Germany Factory Orders Slump Most Since Lockdowns in 2020
(Bloomberg) — German factory orders plummeted in July, a sign that the woes of Europe’s biggest economy continued into the third quarter.
Bloomberg Business
Asean Latest: Leaders Express Disappointment Over Biden’s Snub
Chinese Premier Li Qiang highlighted his country’s strong ties with Southeast Asia during a meeting on Wednesday with the leaders of a region that’s challenged by an increasingly complicated geopolitical landscape.
KKR Is Said to Plan Kokusai Electric IPO at $2.7 Billion Value
Private equity firm KKR Group plans to list Kokusai Electric Corp.’s shares in Tokyo as early as October at a valuation north of ¥400 billion ($2.7 billion), a person familiar with the matter said.
ECB’s Knot Says Markets Risk Underplaying Hiking Chances
Investors largely betting against a European Central Bank interest-rate increase next week are “maybe” underestimating the likelihood of it happening, according to Governing Council member Klaas Knot.
G-20 Aims to Triple Renewables and Gives Caveat to Fossil Fuels
Group of 20 nations will aim to triple renewable energy capacity by 2030 though also offered support to technology that can sustain the use of fossil fuels, easing concerns from Russia and Saudi Arabia that had previously stalled a deal.
ECB Must Hike One More Time, Preferably Next Week, Kazimir Says
The European Central Bank needs to raise interest rates one more time to make sure inflation returns to 2%, according to Governing Council member Peter Kazimir.
I Squared-Backed Star Leasing Agrees to Buy New Jersey Rival CTL
Star Leasing Co., a trailer-leasing specialist backed by I Squared Capital, agreed to buy New Jersey-based rival Commercial Trailer Leasing Inc.
San Francisco Lost Its Chance to Be Blockchain Capital, Ripple’s Larsen Says
San Francisco was set to become “the blockchain capital of the world” but lost its status because of hostile US government policy and regulatory crackdowns, according to Chris Larsen, co-founder and executive chairman of crypto pioneer Ripple Labs Inc.
Swiss Watchdog Head Quits as Health Hit by Credit Suisse Crisis
The head of Switzerland’s banking watchdog has resigned after suffering a deterioration in health partly caused by the crisis surrounding Credit Suisse this year.
Telefonica Deal Tests Europe’s Appetite for Mideast Wealth
A Saudi Arabian state-backed telecom firm is set to splash out $2.5 billion to become the biggest shareholder in Spain’s Telefonica SA, marking the latest instance of Middle Eastern wealth flowing into key European communication assets.
