Canadian Inflation Slows to 2.8%, Though Core Remains Sticky
Inflation in Canada slowed to within the central bank’s control range for the first time since March 2021, but progress in cooling underlying pressures has essentially stalled.
Bloomberg Business
Wall Street Spent $350,000 Lobbying EM Debt Restructuring Bills
Wall Street spent more than $350,000 to lobby New York lawmakers on bills that aimed to overhaul the process for restructuring sovereign debt, according to a Bloomberg calculation of lobbyist filings.
Gold Climbs as Bond Yields Fall After Comments by ECB Official
Gold rose as US bond yields fell following dovish commentary from a key European Central Bank official.
Morgan Stanley’s Job Cuts Cost $308 Million
Morgan Stanley’s efforts to reduce expenses by eliminating jobs has cost it $308 million, with the firm’s investment bank taking the brunt.
Xi Says China to Decide Its Own Path to Reduce Carbon Emissions
President Xi Jinping said China will decide on its own path to reduce carbon emissions instead of following other nations.
EU Courts Further Controversy by Adding Mining to Green Rulebook
The European Union will include the mining of critical raw materials in its green investment rulebook as a “priority” to ensure the bloc isn’t left behind on resources needed to boost clean technologies.
Modi, His Opponents Woo Local Parties Ahead of National Vote
Ahead of India’s 2024 general election, Prime Minister Narendra Modi’s ruling coalition and his political opponents are racing to woo regional parties, a battle that could shape the outcome of the world’s largest democratic vote.
Nigeria Raises Gasoline Prices 15%, Adding More Pain at the Pump
Nigeria’s state oil company increased the pump price of gasoline by nearly 15%, weeks after prices almost tripled following the scrapping of fuel subsidies and a sharp depreciation of the naira, which made imports more costly.
Home Builders Gain Momentum in Canada After Sluggish Spring
Canadian homebuilders ended the first half of 2023 with their biggest month of the year, reversing a slump in construction activity.
Vienna’s Old Flats Extend Austrian Housing Slump to Nine Months
Austrian home prices fell for a third consecutive quarter, led by declines in existing apartments in Vienna as the once-hot property market adjusts to higher interest rates.
