UK borrowing costs drop sharply after lower-than-expected inflation print
The yield on two-year gilts fell 24 basis points as markets repriced Bank of England peak rate expectations lower.
China’s cautious consumer confidence is dampening economic recovery, says ADB
China’s cautious consumer confidence spending has been a “a dampener” for its fragile recovery, according to Albert Park, chief economist at ADB.
Critical chip firm ASML, caught in China export restrictions, posts 38% rise in profit
ASML said second-quarter net profit totaled 1.9 billion euros ($2.1 billion), marking a 37.6% year-on-year rise.
UK inflation rate slides to 7.9% in June, below expectations
U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.
Singapore’s ‘squeaky clean’ image takes a beating as scandals rock the government
A recent spate of high profile incidents has transfixed the nation, entangling the city-state’s political elite.
Ukraine seeks to lure global firms from Moscow as Danone and Carlsberg assets seized
Ukraine is urging global companies to relocate from Russia to its war-stricken neighbor, as Moscow continues to seize the assets of foreign companies.
North Korea fires two missiles after U.S. submarine arrives in South Korea
The launches do not appear to pose threat to the U.S. or to its allies, but highlight the destabilizing impact of North Korea’s illicit weapons program.
Goldman Sachs misses on profit after hits from GreenSky, real estate
Costly writedowns and a Wall Street slump weighed on Goldman Sachs results this quarter.
U.S. climate envoy John Kerry hints at potential Xi-Biden meeting
There’s a potential for Chinese President Xi Jinping to visit the U.S. later this year for the APEC summit, and possibly meet with Joe Biden during that time.
TikTok tests music-streaming service in Australia, Mexico and Singapore
The expansion comes after the popular short video app launched TikTok Music in Indonesia and Brazil earlier this month.
