

Japan's Economy Doesn't Need Helicopter Money: It Needs Less Debt

Pondering the state of the global economy can elicit emotions. The volatility of global markets - equities, bonds, commodities, currencies, etc. - are challenging enough without consideration of Brexit,... The post Japan's Economy Doesn't Need Helicopter Money: It Needs Less Debt appeared first on See It Market .
Michael Lebowitz / See It Market   |   Wed, 27 Jul 2016 13:27:49

May says Italians' rights guaranteed if Rome reciprocates (2)

Rome, July 27 - New British Prime Minister Theresa May said Wednesday that the rights of Italians living in post-Brexit Britain will be guaranteed only if Italy does the same for Britons living here. "I can guarantee the rights of the Italians who live in Britain will not be touched, ...
Gazzetta Del Sud   |   Wed, 27 Jul 2016 13:19:00

Brexit is hitting the economy hard - negative interest rates could be next

The vote to leave the EU has been a nasty negative shock to the UK economy that is going to lower living standards and cause much pain and suffering Since the leave vote in the EU referendum, the bad economic news has continued to roll in. A survey by the ...
David Blanchflower / Guardian   |   Wed, 27 Jul 2016 13:17:14

EIU: Commodities Forecasts Till 2020

The Economist Intelligence Unit have produced their first global forecast since the Brexit vote. Please find below, their forecasts for commodities until 2020. EIU Report:Oil prices have fallen back slightly in the wake of the Brexit voteThe rally in oil prices, which saw dated Brent... Please click on the post ...
EconMatters Global   |   Wed, 27 Jul 2016 13:00:00

Cello boss Mark Scott says health business is in "exactly the right place"

Stocktube caught up with Cello Group plc (LON:CLL) after its interim trading update dismissed any noticeable Brexit impact and promised strong full-year results in line with expectations. "The full year we believe will be a good strong year for Cello Health, as it has been for a number of years, ...
Proactive Investors   |   Wed, 27 Jul 2016 12:33:00

McDonald's offers post-referendum reassurance with plans for 5,000 jobs

Government hails McDonald's pledge to accelerate growth in wake of Brexit vote by opening 250 new restaurants McDonald's plans to create more than 5,000 new jobs in the UK by the end of 2017, in a vote of confidence in the economy after the EU referendum. The jobs will be ...
Graham Ruddick / Guardian   |   Wed, 27 Jul 2016 12:31:08

Can the EU persuade the UK to change its mind on Brexit?

The Brexit vote is no more irreversible than any other election or referendum, provided the EU is willing to adopt some modest reforms How should the European Union respond to the narrow decision by voters in the United Kingdom to leave? European leaders are now focusing, rightly, on how to ...
Anatole Kaletsky / Guardian   |   Wed, 27 Jul 2016 12:23:24

CBI blames post-Brexit caution for slump in high street spending

Snapshot of retail activity by employers' organisation immediately after referendum reveals biggest fall since January 2012 The CBI has blamed a post-Brexit mood of caution among consumers for the biggest fall in high street spending in more than four years. The employers' organisation said that a snapshot of retail activity ...
Larry Elliott / Guardian   |   Wed, 27 Jul 2016 12:18:12

These 9 slides show how European tech funding is diving while M&A is booming

Boutique tech investment bank Magister Advisors has produced a quick slideshow surveying the state of European tech in the run up to the Brexit vote. The deck, which they've agreed to let us reproduce below, presents a mixed picture that will likely be troubling for anyone working at a growth ...
Oscar Williams-Grut / Business Insider   |   Wed, 27 Jul 2016 11:49:56

How to negotiate the pensions minefield in Brexit Britain

The vote to leave the EU has seen annuity rates fall sharply. But would-be retirees still have other options Margaret Lawson is relieved that she bought an annuity in April before the rates sank any further. It was an astute decision by the 66-year-old dairy farmer. Since the vote at ...
Harriet Meyer / Guardian   |   Wed, 27 Jul 2016 11:41:14

Former French EU Commissioner to become chief Brexit negotiator

Former French EU commissioner Michel Barnier has been appointed as the EU's main negotiator for the UK's exit of the bloc. He will take up his new position in October.
euronews   |   Wed, 27 Jul 2016 11:41:03

UK economy was growing before Brexit vote, retail sales fall since vote

Newly released statistics show that before the Brexit vote the UK's economy grew fairly robustly and after the vote British retailers suffered their sharpest fall in sales in four years.
euronews   |   Wed, 27 Jul 2016 11:41:02

Sterling Finds New Post-Brexit Footing

Whether the U.K.'s economic data is good or bad, the pound just doesn't seem to care. The currency has found new footing at roughly 13% below where it was before Britain voted to leave the European Union and so far it's refusing to budge. This could suggest that investors don't ...
Jon Sindreu / MoneyBeat   |   Wed, 27 Jul 2016 11:32:28

Trending: Tesla no longer sees eye-to-eye with self-driving car tech firm

The FTSE 100 index is hovering around a one-year high, which possibly puts Brexit fears into context. Then again, saying the FTSE 100 is representative of the UK economy is a bit like saying the Premiership is representative of the England football team. The gross domestic product (GDP) measurement is ...
Proactive Investors   |   Wed, 27 Jul 2016 11:18:00

Morning News: July 27, 2016

PM Abe's Plan For $265 Billion Stimulus Puts Pressure on BOJ to Ease U.K. Economy Grew Faster Than Forecast Before Brexit Vote Deutsche Bank, Facing [...]
Eddy Elfenbein   |   Wed, 27 Jul 2016 11:10:10

Another post-Brexit economic survey shows a collapse in activity - this time in retail

Britain's retail sector has taken a huge hit in the aftermath of the vote to leave the European Union, a new survey from business lobby the Confederation of British Industry (CBI) showed on Wednesday. The CBI's latest Distributive Trades Survey, which is an indicator of short-term trends in the UK ...
Will Martin / Business Insider   |   Wed, 27 Jul 2016 11:09:19

Challenger banks defy Brexit vote with booming revenues

Tim Wallace / Telegraph   |   Wed, 27 Jul 2016 11:09:11

The 6 Most Shorted Nasdaq Stocks: Intel and AMD Buck the Trend

As the Brexit fears faded and the markets headed for new all-time highs, short sellers remained focused on their favorite stocks traded on the Nasdaq. AAPL AMD BBRY CSCO FTR GRPN HBAN INTC MAR MNKD MU NVAX SIRI 247trey Smartphone Intel
24/7 Wall St.   |   Wed, 27 Jul 2016 10:45:34

The 6 Most Shorted NYSE Stocks: Sprint Back on Top

As the Brexit fears faded and the markets headed for new all-time highs, short sellers remained focused on their favorite stocks traded on the New York Stock Exchange. AA BABA BAC CHK F FCX GE JCP PBR RIG S T VALE 247trey Sprint store
24/7 Wall St.   |   Wed, 27 Jul 2016 10:40:04

Taylor Wimpey brushes off Brexit fears

Housebuilder's shares rise as it says trading since the EU referendum has been business as usual
FT   |   Wed, 27 Jul 2016 10:38:08

Leaders Need To Move Margins To Center Stage

There seems to be a tendency to forget that the world economy was under some strain even before the U.K.'s Brexit vote. Bank interest rates hovering just above zero in major economies, stubborn national deficits and the apparent refusal of so-called emerging economies to provide their promised growth have all ...
Roger Trapp, Contributor / Forbes   |   Wed, 27 Jul 2016 10:37:00

European Commission appoints France's Barnier to lead Brexit talks

European Commission head Jean-Claude Juncker on Wednesday appointed veteran French politician and former EU commissioner Michel Barnier to lead the negotiations with Britain on its exit from the bloc.
NEWS WIRES / France 24   |   Wed, 27 Jul 2016 10:31:42

U.K. retailers saw biggest fall in sales in four years after Brexit vote

British retailers suffered the sharpest fall in sales in four years following the June 23 vote to leave the European Union, the Confederation of British Industry said on Wednesday.
David Milliken / Globe and Mail   |   Wed, 27 Jul 2016 10:19:59

EU appoints former French minister who blames Britain for losing his job as head of Brexit negotiations

Steven Swinford / Telegraph   |   Wed, 27 Jul 2016 10:16:00

Big in Japan

I've been away for a couple of days and come back to find that absolutely nothing has changed. Well, I suppose bits and bobs have but in the wake of the Brexit bungee jump, most other activity looks a bit minor.
IFR   |   Wed, 27 Jul 2016 10:14:00

Juncker Appoints Hardline Britain Basher as EU Brexit Negotiator

Who is Michel Barnier, the man appointed by Juncker to be the EU's chief Brexit negotiator? An dirigiste Frenchman with a history of bashing Britain and getting into fights with UK governments. This FT article from 2011 gives a taste of what he is like: "Sir Mervyn King is not ...
WikiGuido / Guy Fawkes' blog   |   Wed, 27 Jul 2016 10:13:42

Brussels names Barnier to lead Brexit talks

Former scourge of the City to help open the door once Britain invokes Article 50
FT   |   Wed, 27 Jul 2016 10:08:01

UK turns in strong pre Brexit growth

Economy grew by 0.6 per cent driven by a strong performance from the service sector
FT   |   Wed, 27 Jul 2016 10:00:50

Jupiter weathers Brexit storm

UK fund manager reports modest inflows but strikes a cautious tone on outlook
FT   |   Wed, 27 Jul 2016 09:53:30

Brokers: Rightmove bucks post-Brexit property trend

In a market where everyone is panicking about house prices and property funds, online house-seller Rightmove PLC (LON:RMV) remained a source of tranquillity according to analysts at AJ Bell. The broker said the continuation of strong monthly revenue highlighted the resilience of its business model. Analysts said that estate agents ...
Proactive Investors   |   Wed, 27 Jul 2016 09:53:00

UK growth will slow down markedly, despite upbeat GDP figures

Policymakers will treat 0.6% growth as a historical curiosity as they work out how to make slowdown as short as possible The comment from Philip Hammond spoke volumes. Yes, the chancellor was pleased that UK growth in the quarter leading up to the Brexit referendum had been stronger at 0.6% ...
Larry Elliott Economics editor / Guardian   |   Wed, 27 Jul 2016 09:47:19

UK Pre-Brexit Economy Had Accelerating Growth At 0.6% For The Quarter

The major impact it is said that Brexit will have on the British economy is as a result of uncertainty. This could well be true of course, no less a sage than Keynes himself said that economies are at times driven by those "animal spirits". And of course now that ...
Tim Worstall, Contributor / Forbes   |   Wed, 27 Jul 2016 09:43:00

Everbody's Investing in Post-Brexit Britain

Three huge businesses have announced further investment and mergers in the space of 24 hours - contrary to what their officials claimed prior to the referendum vote. Global pharmaceutical company GlaxoSmithKline has announced £275 million of fresh investment, London City Airport is getting a £344 million expansion, and the Deutsche ...
guidobard / Guy Fawkes' blog   |   Wed, 27 Jul 2016 09:21:42

U.K. GDP growth accelerated before Brexit vote

Seeking Alpha / Seeking Alpha   |   Wed, 27 Jul 2016 09:18:04

EU appoints chief negotiator for Brexit talks

EU Commission President Juncker has appointed Michel Barnier as chief negotiator in charge of the Brexit talks. Mr Barnier is a former vice-president of the European Commission and former French minister. He will be advised by a group of directors-general dealing with the issues relevant to the negotiations. "I am ...
Times of Malta   |   Wed, 27 Jul 2016 09:04:00

EU's Juncker: Barnier named as head of Brexit discussions

As reported in the press release published by the European Commission (EC) Wednesday, President Juncker appoints Michel Barnier as Chief Negotiator in
Dhwani Mehta / FX Street   |   Wed, 27 Jul 2016 09:03:47

UK economy grew by 0.6% before Brexit vote

Chancellor Philip Hammond said that the UK enters negotiations about leaving the EU 'from a position of economic strength' Britain's economy was growing faster than expected in the runup to the EU referendum, as it posted growth of 0.6% in the second quarter of the year, boosted by a strong ...
Angela Monaghan / Guardian   |   Wed, 27 Jul 2016 09:02:34

Anti-corruption after Brexit: What is left of David Cameron's legacy?

David Cameron's government frequently emphasised the need to tackle corruption, both within the UK and abroad. Daniel Hough assesses how this picture is likely to change following Britain's decision to leave the EU and the appointment of Theresa May as Prime Minister. He writes that with Brexit posing a number ...
Blog Admin / British Politics and Policy at LSE   |   Wed, 27 Jul 2016 09:00:14

Taylor Wimpey says it's business as usual after Brexit vote

Housebuilder's shares rise after confident statement that trading was normal for this time of the year Taylor Wimpey has shrugged off Britain's decision to leave the EU, saying that one month after the vote trading was normal for this time of year. The housebuilder said on Wednesday that it was ...
Angela Monaghan / Guardian   |   Wed, 27 Jul 2016 08:49:06

FTSE moves higher but Capita drops as it warns on Brexit effect

Outsourcing group reports uncertainty and contract delays after EU vote Leading shares are in positive territory ahead of the US Federal Reserve's latest interest rate decision and following reports of a major boost to the Japanese economy by the country's government. Stronger than expected UK GDP growth of 0.6% in ...
Nick Fletcher / Guardian   |   Wed, 27 Jul 2016 08:45:54

UK growth booms in run-up to Brexit vote as economy expands by 0.6pc

Szu Ping Chan / Telegraph   |   Wed, 27 Jul 2016 08:37:07

Glaxo to invest £275M in U.K. despite Brexit

Seeking Alpha / Seeking Alpha   |   Wed, 27 Jul 2016 08:36:01

UK GDP for Q2 comes in at 0.6% on quarter, stronger than expected

The U.K. economy grew by 0.6 percent in the second-quarter of the year, quarter-on-quarter, according to the first official estimate out since the country's Brexit vote stunned global markets.
CNBC   |   Wed, 27 Jul 2016 08:30:00

Metropolitan myths that led to Brexit

The Eurosceptic myths that fuelled hostility to the EU are obvious enough. We were told that the NHS was being destroyed by immigration, when more than a third of UK-based doctors qualified overseas. We were told that the EU is a fat bureaucracy, when it employs about as many people ...
Tim Harford / Tim Harford   |   Wed, 27 Jul 2016 07:44:20

Priorities for the new Department for International Trade post-Brexit

With the remaking of the government, the Prime Minister Theresa May has made it clear that international trade (be it with the EU or the rest of the world) will be a key priority of her government. But with so many tasks on the table, which should the UK prioritise? ...
Raoul Ruparel / Open Europe   |   Wed, 27 Jul 2016 07:41:01

ITV to cut costs as Brexit 'uncertainty' threatens ad revenue

Christopher Williams / Telegraph   |   Wed, 27 Jul 2016 07:36:39

One of Britain's biggest house builders says the property market is 'encouraging' after Brexit

Taylor Wimpey, one of the UK's biggest housebuilders, is striking a surprisingly upbeat tone in its half year results and is so far shrugging off Britain's vote to leave the European Union with ease. In an update released on Wednesday, the FTSE 100 company says that despite the vote to ...
Will Martin / Business Insider   |   Wed, 27 Jul 2016 07:26:18

GSK says Britain still an attractive place to invest

GlaxoSmithKline is pumping more money into its plants at Barnard Castle in County Durham, Montrose in Scotland, and Ware in Hertfordshire GlaxoSmithKline is to invest £275m at three of its UK factories, insisting the country is still an attractive place to invest following the Brexit vote. In a sign of ...
Angela Monaghan / Guardian   |   Wed, 27 Jul 2016 07:20:50

ITV wants to slash costs by £25 million to ward off Brexit shockwaves

ITV plans to cut costs by £25 million ($32.8 million) by 2017 to protect itself from the economic shockwaves of Brexit that have flattened the advertising market. The UK commercial broadcaster's earnings for the first six months of 2016 showed that its external revenues hit £1.5 billion ($1.9 billion), which ...
Jake Kanter / Business Insider   |   Wed, 27 Jul 2016 07:20:01

A drugs giant is giving post-Brexit Britain a £275 million vote of confidence

Pharmaceuticals giant GlaxoSmithKline (GSK) is investing £275 million into its drug manufacturing network across Britain, a major vote of confidence in British industry in the post-Brexit era. FTSE 100-listed GSK announced on Wednesday that it would invest the sum across three sites in Durham, Hertfordshire, and Scotland. The investment will ...
Oscar Williams-Grut / Business Insider   |   Wed, 27 Jul 2016 07:17:49

FT Opening Quote: GSK signals post-Brexit confidence

GSK announces UK investment, Taylor Wimpey shrugs off Brexit concerns and Arm Holdings revenues are up. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: GSK signals post-Brexit confidence
Siona Jenkins / FT Alphaville   |   Wed, 27 Jul 2016 07:09:21

Japan gives markets a poke via bumper stimulus hopes

FTSE 100 called to open +15pts at 6740, with rising lows since Jul 6 holding firm through 6705. Another test of 6755 resistance could see 6800 revisited quickly to make fresh 12-month highs. This would maintain the impressive bullish post-Brexit rebound. Bears are keeping watch for any hints of weakness ...
Proactive Investors   |   Wed, 27 Jul 2016 07:07:00

UK GDP figures show how economy was growing before Brexit vote - business live

New growth figures will reveal if Britain's economy was in good health before the EU referendum 7.52am BST Good morning. Britain's economy is centre-stage today, as we await the official UK GDP figures for the second quarter of this year. "It will tell us if the referendum gave the UK ...
Graeme Wearden / Guardian   |   Wed, 27 Jul 2016 07:06:36

ITV cuts costs as 'Brexit' hits advertising

Broadcaster ITV PLC (LON:ITV) has announced £25mln of cost cuts as jitters surrounding the UK's vote to leave the EU hit advertising revenue. ITV said it was targeting a £25mln reduction in overheads in 2017 "against a backdrop of wider economic uncertainty following the EU referendum". Net advertising revenue in ...
Proactive Investors   |   Wed, 27 Jul 2016 07:00:00

ITV profits rise 9% as production arm thrives

Broadcaster boosted by 31% revenue rise at at ITV Studios but seeks to cut costs amid ad slowdown surrounding Brexit ITV has increased its pre-tax profits for the first six months of the year by 9% to £425m as growth at its production arm offset stalling TV ad revenues. However, ...
Jasper Jackson / Guardian   |   Wed, 27 Jul 2016 06:59:55

UK stocks will labour under Brexit shadow

The wide range of Brexit outcomes suggests political uncertainty will cast a shadow on UK stocks
FT   |   Wed, 27 Jul 2016 06:58:25

Einhorn scores on Brexit, but UK is 'simply not big enough' to hit global trade

At the end of a lackluster second quarter, David Einhorn's $9 billion stock fund Greenlight Capital saw major gains from its positions in gold and gold stocks, thanks to investor favor for the yellow metal in the turbulent aftermath of Britain's vote to exit the European Union .
Here Is The City   |   Wed, 27 Jul 2016 06:48:17

Deutsche Bank's Q2 net income plunges

Deutsche Bank announced revenue and income falls Wednesday, which could add further concerns for investors made jittery by a combination of Brexit and previous issues at the bank. CNBC discusses.
CNBC   |   Wed, 27 Jul 2016 06:43:00

Glaxo to invest £275m in Britain in boost to post-Brexit economy

Julia Bradshaw / Telegraph   |   Wed, 27 Jul 2016 06:25:15

Taylor Wimpey: Brexit yet to hit demand

Taylor Wimpey said a referendum in which Britons backed leaving the European Union has had no meaningful effect on its performance in the last month.
CNBC   |   Wed, 27 Jul 2016 06:21:00

What If Brexit Doesn't Happen?

Seeking Alpha   |   Wed, 27 Jul 2016 06:06:10

GlaxoSmithKline invests $360 million in post-Brexit UK manufacturing

LONDON (Reuters) - GlaxoSmithKline plans 275 million pounds ($361 million) of new investments at three drug manufacturing sites in Britain, signaling its confidence in the country despite last month's vote to leave the European Union. (Reporting by Ben Hirschler; Editing by David Holmes) Join the conversation about this story ...
Business Insider   |   Wed, 27 Jul 2016 06:05:15

Car group drives for post-Brexit IPO

British engineering company that reduces noise in Bentleys and Range Rovers to raise £26.6m
FT   |   Wed, 27 Jul 2016 06:01:18

GSK: UK still 'attractive' post Brexit as it invests £275m

GlaxoSmithKline is to invest £275m into its UK manufacturing sites, saying the country remains "an attractive location" despite the Brexit vote.
BBC   |   Wed, 27 Jul 2016 06:00:14

Africa will be the secret victim of Brexit

Britain's economy may bear the brunt of the fallout from the UK's decision to leave the European Union, but another region of the world - Africa - is set to be an unexpected victim. Since Britain voted to leave the EU much of the economic spotlight has understandably been trained ...
Will Martin / Business Insider   |   Wed, 27 Jul 2016 06:00:00

EU appoints Frenchman Barnier as Brexit negotiator

BRUSSELS (AP) - The European Union has appointed Frenchman Michel Barnier to lead to the negotiations on Britain's exit from the union once London decides to initiate the talks.
Associated Press   |   Wed, 27 Jul 2016 05:34:00

5 Defensive Asian REITs with Juicy Yields

5 Defensive Asian REITs with Juicy Yields Hong Kong and Singapore REITs have rallied on Brexit fears but there's still upside as U.S. rate fears recede.5 Defensive Asian REITs with Juicy Yields Hong Kong and Singapore REITs have rallied on Brexit fears but there's still upside as U.S. rate fears ...
Barrons   |   Wed, 27 Jul 2016 04:33:56

Brexit: Sturgeon and May's balancing act

It is in Scotland's interest to settle for a Norway-style deal, writes Jim Gallagher
FT   |   Wed, 27 Jul 2016 04:31:04

Three scenarios for the City after Brexit

How London copes will depend on the success of Theresa May's negotiations
FT   |   Wed, 27 Jul 2016 04:30:19

Port operators hope to avoid EU rules

Brexit negotiators face balancing act to maintain close trading links with Europe
FT   |   Wed, 27 Jul 2016 04:30:10

FTSE directors buy the Brexit dip

Directors' share dealing hits a 10-year high as bargain hunt sweeps UK boardrooms
FT   |   Wed, 27 Jul 2016 04:29:09

When terror goes viral, who prevents chaos?

The scent of chaos hangs heavy in the air. Donald Trump evokes it in Cleveland. Islamic State sows it in Nice, Brussels, Paris, Orlando. Britain is immersed in it after Brexit, while the EU struggles to prevent its onset amid mounting crises of migration and political legitimacy. Ukraine and Syria ...
CNN   |   Wed, 27 Jul 2016 03:36:41

Global central bank unity is a positive: Pain Report

Post-Brexit, central banks around the world have come up with suggestions of even more stimulus policies, says The Pain Report's Jonathan Pain.
CNBC   |   Wed, 27 Jul 2016 00:28:00

Brexit migrant 'spike' warning from MPs

There could be a spike in UK migration ahead of Britain's withdrawal from the European Union and the possible end to free movement rights, MPs warn.
BBC   |   Tue, 26 Jul 2016 23:36:58

More Questions Than Answers - UK Trade Minister Talks Brexit To Global SMEs

Described by the host company as the largest gathering of entrepreneurs anywhere in the world, the Sage Summit kicked off in Chicago this morning (July 26). Staged by UK-based accountancy and payroll software company, Sage, the conference has attracted around 15,000 SME owners and managers from Europe, the Americas, Asia ...
Trevor Clawson, Contributor / Forbes   |   Tue, 26 Jul 2016 23:11:00

Blame it on the Brexit: But is it just an excuse?

There is no shortage of companies blaming Brexit for their bad news these days - from job losses to price rises - but is this just a handy excuse?
BBC   |   Tue, 26 Jul 2016 23:05:43

UK faces 'surge' in EU migration before Brexit unless cut-off date applied, MPs warn

Telegraph   |   Tue, 26 Jul 2016 23:01:00

After Cameron: How can you mend a broken country?

In seeking a One Party Britain, David Cameron sowed the seeds not for a united nation, but a divided one. A sign that Britain's 'Left Behind' are now beginning to have their voices heard. David Cameron, Toms Norde, Valsts kanceleja, Wikimedia CommonsIn Brexit, Britain is Divided On Friday, June 24, ...
Piers Purdy / Open Democracy   |   Tue, 26 Jul 2016 23:00:01

Time for a palace revolution

Before the Brexit negotiations even start, it might be helpful to pause and have a look at Britain's current involvement with fellow member states of the eU and a few 'British' household names. Cadbury schweppes has opened factories in france and Poland (as well as in australia, south africa and ...
Revel Barker / Times of Malta   |   Tue, 26 Jul 2016 22:01:09

Savills: Brexit impact on mainstream market

Apparently "caution" is as bad as it'll get. Yawn. Let me know when we get to outright feast that price drops will never end.
sneaker / House Price Crash   |   Tue, 26 Jul 2016 22:00:00

5 Multinational Stocks With Stable Cash Flow

5 Multinational Stocks With Stable Cash Flow Richard Nield of Invesco International Growth is exploiting Brexit to snatch up oversold firms with good earnings.5 Multinational Stocks With Stable Cash Flow Richard Nield of Invesco International Growth is exploiting Brexit to snatch up oversold firms with good earnings.
Barrons   |   Tue, 26 Jul 2016 20:25:49

Randgold Returned 25% While Hedging Against Brexit

A great hedge is one that makes money while it protects you from a disaster. In April, Thomas Pound recommended Randgold Resources as a good investment as well as a hedge against many bad scenarios. Since then, we've seen a market correction caused by Brexit from which we have now ...
Ken Kam, Contributor / Forbes   |   Tue, 26 Jul 2016 20:20:00

Equity Market Highs, Bond Yields At Record Lows. Who's Right?

Equity Market Highs, Bond Yields At Record Lows. Who's Right? by Francis Gannon, The Royce Funds With the post-Brexit environment in the U.S. presenting a classic disconnect between the equity and bond markets, Co-CIO Francis Gannon looks at what might [...]
Value Walk   |   Tue, 26 Jul 2016 19:45:40

This Psychological Quirk Shows You How To Profit From Brexit Uncertainty

This is for the really ambitious among you. I have written before about dealing with uncertainty and leading people through it, but would you like to do more than that, and actually profit from it? The key is in a psychological quirk in our attitude to risk. It's deceptively simple, ...
Alastair Dryburgh, Contributor / Forbes   |   Tue, 26 Jul 2016 19:14:00

Fed to Leave Rates Unchanged in July

U.S. Central Bank Expected to Raise Rates Once in 2016 The U.S. Federal Reserve was at one time forecasting up to 4 rate hikes in 2016. Macroeconomic headwinds have pushed that number down and after the Brexit impact there were rumblings of a rate cut being more likely. A month ...
Alfonso Esparza / OANDA   |   Tue, 26 Jul 2016 19:01:47

COLUMN-Trump, the risk even central banks can't backstop: James Saft

July 26- If Brexit didn't scare financial markets confident in the support of central banks, maybe the prospect of President Donald Trump will. That Brexit, which will slow global growth and imperil the European Union, led to a rally in riskier assets is testament to investors' mastery of the lesson ...
CNBC   |   Tue, 26 Jul 2016 19:00:00

It's not too late for SABMiller to back out of its mega-merger

The fall of sterling after Brexit and sales in Africa mean that a bad deal for shareholders last autumn looks even worse now If you assumed SABMiller had already been consumed into Anheuser-Busch InBev's monopolistic megabrew mash-up, think again. It was only the cut-and-thrust of the bidding chapter that closed ...
Nils Pratley / Guardian   |   Tue, 26 Jul 2016 18:48:13

Pain preceding Brexit

It may take a while before the UK officially cuts ties with the EU, but it could see economic pain in the interim. CNBC's Steve Liesman reports the results of the latest CNBC Fed Survey.
Steve Liesman   |   Tue, 26 Jul 2016 18:39:00

AB InBev bid for SABMiller loses its fizz

Shareholder objections to the deal structure amid post-Brexit currency falls could sink Megabrew tie-up
FT   |   Tue, 26 Jul 2016 18:38:13

Brexit's Impact On Fintech Looks Like A Long Time Coming

London has a depth in financial services that surpass any city in continental Europe, and a lead role in global finance.
Tom Groenfeldt, Contributor / Forbes   |   Tue, 26 Jul 2016 17:42:00

Please let's not take the monetary sledgehammer to the nut of Britain's post Brexit economy

Jeremy Warner / Telegraph   |   Tue, 26 Jul 2016 17:32:09

Time is not on the Bank of England's side

Brexit's impact on the UK economy is about to be road-tested in a succession of data
FT   |   Tue, 26 Jul 2016 17:16:14

Do Declining Restaurant Sales Signal An Upcoming Recession?

A recession is coming for the restaurant industry according to Stifel. MS: Brexit Could Spark Global Recession In a research note sent out to clients today, a copy of which has been reviewed by ValueWalk, analysts at Stifel lay out [...]
Value Walk   |   Tue, 26 Jul 2016 17:15:40

Ukip needs to reshape or it will die

The party that brought us Brexit is locked in a battle to redefine itself, writes Sebastian Payne
FT   |   Tue, 26 Jul 2016 17:05:13

Bank of England policymaker backs stimulus as UK economy worsens - as it happened

US service sector growth slows Weale: Economy appears to have weakened since Brexit vote Businesses fear negative interest rates Pound slides as traders anticipate rate cut BT shares jump after Ofcom decides against break-up 5.48pm BST Ahead of some key central bank meetings this week, notably the US Federal Reserve ...
until 2pm / Guardian   |   Tue, 26 Jul 2016 16:48:34

David Einhorn is back on his jelly donut kick

David Einhorn, founder of hedge fund Greenlight Capital, believes that Brexit means more monetary easing is on the way. And he explained this concept the same way he's been doing it for years - by talking about jelly donuts. "Brexit by itself will not be a significant economic event," Einhorn ...
Money Game   |   Tue, 26 Jul 2016 16:42:21

Einhorn wins on Brexit but downplays it

At the end of a lackluster second quarter, David Einhorn's $9 billion stock fund saw major gains from its positions in gold and gold stocks.
CNBC   |   Tue, 26 Jul 2016 16:32:00

WSJ City's Brexit Briefing: The Brexit Effect So Far, Fox Woos America, Tech Sector Gets a Boost

Good afternoon from London. Here's essential reading for the City on today's Brexit developments from WSJ City. 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 ...
Phillipa Leighton-Jones / MoneyBeat   |   Tue, 26 Jul 2016 16:19:24

U.K. and Ireland's Prime Ministers Discuss Post-Brexit Relationship

Britain's Prime Minister Theresa May said the U.K. wants to maintain a close economic relationship and preserve light-touch border arrangements with the Republic of Ireland.
WSJ   |   Tue, 26 Jul 2016 16:07:00

Who Funded Brexit?

Meet Arron Banks, the previously little-known insurance entrepreneur who bankrolled Leave.EU and might be set to take over UKIP.
Damir / The American Interest   |   Tue, 26 Jul 2016 16:04:19

Does Brexit really matter? Yes, as the end of the UK

The Tory party has been in bed with the City for a century. It is not beyond belief to suppose that Cameron's goal was always Leave while apparently leading Remain. The 'Gherkin' and Canary Wharf at sunrise in London. Stefan Rousseau / Press Association. All rights reserved.The secession of Britain ...
Keith Hart / Open Democracy   |   Tue, 26 Jul 2016 15:54:38

Trump, the risk even central banks can't backstop

If Brexit didn't scare financial markets confident in the support of central banks, maybe the prospect of President Donald Trump will.
IFR   |   Tue, 26 Jul 2016 15:43:00

Brexit makes everything more difficult says Padoan (2)

Rome, July 26 - The Brexit makes everything more difficult, including public finances, Economy Minister Pier Carlo Padoan told a conference on civil service financing Tuesday. "When events such as the Brexit take place at the global level the macroeconomic picture (becomes) difficult - no use denyin
Gazzetta Del Sud   |   Tue, 26 Jul 2016 15:41:00

UK Finance Minister Looks To Rewrite Budget Rules To Increase Borrowing Post-Brexit

Reuters.
Reuters. / World Affairs   |   Tue, 26 Jul 2016 15:40:10

Check Point Falls 5% as Q3 View Misses; No Brexit Impact Thus Far

Shares of security technology vendor Check Point Software Technology (CHKP) are down $4.14, or 5%, at $79.50, after the company this morning reported Q2 revenue and profit that slightly topped analysts' expectations, but forecast this quarter's results below consensus. It said the U.K.'s vote to leave Europe is not so ...
Tiernan Ray / Eric Savitz   |   Tue, 26 Jul 2016 15:39:11

UK supermarket sales fall 2.4% in poor July weather

Big retailers saw worst sales performance for two years in month after Brexit vote but analysts blame bad weather Supermarkets endured their worst sales performance in at least two years in the month following the Brexit vote but analysts are blaming poor weather rather than fears about life outside the ...
Sarah Butler / Guardian   |   Tue, 26 Jul 2016 15:35:18

Global economy still firming

The view here that an upswing in global economic growth is under way and will not be derailed by "Brexit" received support from last week's "flash" purchasing managers' surveys for July, showing stronger results in the US and Japan and little change in the Eurozone, despite the expected UK slump. ...
Money Moves Markets   |   Tue, 26 Jul 2016 15:06:42

Brexit Adds to Risks for Britain's Former Phone Monopoly

BT Group's status as Europe's strongest big telecom group is under threat-whatever settlement it agrees with the U.K. regulator.
WSJ   |   Tue, 26 Jul 2016 14:59:11

Why Investors Are Too Wary of Some Brexit Blows

Virgin Money may be too optimistic in its outlook, but investor pessimism is also overdone.
WSJ   |   Tue, 26 Jul 2016 14:40:19

Be Contrarian And Invest In British Land Post-Brexit

Seeking Alpha   |   Tue, 26 Jul 2016 14:36:36

Two 10%+ Yields in Danger, And 3 Safer Income Buys

The market keeps reaching record highs and many analysts worry equities are overvalued in a post-Brexit, stagnant global economy. But that isn't stopping irrational exuberance from causing overvalued stocks to climb ever higher. We are at risk of rapidly declining stock prices when the market comes to its senses. And ...
Brett Owens, Contributor / Forbes   |   Tue, 26 Jul 2016 14:33:00

U.S. Consumer Confidence Virtually Unchanged for July

A gauge of U.S. consumer confidence edged lower, but was relatively unchanged in July, a sign American households are shrugging off global economic uncertainty in the wake of the Brexit vote.
WSJ   |   Tue, 26 Jul 2016 14:16:52

London to Trump: Brexit is Protrade, Thank You Very Much

The U.K.'s new trade minister says Britain would 'very much welcome hearing more free-trade voices' in the U.S.
WSJ Economics   |   Tue, 26 Jul 2016 14:15:31

JLT shrugs off Brexit insurance worries

Vote Leave backing chief executive Dominic Burke says broker well placed to cope with EU-exit fallout
FT   |   Tue, 26 Jul 2016 14:09:08

Brexit Watch

The UK voted to leave the European Union in a referendum on 23 June. Here's your daily summer briefing of all the latest Brexit-related news.
BBC   |   Tue, 26 Jul 2016 14:08:13

Parliament office sees slower growth after Brexit

Rome, July 26 - Italy's parliamentary budget office said on Tuesday that the official government forecast for the economy to grow by 1.2% in 2016 did not look achievable following Britain's vote to leave the European Union. The independent body, which is responsible for analysing official government
Gazzetta Del Sud   |   Tue, 26 Jul 2016 13:49:00

Theresa May and Enda Kenny hold talks at Downing Street

Prime Minister Theresa May holds talks with Taoiseach Enda Kenny in London, focussing on Brexit.
BBC   |   Tue, 26 Jul 2016 12:48:04

RPT-COLUMN-Trump, the risk even central banks can't backstop: James Saft

July 26 (Reuters) - If Brexit didn't scare financial markets confident in the support of central banks, maybe the prospect of President Donald Trump will.
Reuters   |   Tue, 26 Jul 2016 12:00:01

5 Multinational Stocks With Stable Cash Flow

Richard Nield of Invesco International Growth is exploiting Brexit to snatch up oversold firms with good earnings.
Barrons   |   Tue, 26 Jul 2016 11:23:48

Earls Court land value cut by 14%

London property group reduces value of estate by £200m due to 'weakened sentiment' after Brexit vote
FT   |   Tue, 26 Jul 2016 11:04:21

Business borrowing falls for first time this year

Uncertainty over Brexit and interest rates have seen company credit requests slump by value of more than £500m Business borrowing dropped for the first time in 2016 last month, as companies delayed investment decisions because of uncertainty created by the EU referendum. Mortgage borrowing also fell between May and June, ...
Angela Monaghan / Guardian   |   Tue, 26 Jul 2016 10:24:14

G-20 Fears Brexit Blowback if Breaking Up Is Hard to Do

Agence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesG-20 Finance Ministers Fear Brexit Blowback if Breaking Up Is Hard to Do Global finance chiefs meeting in China urged U.K. and ...
WSJ   |   Sat, 23 Jul 2016 22:54:52

What to watch for at the ECB meeting

Draghi set to wrestle with Brexit economic fallout, QE headaches and problems with Italian banks
FT   |   Thu, 21 Jul 2016 04:32:10

IMF cuts UK growth forecasts following Brexit vote

Predictions revised down from April as IMF says EU referendum result has 'thrown a spanner in the works' of global recovery The International Monetary Fund has slashed its forecast for UK growth next year after warning that the decision to leave the EU had damaged the British economy's short-term prospects ...
Larry Elliott Economics editor / Guardian   |   Tue, 19 Jul 2016 23:10:15

Brexit News Archive: 27 Jul 2016     |     enquire