Bank of England Governor Andrew Bailey will be acknowledging the significant progress made in reducing inflation in the U.K. during his upcoming speech. He is expected to highlight the sharp decline in headline inflation, particularly due to the decrease in energy and food prices. Additionally, Bailey will mention how higher interest rates have played a
World
Deutsche Bank recently announced settlements with nearly 60% of plaintiffs in a long-running case regarding its acquisition of Postbank. These agreements have been reached at a settlement price of 31 euros per share, resulting in a positive impact on the bank’s anticipated third-quarter pretax profit by 430 million euros. This move has not only allowed
On Wednesday, Asian markets experienced a downturn following a halt to the eight-day winning streak of U.S. benchmark indexes, the S&P500 and the Nasdaq Composite. The S&P 500 dropped by 0.2%, while the Nasdaq Composite fell by 0.33%. Additionally, the Dow Jones Industrial Average saw a decrease of 0.15%. Japan’s trade data for July revealed
The recent sinking of a luxury yacht off the coast of Sicily has left several individuals missing, including the chairman of Morgan Stanley International, Jonathan Bloomer. Along with Bloomer, Clifford Chance lawyer Chris Morvillo has also been reported missing. The yacht, known as the “Bayesian,” was carrying 10 crew members and 12 passengers when it
Last week, Wall Street had its best week of 2024 as it recovered from a previous rout earlier in the month. The S&P 500 surged nearly 3.9%, bringing it close to its July high, while the Nasdaq Composite saw an even more impressive gain of 5.2%. On the other hand, the Dow Jones Industrial Average
Ukraine’s State Emergency Service reported a Russian missile attack in the city of Sumy that resulted in a blaze, injuring two individuals and causing damage to cars and nearby buildings. This attack, involving an Iskander-K cruise missile and an aerial bomb, marks a continued assault on Ukraine by Russia despite Ukrainian forces making advancements into
In a startling turn of events, Russia’s foreign ministry has accused Ukraine of using Western rockets, most likely U.S.-made HIMARS, to destroy a bridge over the Seym river in the Kursk region. This attack resulted in the tragic deaths of volunteers who were attempting to evacuate civilians from the area. Maria Zakharova, spokeswoman for the
Deutsche Bank, a German lender, has been embroiled in a long-running legal battle over its acquisition of German retail banking giant Postbank in the late 2000s. The crux of the challenge against the bank is that it underpaid for the acquisition, leading to a legal battle spanning over a decade. The proposed settlement put forward
China’s economic landscape in July presented a mixed picture, with retail sales surpassing expectations by growing 2.7% year-on-year, while industrial production fell short of forecasts, increasing by only 5.1% compared to the expected 5.2%. This disparity raises concerns about the overall health of the Chinese economy and its ability to sustain growth in the face
The Asia-Pacific markets experienced an extension in gains on Wednesday following the release of lower-than-expected producer prices in the U.S. for July. This positive development boosted investor confidence and set a positive tone for the trading day. The producer price index, which serves as a measure of wholesale inflation, saw a modest increase of 0.1%