Tuesday, June 28, 2016 - 13:47 US Senate Leader Opts For Hardball, Not Diplomacy, On PR Bill 0
--Senate Majority Leader Seeks To Avoid Amend Votes
--Senate Dems Say McConnell's Move Puts Pressure On GOP
WASHINGTON (MNI) - Opting for legislative hardball rather than diplomacy, Senate Majority Leader Mitch McConnell is pushing the Senate toward a critical procedural vote Wednesday on legislation to ease Puerto Rico's economic and financial crisis.
The House passed its Puerto Rico bill June 9 on a 297-to-127 vote, sending it to the Senate.
The House-passed bill would create a powerful seven-member federal oversight board that would oversee Puerto Rico's fiscal affairs and guide the island through a court...
Tuesday, June 28, 2016 - 12:24 Insight: UK Conservative Leadership Bids Due; EU Stance Cloudy 0
-Contenders For UK Conservative Leadership Have Varied, Opaque EU Views
LONDON (MNI) - Nominations for the leadership of the UK's ruling Conservative Party open on Wednesday and close at noon on Thursday, with likely candidates' stances over the nation's future relationship with the European Union cloudy.
Out of ten individuals cited in media reports as potential leaders, five voted for Remain in the June 23 referendum and five for Leave, with some of the 'Leavers' sketching out varying views on what the UK should aim for in future negotiations with the EU.
Of the leading leadership candidates former London mayor Boris Johnson and Justice Minister...
Tuesday, June 28, 2016 - 12:18 S&P: See UK Pound Dropping Another 5% But No Recession 0
--See ECB Further Into Negative Rates This Year
--See Eurozone Losing 0.5% GDP Next Year; UK Loses 1.2%
--Fitch: Direct Brexit Impact on US Limited
WASHINGTON (MNI) - Standard and Poor's chief economist for Europe said Tuesday the weakening of the pound has more to run before it stabilizes, but the UK escapes outright recession and no other country is now facing a ratings downgrade.
Saying more than 400 questions were submitted to S&P experts after Monday's two-notch downgrade of the UK to "AA," the ratings firm provided some answers in an Internet presentation that saw a UK economic...
Tuesday, June 28, 2016 - 09:51 US Senate Leader Sets Wednesday Vote For Puerto Rico Bill 0
--Senate Majority Leader Move Appears To Prevent Amends
--Senate To Vote on Military Construction Bill Tuesday
WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell has moved to set up a Wednesday vote on House-passed legislation to ease Puerto Rico's economic and financial crisis.
In a motion filed Monday evening, McConnell arranged a Senate vote to concur on the House's Puerto Rico bill, effectively blocking amendments to the legislation.
Since the House passed its Puerto Rico legislation on June 9th, Senate Democrats and Republicans have been quietly skirmishing over the Senate should take up the Puerto Rico...
Tuesday, June 28, 2016 - 05:47 BREXIT: Merkel: No Negotiations With UK Until A50 Notification 0
By Steven Arons
FRANKFURT (MNI) - Germany's Chancellor Angela Merkel vowed Tuesday that there would not be any kind of negotiations with the UK government until it had submitted its formal application to withdraw from the European Union under Article 50 of the EU treaty.
Speaking to the German Bundestag ahead of the EU Council meeting in Brussels later Tuesday, Merkel also urged the EU member states to display unity to prevent a further erosion of the European Union.
"We note that the UK is not yet willing to make a notification under Article 50 and the UK must note that there cannot be any kind of negotiations or pre-negotiations for as long as the application under Article 50 has not been filed," the chancellor said....
Tuesday, June 28, 2016 - 02:45 France Housing Starts, Building Permits Fall in May-Mar Period 0
By Jack Duffy
PARIS (MNI) - France's housing starts and building permits fell in the three months through May, while longer-term trends continued to point to increased construction activity this year.
Starts declined by 4.5% in the May-March period compared with the previous three months, while permits fell by 1.1%, the Ministry for Housing and Development said Tuesday.
For the 12 months through May, builders broke ground on 355,600 new homes, up 5.2% compared the previous 12 months, while building permits amounted to 402,900, a 9.9% increase, the ministry said.
After a multi-year slump, France's construction industry has been recovering, with record low interest rates spurring increased sales of new...