Good morning! Here’s what you need to know on Tuesday.
2. The pound got crushed on Monday amid uncertainty about what would happen if the UK were to leave the EU. David Cameron has set June 23 as the date for a referendum on whether Britain should remain in the European Union.
3. In a letter to high school students billionaire Microsoft founder Bill Gates said the world needs an “energy miracle” to stop climate change. The letter was published on behalf of the Bill and Melinda Gates Foundation.
4. The Pentagon is expected to submit to Congress on Tuesday President Barack Obama’s long-awaited plan for closing the US military prison at Guantanamo Bay,setting up a battle with lawmakers who oppose his efforts.
5. Deutsche Bank is cutting 75 jobs in its global markets division, split between London and New York. The cuts are in the bank’s fixed-income trading unit, which deals with products such as bonds and interest-rate swaps.
6. Oil prices dipped slightly in early trading on Tuesday after posting strong gains the previous session on the back of an expected drop in US production, but which analysts expect to be countered by rising output from Iran.
8. Australian mining giant BHP posted a massive half year loss of $5.669 billion, the big miner’s first in 16 years and more than halved its dividend.Revenue was down 37% to $15.71 billion as falling commodity prices continue to cut into the business.
10. Donald Trump said that he’d like to punch a protester in the face and lamented that he wasn’t in the “old days” during which such people would be “carried out on a stretcher.” He made the comments during a campaign rally in Las Vegas on Monday.
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