International News
With US set to reimpose sanctions, EU cuts Iranian oil imports
European refiners, worried about the US sanctions on Iran which are set to be more severe than those imposed in 2012, are cutting their imports of Iranian oil.
US consumer sentiment hit by concerns about impact of tariffs
US consumer sentiment improved less than initially estimated in June amid concerns about the impact of a trade war, according to a final reading from the University of Michigan.
Chicago PMI hits highest level since January
Economic activity in the Chicago area unexpectedly improved in June, according to figures released on Friday.
EU leaders agree on outline of immigration deal
EU leaders have managed to agree on an outline of an immigration deal after a 10 hour session of talks.
EU leaders call for more urgency in Brexit talks
The European Union has warned of the continuing possibility of a no-deal Brexit after a meeting between the bloc's leaders in Brussels highlighted the "serious divergence" with Britain.
Trump dreams of WTO exit, but Mnuchin denies it
President Donald Trump has repeatedly insisted to his staff that he wants the US to withdraw from the World Trade Organisation, according to to reports that were later denied.
US pre-open: Banks in focus as stocks set to rise
Stocks on Wall Street were set to open higher on Friday, with banks in focus after most of the 35 US institutions passed the Federal Reserve's annual stress tests.
Deutsche Bank fails Fed's annual stress test
The Federal Reserve concluded its annual stress tests this week and has confirmed that Deutsche Bank would not overcome a new financial crisis, while also blocking Goldman Sachs, Morgan Stanley and JP Morgan Chase from increasing dividends and stock buybacks this year.
Tobacco companies lose WTO ruling on plain packaging
Australia has won a landmark World Trade Organisation ruling to require cigarettes to be sold in plain packs without any striking logos or fonts, which could bring a new wave of tobacco restrictions around the world.