Dog days could bite market in August
The Brexit bounce back that lifted stocks in July is unlikely to carry into August, and markets will be tested early on.
CNBC | Fri, 29 Jul 2016 22:00:00
Carlyle Promotes Sandra Horbach To Co-Lead U.S. Buyout Team
Carlyle Promotes Sandra Horbach To Co-Lead U.S. Buyout Team by Adam Putz, PitchBook This week, Hillary Clinton became the first woman in American history to serve as presidential nominee of a major political party. In the U.K., Brexit resulted in [...]
Value Walk | Fri, 29 Jul 2016 21:24:45
Michel Barnier: Fighting Brussels' corner
Brexit negotiator defies the UK view of him as a panto villain, write Alex Barker and Jim Brunsden
FT | Fri, 29 Jul 2016 18:47:47
Week Ahead Central Bank Stimulus in Focus
The BoJ disappointed with no QE change and now the market awaits the BoE's monetary policy response to Brexit The U.S. Federal Reserve and the Bank of Japan (BOJ) showed the two sides of central bank action this week. The Fed's Federal Open Market Committee (FOMC) ended with no change ...
OANDA | Fri, 29 Jul 2016 18:21:33
Why a second independence referendum is not inevitable in Scotland
In the complexity of post-Brexit Britain, a second independence referendum in Scotland isn't the dead-cert some think. image: Yes Scotland The consensus is that a second independence referendum is now inevitable. The SNP assertion in its 2016 manifesto of the Scottish parliament's right to hold a referendum "if there is ...
Open Democracy | Fri, 29 Jul 2016 17:37:37
Is Brexit Really So Bad For European Stocks?
The immediate aftermath of Britain's vote to leave the EU was severe, but the long term effects may be muted, says Edward Dempsey, chief investment officer at Pension Partners. He talks with Forbes contributor Simon Constable.
Simon Constable, Contributor / Forbes | Fri, 29 Jul 2016 17:03:00
Is Brexit Bad News for European Stocks?
The immediate aftermath of Britain's vote to leave the EU was severe, but the long term effects may be muted, says Edward Dempsey, chief investment officer at Pension Partners. He talks with Forbes contributor Simon Constable.
Simon Constable, Contributor / Forbes | Fri, 29 Jul 2016 16:13:01
WSJ City's Brexit Briefing: Challenging London's Derivatives Crown, No Relief on Regulation, How the Stress Tests Work
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 ...
Darren Lazarus / MoneyBeat | Fri, 29 Jul 2016 16:06:46
JPMorgan changes tune on Dow
JPMorgan upgraded Dow Chemical to outperform, as global demand for the chemical company looked better than expected post-Brexit.
CNBC | Fri, 29 Jul 2016 15:59:00
Oil just made a huge move, and nobody noticed
The markets have been preoccupied with a flurry of political headlines over the past few months such as Brexit and the US presidential election. But in the background of all this, there has been a stealth slump in crude oil prices. Both front-month WTI crude and Brent crude prices have ...
Elena Holodny / Money Game | Fri, 29 Jul 2016 15:32:00
In Derivatives Trading, London Is King
Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsJason Alden/Bloomberg NewsIn Derivatives Trading, London Is King The Brexit vote has raised questions about London's position as the world's financial-services capital. A close look ...
WSJ | Fri, 29 Jul 2016 15:22:11
Bank of England prepares to tackle Brexit hit
By William Schomberg LONDON (Reuters) - The Bank of England (BoE) must decide over the coming week how much trouble Britain's economy is in following the shock vote to leave the European Union, and how much firepower it can throw at the problem. After the Bank of Japan (BoJ) on ...
Business Insider | Fri, 29 Jul 2016 15:02:50
GLOBAL ECONOMY WEEKAHEAD-Bank of England prepares to tackle Brexit hit
LONDON, July 29 (Reuters) - The Bank of England (BoE) must decide over the coming week how much trouble Britain's economy is in following the shock vote to leave the European Union, and how much...
Reuters | Fri, 29 Jul 2016 15:01:34
INVESTMENT FOCUS-Pound calms before first UK/US rate flip in 10 years
LONDON, July 28- Britain's battered pound looks to be holding its own a month after the shock vote for a Brexit, even as the Bank of England prepares to take UK interest rates below their U.S. equivalents for the first time in a decade. Sterling sank by 14 percent within ...
CNBC | Fri, 29 Jul 2016 14:56:00
Oil's in a bear market
The markets have been preoccupied with a flurry of political headlines over the past few months such as Brexit and the US presidential election. But in the background of all this, there has been a stealth slump in crude oil prices. Both front-month WTI crude and Brent crude prices have ...
Elena Holodny / Business Insider | Fri, 29 Jul 2016 14:32:00
Iran's global banking problems deepen with rise of Trump, Brexit
By Jonathan Saul and Parisa Hafezi LONDON/ANKARA (Reuters) - Britain's vote to leave the European Union and the rise of U.S. presidential nominee Donald Trump have paralyzed efforts by Western governments to encourage already highly reluctant international banks to do business with Iran. Uncertainty is frustrating Tehran's push for foreign ...
Business Insider | Fri, 29 Jul 2016 14:28:52
U.S. Consumer Sentiment Falls in July
A gauge of U.S. consumer sentiment dropped in July, as Americans continued to cite concerns over the economic fallout from the United Kingdom's Brexit vote.
WSJ | Fri, 29 Jul 2016 14:27:08
Hinkley Point: Another Brexit silver lining
For those looking for some silver lining from the Brexit outcome, there is the good news of the abolition of the Department for Energy and Climate Change and its reabsorption into the Business Department, followed by the announcement of a review of the proposed new nuclear power station at Hinkley ...
robert / John Kay | Fri, 29 Jul 2016 14:24:11
Little Sign of Post-Brexit Recovery at IAG
U.K. flag carrier British Airways is probably a less useful bellwether for recovery than budget airlines Ryanair and easyJet.
WSJ | Fri, 29 Jul 2016 14:16:35
INSIGHT-Iran's global banking problems deepen with rise of Trump, Brexit
LONDON/ANKARA, July 29 (Reuters) - Britain's vote to leave the European Union and the rise of U.S. presidential nominee Donald Trump have paralysed efforts by Western governments to encourage already...
Reuters | Fri, 29 Jul 2016 14:11:56
Brussels Briefing: IMF's Athens Hangover
By Arthur Beesley in London Europe is transfixed these days by Brexit, terrorism, migrants and the populist advance. But the riddle of Greece remains. A damning new report by the IMF's in-house inspectorate finds fault on several grounds with the fund's approach to the country. This is backwards-looking exercise, which ...
Jim Brunsden / FT Brussels Blog | Fri, 29 Jul 2016 14:05:14
UK money trends strong pre-Brexit vote
There is no negative message for UK economic prospects in June monetary data. Narrow money, broad money and bank lending all grew solidly on the month, maintaining recent upbeat trends. The suggestion is that the economy was on course to expand strongly before the Brexit vote shock, offering hope that ...
Simon Ward / Money Moves Markets | Fri, 29 Jul 2016 13:53:30
Hedge Funds Turn Bullish On European Stocks
According to Morgan Stanley's July 28 Hedge Fund Positioning Update, hedge funds are getting bullish on equities outside the United States as Brexit fears subside and markets rally. According to the prime brokerage report, which is based on aggregated information [...]
Rupert Hargreaves / Value Walk | Fri, 29 Jul 2016 13:50:35
Consumer confidence rose less than expected
Consumer confidence rose less than expected. The University of Michigan's final consumer sentiment index for July came in at 90.0. Economists were expecting the final index to rise slightly to 90.2 in July, according to the Bloomberg consensus. Brexit was mentioned by a record number of households with incomes in ...
Money Game | Fri, 29 Jul 2016 13:44:00
Foxtons profits down sharply as London property market cools
Estate agent's pre-tax profit fell to £10.5m in the first six months of year from £18.1m a year earlier, with Brexit uncertainty blamed Profits at Foxtons fell by 42% in the first six months of the year as uncertainty and confusion caused by the EU referendum led to a slump ...
Julia Kollewe / Guardian | Fri, 29 Jul 2016 13:43:18
"The majority of Hungarians are apathetic, indifferent, and devoid of hope." An interview with Gaspár M. Tamás
Jaroslav Fiala speaks to Gaspár M. Tamás about the brutality of capitalism, Orbán's Hungary, and the failure of the European system. Gaspar Tamas. PD. Recently, Europe has been experiencing dangerous times: the crisis of the Eurozone, terrorist attacks, the rise of the far right, Brexit, and so on. Is liberal ...
Open Democracy | Fri, 29 Jul 2016 13:17:49
Independence Day for the BBC?
In an uncertain 'Brexit Britain', we must ensure that the BBC remains a public broadcaster, as free as possible from state interference. Dominic Lipinski / PA Wire/Press Association Images. All rights reserved. Brexit is actually far worse news for those commercial rivals than it is for the apparently beleaguered Corporation. ...
Open Democracy | Fri, 29 Jul 2016 13:14:41
Foxtons warns London property downturn to last all year
Foxtons Group PLC (LON:FOXT) warned that the downturn in London's housing market could last for at least the rest of 2016. Brexit uncertainty had hit London property sales hard, sloughing 42% off the estate agent's half-yearly profits. Pre-tax profit fell to £10.5mln in the first six months, from £18.1mln the ...
Proactive Investors | Fri, 29 Jul 2016 12:49:00
Shock in eastern Europe
Some states fear that Brexit may leave much of the ex-communist half of Europe in the cold
FT | Fri, 29 Jul 2016 12:21:13
ASEAN and the Brexit shock
Author: Ponciano Intal Jr., ERIA The European Union and ASEAN have very different models of economic integration. Yet ASEAN and its members worry about what Britain's exit from the European Union may mean for the future of ASEAN. Brexit provides a powerful motivation to get the ASEAN Economic Community (AEC) ...
Ponciano Intal / East Asia Forum | Fri, 29 Jul 2016 12:00:45
Welsh football, Brexit and the future of British national identity
Wales' performance in the European Cup helped build a cross-racial national identity. But more must be done if everyone from Wales is to feel accepted as Welsh. Image: FA Wales, fair use. The achievements of the Welsh national football team in the Euro 2016 tournament in France this summer have ...
Geraint Rhys / Open Democracy | Fri, 29 Jul 2016 12:00:00
A bright future awaits Britain post-Brexit in the Commonwealth markets
Lord Howell / Telegraph | Fri, 29 Jul 2016 11:28:21
Euro zone economic growth slows in quarter before Brexit
By Francesco Guarascio BRUSSELS (Reuters) - Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth. Gross domestic product (GDP) in ...
Business Insider | Fri, 29 Jul 2016 11:27:02
UPDATE 1-Euro zone economic growth slows in quarter before Brexit
* Economists see possible further slowdown of euro zone growth
Reuters | Fri, 29 Jul 2016 11:19:34
Global funds cut share holdings to five-year lows as Brexit bites
By Claire Milhench LONDON (Reuters) - Global investors dumped equities in July and raised bond allocations after Britain's vote to leave the European Union and subsequent signs of damage to economic growth prompted a dash toward fixed income. The Reuters monthly poll of 44 fund managers and chief investment officers ...
Business Insider | Fri, 29 Jul 2016 11:06:00
World Policy On Air, Ep. 78: The West's Democratic Distemper
Lede: Much of the Western world is experiencing a right-wing resurgence, from Donald Trump's popularity in the U.S. to Brexit in the U.K. and angry Euroscepticism across the continent. On today's episode of World Policy On Air, Michael Genovese of Loyola Marymount University explores social divisions and the roots of ...
World Policy | Fri, 29 Jul 2016 10:50:11
Brexit Hits Consumer Confidence In UK - But How Long Will It Last?
As with when we looked at the Markit PMI numbers last week Brexit seems to be hitting economic confidence quite badly. And yes, we do have to take economic confidence seriously for as Keynes pointed out the future of the economy does indeed depend, in part, on those "animal spirits". ...
Tim Worstall, Contributor / Forbes | Fri, 29 Jul 2016 09:52:00
26 Countries Seeking UK Trade Deals
The above map shows all the countries in which government officials or prominent business figures have declared a desire to secure a post-Brexit trade deal with Britain. Out of the 10 largest economies in the world, just two (France and Italy) have not yet made moves for a deal. Every ...
Guy Fawkes' blog | Fri, 29 Jul 2016 09:16:59
British Airways owner IAG lowers profits forecast on Brexit and terror
IAG has scaled back expansion plans for the next six months British Airways owner IAG has reported disappointing profits and lowered its full-year forecast, blaming terror attacks, the Brexit vote and strikes for a downturn in travel. International Airlines Group, which also owns Iberia, Vueling and Aer Lingus, had forecast ...
Julia Kollewe / Guardian | Fri, 29 Jul 2016 09:12:02
Brexit: London needs special role, says Mayor
London needs to have a special role in negotiations over the U.K.'s exit from the European Union, Sadiq Khan, Mayor of London, told CNBC Friday.
CNBC | Fri, 29 Jul 2016 09:03:00
Ireland plans for 'soft border' with U.K. after Brexit
Ireland is planning a system of electronic border surveillance that it hopes will prevent it having to erect physical barriers with Northern Ireland when Britain leaves the European Union, its customs service said on Thursday. The unexpected result of the June 23 referendum in which U.K. citizens voted to leave ...
Japan Times | Fri, 29 Jul 2016 08:50:37
Foxtons estate agency profits tumble amid Brexit vote
High-profile London estate agency Foxtons has announced a 42% fall in profits, blaming uncertainty around the EU referendum for the fall.
BBC | Fri, 29 Jul 2016 08:28:38
The owner of British Airways got screwed over by Brexit
International Consolidated Airlines Group (IAG), the company which owns British Airways, is blaming Brexit for a €148 million (£124 million) foreign exchange loss in the first 6 months of 2016. The pound dropped to 31-year lows against the dollar in the immediate aftermath of the EU referendum - though not ...
Matthew Nitch Smith / Business Insider | Fri, 29 Jul 2016 08:20:08
Europe's banks facing testing times: Barclays CEO
Barclays CEO, Jes Staley, says European Banks need to get in a better position of profitability, when discussing the future of the sector post-Brexit.
CNBC | Fri, 29 Jul 2016 08:20:00
In the papers: Premier Farnell, BT, EDF
The Times Savers use freedom to raid pension pots of £6 billion: Almost 800,000 savers have cashed out more than £6 billion from their retirement pots since the Treasury introduced new pension freedoms 15 months ago, official figures reveal. Ford set to raise prices after $500 million Brexit hit: Ford ...
Proactive Investors | Fri, 29 Jul 2016 08:06:00
Market briefing: UK markets closed lower yesterday, as some disappointing corporate earnings weighed on investor sentiment
UK Market Snapshot UK markets closed lower yesterday, as some disappointing corporate earnings weighed on investor sentiment. Lloyds Banking Group lost 5.8%, after it posted a drop in its half yearly pre-tax earnings and warned that the Brexit vote would hurt its ability to boost dividend payments. Smith & Nephew ...
Proactive Investors | Fri, 29 Jul 2016 08:03:00
"A Renewed Case For Ever Closer Union Or A Federal Europe" by Yiannis Kitromilides
After the 'seismic' shock of 'Brexit' a re-appraisal is taking place in the EU concerning the future direction the remaining 27 member states could take. There are three possibilities: 'more Europe', 'less Europe' or 'business as usual'. Donald Tusk, the president of the European Council, is in no doubt as ...
Yiannis Kitromilides / Social Europe Journal | Fri, 29 Jul 2016 08:00:59
Anti-Brexit: Britain's New Class War
It took less than two hours after the Brexit referendum for someone to denounce the result. Labour MP Keith Vaz described it as heartbreaking on the BBC's "morning after" analysis program. He came to the very brink of calling for it to be overturned. But he was soon overtaken by ...
John O'Sullivan / National Review | Fri, 29 Jul 2016 08:00:54
IAG Cuts Growth Plans as Brexit, Terrorism Hurt Airlines
British Airways parent International Consolidated Airlines Group's second-quarter operating profit rose 4.7% but per-passenger revenue slumped as the Brexit vote and terrorism weighed on demand.
WSJ | Fri, 29 Jul 2016 07:51:20
British Airways owner IAG reviews investment after Brexit and strikes hit profits
Kate Palmer / Telegraph | Fri, 29 Jul 2016 07:46:34
Did the BoJ hear us?
FTSE 100 Index called to open +5pts at 6725, increasingly looking like it is turning over after a marked slowing in its Brexit bounce. Of note are falling highs since Wednesday's 12-month peak which, coupled with falling lows since mid-week, puts the index in a bearish 3-day falling channel. This ...
Proactive Investors | Fri, 29 Jul 2016 07:31:00
Foxtons profits down sharply as London property market cools
Estate agent's profit before tax fell to £10.5m in the first six months of the year, from £18.1m a year earlier Estate agent Foxtons has posted a 42% drop in half-year profits as uncertainty caused by the EU referendum led to a sharp slowdown in London property sales, and warned ...
Julia Kollewe / Guardian | Fri, 29 Jul 2016 07:23:54
FT Opening Quote: IAG hit by Brexit sterling drop
Post-Brexit sterling slump hits airline group IAG, Pearson revenues down, post-Brexit gloom at Foxtons. FT Opening Quote, with commentary by City Editor Jonathan Guthrie, is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: IAG hit by Brexit sterling drop
Siona Jenkins / FT Alphaville | Fri, 29 Jul 2016 07:16:54
FOXTONS: 'Do not expect London's property markets to show signs of recovery before the end of the year'
Upmarket, London-only estate agent Foxtons is blaming the EU referendum for a terrible start to 2016 and warning investors that the capital's property market is unlikely to improve before the end of the year. Foxtons' half-year results on Friday show a fall in revenue, earnings, margins, and profit. Here are ...
Business Insider | Fri, 29 Jul 2016 07:07:33
Barclays bank confident it can weather Brexit uncertainty
LONDON- British bank Barclays said Friday its second-quarter earnings rose 19 percent as it expressed confidence it could weather the uncertainty of the country's exit from the European Union. Barclays' core businesses include those it plans to continue operating after it sheds riskier assets and focuses on Britain. Barclays Plc ...
CNBC | Fri, 29 Jul 2016 06:43:00
Markets await eurozone GDP as Bank of Japan disappoints - business live
Eurozone growth expected to slow ahead of Brexit, while Bank of Japan stimulus measures underwhelm traders 7.37am BST Here are the forecasts for the European market open. Our European opening calls:$FTSE 6734 up 12$DAX 10336 up 61$CAC 4447 up 27$IBEX 8526 up 47$MIB 16618 up 95 7.35am BST Good morning, ...
Nick Fletcher / Guardian | Fri, 29 Jul 2016 06:40:29
UK realtor blames Brexit vote for 42% profit drop
Symbol of London's booming property market warned shortly after the June 23 vote that its earnings would fall.
CNBC | Fri, 29 Jul 2016 06:36:00
UK sees biggest fall in consumer confidence for 26 years after Brexit vote
Growing worries about the economic outlook have dented the confidence of UK households and manufacturers, according to the latest reports to suggest the Brexit vote result will slow the economy.
Here Is The City | Fri, 29 Jul 2016 06:07:10
Transaction activity in wealth management is low: UBS CEO
Sergio Ermotti, CEO of UBS, talks about the bank's latest earnings and the impact of Brexit on its business.
CNBC | Fri, 29 Jul 2016 05:08:00
Our attitude towards wealth played a crucial role in Brexit. We need a rethink | Stephen Hawking
Money was a key factor in the outcome of the EU referendum. We will now have to learn to collaborate and to share Does money matter? Does wealth make us rich any more? These might seem like odd questions for a physicist to try to answer, but Britain's referendum decision ...
Stephen Hawking / Guardian | Fri, 29 Jul 2016 05:00:27
Bank of Japan blames Brexit as it unleashes more monetary stimulus
Uncertainty caused by the UK vote and a wider global slowdown forced the bank to act, but yen rises as markets give muted response The Bank of Japan has announced a modest expansion of its monetary easing programme, blaming Britain's decision to leave the European Union as the biggest uncertainty ...
Martin Farrer and agencies / Guardian | Fri, 29 Jul 2016 04:34:36
Brexit shockwaves hit UK consumers
Shockwaves from Britain's vote to leave the European Union are reverberating through the economy, with surveys published yesterday showing a dive in consumer confidence and a slowdown in construction. Preparing for a Brexit-related slowdown, Lloyds Banking Group said it would cut 3,000 jobs and one of Britain's biggest car dealerships, ...
Giles Elgood and Costas Pitas, Reuters / Times of Malta | Fri, 29 Jul 2016 04:15:05
City Insider: Michel Barnier is back
The Frenchman handpicked as Brussels' chief Brexit negotiator is an experienced operator
FT | Fri, 29 Jul 2016 04:00:21
Post-Brexit, London's Financial Center Has English Law on Its Side
ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesPost-Brexit, London's Financial Center Has English Law on Its Side In its battle to keep financial institutions in London, Britain has an overlooked ally: English law.Post-Brexit, City of London Has English Law on Its Side In its ...
WSJ | Fri, 29 Jul 2016 03:16:25
In Derivatives Trading, London is King
The Brexit vote has raised questions about London's position as the world's financial-services capital. A close look at the derivatives business makes plain how massive a change a move away from London would be.
WSJ | Fri, 29 Jul 2016 02:26:17
European funds drained of $76bn this year
Uncertainty over Brexit implications and Italian banking crisis weigh on investors
FT | Fri, 29 Jul 2016 00:30:33
UK sees biggest fall in consumer confidence for 26 years after Brexit vote
Economic outlook has hit household and manufacturing confidence, with index showing sharpest month-to-month drop since 1990 Growing worries about the economic outlook have dented the confidence of UK households and manufacturers, according to the latest reports to suggest the Brexit vote result will slow the economy. A poll by market ...
Katie Allen / Guardian | Thu, 28 Jul 2016 23:05:20
Brexit knocks manufacturers' confidence - report
Confidence among manufacturers has slumped since the UK's vote to leave the European Union, a report indicates.
BBC | Thu, 28 Jul 2016 23:04:14
Regions seek guarantees over EU funding
Local Government Association urges Westminster to confirm spending plans despite Brexit uncertainty
FT | Thu, 28 Jul 2016 23:01:51
Consumer confidence suffers biggest drop in 26 years after Brexit vote
Szu Ping Chan / Telegraph | Thu, 28 Jul 2016 23:01:00
Whatever the impact of Brexit, we need to energise our economy
Allister Heath / Telegraph | Thu, 28 Jul 2016 22:25:59
With Michel Barnier, Is The E.U. Telling Britain To Get Lost?
It's too soon to tell how the E.U. and Britain will play their hands in the Brexit negotiations, but it's never too early to start reading the tea leaves.
David Schrieberg, Contributor / Forbes | Thu, 28 Jul 2016 20:58:00
Trump seen on same page as Putin on Crimea, NATO, Brexit, sexism
Donald Trump has refused to condemn Russia's military takeover of Ukraine's Crimean Peninsula, saying if elected he would consider recognizing it as Russian territory, in the latest of a series of statements that have raised eyebrows about the Republican candidate's intentions toward the Kremlin. "We'll be looking at that. Yeah, ...
Japan Times | Thu, 28 Jul 2016 20:54:46
Now That the Dust Has Settled, Here's What Brexit Can Teach Us Yankees
For as much as they disagree on, it seems that both sides of the Brexit campaign relished the idea of a vote that was final in a way that few votes are.
Rob Goodman / NY Observer | Thu, 28 Jul 2016 20:03:34
To show confidence, Philip Hammond should hang on to Lloyds shares | Nils Pratley
'Market volatility' postponed George Osborne's plan for Lloyds retail offer - the new chancellor should play the long game Be grateful, dear retail investor, that George Osborne never got a chance to unleash his mass-market offer of shares in Lloyds Banking Group. The former chancellor had planned to sell discounted ...
Nils Pratley / Guardian | Thu, 28 Jul 2016 19:27:06
Scotland has four EU options - but which are realistic?
Everyone is trying to figure out what Brexit means - including Scotland. Scottish First Minister Nicola Sturgeon meets with UK Prime Minister Theresa May. PAimages/Andrew Milligan. All rights reserved. Everyone is trying to figure out what Brexit means. Theresa May says Brexit means Brexit and is for the whole UK ...
Kirsty Hughes / Open Democracy | Thu, 28 Jul 2016 19:25:42
Auto Makers in Europe Fret About Crimp From Brexit
After years of financial heartache in Europe, second-quarter results show global auto makers are finally seeing a turnaround in the region-just as Brexit raises a cloud over the industry.
WSJ | Thu, 28 Jul 2016 19:21:42
Thomas Cook revenues fall after terror attacks slow holiday demand
Travel operator will miss profit target after sharp decline in bookings to Turkey, Egypt and Tunisia results in £25m quarterly loss All-inclusive package holidays could become more popular as British holidaymakers try and avoid Brexit-related price rises, according to Thomas Cook. The travel company revealed on Thursday that it had ...
Sarah Butler / Guardian | Thu, 28 Jul 2016 19:12:36
The Brexit reckoning: UK plc reports
Company performance diverges after Britain votes to leave the EU
FT | Thu, 28 Jul 2016 18:43:36
Don't dive into a pre-packaged Brexit trade deal, Prime Minister. We can do better
Adam Marshall / Telegraph | Thu, 28 Jul 2016 18:36:12
U.S. Stock Markets Have Become a Lot Less Exciting This Month
If it feels like U.S. stock markets have become a lot more quiet, it's not some post-Brexit hangover. It's because trading in U.S. stocks has become far more muted in July.
MoneyBeat | Thu, 28 Jul 2016 18:15:58
Erkki Liikanen on post-Brexit EU
Lede: The future of the European Union is rife with uncertainty after Brexit. World Policy Journal Editor Emeritus David A. Andelman speaks with Erkki Liikanen, a member of the European Central Bank Governing Council and Governor of the Bank of Finland about the Finnish economy, structural reform, and the continued ...
admin / World Policy | Thu, 28 Jul 2016 18:00:37
What's Going On With USD Libor?
While the financial world's attention is fixed on the global macro economy, Brexit and, China, something has been going on with USD Libor fixings. The past couple of weeks have seen a sharp increase in USD Libor fixings and widening in [...]
Value Walk | Thu, 28 Jul 2016 17:53:33
Brexit recession could cost banks £68bn
Tim Wallace / Telegraph | Thu, 28 Jul 2016 17:43:38
Brexit's Biggest Fans in Big Trouble?
Andre Tartar and Jill Ward of Bloomberg report, Brexit's Biggest Fans Face New 115 Billion-Pound Pension Hole:Turning 65 in the U.K. used to mean mandatory retirement and a future of endless holiday. But in 2016 it has come to signify a very different cut-off: membership in the single most pro-Brexit ...
Leo Kolivakis / Leo Kolivakis | Thu, 28 Jul 2016 17:32:00
Keep Your Eye on Italy
( Steven Hayward ) Earlier this month we reported here ("Brexit Vote: Italy Hardest Hit?") about how Italy was the nation to watch in the aftermath of Brexit, as it had the weakest financial profile among EU nations after Greece. Tomorrow Italy will report the results of its "stress tests" ...
Power Line | Thu, 28 Jul 2016 17:30:18
UK-Ireland relations need special care
May recognises that Brexit cannot put a hard-won peace at risk
FT | Thu, 28 Jul 2016 17:25:33
Why Palladium Is Smoking Your Brexit Gold Investment
Why Palladium Is Smoking Your Brexit Gold Investment There have been thousands upon thousands of words written about Brexit, and still, no one really knows what the future will hold. Will the British economy suffer? What happens to the Euro? [...]
Attain Alternative Blog / Value Walk | Thu, 28 Jul 2016 17:18:41
Brexit Beneficiaries? UK SMEs May Avoid The Investment Downturn
The received wisdom on the UK's exit from the European Union is that it will result in a sharp downturn in investment, but there is, perhaps, a glimmer of light for entrepreneurs. The latest Lloyds Bank Investor Sentiment Report suggests that between June and July investor sentiment dipped sharply. This ...
Trevor Clawson, Contributor / Forbes | Thu, 28 Jul 2016 17:13:00
Ford considers closing factories and raising prices in Europe in wake of Brexit
Announcing disappointing results on Thursday, the motor company forecast EU referendum decision could cost the company $1bn over the next two years Ford has warned it is considering closing factories and raising prices in the UK and Europe in the wake of Britain's vote to leave the European Union. Announcing ...
Dominic Rushe and agencies / Guardian | Thu, 28 Jul 2016 17:01:32
Ford to hike car prices and mulls UK plant closures in wake of Brexit vote
Alan Tovey / Telegraph | Thu, 28 Jul 2016 16:59:51
Brexit vote hits confidence, hurts companies and weakens London housing market - as it happened
Rolling coverage of the latest economic and financial news, including.... Consumer confidence hits three-year low UK's largest estate agent issues Brexit earnings warning Lloyds slashes thousands of jobs ahead of slowdown Carmakers, surveyors and retailers sound the alarm 5.44pm BST After the Federal Reserve kept US interest rates on hold ...
until 2pm / Guardian | Thu, 28 Jul 2016 16:44:16
How a U.K. Labour party meltdown could play out in wake of Brexit vote
Britain's Conservative Party just tore itself apart over the EU referendum ; David Cameron was forced to resign as prime minister . Yet the party in meltdown is Labour. Polling out this past weekend shows Labour drawing 31% , vs. 37% for Conservatives, if a general election were held tomorrow. ...
Richard V. Reeves / Brookings | Thu, 28 Jul 2016 16:21:00
Lloyds to shed more jobs and branches
Bank more than doubles first-half profits but warns of Brexit slowdown
FT | Thu, 28 Jul 2016 16:18:04
FTSE 100 retreats from one-year high as Lloyds cuts 3,000 jobs amid Brexit uncertainty
Tara Cunningham / Telegraph | Thu, 28 Jul 2016 16:12:25
WSJ City's Brexit Briefing: 'Totally Lost' Clients, Lansdowne Bets on UK, European Earnings Bonanza
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 ...
Darren Lazarus / MoneyBeat | Thu, 28 Jul 2016 16:01:46
Check your hedges, Citi warns corporates, amid Brexit FX volatility
The UK's decision to leave the EU has left corporates scrambling to review many aspects of their business to ensure they are able to withstand heightened volatility. Injecting a greater level of optionality into their hedging strategies is one way to protect themselves from increased uncertainty, says Citi.
Euromoney | Thu, 28 Jul 2016 16:00:00
Where Are The Brexit Casualties?
The financial media seems to be wound up like a coiled spring in anticipation of "Brexit Casualty" stories now that the earnings season in the U.K.--and U.S.--is in full swing. The coverage of U.K. banking group Lloyds' results this AM seemed to be an opportunity for this type of scaremongering. ...
Jim Collins, Contributor / Forbes | Thu, 28 Jul 2016 15:55:00
Lloyds to cut 3,000 jobs, close more branches after Brexit shock
(Reuters) - Lloyds Banking Group is to step up its cost cutting plans to help to offset a more testing economic environment caused by Britain's vote to quit the European Union.
IFR | Thu, 28 Jul 2016 15:51:00
'Deceleration of growth seems likely': Brexit shockwaves hit British jobs, consumer confidence
A month after the referendum, the latest signs of an economic slowdown are likely to fuel expectations of action by the Bank of England on Aug. 4
Reuters / Financial Post | Thu, 28 Jul 2016 15:47:17
NSO calculator to predict changes to economy
A new tool offered by the National Statistics Office allows researchers to forecast the effect on local industries of a sudden increase in tourists or the assumed impact of Brexit, among other things. The NSO has published what are known as the "supply, use and input-output" tables, which show the ...
Sarah Carabott / Times of Malta | Thu, 28 Jul 2016 15:47:04
Euro zone confidence rises after Brexit
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Royal Dutch Shell, Brexit, Telefonica and Rolls-Royce
CNBC | Thu, 28 Jul 2016 15:30:00
Ford warns of $1bn Brexit blow
Finance chief says price of cars in UK will rise in bid to "claw back" losses from weaker sterling
FT | Thu, 28 Jul 2016 15:01:42
British PM: Immigration control must be part of EU-UK deal
British Prime Minister Theresa May says any future deal on cooperation between her country and the European Union has to take into account "a clear message" from the Brexit vote over immigration control
U.S. News | Thu, 28 Jul 2016 14:26:57
IMF says exceptional Irish recovery subject to big Brexit risks
DUBLIN, July 28 (Reuters) - Ireland's economic recovery has been exceptional but is incomplete and now subject to large downside risks after Britain's vote to leave the European Union, the...
Reuters | Thu, 28 Jul 2016 14:25:09
The Fed That Cried Hike
I believe the Fed lost a lot of credibility when they made a concerted effort to 'put June on the table' and had to backtrack after weak data and the potential for Brexit derailed their plans. I thinkyesterday was a clear example of that. Was the FOMC Statement Hawkish? Given ...
Peter Tchir, Contributor / Forbes | Thu, 28 Jul 2016 14:04:00
Countrywide warns on earnings as London property market stalls
UK's largest estate agent sees share price fall amid Brexit worries and interest rate uncertainty, despite house price rise Countrywide, the UK's biggest estate agent, has warned that its 2016 earnings will be lower than last year, saying commercial and London residential transactions have stalled after Britain voted to leave ...
Julia Kollewe / Guardian | Thu, 28 Jul 2016 13:33:26
Using technology to inject the demos back into democracy
Online deliberation allows us to take a leap towards much deeper democracy. The Agora at Tyre, Heretiq, Wikimedia The recent Brexit referendum revealed a deep societal rift about what the word 'democracy' means. To some, the term 'democracy' is inseparable from the idea of majoritarian rule, and is viewed as ...
Open Democracy | Thu, 28 Jul 2016 12:17:35
Rolls-Royce beats expectations
Shares rise 17% as aero-engine maker maintains guidance despite Brexit hitting currency hedge
FT | Thu, 28 Jul 2016 11:54:11
This chart is easy to interpret: It says we're screwed
This is the worst chart we've seen so far about the coming Brexit recession: UK GDP came in higher than expected at 2.2% for Q2, but that number reflects the economy before the June 23 EU referendum. The lines above are from a more recent survey of financial officers at ...
Business Insider | Thu, 28 Jul 2016 11:34:17
Schroders suffers heavy outflows
UK's largest listed asset manager blames withdrawals on difficult conditions post-Brexit
FT | Thu, 28 Jul 2016 11:16:18
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
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