Monday, July 10, 2017

Today's Headlines

  • U.K. Says EU Court May Hold Sway for ‘Limited’ Transition. The European Court of Justice may be able to make rulings that apply to the U.K. for a “limited” interim period after Britain’s withdrawal from the European Union, Prime Minister Theresa May’s spokesman said in yet another sign of the government’s softening of the country’s stance on Brexit. “He said the transition rules could involve the ECJ for a limited time, but obviously that’s all a matter for negotiation," the spokesman, James Slack, told reporters in London, referring to earlier remarks by May’s deputy, Damian Green, in a BBC radio interview.
  • ECB Patience Endures as Villeroy Awaits Change of Season. (video) European Central Bank policy makers aren’t showing much of a rush to start tweaking their monetary policy as they count the days until their summer holidays. The Governing Council is likely to decide on the next change in its stimulus settings in the fall, according to comments on Saturday from Francois Villeroy de Galhau, the Bank of France governor. ECB Chief Economist Peter Praet, speaking in a newspaper interview released the same day, insisted that “we still need a long period of accommodative policy.”
  • Merger Monday Arrives in Asia With $19 Billion Flurry of Deals. (video) Asian companies announced about $19 billion of transactions in less than 24 hours, making this the busiest start to a week for the region’s dealmaking in nearly a year, according to data compiled by Bloomberg. The day was led by billionaire Sun Hongbin, who sealed China’s biggest-ever property acquisition on Monday, rounded out by a deal to create the biggest shipping company plying the Pacific Ocean trade routes.
Wall Street Journal:

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