Tourists aren’t the only ones flocking to Britain for bargains.
In the wake of the country’s June 23 vote to leave the European Union, the U.K.’s stocks and currency dropped, presenting an attractive prospect to global buyers looking for cheap assets and giving local businesses an incentive to reduce their exposure at home.
- Sajid Javid to start round the world trade tour to secure British deals – The Daily Telegraph
- UK consumer confidence in sharpest drop in decades amid recession fears – CNBC
- Conservative leadership election: Theresa May and Andrea Leadsom begin the battle to replace David Cameron as leader – The Daily Telegraph
- For British exporters, weak pound may not offset Brexit turbulence – Reuters
U.S. President Barack Obama urged NATO leaders on Friday to stand firm against a resurgent Russia over its seizure of Crimea from Ukraine, saying Britain’s vote to leave the European Union should not weaken the western defense alliance.
Police said there are at least four suspects after snipers shot at least 11 police officers, killing 5, in a downtown area of Dallas where protests had been taking place Thursday night. One civilian was also injured. Police also suspect bombs may be planted in downtown Dallas. The FBI and ATF are on the scene, canvassing for explosives.
Australian Prime Minister Malcolm Turnbull looked almost certain to retain power after a bruising national election as key independent lawmakers pledged support and marathon vote counting in close-run electorates leaned in his favor on Friday.
Japan’s coalition government faces a key test at parliamentary elections on Sunday as Prime Minister (PM) Shinzo Abe seeks support for constitutional reforms.
Four former bankers at Barclays have been jailed for their role in attempting to manipulate the interest rate benchmark Libor.
U.S. prosecutors dropped a criminal complaint over Libor against three former ICAP Plc brokers after the men were acquitted by a U.K. court earlier this year.
EBS BrokerTec and Icap Information Services (IIS) have launched EBS CNH Benchmark, the first fully electronic, trade-backed reference rate for the offshore Chinese renminbi (CNH) market, according to Icap.
In a speech given at the European Central Bank’s Eighth Conference on Statistics, US Office of Financial Research (OFR) deputy director and chief data officer Cornelius Crowley called for improved cooperation between the finance industry and regulators to develop more consistent microdata.
Eight years after the financial crisis, bank bailouts are being discussed once again in Europe. Low and even negative interest rates, the weight of soured assets, high legal bills and new digital competitors are all depressing shares and executives. Britain’s decision to leave the European Union has further undermined confidence in the banking sector.
The total average daily volume (ADV) of foreign exchange trading across Thomson Reuters platforms in June totalled $394bn, rising by by 5% year-on-year and by 13.5% month-on-month.
Asian stocks deepened losses and the Japanese yen strengthened against the greenback on Friday as investors dumped riskier assets and fled to safe havens after four police officers were killed and others wounded in the United States.
U.S. job growth likely rebounded in June as striking Verizon (VZ.N) employees returned to work and wages probably rose steadily, more evidence the economy has regained speed after a first-quarter lull.
- Italy Pushes Europe Stocks Up for 2nd Day, Trimming Weekly Drop – Bloomberg
- June jobs report: Will it put an end to recession fears? – CNBC
- Dollar Falls Before Jobs Data as Oil Below $46 Weighs on Stocks – Bloomberg
The energy-producing states of the Persian Gulf are issuing bonds at the fastest clip ever, showing how the oil bust is reshaping the region’s finances despite a near doubling of crude prices this year.