Tuesday, July 11, 2017

Today's Headlines

  • Theresa May’s ‘Reset’ for U.K. Government Comes Off the Rails. (video) U.K. Prime Minister Theresa May attempted a “reset” for her government after last month’s election losses, but the bid was undermined by confusion over Brexit policy and a health scandal dating back decades. In a speech Tuesday at the launch of a review of working practices, the premier reached out to other parties, urging them to work with her to ensure British workers are given fair pay and conditions, saying “big decisions” need to be made so Britain emerges from Brexit “stronger and better.”
  • Copper Buildup Chatter Conceals Looming Deficit, Top Miner Says. A surge in copper stockpiles isn’t sounding any alarm bells with the world’s biggest producer as supply struggles to match demand. After tumbling to a four-month low in June, global warehouse inventories have jumped about 15 percent this month, spurring concern that demand for the metal used in wiring and plumbing is waning. Prices have retreated in July.
  • Asset Management Revenue Falls in 2016 for First Time Since 2008. For the first year since the 2008 financial crisis, revenue earned by asset management firms globally fell in 2016 along with profits, according to a report Tuesday by Boston Consulting Group. While assets under management increased 7 percent to $69 trillion, most of that growth came from rising markets while net new money from investors was little changed from recent years. 

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