WSJ City: UK Allure Rises After Apple Ruling; Sterling Deposits Jump; Consumers Shrug Off Brexit

WSJ City UK View this email in a web browser By Rebecca Byrne Good morning from London. Here's essential reading today from WSJ City  Brexit may make the UK more attractive to multinationals after the EU's Apple ruling, in theory. Economists predicted a massive outflow from sterling bank deposits. It hasn't yet happened. UK consumer confidence recovered in August but remained below levels seen before the Brexit vote. The outlook for European markets is worsening, as political risks intensify, says watchdog. Policy divergence used to be a key focus for foreign-exchange traders. But times have changed. City Talk: UK house prices continue to rise, HSS revenue climbs, SABMiller aims to keep Africa execs. The startling thing about the EU's ruling against Apple's Irish tax bill is how few people it pleases. Apple isn't the only American company in the EU's sights. Amazon and McDonald's are the next targets. Some investors believe the ECB will soon scrap one of its rules limiting sovereign bond purchases. Gold has been under pressure. But one bank says the precious metal is actually extremely under-priced. For updates throughout the day, you can download WSJ City for iPhone here or Android here. You'll need to open this email on your mobile device to do this.  In The Papers Theresa May has ruled out an early general election and a second EU referendum but said she will give parliament 'a say' on the Brexit process. FT (£) Jeremy Corbyn is likely to win the Labour leadership contest with an increased mandate, leading to a possible split of the party. The Times (£) Britain and France have reaffirmed Le Touquet agreement, strengthening their pact on the Calais migrants. FT (£) Iraq's prime minister said the country would support a decision by members of OPEC to limit oil output to prop up petrol prices. WSJ Google is moving onto Uber's turf with its own ride-sharing service in San Francisco that would help commuters carpool at far cheaper rates, jumping into a booming but fiercely competitive market. WSJ Markets Today Shares in London are unlikely to make much headway on Wednesday, with the strong dollar continuing to buffet commodity prices. The greenback inched higher in Asian trade, having gained more than 1% against the yen in New York on Tuesday amid growing expectations the Federal Reserve will lift interest rates this year. The WSJ Dollar Index, which measures the US currency against 16 others, hit a one-month high. The stronger dollar helped lift the Nikkei on Wednesday but pressured commodity prices, dragging down Australia's ASX 200. Miners were hit hard, with BHP Billiton and Rio Tinto both down more than 3.5%. Elsewhere in Asia, US oil prices slid to a near three-week low on expectations that crude stocks expanded last week, exacerbating the already oversupplied market. Nymex was trading at $46.20 a barrel, the lowest intra-day level since Aug 12. Brent also lost ground. Stocks to Watch: Iliad profit boosted by growing client base; Bouygues profit lifted by telecoms unit; Nokia technologies chief to step down and leave the company. Market Snap at 31/08/2016 6:44:43 GMT FTSE 100 Futures -0.18% GBP/USD 0.12% EUR/USD 0.02% Brent Crude Futures 0.02% Gold -0.02% 10-year Bund Yield -0.084% Advertisement Coming Up The FTSE concludes its quarterly review. Follow WSJ City Follow WSJ Unsubscribe• Newsletters & Alerts• Contact Us• Privacy Policy• Cookie Policy SUBSCRIBE FOR FULL ACCESS TO WSJ.COM SIGN UP FOR THIS NEWSLETTER You are currently subscribed as jasajuejejeje@gmail.com For further assistance, please contact Customer Service at support@wsj.com Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.