1. Hundreds of Mexicans living in California drove for hours on Sunday to vote south of the border for Andres Manuel Lopez Obrador as president. They were persuaded by his pledges to stand up to US President Donald Trump and end graft and violence at home.
2. Business confidence among Japan’s big manufacturers worsened for a second straight quarter in the three months to June. The outlook is clouded by US trade protectionism and rising input costs.
3. The euro slipped back in early Monday trade after German Chancellor Angela Merkel was dealt a fresh blow when her interior minister offered to quit in an escalating row over migration policy. Interior Minister Horst Seehofer, who has called for tougher border controls, said he was ready to step down as minister and as chair of his Christian Social Union (CSU), junior coalition partner in Merkel’s government.
4. A record 75% of major British companies are now pessimistic about Brexit, a survey showed on Monday, adding to signs of anxiety around the economy as Britain’s divorce with the European Union draws near.Weak investment and waning expectations for sales marked Deloitte’s latest quarterly survey of chief financial officers (CFOs), watched by the Bank of England as a gauge of business confidence.
5. Hyundai Motor cautioned the US administration that imposing up to tariffs on iSouth Korea would hurt a security alliance between the two countries. The tariffs would hike production costs at Hyundai’s US factory by about 10%.
6. Dell Inc. is nearing a deal to buy out the holders of shares that track the performance of VMWare Inc using a mix of cash and equity inDell.The move will mark the culmination of a strategic review that Dell has been conducting for several months.
7. Oil prices fell early on Monday, following comments from the White House that the leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed.U.S. West Texas Intermediate crude for August delivery was down 65 cents, or 0.9%, at $US73.50 a barrel by 2250 GMT.
8. London-based investment firm Centricus has partnered with Chinese firms China Merchants Group and SPF Group to launch a 100 billion Chinese yuan ($US15.11 billion) fund to invest in technology companies. The fund will be used to invest in and buy technology companies predominantly in China but also globally, the companies said.
9. Billionaire investor Daniel Loeb on Sunday urged Nestle to split itself into three divisions, telling the Swiss group’s board that it needs to be “sharper,” “bolder,” and “faster” in overhauling the company. Loeb, whose hedge fund Third Point has invested more than $US3 billion in Nestle, said in a letter to the board that the company should divide itself internally into three units – beverages, nutrition and grocery in order to help “simplify its overly complex organizational structure.”
10.Thousands of Russians protested on Sunday over a government decision to increase the retirement age.Sunday’s protests were led by supporters of Alexei Navalny, the most prominent Kremlin critic.
Business Insider Emails & Alerts
Site highlights each day to your inbox.