Truck attacker plows into French crowd, kills 84 celebrating Bastille Day – Reuters
A gunman at the wheel of a heavy truck plowed into crowds celebrating Bastille Day in the French city of Nice, killing at least 84 people and injuring scores more in what President Francois Hollande called a terrorist act.
- France in Shock as More Than 80 Killed in Terror Attack in Nice – Bloomberg
- Terror Attack in Nice on Bastille Day Kills Dozens – WSJ [subscription]
- Nice attack: France mourns after 84 killed in Bastille Day atrocity – The Guardian
- Nice attack: Who was the killer? – BBC
- Who is the Nice terror attack suspect? Everything we know so far about Mohamed Lahouaiej Bouhlel – The Telegraph
BoE Surprisingly Maintains Rates at 0.5%, Expects Stimulus Measures in August – Profit & Loss
In a surprise move the Bank of England’s Monetary Policy Committee overwhelmingly voted to maintain bank rates at 0.5% Thursday, although it said it expects to take some stimulus measures in August.
- Pound Set for Best Week Since 2009 as May, Carney Fuel Rebound – Bloomberg
- Sterling set for best week since 2009 after BoE surprise – Reuters
- Bank of England Leaves Interest Rate Unchanged – WSJ [subscription]
May builds new-look Brexit cabinet to steer EU divorce – Reuters
New Prime Minister Theresa May ruthlessly overhauled the British cabinet on Thursday, sacking a raft of ministers, promoting loyalists and putting supporters of Britain’s exit from the European Union firmly in charge of negotiating its terms.
‘Cartel’ FX Trader Ashton’s Whistleblowing Claim “Absurd”, Says Former Barclays COO – Profit & Loss
Chris Ashton’s claim of whistleblowing against Barclays, where he was formerly head of spot FX voice trading, is “absurd”, according to Justin Bull, the bank’s former global chief operating officer.
Treasury Corporate-Debt Rules Exceed Authority, Tax Lawyers Say – Bloomberg
The U.S. Treasury Department exceeded its authority by proposing wide-ranging regulations intended to curb corporations’ ability to shift their American earnings overseas, tax lawyers told agency officials during a hearing.
J.P. Morgan Posts Stronger-Than-Expected Results on Trading Surge – WSJ [subscription]
J.P. Morgan Chase & Co. kicked off bank earnings season with better-than-expected results that pointed to underlying strength in the U.S. economy and a still-healthy consumer.
Raging Debate in Bitcoin-land: Should a Thief Get to Keep the Money? – WSJ [subscription]
When millions of dollars are stolen from investors, those investors usually want their money back right away. In the world of virtual currencies, it isn’t that simple.
CLS Volumes Surge in June – Profit & Loss
The average daily input value submitted to CLS was $5.19 trillion in June, up 12.6% from the previous month and up 3% year-on-year.
Pragma Aims to Enhance Transparency with New Database Launch – Profit & Loss
Pragma Securities has launched TradeBase, a relational database that provides clients real-time access to their parent and child FIX order messages.
European Shares Halt Rally After France Attack as Pound Advances – Bloomberg
European stocks halted this week’s rally as French shares retreated following a deadly terror attack in Nice. In Asia, equities rose for a fifth day as Chinese economic data beat estimates after a strong start to the U.S. corporate earnings season.
China Keeps Bears at Bay for Another Quarter on Credit Honey Pot – Bloomberg
You can’t have your fish and your bear paw too.
The ancient parable (the Chinese equivalent of the English-speaking world’s cake-based dilemma) pretty much sums up the current state of play within the nation’s $10-trillion plus economy.
Federal Reserve policymakers signal no rush to raise U.S. rates – Reuters
Three Federal Reserve policymakers on Thursday expressed the view that there was no hurry to raise U.S. interest rates in the wake of the UK decision to leave the European Union, despite signs that the U.S. economy is near full employment.
World’s Newest Banking Crisis Revolves Around World’s Oldest Bank – WSJ [subscription]
A high-stakes conflict is brewing between Italy and the European Union over the rules for bailing out banks—and the country’s third-largest lender is at the center of it.