Interest rates should stay around 5% for longer — even as inflation falls, top economist Jim O’Neill says
Veteran economist Jim O’Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.
Deliveroo upgrades earnings guidance despite drop in orders
British meal delivery company Deliveroo reported a resilient first half in challenging market conditions that saw its total orders number fall 6%.
Siemens sees weakening demand trends as third-quarter misses forecasts
Siemens missed profit forecasts in its latest quarter, noting weakening demand in several markets including China.
European markets climb on strong earnings ahead of key U.S. inflation print
European markets were higher on Thursday ahead of a key U.S. inflation print that could provide hints about the Fed’s next monetary policy move.
CNBC Daily Open: Inflation, earnings and the American consumer
Americans are being very careful where and how they are spending their money in an age of rising prices.
Wegovy-maker Novo Nordisk extends curb on supply of weight-loss drug, raises outlook
The Danish drugmaker confirmed that it will continue to restrict the lower-dose strengths of Wegovy as it strives to keep up with demand.
China targeting German tech ‘through back door’ with licences: report
China is targeting licences to boost its access to German tech, according to a report by Handelsblatt newspaper.
China lifts ban on group travel to more than 70 locations, giving a boost to travel stocks
This will be the first time in six years that China would allow group tours to South Korea.
The average Manhattan rent just hit a new record of $5,588 a month
Rents in Manhattan hit a new high in July, as higher interest rates and low supply continued to drive up prices.
‘Blatant economic coercion’: China slams Biden’s order limiting U.S. overseas tech investment
“This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated,” the Chinese Ministry of Commerce said.
