The European Central Bank was unsparing as it noted developing downside risks to the eurozone's economy, but it kept rates steady at its meeting Thursday. Bank President Mario Draghi noted Brexit's risk and slowing growth in emerging markets, and he signalled that the ECB will use stimulus if needed.
A selloff hit stocks and bonds trading on Turkey's financial markets after President Recep Tayyip Erdogan announced a three-month state of emergency in response to a failed attempt to overthrow his government. S&P Global Ratings downgraded Turkey's credit rating to BB, two notches below investment grade, with a negative outlook, and investors worry that further ratings cuts are on the way.
French President Francois Hollande told new British Prime Minister Theresa May that if the UK refuses to accept unlimited immigration from within the EU, it must give up access to the single EU market. "There can be no free movement of goods, free movement of capital, free movement of services if there is no free movement of people," he said at a news conference with May in Paris.
Following periods of declining sales, American Girl has launched its first new line of dolls in more than 10 years, a less-expensive collection of smaller dolls dubbed WellieWishers. In addition to boosting sales, the new toys are designed to win over girls a few years younger than the brand's typical target audience.
The speech that venture capitalist and PayPal co-founder Peter Thiel delivered at the Republican National Convention drew a variety of responses on Twitter from the tech industry. Some questioned his views; others applauded him.
Treasury Secretary Jack Lew has made a speech to mark the sixth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Regulators have implemented a great deal of the law, but the Securities and Exchange Commission has fallen behind, write public-policy analysts Andy Green and Tyler Gellasch.
After struggling through a long slump, the US housing market is picking up momentum. The National Association of Realtors said that last month's sales of previously owned homes rose to their highest level since 2007.
Experts say automatically signing up employees to workplace retirement plans, such as 401(k) accounts, would go a long way toward dealing with America's retirement-savings shortfall, but most employers are shying away from it. A Society for Human Resource Management survey found that less than 40% of employers automatically enroll new workers.
Strategy Shares has filed with the Securities and Exchange Commission for an exchange-traded fund intended to benefit from share prices that spike because traders are caught in a "short squeeze." The Active Alts Contrarian ETF will be actively managed by subadviser Active Alts.
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