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Asia shares edge higher, sterling slugged by UK politics

Asian share markets crept higher on Monday following favorable U.S. jobs data, while sterling slipped after two members of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt. The pound peeled off around a third of a U.S. cent to $1.3292 (GBP=D3) in early trading as news broke British Brexit Secretary David Davis and Brexit Minister Steven Baker had resigned. The loss came just two days after a meeting at May’s Chequers country residence supposedly sealed a cabinet deal on Brexit and underlines the deep divisions in her ruling Conservative …read more […]

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China Needs to Resist Temptation of Traditional Retaliation, Sheard Says

Jul.08 — Paul Sheard, former vice chairman of S&P Global, talks about David Davis’ resignation as Brexit Secretary, the trade spat between the U.S. and China, and Federal Reserve policy. He speaks with Ramy Inocencio, Kathleen Hays and Haidi Lun on “Bloomberg Daybreak: Australia.” …read more […]