Global stocks gain as Brexit nerves settle

A man is reflected in a stock quotation board outside a brokerage in TokyoEuropean and Asian stock markets built on a recovery from the shattering aftermath of last week's Brexit vote on Wednesday as investors wagered central banks would ultimately ride to the rescue with more stimulus. UK and European banks, a center of concern since Britain shocked global financial markets on Friday by voting to leave the European Union, were broadly higher, extending a recovery from two days of trading which knocked almost 40 percent off Barclays and RBS. Stock markets in Frankfurt, Paris and London all gained more than 1.5 percent in early deals while the pan-European index of major banks was up 3 percent.


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Mongolians vote for new parliament with economy on the rocks

Mongolian President Tsakhiagiin Elbegdorj and his wife Bolormaa Khajidsuren attend voting for the parliamentary elections at a polling station in UlaanbaatarBy Terrence Edwards ULAANBAATAR (Reuters) - Mongolians voted on Wednesday for a new parliament, with slowing growth topping the list of concerns for many, while the main opposition party promised to rein in spending and the ruling party looks to diversify a resource-reliant economy. With just three million people, the remote country best known as the birthplace of Mongol emperor Genghis Khan has stood as an oasis of democracy, surrounded by single-party dominated regimes. Mongolia's political transformation since a peaceful revolution in 1990 has been a big draw for foreign investors eyeing its rich mineral resources, unleashing a boom from 2010 to 2012.


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Trump breaks with party on trade as he threatens tariffs

Republican presidential candidate Donald Trump speaks during a campaign stop, Tuesday, June 28, 2016, at Alumisource, a metals recycling facility in Monessen, Pa. (AP Photo/Keith Srakocic)MONESSEN, Pa. (AP) — Republican Donald Trump vowed to tear up the nation's trade deals, threatened new tariffs and called for a new era of economic "Americanism" in a speech that underscored just how far removed he is from typical GOP orthodoxy.


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German consumer morale shrugs off Brexit fears: survey

Posters reading "Farewell" and books "The EU an Obituary" by John R Gillingham are on display at a book shop window in BerlinConsumer confidence in Germany is on the rise as households feel that robust domestic demand, rising wages and low inflation will keep Europe's biggest economy on a growth path, a poll found on Wednesday. "In contrast to the weather, German consumer sentiment is showing itself from its sunny side," market research company GfK said in a statement. "The favourable consumer climate is being driven mainly by the excellent domestic economic conditions, such as the high level of employment, very good income developments and the near absence of inflation," it said.


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North American leaders confront rising tide of protectionism

North American leaders confront rising tide of protectionismThe leaders of North America confront a rising tide of economic protectionism and nationalism as they hold a summit Wednesday in the Canadian capital. Canadian Prime Minister Justin Trudeau for the first ...


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Global turmoil, drought and fish deaths slow Vietnam economy

Tonnes of dead fish and other marine life began washing up on central Vietnamese shores two months ago and continued to appear for two to three weeksVietnam's economy slowed in the first half of 2016, official figures showed Wednesday, with a severe regional drought and a spate of fish deaths adding to losses caused by turmoil in global markets. "Less active global trade and investment... and unpredictable upheavals in the world financial and monetary markets have badly influenced our economy," the General Statistics Office (GSO) said in a statement Wednesday. Domestic production was also hammered by the region's worst drought in decades, which slammed Vietnamese rice and coffee farmers and cost the country $681 million, according to the GSO.


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