TOP STORIES 
 
U.S. STOCKS RISE AFTER BREXIT ROUT 

U.S. stocks rose Tuesday as financial markets showed signs of stabilizing.

MOODY'S PUTS U.K. BANKING SYSTEM ON NEGATIVE OUTLOOK 

Moody's Investor Service lowered its outlook on the U.K.'s banking system to negative and cut its outlook on certain individual institutions.

U.S. GDP GROWTH REVISED UP TO 1.1% RATE 

The U.S. economy expanded more than previously thought in the first three months of the year, but the subdued pace overall suggests it remains vulnerable to a new round of global economic turmoil.

MORE TURMOIL IN U.K. AS LABOUR LEADER LOSES VOTE 

Opposition Labour Party leader Jeremy Corbyn refused to resign despite mounting pressure from his own lawmakers, who passed a no-confidence measure Tuesday.

ECB'S DRAGHI EXPECTS BREXIT TO CUT EUROZONE GROWTH BY UP TO 0.5% OVER 3 YEARS 

European Central Bank President Mario Draghi said he expects the U.K.'s decision to exit the European Union to reduce economic growth in the eurozone by up to 0.5% over three years, people familiar with the matter said.

LENDINGCLUB TO CUT 12% OF ITS WORKFORCE AS LOAN VOLUMES FALL 

Online lender LendingClub said that it is cutting up to 12% of its workforce in response to more muted investor demand for its loans and that it had discovered new issues related to its former chief executive.

VW TO PAY UP TO $14.7 BILLION TO SETTLE DIESEL-EMISSIONS CLAIMS 

Volkswagen has agreed to pay up to $14.7 billion to settle legal emissions-cheating claims with regulators and owners of nearly 500,000 diesel-powered vehicles.

SUPREME COURT TO HEAR CASE ON ATM FEES 

The Supreme Court agreed to consider an appeal by Visa, MasterCard and several leading banks that are challenging lawsuits alleging they conspired to set anticompetitive ATM fees.

DOW CHEMICAL TO CUT 2,500 JOBS AMID CORNING RESTRUCTURING 

Dow Chemical said it planned to cut 2,500 jobs globally, or about 4% of its workforce, as it restructures Dow Corning Corp., which it now owns completely.

HEADQUARTERS OF MERGED STOCK EXCHANGE WOULD MOVE FROM LONDON 

Felix Hufeld, a top German regulator, Tuesday raised the bar for the planned $30 billion merger of Deutsche Bö rse AG and London Stock Exchange Group PLC, saying the headquarters of a combined exchange would have to be moved away from London.

SAM WYLY GETS A $1.1 BILLION TAX BILL 

A federal judge has ordered Texas entrepreneur Sam Wyly to pay $1.1 billion in taxes and penalties for committing tax fraud using offshore accounts, even though the former billionaire's net worth has fallen to a fraction of that.

VIOLATION TRACKER TALLIES MORE THAN $160 BILLION IN BANK PENALTIES SINCE 2010 

Big banks have paid more than $160 billion in federal penalties over the past six-plus years, with five banks recording more than $10 billion apiece since 2010, advocacy group Good Jobs First says.

OIL PRICES CLIMB ON NORWAY STRIKE THREAT 

Oil prices settled higher Tuesday amid the threat of strikes by Norwegian oil and gas workers.

ATLANTIC CITY STILL UNDER THREAT OF CASINO STRIKE 

Headed into the busiest weekend of its year, Atlantic City remains under threat of a strike that could see picket lines at five of the New Jersey city's eight casinos.

FIAT CHRYSLER GEARSHIFT LINKED TO 266 CRASHES, 68 INJURIES 

A U.S. government probe into Fiat Chrysler gear shifters like the one in the SUV that crushed and killed "Star Trek" actor Anton Yelchin found 266 crashes that injured 68 people.

GILEAD GETS FDA APPROVAL FOR COMBO HEPATITIS C DRUG 

Gilead Sciences received FDA approval for its Epclusa hepatitis C combination drug and priced the treatment below its older drugs for the disease.

IKEA TO RECALL 29 MILLION DRESSERS, CHESTS IN U.S. 

IKEA has agreed to recall 29 million chests and dressers in the U.S. following a raft of injuries and the deaths of six toddlers caused by the furniture tipping over.

CANADIAN PM CALLS PROTECTIONISM A RISK TO GROWTH 

Canadian PM Justin Trudeau, on the eve of an Ottawa summit with U.S. and Mexican leaders, pointed to the North American example of economic integration and warned of risks posed by a growing tide of protectionism and nationalism.

OAKTREE EMPLOYEE FACES EXTRADITION TO U.A.E. 

An employee of distressed-debt firm Oaktree Capital Management was arrested in London and faces the possibility of being extradited to the United Arab Emirates on charges that he stole millions on Oaktree's behalf.

FIDELITY JUST MADE BUYING AN INDEX FUND VANGUARD CHEAP 

Money manager Fidelity Investments plans to slash prices on more than two dozen funds, a concession to an industry movement toward cheap products that track the market.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Central Banks 
CENTRAL BANKERS FACE CONFLICTING PRESSURES FROM BREXIT VOTE 
 

European Central Bank President Mario Draghi's call for better coordination on policy moves underscores the conundrum he and his associates face in the wake of Britain's vote to leave the EU.

 
Foreign Exchange 
BRITISH POUND GAINS GROUND, BUT FEW PREDICT A RECOVERY 
 

The U.K. currency edged up from decade-lows as global markets rose for the first time since Britain voted to leave the EU. But amid political and economic uncertainty, analysts predict further weakness for the pound.

(END) Dow Jones Newswires

June 28, 2016 17:16 ET (21:16 GMT)