MARKETS: #Oil futures drop 5%, biggest drop since February, on #Brexit anxiety – Reuters – @AceFinanceNew

#AceFinanceNews – July.05: #Oil futures drop 5%, biggest drop since February, on #Brexit anxiety – Reuters

http://reut.rs/29g91m8

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MARKETS: US stocks dip after benchmark 10-year Treasury yield hits record low; Dow drops about 110 – CNBC – @AceFinanceNews

#AceFinanceNews – July.05: US stocks dip after benchmark 10-year Treasury yield hits record low; Dow drops about 110 – CNBC –

http://cnb.cx/29gmAly

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MARKETS: US-listed shares of UBS drop 5% after the company was ordered by tax authorities in Switzerland to provide France with tax information – CNBC – @AceFinanceNews

#AceFinanceNews – July.05: US-listed shares of UBS drop 5% after the company was ordered by tax authorities in Switzerland to provide France with tax information – CNBC

http://cnb.cx/29fX7J7

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#IPO Foxconn, which assembles most of Apple’s iPhones, files for an initial public offering of its cable and connector unit that could raise up to $1 billion – Wall Street journal – @AceFinanceNews

#AceFinanceNews – July.05: Foxconn, which assembles most of Apple’s iPhones, files for an initial public offering of its cable and connector unit that could raise up to $1 billion – Wall Street journal

http://on.wsj.com/29n5TlS

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MARKETS: British sterling sinks to its lowest value against the US dollar in 31 years, trading at $1.3117 – Evening Standard – @AceFinanceNews

#AceFinanceNews – July.05: British sterling sinks to its lowest value against the US dollar in 31 years, trading at $1.3117 – Evening Standard

http://bit.ly/29n1YWp

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BRITAIN: M&G Investments has stopped investors from pulling money out of a UK property fund, the 3rd big asset manager to suspend a fund after the Brexit vote – Wall Street Journal – @AceFinanceNews

#AceFinanceNews – July.05: M&G Investments has stopped investors from pulling money out of a UK property fund, the 3rd big asset manager to suspend a fund after the Brexit vote – Wall Street Journal

http://on.wsj.com/29fYOG6

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BRITAIN: Other UK property funds likely to follow Aviva and Standard Life’s lead in refusing to allow customers to take money out, says Emma Bewley, head of funds at Connection Capital – Guardian – @AceFinanceNews

#AceFinanceNews – July.05: Other UK property funds likely to follow Aviva and Standard Life’s lead in refusing to allow customers to take money out, says Emma Bewley, head of funds at Connection Capital – Guardian

http://bit.ly/29n2MLY

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LONDON: As bosses of British banks meet behind 10, Downing Street door Mark Carney says Britain’s financial sector is in a better shape than before the financial crisis doesn’t really say a lot for the state of finances before #Brexit – @AceFinanceNews

#AceFinanceNews – July.05: Bosses of leading banks are meeting at Downing Street, London, today to discuss referendum result – Guardian

Mark Carney says Britain’s financial sector is in a better shape than before the financial crisis; the core of the system is very strong, there may be some volatility but the system is going to be there for someone who wants to buy a house, or a business person with a viable plan – Guardian

http://bit.ly/29n2MLY

Governor of the Bank of England Mark Carney has given a press conference on the bank’s financial stability following Britain’s vote to leave the EU. He has said that the Bank of England has the staff capacity to cope if Article 50 is triggered and that until that happens, the financial rules do not change. 

Carney also stated that the drop in the pound sterling could help with Britain’s current account deficit .. 

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BRITAIN: #Brexit vote will kill the idea of austerity as eventually many instead of the few will be in the same boat and have less then who will bleat about leaving the EU – @AceFinanceNews

#AceFinanceNews – July.05: The Brexit vote will kill austerity

George Osborne’s disastrous experiment brought about the EU referendum vote – now the economy needs stimulus

The pound has collapsed to a 30-year low and the share prices of banks, estate agents and homebuilders are down sharply amid recession fears since the Brexit vote. A big house price drop seems inevitable, especially in London. The UK’s holdings in RBS alone are down by a third in a week; 9.1bn shares have dropped in value by about 80p a share, so that is a loss of more than £7bn. Add to that a drop of 17p in the value of the 15bn shares in Lloyds Bank the country owns, and, as a starter, Michael Gove, Boris Johnson and the leavers have already cost the country more than £10bn in losses….

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BRITAIN: Aviva investors suspend trading in their £1.8billion property fund – Reuters – It’s alrigh t when you paid it in but now you want it back it’s a different story they hold on it – @AceFinanceNews

#AceFinanceNews – July.05: Aviva investors suspend trading in their £1.8billion property fund as investors struggle to retrieve money from UK properly market following Brexit vote – Reuters

http://bit.ly/29nivLk

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