TOP STORIES 
 
S&P AFFIRMS U.S. CREDIT RATING AT AA+ 

S&P affirmed its double-A-plus credit ratings on the U.S., pointing to the resilience and diversity of the economy and its unique status as the issuer of the world's leading reserve currency.

U.S. STOCKS HIGHER, CAPPING ROCKY FIRST HALF OF YEAR 

U.S. stocks extended gains Thursday after Bank of England Governor Mark Carney said the central bank would likely have to stimulate the British economy.

BOE'S CARNEY SIGNALS RATE CUT 

Bank of England Governor Mark Carney said cuts in interest rates will be needed even as he declared his confidence in the U.K.'s ability to successfully adapt to a future outside the European Union.

MONDELEZ MAKES TAKEOVER BID FOR HERSHEY 

Mondelez made a roughly $23 billion bid for chocolate giant Hershey and was promptly rebuffed in what would be a blockbuster deal uniting two of the world's best-known candy makers.

TESLA DRAWS SCRUTINY AFTER AUTOPILOT FEATURE LINKED TO A DEATH 

U.S. auto-safety regulators are investigating Tesla Motors's autopilot feature after a motorist using the system died in Florida, ratcheting up scrutiny of the Silicon Valley electric-vehicle company's highly-touted technology and driverless cars more broadly.

DEUTSCHE BANK SHARES HIT MORE THAN 30-YEAR LOW 

Deutsche Bank shares tumbled to more than a 30-year low after the International Monetary Fund and the Federal Reserve delivered the lender a double whammy, saying it posed a significant risk to financial stability.

FED'S BULLARD: CAN NO LONGER COUNT ON USUAL CYCLICAL DYNAMICS 

Federal Reserve Bank of St. Louis President James Bullard said the U.S. economy was in an era of modest growth that would keep unemployment and inflation at their current levels for the next 2 ½ years.

CANADA COURT OVERTURNS APPROVAL OF ENBRIDGE'S PROPOSED GATEWAY PIPELINE 

A Canadian high court dealt another blow Thursday to Enbridge Inc.'s proposed Northern Gateway pipeline after it overturned a 2014 government order granting the company permission to build a corridor connecting Alberta's landlocked oil sands with the Pacific coast.

VISA, MASTERCARD DEAL WITH RETAILERS REJECTED BY U.S. COURT 

A U.S. Court of Appeals rejected the 2012 swipe-fee settlement between the retail industry and payments companies Visa and MasterCard, calling the agreement "unreasonable and inadequate."

FED SURVEY: CREDIT CONDITIONS LARGELY UNCHANGED IN SECURITIES MARKETS 

A majority of respondents to a Federal Reserve survey of senior credit officers reported little change in credit conditions in recent months in securities financing and derivatives markets, the Fed said.

S&P DOWNGRADES EU CREDIT RATING 

S&P Global Ratings cut the investment-grade credit ratings of the European Union by a notch, saying the U.K.'s vote to leave the EU reduces its budget flexibility and reflects a loss of political solidarity.

BANKS PRESS FOR EXTENSION ON RISK-TAKING RULE 

Regulators have been silent about an expected delay in announcing when banks have to abide by a part of the Volcker rule, meant to limit risk-taking by Wall Street.

LIONS GATE AGREES TO BUY STARZ IN $4.4 BILLION DEAL 

With its agreement to acquire Starz for $4.4 billion including debt, Lions Gate Entertainment Corp. is poised to become a bigger player in media mogul John Malone's plan to consolidate the content business.

MICRON SWINGS TO LOSS, ANNOUNCES JOB CUTS 

Micron Technology swung to a loss in its latest quarter and announced a cost-cutting plan that includes layoffs as the memory chip maker feels the pinch of the soft demand for personal computers.

NORWEGIAN AIR'S U.K. UNIT DENIED NEW INTERIM FLYING PERMIT 

U.S. regulators on Thursday dismissed an initial application from European discount airline Norwegian Air Shuttle A/S to establish a new long-haul operation in the U.K.

COMMERZBANK TO CUT MORE THAN 100 JOBS IN NEW YORK OFFICE 

Germany's Commerzbank AG is cutting more than 100 investment banking-related jobs in its New York office as part of its efforts to streamline its operations and boost profitability, according to an internal memo seen by The Wall Street Journal.

P&G OVERHAULS BONUS SYSTEM FOR MANAGERS 

Procter & Gamble is overhauling its incentive system for managers as part of an effort by Chief Executive David Taylor to cut through the company's bureaucratic morass and jump-start sales growth.

BANK OF MEXICO RAISES INTEREST RATES BY A HALF POINT 

The Bank of Mexico raised interest rates by a half percentage point Thursday to keep inflation expectations from rising in the face of a weaker peso and worsening international financial conditions.

UPS, PILOTS AGREE TO NEW TENTATIVE FIVE-YEAR LABOR CONTRACT 

United Parcel Service and its pilots have agreed to a new tentative five-year labor contract, ending nearly five years of negotiations.

BANK OF PORTUGAL RECEIVES FOUR BIDS FOR NOVO BANCO 

Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Europe Markets 
BREXIT VOTE PROMPTS BLEAK FORECASTS FROM ECONOMISTS 
 

The reaction of economists to Britain's vote to leave the European Union has been swift and brutal as they slash forecasts for growth across the world.

 
U.K. News 
BORIS JOHNSON WON'T RUN TO REPLACE CAMERON 
 

The race to determine the U.K.'s next prime minister took a sharp and unexpected turn when former London Mayor Boris Johnson said he wouldn't run to lead the Conservative Party.

(END) Dow Jones Newswires

June 30, 2016 17:09 ET (21:09 GMT)