Venezuela’s jaw-dropping hyperinflation; Brexit could last until 2022; American economy gathers momentum

Exciting news! A brand-new version of this newsletter – with more video and more of Quest's voice and global perspective -- will be launching in your inbox soon. What's new... what's next   By Matt Egan and Julia Horowitz of CNNMoney 1. Brexit may not be complete until 2022 Five long years. That's how long it may take Britain to ease its way out of the European Union. The protracted exit aims to prevent severe damage to its economy. The U.K. hopes current trade terms will remain intact during a "transitional period" after Britain leaves the EU in March 2019. It's a major shift from Prime Minister Theresa May's earlier push for a clean break. London has softened its stance after May lost her parliamentary majority in June's election. 2. American economy gathers momentum Growth accelerated during the first full quarter with President Trump at the helm. The U.S. economy grew at an annual rate of 2.6% during the April to June period, more than doubling the sluggish pace from the first three months of the year. The rebound was driven by stronger consumer spending as well as increased federal government spending. Growth remains well short of the 4% Trump promised as a candidate, but it's getting closer to the more moderate goal of 3% he set since taking office.  3. European tournament boosts soccer in U.S.  Soccer's reach in the United States is growing, thanks in large part to marquee European clubs. And this month, some of their biggest stars are playing on American soil. The International Champions Cup, a preseason tournament for the European clubs, is taking place in 11 U.S. cities and featuring big names like Paul Pogba, Neymar, Lionel Messi and Luis Suárez. The tournaments is drawing more viewers this year on ESPN -- about 330,000 total for six matches, compared with 315,000 over eight matches last year. Goal!  4. Venezuela's hyperinflation is jaw-dropping Venezuela's cash becomes a little more worthless each day. On Friday, $1 was worth 10,389 bolivars. This past Monday, it was worth 8,820 bolivars. And at the start of the year, $1 equaled 3,164 bolivars. The situation is made worse by the fact that private banks only let Venezuelans take out 30,000 bolivars from an ATM at a time (or $2.88). That makes it increasingly hard to buy even staples like food and medicine.  5. Quick Takes: Wells Fargo may have forced 570,000 customers into unneeded auto insurance Austin pulls Ford Explorers from police fleet after carbon monoxide issues Gin fizz? This tonic stock has gained over 1,300% in three years Well, that's settled. Meg Whitman: 'Uber's CEO will not be Meg Whitman' Did Martin Shkreli commit fraud? That's now up to a jury Tobacco stocks get crushed as FDA targets nicotine in cigarettes Macau real estate billionaire found guilty of bribing United Nations officials 6. What's next: Europe's unemployment still shrinking? New numbers on joblessness are due out of the eurozone at 5 a.m. ET on Monday. Thanks to Europe's economic momentum, unemployment is expected to tick down to 9.2% for June, compared with 10.1% last year.  Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences