UK economy expands 0.6% in second quarter; June growth stalls
GDP has recorded slight but steady growth almost every month so far this year as the U.K. exits a shallow recession.
Tencent-backed Airwallex hits $500 million annualized sales, aims to get IPO-ready by 2026
Payments startup Airwallex has reached an annual revenue run rate of $500 million and will be ready for an IPO by 2026, CEO Jack Zhang told CNBC.
Ukraine must decide how its Russian incursion ends — advance further or retreat before it’s too late
Ukraine must decide whether to try to hold or advance its incursion, or to withdraw now before Russia mounts what could be a furious and deadly response.
Walmart beats estimates, raises outlook as it sees stable consumer health
Walmart beat quarterly earnings and revenue estimates and hiked its full-year guidance.
Bank of Japan will take longer to hike rates given the yen’s rapid strengthening, BMI says
Following market turbulence, BOJ’s Deputy Governor Uchida Shinichi released a statement affirming that the bank would not raise rates amid market instability.
Schumer says a crypto bill can pass Senate this year; key Dems join ‘Crypto4Harris’ call
Top Democrats joined virtual town hall to back crypto and a Kamala Harris administration.
China’s bond market intervention reveals financial stability worries
The country’s latest efforts to stem a bond market rally shows that authorities are worried about financial stability, analysts said.
China reports slight beat in July retail sales, but industrial data disappoint
Other data for July released in the last two weeks have indicated consumer demand remains sluggish.
Japan second-quarter GDP beats expectations, expands 0.8% from previous quarter
On a year-on-year basis, however, the country’s GDP fell for a second straight quarter, down 0.8% after having declined 0.9% in the first quarter.
CNBC Daily Open: Inflation battle is ‘absolutely’ done
The S&P 500 closed higher for the fifth straight session. The Dow Jones Industrial Average climbed 242 points, while the Nasdaq Composite eked out a 0.03% gain.
