Hammond Backs Carney Amid Countdown to Decision on BOE Job

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Source: Bloomberg MarketsU.K. Chancellor of the Exchequer Philip Hammond gave his backing to Mark Carney and said he’d welcome a decision by the Canadian to remain in his role as Bank of England governor.The governor has less than 90 days before a self-imposed year-end deadline to say whether he wants to serve a full eight-year term through 2021, or leave in 2018 as originally p … [Read more...]

Clinton-Trump 3.0, China’s GDP, ECB Rates: Week Ahead Oct. 17-22

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Source: Bloomberg MarketsU.S. presidential candidates Hillary Clinton and Donald Trump hold their final debate in Las Vegas. The moderator is Fox News Sunday anchor Chris Wallace, who will pose questions to each nominee. Follow the TOPLive blog for real-time coverage here.China will report on third-quarter GDP as investors watch to see whether the economy has … [Read more...]

Serbia’s Budget Gap May Come in at Half of Government’s Plan

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Source: Bloomberg MarketsImproved tax collection may help reduce Serbia’s 2016 budget deficit to half of the government’s plan, squeezing it to less than a third of the fiscal shortfall two years ago.With better-than-projected revenue through August, the Balkan country may finish the year with a shortfall of 2 percent of gross domestic product, not the 4 percent originally pla … [Read more...]

France’s LaCompagnie Shuts Premium U.K. Route on Brexit Concern

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Source: Bloomberg MarketsFrench business class-only airline LaCompagnie announced plans to halt flights between London and the New York area as a result of the U.K.’s vote to quit the European Union, just days after British Airways said it was reducing its own premium service between the cities.LaCompagnie will cease its four-times weekly operations between Luton, northwest of L … [Read more...]

UBS Sees Outflows From Emerging-Market Clients as Secrecy Erodes

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Source: Bloomberg MarketsUBS Group AG, the biggest wealth manager, sees more emerging-market outflows ahead as tax authorities step up scrutiny of wealthy clients.Net withdrawals from emerging-market clients amounted to 2.3 billion Swiss francs ($2.4 billion) in the second quarter -- much of it from Latin America, UBS said Friday. Outflows from the developing nations are … [Read more...]

Fed’s Williams Says Two Rate Increases Still Possible in 2016

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Source: Bloomberg MarketsFederal Reserve Bank of San Francisco President John Williams played down a “low” reading on second-quarter U.S. growth and said the economy could still warrant as many as two interest-rate increases this year -- or none.“There’s definitely a data stream that could come through in the next couple of months that I think would be supportive of two rate inc … [Read more...]

Xerox Rises After Earnings Beat as Company Prepares to Split

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Source: Bloomberg MarketsXerox Corp. rose Friday after second-quarter earnings beat analysts’ estimates and the company said it’s on track with efforts to split into two independent companies.“We made a great deal of progress on the company’s new path forward during the second quarter,” said Chief Executive Officer Ursula Burns on a conference call. “I am more confident than eve … [Read more...]

Consumer Sentiment Is Flashing a Warning Sign About the U.S. Economy

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Source: Bloomberg MarketsConsumer sentiment dropped in July from the previous month, but slightly more concerning data lurked below the headline of the report.A gap has widened between consumers' attitudes about the current economy versus their expectations, figures released on Friday showed. The spread between the two measures is now its widest since 2006.The gap has often been … [Read more...]

Zimbabwe War Veterans Official Charged With Insulting Mugabe

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Source: Bloomberg Markets A top official from Zimbabwe’s war veterans group was charged in a Harare court with “undermining or insulting the authority” of President Robert Mugabe.Douglas Mahiya, a spokesman for the Zimbabwe National Liberation War Veterans Association, appeared in court in the capital on Friday. Police in the southern African nation arrested officials from the m … [Read more...]

The New Consumer Survey Contains a Big Hint That Clinton Will Win the Election

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Source: Bloomberg MarketsA new question added to the University of Michigan's Survey of Consumers could turn out to be more accurate than ordinary opinion polls in predicting the outcome of the U.S. presidential election.In June and July, respondents to the monthly survey were asked who they expected to become the next president — rather than who they intended to vote for. The r … [Read more...]