Global stocks mostly rose Thursday as Britain's central bank hinted at fresh monetary stimulus to limit the impact of the country's vote to quit the EU. Bourses in London, Paris and Frankfurt all rose after Bank of England chief Mark Carney said more stimulus would likely be needed to counter a Brexit-induced slowdown of the British economy. Analysts said Wall Street investors have increasing confidence the United States will not feel significant effects from Brexit, even as the resulting political uncertainty in Europe drags on growth in Britain and the European Union.
By Carolyn Cohn LONDON (Reuters) - A Goldman Sachs executive's alleged arranging of prostitutes for himself and the brother of a decision-maker at Libya's sovereign wealth fund was completely unacceptable behaviour for an employee of the bank, the first witness called by Goldman told a court on Thursday. In a trial at London's High Court, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion (906.34 million pounds) from the Wall Street investment bank from nine disputed trades carried out in 2008. Goldman Sachs denies the allegations and says the trades in question "were not difficult to understand".
Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer.
In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. "We?re reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
Quote of the Day
To be successful, the first thing to do is fall in love with your work. - Sister MaryLauretta
noun: 1. A reddish brown color. 2. A brown pigment originally made from the cuttlefish ink. 3. A drawing made with this pigment. 4. A monochrome photograph in this color. adjective: Of a reddish-brown color.