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  • Editor’s Picks / 1 hour ago

    Warren Buffet expands Down Under

    Warren Buffett’s Berkshire Hathaway is adding an office in New Zealand and expanding its operations in Australia as part of a push to sell more commercial insurance globally, writes Bloomberg. The specialty insurance unit is underwriting property and casualty coverage through a new office in Auckland. Berkshire also announced it will sell policies to hospitals and medical practices in Australia.
    Read article on Bloomberg
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  • Article / 2 hours ago

    Today's Trade: Investors cautious on Grexit fears

    Trading Desk / Saxo Capital Markets
    Today's Trade: Investors cautious on Grexit fears
    Trading is expected to be volatile in local markets as it's the end of the financial year today as well as the end of the month and quarter. Greece and China will also be key elements. Overseas markets were slammed overnight on Greek concerns and it is expected Greece will default on its EUR 1.55 billion payment due tonight. The AUDUSD is likely to trade below the resistance level of 0.7700 with the support levels at 0.7642 and 0.7600.
    Read the article
  • Editor’s Picks / Yesterday at 22:49 GMT

    Australia to avoid Greek tragedy

    Sydney Morning Herald
    The outcome of this week's game of chicken between the Greek government and other European governments, Europe's central bank and the International Monetary Fund won't have a significant impact on the Australian economy, writes Elizabeth Knight. Australia's trade relationship with Greece is tiny – some olives and a bit of tourism. Greece makes up about 2% of the European economy and 0.3% of the world economy. Australian private holdings of Greek government bonds is also almost non-existent. Thus it won't really affect our financial system. Treasurer Joe Hockey believes Australia is "well placed" for a Greek exit from the Eurozone.
    Read article on Sydney Morning Herald
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  • Article / Yesterday at 15:15 GMT

    What happens after the Grexit and what to watch out for

    Blogger / MoreLiver's Daily
    In my third article on Greece, I outline what will be next on the agenda. Losses from Greece will have to be handled somehow, and the European Central Bank will do what is expected from it - but nothing more, and nothing less. The key will be how the European institutions handle the country-specific economic control - too much or too little, someone will become alienated.
    Read the article
  • Article / Yesterday at 11:00 GMT

    US housing builds momentum

    Managing Partner / Spotlight Group
    United Kingdom
    US housing builds momentum
    I received a set of questions from a client regarding the underlying strength of the US housing market. With their permission I have chosen to share my opinion on TradingFloor.
    Read the article
  • Editor’s Picks / Yesterday at 10:46 GMT

    Shanghai index swerves central bank move

    People's Bank of China governor Zhou Xiaochua is clearly a keen disciple of Alan Greenspan and Ben Bernanke if this weekend's move to bolster the country's beleaguered stock is anything to go by, says Ansuya Harjani. However, if the cuts in the benchmark one-year lending and deposit rates by 25 bps to 4.85% and 2% respectively were meant to stem the flow of money out of the Shanghai Composite index and calm markets, it did not work as the index fell yet again during the Asia session to take the current correction to near 20% since the June 12 peak. With each successive intervention, it appears the bank's hopes for stability are becoming more and more desperate.
    Read article on CNBC
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  • Squawk / Yesterday at 9:29 GMT
    Head of Macro Strategy / Saxo Bank
    Economic confidence ticks lower in the euro area:

    The Greek situation with its referendum and bank holidays continue to dominate headlines, and as such it is no surprise to see a slight drop in the overall euro area economic confidence in June. The main index fell to 103.5 this month vs. 103.8 expected and prior led by an industrial confidence drop to -3.4 from -3. Confidence among businesses in the services sector was unchanged at 7.9 (8 expected).

    Among the "big 4" in the euro area Spain continues to have the strongest confidence in its economy, but it has lost some momentum recently and fell 2 points to 108.4 in June. German confidence was unchanged at 105 while French confidence eased lower to 98.5. Italian confidence climbed 0.8 points to 106.5.

    Despite headlines about Greece the broader euro area is seeing a cyclical upswing helped by a low euro and cheap oil. Growth is projected to hit at least 1.5% this year from 0.8% in 2014.
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  • 14h
    Michael O'Neill Michael O'Neill
    You are so right, Clare. It's like hiding in an ammunition dump to escape a fire.
    Simon Kjaer Simon Kjaer
    If not for the severity of the situation, I would have chuckled at your metaphor, Michael.
    Martin O'Rourke Martin O'Rourke
    European markets are taking a bit of a hammering today, something one of our London-based contributors, Adam Seagrave pointed to in From the Floor this morning. Euro...