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July, 30, 2016

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Business > Global Markets
Oil prices rebounded Tuesday as bargain hunting and fear of production outages in Norway outweighed Brexit concerns, traders said.
 
China weakened the yuan's fixing almost 1 percent to a 5-1/2 year low against the U.S. dollar Monday, officials said, the biggest downward move since August as the greenback surge after Britain's vote to leave the European Union.
 
Britain battled to stop worldwide Brexit alarm Monday but failed to prevent the pound crumbling to a three-decade low against the U.S. dollar as European shares took a fresh plunge.
 
UK brace for economic repercussions for Brexit as EU commissioner quits
The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they'll find out whether it will.
 
With its capacity boosted by nearly three times, Panama's enlarged canal -- set to be inaugurated on Sunday -- is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal.
 
The pound climbed against the U.S. dollar in Asian trade while stock markets were mostly up but traders stepped nervously as the UK began voting in a knife-edge in-out EU referendum Thursday.
 
Oil prices rose in Asia on Thursday, hours ahead of a high-stakes British vote on whether to remain in the European Union.
 
U.S., European and Chinese regulators say they will jointly enforce product safety in online commerce, and an American official said they are making progress on crafting standards for hoverboards.
 
The pound rallied against the U.S. dollar and yen in Asia Wednesday as bookmakers bet heavily that Britain will vote to stay in the European Union, despite opinion polls pointing to a neck-and-neck race.
 
Oil prices hit reverse Tuesday, snapping two days of gains as dealers awaited this week's U.S. crude inventories data and Britain's critical in-out EU membership referendum.
 
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