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Brexit will hurt the City. Britain’s Chancellor said that the UK leaving the European Union will erase “tens of thousands” of jobs in the financial services industry.
Oil dipped. Oil prices dipped on Wednesday as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories put pressure on markets.
Barclays’ ex-CEO is starting up again. Antony Jenkins, the former CEO of Barclays, is preparing to launch his own financial technology venture, according to reports.
Hedge fund managers are doing alright. Hedge funds lost money for their investors last year but the industry’s top-paid managers had a banner year, with five men earning more than $1 billion each in 2015.
Greece doesn’t need any more austerity. Greek Prime Minister Alexis Tsipras told his cabinet on Tuesday that the Eurogroup confirmed that Greece’s key bailout review will be concluded without any further austerity measures, beyond what was agreed in August.
Electronic traders are being investigated. Federal authorities are investigating the market-making arms of Citadel LLC and KCG Holdings Inc, looking into the possibility that the two giants of electronic trading are giving small investors a poor deal when executing stock transactions on their behalf.
Brazil’s impeachment vote is back on. The acting speaker of Brazil’s Lower House of Congress early on Tuesday revoked his decision to annul the impeachment vote against President Dilma Rousseff.
Populism is rising in Italy. The anti-establishment 5-Star Movement has overtaken Prime Minister Matteo Renzi’s Democratic Party (PD) as Italy’s most popular party ahead of crucial local elections next month, according to the latest opinion poll.
Amazon founder Jeff Bezos made a lot of money. Bezos made $18 billion in three months as Amazon stock climbed from $482 a share to an all-time high of $703.07.
Uber is coming to Sao Paulo. The mayor of Sao Paulo, South America’s largest city, laid out regulations to allow the use of Uber in exchange for a mileage fee, triggering anger among taxi drivers who blocked major avenues.
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