The Italian government backtracked on part of its new windfall tax on banks, saying it would introduce a cap to limit the impact for many lenders as it tries to calm a rout that wiped out $10 billion from the banks’ market value.
Sony Group Corp. raised its full-year forecast as its PlayStation and entertainment arms sustained momentum even as a sluggish global economy hurt other operations.
Continental AG cut its sales outlook for the year on weakening markets for tires in Europe and North America.
Australia’s biggest pension fund plans to invest billions of pounds in the UK and Europe and is readying for a hiring spree in London.
(Bloomberg) — China’s consumer and producer prices fell together for the first time since 2020, a deflation cycle that could give global central banks some help in fighting inflation in their own countries but signals a worsening outlook in the world’s second-largest economy.
China’s consumer and producer prices fell together for the first time since 2020, a deflation cycle that could give global central banks some help in fighting inflation in their own countries but signals a worsening outlook in the world’s second-largest economy.
South Korean authorities warned Typhoon Khanun is on track to deliver an “extremely powerful” impact amid forecasts it will barrel up the country toward Seoul, the capital that’s home to about half the country’s population.
Severe thunderstorms in the US accounted for most insured losses globally in the first half of the year, according to reinsurer Swiss Re.
July was officially Earth’s hottest month on record, causing the Antarctic to shrink at a record pace and the European Union’s earth observation agency to warn of “dire consequences” as extreme weather events grow more frequent and more intense.
ABN Amro Bank NV slumped in Amsterdam after the bank’s delay of buyback plans outweighed the better-than-expected profit in the second quarter.
