Tuesday, June 26

ByKevin Sheekey

Was Brexit Just a Big Short?

Nigel Farage, a former commodities broker, denies shorting the value of sterling on the night of the Brexit vote. But when the leave frontman “conceded” defeat on TV the night of the vote, he was privy to data that showed the opposite, paving the way for a collapse in sterling. Farage’s denial to yesterday’s report is so carefully worded that it practically demands Parliament or financial authorities investigate.

The Day Two stories are rolling in after Bloomberg’s blockbuster story, which the Financial Times calls a “must read.”

Nigel Farage Denies Shorting Value of Sterling on Night of Brexit Vote (The Guardian)

Call to Stop Hedge Funds from Profiting from Poll Data (The Times – UK)


Growing Chorus of Companies May Cut U.K. Investment: BMW Warns of U.K. Pullback if No Brexit Deal (Bloomberg)


Barron’s Names Mike Bloomberg Among 20 Most Influential People in Sustainable Finance
Barron’s cites Mike Bloomberg’s work chairing the Sustainability Accounting Standards Board (SASB) for four years and Bloomberg’s ESG metrics on the terminal in their list of the most influential people in ESG investing. Barron’s says the list includes people who are “outspoken [on ESG issues], at ease with institutions, and as comfortable confronting boardrooms as they are sitting in them.”


Among the Most Read on the Bloomberg Terminal: Chinese Stocks Enter Bear Market as Trade, Growth Risks Increase (Bloomberg)


Once a Trump Favorite, Harley-Davidson to Shift Motorbike Production Outside U.S. to Counter Tariffs (Bloomberg)

The news prompted this predictable Trump tweet: Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag. I fought hard for them and ultimately they will not pay tariffs selling into the E.U., which has hurt us badly on trade, down $151 Billion. Taxes just a Harley excuse – be patient! #MAGA




Headlines from around the world.

The Guardian: MPs back Heathrow third runway project as Boris Johnson faces criticism

TASS: Putin, Erdogan confirm mutual interest in expanding partnership ties

China Daily: China and the EU agree to oppose unilateralism and protectionism

Japan Times: North Korea says it will ignore Japan until Tokyo scraps military drills, other measures

I News: James Comey calls for stricter US gun controls as former FBI Director attacks NRA’s ‘lies’

Washington Post: Feud over civility in politics escalates amid Trump insults


Best of late night.

“White House Press Secretary Sarah Huckabee Sanders was asked to leave a restaurant in Virginia on Friday because she worked for the Trump administration. Which is weird, because usually people who work for the Trump administration are asked to leave the Trump administration.”
— Seth Meyers​

“As you may have heard, last night the president of the United States went after me on Twitter. So Melania, if you’re watching, I don’t think your anti-bullying campaign is working.”
— Jimmy Fallon

For more best of late night from The New York Times, click here.