The ECB buys bonds to stimulate tame growth with corporate spending. However, companies aren’t spending, because they see few opportunities. Corporate savings in the eurozone hit their highest level in at least 22 years in the year to June 2016, according to J.P. Morgan Chase. Source: WSJ
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George Soros, the billionaire who earned fame by betting against the pound in 1992, said Britain was approaching a tipping point that would see the economy slow to such an extent that Brexit might even be reversed. Source Reuters
Germany’s Thyssenkrupp (TKAG.DE) said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of improvement. Source Reuters
The migration policies of the political and other elites of Europe suggest that they are suicidal. The interesting thing to watch in the years ahead will be whether the publics join them in that pact. I wouldn’t bet on it. Source The Wall Street Journal