Global Stocks Edge Up as Oil Retreats on Hormuz Hopes, Nvidia Earnings Awaited
World stocks inch higher as Brent drops over 2% on Strait of Hormuz optimism, with Nvidia earnings and US inflation data in focus.
Economy
Hormuz Closure Reshapes Global Energy: Renewables Surge, Coal Rises
The Strait of Hormuz closure is accelerating renewable energy adoption globally, though coal use and emissions are also climbing as nations scramble for secure power.
WiseTech Global Shares Plunge 10% as e2open Costs Hit Annual Profit
WiseTech Global's shares fell over 10% after annual profit missed estimates, weighed by e2open acquisition costs.
China's Deflation Eases, But Fitch Warns of Demand-Led Price Risks
Fitch says China's deflationary pressure has softened, but weak domestic demand and labour market risks could reignite price declines.
Thailand keeps rates at 1% as recovery stays uneven
Thailand's central bank held its key rate at 1% for a third straight meeting, citing uneven growth and improving inflation.
Copper slips from six-month high as US inflation data looms
Copper prices eased after touching a six-month high, as economic concerns and upcoming US inflation data weighed on industrial metals.
ECB set to raise rates in September but signals pause after
ECB policymakers plan a September rate hike to 2.50% to counter Iran-war inflation, but are unlikely to signal further tightening.
Canada Slaps Retaliatory Tariffs on 700+ US Products
Canada will impose counter-tariffs on over 700 US goods from Sept 8, matching US tariffs dollar-for-dollar.
Japan plans blockchain-based instant settlement for stocks and bonds
Japan is studying a blockchain-based system to settle stock and government bond trades instantly, with operations possible by the early 2030s.
Democrats Open 8-Point Lead on Cost of Living as Midterms Near
A new poll shows Democrats leading Republicans by 8 points on cost-of-living concerns, the widest gap yet, as midterm elections approach.
US Agriculture Secretary Acknowledges Farmer Anxiety Over Canada Trade Spat
US Agriculture Secretary Brooke Rollins admits farmers are concerned about the trade war with Canada but insists the US will ultimately benefit.
Brazil's July Tax Revenue Hits Record High on Strong Corporate Collections
Brazil's federal tax revenue hit a record July high, rising 8.97% in real terms to 289.3 billion reais.
IMF Chief: Global Economy Weathers Energy Shock, Fiscal Strains Loom
IMF's Georgieva says the global economy has coped with the Gulf energy shock better than expected, but fiscal pressures and inflation risks remain.
Brazil Campaigns Split on Cure for Soaring Long-Term Borrowing Costs
Brazil's presidential rivals offer opposing fixes for high long-term interest rates, with Lula's team backing bond buybacks and Bolsonaro's urging spending cuts.
Loonie edges up as Canada retaliates with tariffs on US goods
Canada's dollar inched higher after Ottawa announced retaliatory tariffs on $20 billion in US imports, escalating the trade conflict.
Mexico's 'super peso' rally: A boon for some, a burden for exporters
Mexico's peso has surged nearly 20% since January, driven by a weak dollar and carry trades, but the strong currency is now pressuring exporters.
Iran rejects new US sanctions as 'systematic bullying', hints at talks
Iran condemns fresh US sanctions as unlawful, while Oman and Tehran discuss a Hormuz shipping corridor and Pakistan relays messages.
US New Home Sales Slump in July as Consumer Confidence Hits Seven-Month Low
US new home sales fell 10.5% in July to 607,000 units, the lowest since January. Consumer confidence also dipped to a seven-month low.
Canada Hits Back With Tariffs on $20 Billion of US Goods
Canada imposes retaliatory tariffs on $20 billion of US goods, matching Washington's duties dollar-for-dollar, and announces business support.
Putin signs decree allowing state takeover of drone-hit infrastructure
Russia's president has signed a decree permitting temporary state control of critical facilities if owners fail to protect them from drone attacks.