Business Briefs – May 10, 2016

British Exit Risk Casts Shadow Over EU’s Economic Hopes

LONDON (AP) – Soon, the British will decide whether to leave the European Union and the other countries won’t have a say — even though it could be a threat to their collective economy and prosperity.

The vote for the so-called Brexit on June 23 would likely trigger turmoil in financial markets and uncertainty for businesses.

The broader fear is that the U.K.’s departure could prompt other countries to seek changes to their EU membership. And potentially it could usher in a new era of nationalism that undermines the EU’s core purposes: the freedom to trade and move between countries.

Panama Papers Offshore Companies Data Spurs Anti-Graft Moves

TOKYO (AP) – The latest release of the names of thousands of offshore companies and other financial data of the rich and powerful is spurring renewed calls to counter corruption and tax evasion.

Japan said Tuesday that it plans to propose an action plan at the summit of the Group of Seven rich industrial economies, which is held later this month. India’s tax authorities have sent notices to all its citizens listed in the database and would investigate.

And these follows various moves by other countries to investigate or tighten oversight of such financial dealings stemming from what have been dubbed the “Panama Papers.”

Study: Costs for Most Long-Term Care Keep Climbing

WASHINGTON (AP) – Long-term care grew more expensive again this year, with the cost of the priciest option — a private nursing home room — edging closer to $100,000 annually, according to a survey from Genworth Financial.

Americans also are paying more for other care options like home health aides and assisted living communities, while adult day care costs fell slightly compared to 2015, Genworth reported.

Private nursing home rooms now come with a median annual bill of $92,378, an increase of 1.2 percent from last year and nearly 19 percent since 2011. That’s roughly twice the rate of overall inflation.