Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Tracing the global market thread that could be unraveled by Brexit (Reuters) If Britons vote to take their country out of the European Union on June 23, no corner of the global financial market complex will emerge unscathed. The invisible thread that links assets as diverse as gold, bank stocks, the Japanese yen and government bonds would be yanked sharply by Brexit, an event the Bank of England said on Thursday risks "adverse spill-overs to the global economy". With global interest rates and bond yields the lowest on record, central banks running low on crisis-fighting tools and the post-2008 economic recovery flagging, that thread could quickly unravel, with serious consequences for all markets.
Democrats' new line on gun control: Do it for national security (Reuters) Democrats pushing for gun curbs after the latest mass shooting in the United States are co-opting a Republican mantra to build public support and defang opposition: it's time to get tough on national security. Shoring up national security has long been a pillar of Republican orthodoxy, as has staunch opposition to gun control. But the massacre of 49 people in Orlando, Florida, last Sunday, the deadliest mass shooting in modern U.S. history, by a gunman who pledged loyalty to Islamist militants may be leaving Republicans on shakier ground.
Trump accuses Jeb Bush of plotting against him and appears to slam Cruz (The Washington Post, MSN News) Donald Trump voiced annoyance Saturday at continued resistance to his presumptive presidential nomination from some Republicans as he accused former Florida governor Jeb Bush of trying to undermine his candidacy and appeared to take aim at Sen. Ted Cruz (R-Tex.). Trump said:
"We are going to beat Hillary. And it would be helpful if the Republicans could help us a little bit. You know? Okay? Just a little bit."
As VP, Warren would face potential loss of power (The Boston Globe, MSN News) Warren's detractors call it grandstanding. But her habit of needling, and sometimes flat out taking on, her own party when it veers toward the political center is what Warren's allies love about her. And it's exactly the trait they worry she'd have to give up if she abandons her perch as a senator and becomes Hillary Clinton's running mate.
Southern California wildfire spreads as blazes hit parched states (Reuters) A wildfire fed by parched land and high winds spread in Southern California on Saturday, prompting hundreds of people to evacuate their homes as the blaze formed destructive columns of flames known as fire tornadoes. The so-called Sherpa Fire in Santa Barbara County, about 90 miles (145 km) northwest of Los Angeles, had burned through about 7,811 acres (3,161 hectares) by Saturday evening, officials said. There is also a large fire southeast of Albuquerque, New Mexico, that has destroyed about two dozen homes and forced evacuations. For an area stretching from southern California to southern Nevada and into Arizona, the National Weather service has put out "red flag warnings," indicating conditions that could lead to dangerous fires. It has also issued a heat advisory for large parts of New Mexico, Texas and Oklahoma.
Colorado mother rescues son from mountain lion's mouth (BBC News) A woman in Colorado has saved her five-year-old son by prying open a mountain lion's mouth after the animal attacked the boy in their front yard, officials say. The mother heard screams and raced outside the house near Aspen, where she found the animal on top of her son, the Pitkin County Sheriff's Office said. The boy suffered face, head and neck injuries and was said to be in fair condition at a hospital in Denver. Officials later killed two lions. The unidentified woman said she grabbed one of the animal's paws and stuck her right hand in its mouth to pry it open and free her son's head, Pitkin County Sheriff's Deputy Michael Buglione said.
First Brexit Poll Since Jo Cox Killing Shows Remain in Lead (Bloomberg) The campaign to keep the U.K. in the European Union led in the first opinion poll fully conducted since Thursday's slaying of politician Jo Cox. Staying in the bloc won 45% support in the Survation telephone poll of 1,001 adults on Friday and Saturday for the Mail on Sunday, according to the Press Association. Leaving was endorsed by 42%. This is a reversal of the results by the same poll taken before the murder.
Rajan's successor to be named soon (The Hindu) The Union government will name the next Governor of the Reserve Bank of India shortly, Finance Minister Arun Jaitley said on Saturday, hours after Raghuram Rajan unexpectedly made public his intention of returning to academia after the end of his term in September.
With Rajan Undone by Indian Politics, Pressure Rises on Modi (Bloomberg) Raghuram Rajan will exit India's central bank after unnerving political leaders with calls for free speech and religious expression. The focus now shifts to whether Prime Minister Narendra Modi can find a successor able to command credibility both with investors and his Hindu-based party. The man who captured international attention with a prescient 2005 speech warning about a buildup of global financial risks on Saturday declared he'll leave the Reserve Bank of India at the end of his term in September. The outgoing governor apparently felt forced to leave and had made clear that he was ready to continue:
"I was open to seeing these developments through."
Thousands protest U.S. bases on Okinawa after Japan woman's murder (Reuters) Thousands of people gathered on the Japanese island of Okinawa on Sunday in one of the biggest demonstrations in two decades against U.S. military bases following the arrest of an American suspected of murdering a local woman. The protest marks a new low for the United States and Japanese Prime Minister Shinzo Abe in their relations with the island and threatens plans to have the U.S. Marines Futenma air station moved to a less populous part of the island. The United States and Japan agreed in 1996 to close the Futenma site, located in a residential urban area, after the rape of a 12-year-old Japanese schoolgirl by three U.S. military personnel spurred mass demonstrations against the American presence. That plan has been on hold since residents living near the proposed relocation site protested against the move, worried about noise, pollution and crime.
Brazil Attorney General: Tourism minister 'had Swiss bank account' (BBC News) Brazilian prosecutors have made a formal allegation of tax evasion and money laundering against former tourism minister Henrique Alves. Mr Alves resigned on Thursday after being linked to a corruption scheme. Brazil's Attorney General Rodrigo Janot presented evidence to the Supreme Court saying that Mr Alves had a secret bank account in Switzerland. He became the third cabinet minister to stand down since interim President Michel Temer came to power last month.
>>>>> Scroll down to view and make comments <<<<<<
Econintersect wants your comments,
data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.
Print this page or create a PDF file of this page
The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.
Take a look at what is going on inside of Econintersect.com