U.S. stock futures were sharply higher this morning, following British, German, and France stocks higher, after two sessions of heavy losses on both sides of the Atlantic, following last Thursday's vote in the U.K. to leave the European Union. (CNBC)
The British pound was higher against the dollar, after hitting lows back to September 1985 on Monday. Meanwhile, safe-haven buying that pushed up gold and bond prices was abating this morning. Meanwhile, oil surged today, breaking a two-session losing streak. (Reuters)
The cost of buying protection against a default on British sovereign debt using credit default swaps rose to a three-year high today, after rating agencies Standard & Poor's and Fitch on Monday slashed the U.K.'s debt ratings. (CNBC)
Worldwide markets hemorrhaged more than $3 trillion in paper wealth on Friday and Monday, according to data from S&P Global, even worse than in the 2008 financial crisis. About $1.3 trillion of those Brexit-inspired losses came from U.S. markets alone. (CNBC)
Outgoing U.K. Prime Minister David Cameron is due to attend a European summit in Brussels today, where pressure is expected to be applied on Britain to start quickly the process of leaving the European Union. Britain wants to know where it stands with the EU first. (CNBC)
Volkswagen is expected to file a $14.7 billion settlement with U.S. regulators and consumers in federal court today, over the German automaker's diesel emissions cheating. The deal is expected to include $10 billion to repair or buyback 475,000 vehicles. (USA Today)
The CEO of Japan's Takata said he'd resign after a "new regime" is found, finally bowing to calls to step down over a long-running, massive global recall of potentially deadly airbags. Takata is seeking a financial backer to help bear the costs of liabilities. (CNBC)
Ikea has issued a recall for at least 27 million chests and dressers that can easily tip over onto children. After the three deaths, Ikea said it's no longer selling its Malm series products. A free wall-anchor kit is available. Refunds are also being offered. (NBC News)
Dow Chemical (DOW) is cutting 2,500 jobs, or about 4 percent of its global workforce, in a move related to its taking of full ownership of its Dow Corning joint venture. All that comes ahead of its planned merger with DuPont (DD). (CNBC)
Apple (AAPL) CEO Tim Cook hosts a fundraiser with House Speaker Paul Ryan this morning, as the iPhone maker tries to strengthen its relationships with key Republicans, despite pulling support for the GOP convention because of its distaste for Donald Trump. (Politico)
After a more than two-year investigation into the 2012 terrorist attack in Benghazi, Libya, House Republicans are set to release a report today recounting the events while presumptive Democratic presidential nominee Hillary Clinton was secretary of state. (NBC News)
Clinton now leads Republican rival Donald Trump by 8 points, her highest advantage since the general election match-up question was first asked on May 2, according to the latest NBC News|SurveyMonkey Weekly Election Tracking Poll.
Ride-hailing startup Lyft has hired dealmaker Qatalyst Partners. The boutique investment bank run by Frank Quattrone has contacted companies including large automakers about buying a stake in the largest U.S. rival to Uber. (WSJ)
Chipotle (CMG) is hoping free food will help win back customers, after last year's bout of food safety scares. The restaurant chain is launching a three-month frequent dining, summer promotion "Chiptopia" starting Friday. (USA Today)
The Yankees are dumping Ticketmaster for StubHub as its ticket resale partner, in a six-and-a-half-year, $100 million deal, beginning next month. New York and Los Angeles were the lone holds when MLB went with StubHub in 2012. (Yahoo Finance)
Legendary Lady Vols coach Pat Summitt has died, after battling early onset dementia. The 64-year-old former coach at the University of Tennessee, Knoxville was recognized as the "winningest basketball coach in NCAA history." (NBC News)
The U.S. government releases its third and final estimate of first quarter GDP at 8:30 a.m. ET, with forecasts calling for an annual growth rate of 1.0 percent, up from the prior estimate of 0.8 percent.
The April Case-Shiller report on home prices, issued at 9 a.m. ET, is expected to show a 5.7 percent year-over-year increase, compared to 5.4 percent in March.
The Conference Board is out with its consumer confidence index at 10 a.m. ET. The check on Americans are feeling about the economy is seen rising to 93.6 for June from 92.6 in May.
Cruise line Carnival (CCL) and financial information provider FactSet (FDS) are out with quarterly profits this morning, while Dow component Nike (NKE) issues earnings report after this afternoon's closing bell.
LendingClub (LC) named acting CEO Scott Sanborn as permanent chief executive. The embattled online lender said it's cutting 179 jobs and expects to see revenue and earnings growth resume in the first half of next year. LendingClub hold its annual shareholders meeting today.
Xerox (XRX) is appointing a lieutenant of billionaire activist investor Carl Icahn to its board, prior to the document giant's planned split into two separate companies, according to the Wall Street Journal. Icahn is the largest Xerox shareholder with a 9.8 percent stake.
SolarCity (SCTY) formed a special committee consisting of two directors, and hired outside advisers to evaluate the takeover bid by automaker Tesla (TSLA). Both companies are controlled by Elon Musk, and the panel was constructed to avoid potential conflicts of interest.
Viacom's (VIAB) board rejected an offer to meet face-to-face with controlling shareholder Sumner Redstone, according to a Reuters report. Viacom has been embroiled in controversy after Redstone's National Amusements removed Viacom CEO Philippe Dauman and others from its board.
Teva Pharmaceutical (TEVA) sold a portfolio of U.S. generic products to Australia's Mayne Pharma Group for $652 million. The deal is part of Teva's asset divestiture to win regulatory approval for its planned $40 billion purchase of Allergan's (AGN) generic drugs portfolio.
Pfizer (PFE) plans to invest $350 million in a new biotech center in China, which would be its first in Asia. The facility is expected to be completed by 2018. Big Pharma is increasingly looking for smart ways to tap China's healthcare market.
Gannett (GCI) is buying digital marketing services company ReachLocal (RLOC) for $156 million in cash. The offer is worth $4.60 per share, compared to ReachLocal's Monday closing price of $1.66. ReachLocal's nearly $50 million value is set to more than double.
General Electric (GE) struck three deals to sell most of its U.S. restaurant financing assets, as the company continues to refocus on its industrial operations. First Horizon National (FHN), Wintrust Financial (WTFC) and Sterling Bancorp (STL) were the buyers.
England crashed out of the Euro 2016 soccer tournament to tiny Iceland, just days after Britain voted to exit the EU. Manager Roy Hodgson resigned after the loss on the pitch, as U.K. Prime Minister David Cameron did after losing at the polls. (Reuters)
The Brexit vote is also hitting the prestigious Wimbledon tennis championship. The drop in the British pound is making the 2 million pound prizes for the men's and women's singles winners each worth $360,000 less in dollar terms. (CNBC)