Good morning! Here's what you need to know on Monday.
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10 things you need to know in markets today
Here's what you need to know on Monday.
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3. Theresa May is preparing to surrender over her promise to leave the Customs Union with senior advisers to the prime minister telling the Sunday Times that she is now willing to live with a Commons defeat on the issue.May and her team "will not be crying into our beer" if they are forced to stay in a customs union, according to the report.
4. China opposes all forms of protectionism and will firmly safeguard the world's multilateral trading system, its commerce minister wrote on Monday in the ruling Communist Party's official newspaper.China will quicken the pace of reform and implement its pledge to opening up banks, securities and insurance, besides easing foreign ownership limits on autos, ships and aircraft, the minister, Zhong Shan, wrote in the People's Daily.
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5. One of Deutsche Bank's biggest shareholders, Chinese conglomerate HNA has cut its stake in the bank to 7.9%, according to a U.S. regulatory filing.HNA, the aviation-to-financial services conglomerate, has been selling overseas real estate and some of its biggest financial and strategic investments following a $50 billion acquisition spree over the past two years.
7. Iran's central bank has banned the country's banks from dealing in cryptocurrencies, including Bitcoin, over money-laundering concerns, the state news agency IRNA reported on Sunday as the country tries to halt a currency crisis."Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them," IRNA said.
9. Circle Trade, the trading operation of Circle, has increased its minimum ticket size on bitcoin trades to $500,000 from $250,000.The move comes during a trading lull in the market for digital currencies across crypto exchange venues.
10. Voter support for Japanese Prime Minister Shinzo Abe, battered by accusations of cronyism and other government missteps, slipped in three newspaper surveys published on Monday, as opposition parties demanded that his finance minister resign.Abe's ratings fell three points to 30% in a poll by the Mainichi newspaper.
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