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Jul 6, 2016

DealBook P.M. Edition - July 6, 2016: Fed Officials Saw Outlook as Cloudy at Meeting Before "Brexit"

The New York Times

Top Story
Janet Yellen, the Fed chairwoman, with Stanley Fischer, left, and Daniel Tarullo. Fed policy makers disagreed in June over how much longer to wait before raising interest rates.
Fed Officials Saw Outlook as Cloudy at Meeting Before ‘Brexit’ Vote



By BINYAMIN APPELBAUM
A unanimous vote in June to keep rates steady was a result of confusion, rather than consensus.
DealBook Highlights
London’s financial district viewed from Greenwich Park. The city’s property market had been booming until the British referendum to leave the European Union.
3 More Property Funds Halt Withdrawals After ‘Brexit’ Vote
By CHAD BRAY
Three asset managers followed three others that had temporarily suspended trading in their British real estate funds as investors sought liquidity.
BREAKINGVIEWS
Détente for Netflix and Comcast
By JENNIFER SABA
The relationship between the two companies has often been rocky, but nothing brings out the olive branch like a business opportunity.
 
Buzz Tracker
A Ukrainian kleptocrat wants his money and U.S. asylum. Pavlo Lazarenko, felon and former prime minister of Ukraine, is battling the United States for $250 million held offshore and for political asylum. – The New York Times
Gretchen Carlson of Fox News files suit against Roger Ailes. The longtime anchor says that the powerful chairman fired her last month after she refused his sexual advances and complained to him about discriminatory treatment in the newsroom. – The New York Times
The strange story of a murdered banker in Puerto Rico. Maurice Spagnoletti was hired to clean up Doral Bank. Did he uncover something that got him killed? – Bloomberg Businessweek
Doom at Deutsche Bank?  The bank’s share price has dropped by 50% this year. “People are panicking in a serious way,” says one ex-managing director. “I’ve taken at least two dozen calls in the past week from former colleagues asking my thoughts and advice.” – eFinancialCareers
Photos of tech and media elites in Sun Valley. This slide show tracks which moguls have gathered in Idaho for the annual conference held by the boutique investment bank Allen & Company. – Business Insider
 
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Looking Ahead
Unemployment numbers for June. On Friday, at 8:30 a.m., the Labor Department is scheduled to release its report on the nation’s hiring and unemployment for June. After a disappointing initial showing of just 38,000 new jobs in May, everyone is hoping for a bounce back. Improvement is a good bet given that the previous count did not include the more than 35,000 Verizon workers who had been on strike. They are now back on the job and should nudge June’s figures. Wall Street analysts are predicting that employers hired 175,000 workers last month, with a slight uptick in the jobless rate to 4.8 percent. Recent declines in the rate can be traced to an increase in the number of Americans who have stopped looking for work. Since this will be the last jobs report before Republicans and Democrats gather to officially declare their presidential nominees at their conventions, the totals will help set the stage for each party’s economic pitch. – Patricia Cohen