These are the salient financial and corporate news.
Provisional figures for Malta’s external transactions show that during January-March 2019, the current account balance recorded a surplus of €48.9 million as compared to a surplus of €296.3 million in the comparable quarter of 2018. – NSO
Brussels will this week hold off on launching a disciplinary process against Italy’s rising debt levels, buying time for Rome’s populist government to reach a deal and avoid being hit with budget sanctions. – Financial Times
Bitcoin tested 15-month highs on Monday after jumping more than 10% over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin.- Reuters
German business morale deteriorated for the third month in a row in June, a survey showed on Monday, adding weight to expectations that Europe’s largest economy contracted in the second quarter. – CNBC
US regulators have asked senior executives at Deutsche Bank to explain their “bad bank” proposals, seeking to address concerns about the potentially significant impact on the lender’s operations in the country. – Financial Times
Oil prices rose on Monday, extending large gains last week that were prompted by tensions between Iran and the United States, as Washington was set to announce new sanctions on Tehran. – Reuters
OPEC readies for ‘critical’ meeting on July 1st and 2nd and a decision on oil output cuts. – Market Watch
European stocks stumbled and the dollar dropped to three-month lows on Monday as hopes waned for progress in Sino-U.S. trade talks at this week’s G20 meeting and fears grew of a confrontation with Iran. – Reuters
Automaker Daimler said that profits for the second quarter will be hit by troubles with diesel vehicles from its Mercedes-Benz brand and downgraded its earnings forecast for the full year. – Market Watch
The Reserve Bank of India suffered another blow to its credibility on Monday, as deputy governor Viral Acharya, a fierce and vocal advocate of central bank independence, resigned. – Financial Times
Carrefour SA said that it sold a controlling stake in its China operations to Chinese retail company Suning.com. – Market Watch
Walt Disney Co.’s “Toy Story 4,” opened to a healthy $118 million in the U.S. and Canada, leading the weekend’s domestic box office. – Market Watch
Ci Consulta Advisory
