TimeLine Layout

June, 2016

  • 14 June

    UK moves closer to Brexit as The Sun backs ‘Leave’ vote

      Bloomberg Britain appeared to be on course to leave the EU, with four polls from three companies putting the ‘Leave’ campaign ahead of ‘Remain.’ The pound and European stocks plunged on Tuesday with just nine days of campaigning left before the June 23 referendum. After a series of new polls on Monday put “Leave” ahead, the day’s final blow ...

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  • 14 June

    Pound drops towards two-month low as ‘Leave’ campaign pulls ahead

      Bloomberg The pound fell toward a two-month low as concern grew that the U.K. will leave the European Union. Sterling declined against all but two of its 16 major counterparts as four polls from three companies put the “Leave” campaign ahead and the Sun, Britain’s biggest-selling newspaper, backed a Brexit on its front page. A gauge of the pound’s ...

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  • 14 June

    Britain’s upstart lenders face Brexit shock in first downturn

      Bloomberg Investors contemplating how London could look outside the European Union have already identified some potential victims: fast-growing British lenders that might have to face their first economic downturn as public companies. Billionaire Richard Branson’s Virgin Money Holdings UK Plc and small lenders like OneSavings Bank Plc have ridden the recovering economy of recent years to help them win ...

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  • 14 June

    Daetwyler to buy Britain’s Premier Farnell for $871mn

      Bloomberg Daetwyler Holding AG, a Swiss provider of engineering and industrial parts, agreed to buy Premier Farnell Plc of the U.K. for £615 mn ($871 million) in a deal aimed at consolidating the fragmented European market for electronic-component distribution. Investors will get 165 pence in cash for each Premier Farnell share, the company said in a statement on Tuesday. ...

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  • 14 June

    France’s top grain cooperative says exports to keep brisk pace

      Bloomberg France is set to continue the quick pace of wheat exports into next season, with low freight rates and large stockpiles helping increase overseas sales, according to the nation’s largest grain cooperatives. Shipments will probably start earlier than last year and exports to unusual destinations including countries in Asia will continue, Philippe de Raynal, chief executive officer of ...

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  • 14 June

    Swedish inflation slows than estimated in blow to Riksbank

      Bloomberg Swedish inflation slowed more than estimated in May, adding pressure on the central bank to expand its unprecedented stimulus measures at its meeting next month. Consumer prices rose an annual 0.6 percent in May, compared with 0.8 percent the prior month, Statistics Sweden said in a statement on Tuesday. The Riksbank and analysts surveyed by Bloomberg estimated inflation ...

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  • 14 June

    GAM Holding’s first-half profit falls by half on lower fees

      Bloomberg GAM Holding AG said first-half profit will probably fall by half after performance fees at the Swiss asset manager dried up. Underlying profit before and after tax is expected to decline by about 50 percent from a year earlier, the Zurich-based company said in a statement on Tuesday. Performance commissions will probably tumble to 1 million Swiss francs ...

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  • 14 June

    IEA predicts lower oil surplus, sees market balance in 2017

      Bloomberg The global oil market will be almost balanced next year as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought, the International Energy Agency said. The surplus in the first half of this year is about 40 percent smaller than estimated a month ago, as consumption proves stronger than expected ...

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  • 14 June

    Twitter jumps as Microsoft-LinkedIn deal could spur more

      Bloomberg Twitter Inc. jumped after Microsoft Corp.’s $26.2 billion agreement to buy LinkedIn Corp. prompted speculation other technology companies may become acquisition targets. Twitter ended the day up 3.8 percent to $14.55 in New York after rising as much as 9.1 percent earlier. The social network’s stock had dropped 39 percent this year through Friday as investors questioned whether ...

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  • 14 June

    Goldfajn pledges to hit Brazil inflation target, names board

      Bloomberg Brazil’s new central bank president IlanGoldfajn pledged to hit the center of the inflation target, while nominating members to his board that include a banker from the private sector. “The objective is to fully meet the inflation target established by the National Monetary Council, looking at its center,” said Goldfajn, 50, during a ceremony to mark his taking ...

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