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August, 29, 2016

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Business > Global Markets
IMF head calls for quick end to Brexit uncertainty
The head of the International Monetary Fund called Friday for quick action to end uncertainty over Britain's vote to leave the European Union, which she said is dampening global economic growth.
 
US banks get Brexit boost but face longterm pain
Large U.S. banks got a lift from the June "Brexit" vote in the second quarter, but could face long-term pain from a British retreat from the European Union.
 
Oil prices dipped in Asia on Friday, extending the previous day's sharp losses, while analysts warned the ongoing global supply glut would likely linger.
 
Led by slumps in Europe and Latin America, world crude steel production fell by 1.9 percent in the first six months of 2016 compared with the same period a year earlier, the World Steel Association (WSA) said Wednesday.
 
Oil prices edged up in Asia Thursday following U.S. data showing a drop in inventories and tracking gains across regional markets, while traders await central bank policy meetings in Europe and Japan.
 
U.S. Transportation Secretary Anthony Foxx said Tuesday that he wants government regulators and the auto industry to work more closely together to test self-driving technology before people entrust their vehicle's steering and brakes to a robot.
 
Europe's main stock markets rose Wednesday, led higher by eurozone indices on the eve of an interest rate decision from the European Central Bank.
 
The U.S. dollar broadly rose Wednesday as another positive round of U.S. data fanned speculation the Federal Reserve will lift interest rates, while central banks elsewhere consider stimulus measures to kick start growth.
 
Oil prices recovered slightly Wednesday from two-month lows, as traders looked ahead to U.S. energy inventory data for indications of demand in the world's biggest crude consumer.
 
The yen on Tuesday briefly wiped out all of the gains in the wake of Britain's vote to leave the European Union, with central bank stimulus speculation holding back the unit.
 
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