- After ‘Brexit’ Vote, Europe’s Leaders Debate Timing of U.K.’s Departure (WSJ)
- Pound Slumps, Banks Tumble on Brexit Fallout; Bonds Extend Gains (BBG)
- To Brexit or Regrexit? A dis-United Kingdom ponders turmoil of EU divorce (Reuters)
- ‘Brexit’ Sparks Political Turmoil Across U.K. (WSJ)
- 10 ways to leave EU lover; scenarios for Brexit (Reuters)
- The $100 Trillion Bond Market’s Got Bigger Concerns Than Brexit (BBG)
- Lagarde Says Brexit Impact Hangs on Policy Makers’ Next Move (BBG)
- China central bank says will keep implementing prudent monetary policy (Reuters)
- Japan PM Abe instructs finmin to take FX steps as needed (Euronews)
- Britain can cope with EU exit turmoil, finance chief says (Reuters)
- NYC’s Waldorf Astoria Said to Close in ’17 for Condo Rebuild (BBG)
- Hillary Clinton Holds 5-Point Lead Over Donald Trump, Latest Poll Finds (WSJ)
- Merkel wants calm approach to Brexit, spokesman says (Reuters)
- Billionaire Soros Was ‘Long’ on Pound Before Vote on Brexit (BBG)
- Jim Rogers Picks Dollar Over Gold as Haven in Brexit Tumult (BBG)
- Big London Bets Tilted Bookmakers’ ‘Brexit’ Odds (WSJ)
- Israel and Turkey to Restore Full Diplomatic Ties (WSJ)
- U.S. Supreme Court poised to issue major abortion ruling (Reuters)
- Sanders press secretary leaves campaign (Hill)
- NFL Revenue Reaches $7.1 Billion Based on Green Bay Report (BBG)
- Mayor asks for city authority to buy CPS debt (Chicago Post)
Overnight Media Digest
WSJ
X- Spanish Prime Minister Mariano Rajoy’s Popular Party did better than expected on its way to being the top vote-getter in national elections on Sunday, but Rajoy faces the same difficulty forming a government that he confronted after inconclusive elections last December. (http://on.wsj.com/293bnFG)
– Iraqi Prime Minister Haider al-Abadi said the country’s military wrested full control of Fallujah from Islamic State, paving the way for an offensive to reclaim Mosul, the last major city controlled by the extremist group in Iraq. (http://on.wsj.com/293bpx6)
– Nissan Motor Co’s South Korean unit has filed a lawsuit over the Korean government’s claims that the Japanese automaker rigged emissions tests on its Qashqai diesel sport-utility vehicles. (http://on.wsj.com/293bvVH)
– Pressure abated on the UK to serve swift notice of its intention to leave the European Union after last week’s referendum, as senior European policy makers suggested Britain should be allowed time to rethink the decision. (http://on.wsj.com/293bSzA)
– Amazon this week plans to announce it is adding dozens of new brands to its Dash buttons feature that enables shoppers to order consumer items by pressing a button. (http://on.wsj.com/28WqUmU)
FT
12 members of the opposition Labour party stepped down, and another 20 resignations are expected on Monday after Jeremy Corbyn sacked his shadow foreign secretary, Hilary Benn.
Spain’s acting prime minister, Mariano Rajoy, won Spain’s general election on Sunday after his People’s Party won 33 percent of the vote.
Intel Corp is considering options for its cyber security business, Intel Security, including potentially selling the unit.
NYT
– Some economists warn that the policies largely favoured by the banks could further alienate the public and increase the frustration that encouraged Britons to vote for leaving the European Union. (http://nyti.ms/28WPgjh)
– A sobering report released on Monday by the International Energy Agency says air pollution has become a major public health crisis leading to around 6.5 million deaths each year, with “many of its root causes and cures” found in the energy industry. (http://nyti.ms/291ea1D)
– Some private equity firms that came in as the cleanup crew for the housing crisis are now repeating errors that banks committed, while others are bypassing the working poor. (http://nyti.ms/28Xs4zW)
– Taking shape after months of negotiations is a broad settlement agreement, involving Volkswagen, the federal government and a half-million car owners are expected to exceed $10 billion. The deal, set to be announced on Tuesday, also expected to require Volkswagen to pay penalties. (http://nyti.ms/28YhCuB)
Canada
THE GLOBE AND MAIL
** Nigel Farage, the leader of the United Kingdom Independence Party, criticized Canadian Prime Minister Justin Trudeau for being out of touch in backing British Prime Minister David Cameron in his bid to keep Britain in the EU. (http://bit.ly/28WURC9)
** The economic burden of lung cancer and mesothelioma from work-related asbestos exposure in Canada amounts to an average of $818,000 per case, according to a team led by health economist and senior scientist Dr. Emile Tompa at the Institute for Work & Health, a research organization. (http://bit.ly/297V5sr)
NATIONAL POST
** A note distributed to clients Friday by Scotia Capital analyst Sumit Malhotra says insurance company Great-West Lifeco , Royal Bank of Canada, and broker-dealer Canaccord Genuity Group have the most direct exposure to the impact of the United Kingdom’s vote in favor of pulling out of the European Union. (http://bit.ly/28YK4ga)
** Members of the Green Party are deciding whether to add boycott, divestment and sanctions against Israel to a list of official party policies. Party members are also voting on a resolution that would insist on revoking charitable status from the Jewish National Fund of Canada, which develops land in Israel. (http://bit.ly/28WXy6z)
Britain
The Times
Nine members of the shadow cabinet have resigned in a show of open revolt against Britain’s opposition Labour leader Jeremy Corbyn following the dramatic sacking of Hilary Benn, the shadow foreign secretary. (http://bit.ly/28UKOww)
The Bank of England is set to slash interest rates and even restart its money-printing programme to stimulate a slowing economy after the vote for Brexit. (http://bit.ly/28TASTW)
The Guardian
Michael Sherwood, the vice-chairman of Goldman Sachs, will appear before a parliamentary committee on Wednesday to answer questions about his ties with Philip Green as MPs deepen their investigation into the collapse of BHS.(http://bit.ly/2901XIZ)
Indian company Tata Steel is close to a deal to save its Port Talbot plant despite Britain’s vote to leave the EU, as sterling’s slump potentially boosts the industry’s survival prospects. (http://bit.ly/29ch9kg)
The Telegraph
Chancellor of the Exchequer George Osborne is on Monday expected to lay out a series of new measures to “protect the national interest” in the coming months, as the Treasury seeks to avert another day of economic chaos following the result of the European Union referendum. (http://bit.ly/29dD5vl)
Meurig Raymond, president of the National Farmers’ Union, called for a new “British agricultural policy” with “guarantees that the support given to our farmers is equal to that given to farmers in the EU, who will still be our principal competitors”. (http://bit.ly/28ZpV7T)
Sky News
The head of Britain’s biggest employers’ group Carolyn Fairbairn will this week demand new safeguards for EU workers living in the UK following the country’s decision to quit the European Union. (http://bit.ly/28W3eSz)
Ratings agency Moody’s has changed the UK’s sovereign rating from “stable” to “negative” due to the uncertainty unleashed by the result of the EU referendum. (http://bit.ly/28VYHv8)
The Independent
First Minister of Scotland Nicola Sturgeon has appeared to suggest the Scottish Parliament could effectively block the UK’s exit from the European Union. (http://ind.pn/28ZGDES)
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