on Jul 14 2016 12:00 AM
  • PIT

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Money Talk: Politics dominates the headlines this morning. In the UK new Prime Minister Teresa May gets to work. George Osborne is replaced as Chancellor of the Exchequer by Philip Hammond. David Davis is appointed as minister in charge of the Brexit negotiations. Boris Johnson become foreign secretary. In Japan, Prime Minister Abe, fresh from his upper house election victory is preparing another economic stimulus package. In the US, the Fed's Beige book shows economic activity increasing at a modest pace in most regions. But the latest global trade alert shows the slowdown in global trade is much worse than previously thought. At the same time US President Barack Obama launches a formal complaint against China at the World Trade Organization accusing it of unfair trade practices.

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