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TOKYO (AP) — International stock markets were mostly higher today as investors were cheered by upbeat signs from Wall Street, a strengthening U.S. dollar and promises from the Group of 20 nations over the weekend to support global growth. Futures point to U.S. stocks drifting higher this morning. Benchmark U.S. crude oil fell below $44 a barrel. The dollar strengthened against the yen and the euro.
BERLIN (AP) — A closely watched index of German business optimism declined only slightly in July following Britain's vote to leave the European Union. The Ifo institute's business climate index published Monday sunk to 108.3 points from 108.7 in June. The index combines the views of business executives on how things are now and on how they see the coming months. Analysts had expected a sharper decline.
TOKYO (AP) — Japan posted a better-than-expected trade surplus in June, as imports fell nearly 19 percent, outpacing a more modest decline in exports. The customs data released today showed a 692.8 billion yen ($6.5 billion) surplus, compared with a 60.9 billion yen deficit in June 2015. Economists had forecast larger declines for both imports and exports for the world's third-largest economy.
LONDON (AP) — A new report says global mergers and acquisitions may drop by as much as $1.6 trillion over the next five years unless Britain quickly agrees to leave the European Union under terms that give it continued access to the single market. The law firm Baker & McKenzie reports that while the U.K.'s decision to leave the EU will reduce takeover activity under any scenario, a "disorderly" exit marked by difficult negotiations will result in increased political and economic uncertainty and a bigger decline in transactions.
WASHINGTON (AP) — Government numbers show that a safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense. The cost of Medicare's "catastrophic" prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015, according to the program's number-crunching Office of the Actuary.
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