Bloomberg The pound climbed the most since 2008, spurring a global rally in higher-yielding currencies, as polls signaled the campaign for the U.K to stay in the EU was gaining momentum. Sterling’s volatility diminished as surveys taken after the murder of pro-EU lawmaker Jo Cox showed “Remain” gaining lost ground. A poll from Survation taken June 17-18 for the ...

  Bloomberg Toyota Motor Corp., the world’s largest automaker, warned a withdrawal by Britain from the European Union may lead to levies of as much as 10 percent on the cars it builds in the U.K. Brexit would challenge Toyota to cut costs or make its cars more expensive and hurt sales, the automaker said in a letter on Monday ...

  Bloomberg Jaguar Land Rover said a withdrawal by the U.K. from the European Union could mean new trade deals will have to be negotiated both within the region and beyond, resulting in uncertainty. Leaving the EU would be “highly damaging” and make the U.K.’s biggest carmaker’s products less competitive in Europe, JLR Chief Executive Officer Ralf Speth said in ...

  Madrid, Spain / AP Spain is coaxing Indian moviemakers to use its colourful fiestas and historic monuments as settings for their films, in a move to grab a bigger share of India’s fast-growing overseas tourism market. As part of its bid to lure visitors from the world’s second most populous country, Madrid will host next weekend the annual International Indian ...

  Bloomberg Here comes Canadian oil to douse the hottest rally since 2009. Money managers reduced bets on rising oil prices by the most in 11 months as Canadian output continued to ramp up after Alberta’s wildfires. The recovery in oil prices remains “fragile” as disrupted supplies return to the market and prolong a global surplus, according to Goldman Sachs ...

  Bloomberg Morgan Stanley says investors should bet on longer-term bonds ahead of the U.K. vote on whether to leave the European Union. “We suggest investors remain long duration across developed rate markets into the EU referendum,” Morgan Stanley analysts including Matthew Hornbach, the head of global interest-rate strategy in New York, wrote in a June 17 report. “Rates would ...

  Bloomberg Crude prices around $50 a barrel are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said in an interview. “$50 is enough,” he said on Bloomberg Television. The company’s average production cost is around $12 a barrel, he said. Petroleos de Venezuela SA will ...

  Bloomberg Oil gained for a second day above $48 a barrel as the dollar retreated, boosting the appeal of commodities priced in the U.S. currency. Futures rose as much as 1.3 percent in New York after climbing 3.8 percent. The Bloomberg Dollar Spot Index fell for a fourth day after closing at the lowest since June 9. Russian President ...

  Bloomberg The Colombian peso led losses among emerging-market currencies amid concern the U.K. will vote to leave the European Union and after the Latin American nation increased its fiscal deficit target. The currency pared its drop as bets on a so-called Brexit decreased. The peso retreated 1.3 percent to 3,015.95 per dollar in Bogota, after slumping as much as ...

  James D.J. Brown SPECIAL TO EMIRATES BUSINESS On May 6, 2016, Prime Minister Shinzo Abe travelled to Russia to meet with President Vladimir Putin in Sochi. This was a bold move by the Japanese leader, as it was seen as breaking ranks with the G7’s policy of isolating Russia in response to the 2014 annexation of Crimea. U.S. President ...