June, 2016

• 23 June

  Renters are making more, and landlords get it all

  

    Bloomberg A popular narrative of the U.S. housing market has been that big city prices are locking out young buyers, feeding a cycle in which a growing number of people are forced to rent at ever higher rates as demand overwhelms supply. Throw in the fact that wages haven’t kept pace, and you have a world where a wide ...

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• 23 June

  ECB reinstates Greek waiver in boost for nation’s lenders

  

    Bloomberg The European Central Bank reinstated a waiver on Greek debt, allowing the nation’s banks more access to cheaper refinancing lines but stopping short of including such bonds in quantitative easing for now. The ECB “decided to reinstate the waiver affecting the eligibility of marketable debt instruments issued or fully guaranteed by the Hellenic Republic,” the institution said in ...

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• 23 June

  UK exit saga looms over Europe as growth, inflation remain elusive

  

    Bloomberg Growth in the euro area’s private sector slowed more than economists predicted in June, with firms expressing concerns about uncertainty ahead of the U.K.’s vote on its European Union membership. A Purchasing Managers’ Index for manufacturing and services fell to 52.8 from 53.1 in May, London-based Markit Economics said on Thursday. The decline to the lowest level since ...

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• 23 June

  German economy unfazed by Britain’s EU referendum

  

    Bloomberg Germany’s economy is showing little sign that Britain’s referendum on European Union membership is damping investment, according to Markit Economics. A Purchasing Managers’ Index for manufacturing and services was at 54.1 in June after a reading of 54.5 in May, the London-based company said on Thursday. While that’s the lowest in two months, it’s well above the 50 ...

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• 23 June

  French output declines for 1st time in 4 months in June

  

    Bloomberg France’s private-sector economy shrank for the first time in four months in June, with manufacturing slumping the most in more than a year. A composite Purchasing Managers’ Index fell to 49.4 from 50.9 in May, London-based Markit Economics said on Thursday. That’s below the 50-point mark that divides expansion from contraction. A gauge for manufacturing dropped to 47.9, ...

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• 23 June

  Euro will strengthen in 2016 with or without Brexit: Mizuho

    Bloomberg The euro will strengthen this year no matter which way the U.K. votes in Thursday’s referendum on its European Union membership, according to one of the most accurate forecasters of the currency. A record current-account surplus and rising inflation-adjusted bond yields will limit any declines in the shared currency to $1.10, said Daisuke Karakama, chief market economist at ...

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• 23 June

  VW owners split for first time on diesel scandal in AGM vote

  

    Bloomberg Volkswagen AG’s typically close-knit owners publicly split for the first time over the diesel crisis after the German state of Lower Saxony withheld support for two executives under investigation for their role in the scandal. Volkswagen’s second-largest shareholder abstained from what is typically a ceremonial vote at the annual meeting, declining to back former CEO Martin Winterkorn and ...

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• 23 June

  USA Democrats fail to force gun control vote in Congress

  

    Washington / AFP US Democrats failed to force Congress to vote on gun safety legislation following the Orlando nightclub massacre as Republican leaders adjourned the House early on Thursday after a dramatic overnight sit-in by Democrats. The scenes on the House floor, unprecedented in recent history, began after Democrats took over the chamber’s proceedings for most of the day, ...

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• 23 June

  Tornadoes hit Illinois; homes, gas station damaged

  CHICAGO / AP Powerful storms packing multiple tornadoes swept through parts of the Midwest on Wednesday night, damaging homes and a gas station in central Illinois and sending tens of thousands of soccer fans seeking shelter during the Copa America semifinal in Chicago. Chuck Schoop, emergency manager for Livingston County in central Illinois, said a tornado destroyed the canopy of ...

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• 23 June

  No July 4 fireworks at US bases in Japan

    TOKYO / AP There will be no Fourth of July fireworks for American troops in Japan this year due to restrictions imposed after a former US Marine was accused of murdering and raping a woman on Okinawa. The US Navy in Japan said Thursday that it had canceled planned annual Independence Day fireworks at its bases as part of ...

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