Bloomberg Business -Markets mixed: Ahead of the U.S. jobs data world equity markets are mixed. The MSCI Asia Pacific Index dropped 0.6 percent overnight as the strengthening yen kept pressure on Japanese stocks. In Europe, the Stoxx 600 Index was 0.5 percent higher at 5:53 a.m. ET as Italian banks rose on speculation of government....
Bloomberg Business -Japan stimulus bets: Japanese Prime Minister Shinzo Abe’s conservative coalition is set for a super-majority in the upper house of parliament following the weekend election. A win would allow his administration to push ahead with constitutional reform. Abe has also promised to take action on the economy, saying he wants «the swift formulation....
Bloomberg Business -May day: Later today U.K. Prime Minister David Cameron will head to Buckingham Palace to tender his resignation to the Queen, who will then ask Theresa May to form a government. She is expected to start naming her new ministerial team this evening, with the key roles of Chancellor of the Exchequer and....
Bloomberg Business -Good news for the U.K.: Amid all the Brexit gloom, there were a couple of pieces of good news for the U.K. this morning. In the three months through May, the unemployment rate fell to 4.9 percent, its lowest level since 2005. While this data predates the Brexit referendum, there was survey data....
Bloomberg Business -U.K. PMIs plunge: It is one month since the Brexit vote tomorrow, which means data from the U.K. are catching up with the post-vote economy. This morning, a composite Purchasing Managers’ Index estimate published by Markit Economics fell to 47.7 for July, its lowest level since April 2009. The pound fell sharply after....
Bloomberg Business -BP profit slump: BP Plc posted a 45 percent slump in earnings, saying adjusted profit dropped to $720 million from $1.3 billion a year earlier — below analysts’ expectations. Continuing low oil prices and «significant pressure» on refining margins hit the company’s bottom line. Shares in the oil major were 2.4 percent lower....
Bloomberg Business – Stocks: The S&P 500 was little changed at 2,173.61 at 9:32 a.m. in New York, two points from an all-time high. The benchmark index has climbed for five straight months, the longest since 2014. S&P 500 companies posting results this week include Pfizer Inc., Procter & Gamble Co., Time Warner Inc. and....
Bloomberg Business -Markets take a tumble: Markets on Tuesday were hit with a familiar cocktail of concerns over lower oil prices, the health of banks, central bank impotence, and a weakening economy following the release of mediocre U.S. auto sales and lukewarm consumer spending data. Tuesday’s fall means the S&P 500 has notched its first....
Bloomberg Business «Brexit: The Marmite of politics»: The shadow of Brexit continues to loom large over U.K. markets as the consequences of the pound’s slide — with sterling falling below $1.215 in morning trading — are thrown into sharp relief by a dispute between retailer Tesco Plc and the Unilever group. The latter is reportedly....
Bloomberg Business -“Bonds Fall as BOE Drops Rate-Cut Signal; Pound Jumps on Ruling” Global bonds declined after the Bank of England said it’s no longer expecting to cut interest rates again this year. Sterling rallied after a court ruled that the U.K. must hold a vote in Parliament before starting the two-year countdown to Brexit.....
Bloomberg Business -“Is China Repeating Japan’s Missteps?” Beijing may seem dynamic, but it’s heading down a path we’ve seen before. China and Japan may seem to inhabit alternative economic universes. After more than two decades of stagnation, Japan is a fading global power that can’t seem to revive its fortunes no matter what unorthodox gimmicks....
Bloomberg “Big Oil Gets a Huge Role in Trump’s Administration” All across the oil patch, they’re figuratively uncorking the champagne bottles as Tillerson and other well-placed leaders and friends are proposed for top jobs. Rick Perry, former governor of oil-rich Texas, has been picked to run the Energy Department, which he once famously threatened to....
The Guardian “Venezuela: police helicopter attacks supreme court with grenades” A police helicopter launched grenades at Venezuela’s supreme court building on Tuesday evening following months of protests against the country’s president, Nicolás Maduro. Maduro said “terrorists” had lobbed two grenades that failed to detonate. Some reports put the number of grenades higher. Local media suggested....
SNL Financial “JPMorgan makes a move on UK payments biz; Saba Capital to shut London office” On the M&A front, JPMorgan Chase & Co. and Vantiv Inc. are trying to buy London-based Worldpay Group plc. The British payments company confirmed that it received separate preliminary takeover approaches from the two U.S. companies. Sources for the....
BBC “Ukraine wants membership plan talks, says Poroshenko” Ukraine’s president has asked for discussions to begin on an action plan that could eventually lead to membership of Nato. Petro Poroshenko said the will of the Ukrainian people was to eventually join the Western military alliance. Nato Secretary General Jens Stoltenberg said any decision on future....