Your daily dose of financial news - The Brief – 6.28.16

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Continuing Brexit coverage:

With the pound in freefall and markets going haywire, leaders on both sides of the Brexit debate in the UK signaled today that Britain hopes to stay in the EU marketplace, while some in Parliament suggested another vote or even sidestepping the nonbinding referendum – NYTimes

Andrew Ross Sorkin has jumped into the fray on the “so goes England [economically speaking], so goes the rest of Europe” side – NYTimes

Meanwhile, across the pond, the Dow dropped *only* 260, and the thought is that American markets are facing Brexit headwinds but perhaps not the brutal fallout that some are predictingNYTimes

Around the globe, though, central bankers are sweating the departure and its adverse effects on their efforts to stimulate growth even as their newly strong currencies (think yen and Swiss franc) are on the rise – WSJ

And everything else:

VW’s agreed to resolve claims stemming from its diesel emissions cheating scandal, paying up nearly $15 billion in what would be “one of the largest consumer class-action settlements ever in the United States” – NYTimes and Bloomberg

New SEC rules will require energy companies to report payments to governments for extracting oil, gas, and minerals. An earlier draft of the Dodd-Frank-mandated regs were tossed by a federal judge 3 years ago who found that Congress didn’t require companies to make that data public – WSJ

Williams is appealing the decision that would allow ETE to get out of its merger deal – Law360

The Ex-Im bank aims to address global threats to US businesses by helping to level the trade playing field.  Right now, the bank is dealing with just one major threat—and it’s domestic – NYTimes

As if England didn’t have enough to worry about these days, its prized national football team was shocked by Euro Championship’s Cinderella team, Iceland, 2-1 yesterday—a loss so harsh it cost England’s manager his job. As we say here in the North . . . uff da – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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