Worldwide

U.S. recession fears diminish as stocks continue to recover globally, Nasdaq up 2.87 percent

Japan's broader Topix index also witnessed a 0.88 percent rise to 2,483.30 while the Nikkei 225 index inched up 0.56 percent to 35,025

Meta raises $10.5 billion in debt offering to supercharge AI investments, outpace competition

Analysts projected Meta's 2024 capex at $35-40 billion, but the company raised the minimum to $37 million

U.S. unemployment claims see biggest 11-month drop, easing recession fears with 233,000 filings

Government data last week showed the layoffs rate in June was the lowest in more than two years

China’s 1,000-km/h high-speed flying train completes successful full-scale test

The train may be deployed on commuter routes in mega-cities, reducing the Beijing-Shanghai travel time to 90 minutes

Brazil sets out vision to develop creative economy through training, investment and productive inclusion

The guidelines would promote the producer, audiovisual, copyright, and Brazilian handicrafts

China’s foreign trade hits $3.46 trillion in Jan-Jul 2024, defying economic headwinds

The country's exports rose 6.7 percent year-on-year to 14.26 trillion yuan during the period

Microsoft and Delta clash over airline’s CrowdStrike-linked outage, blame game intensifies

Delta has hired prominent litigator David Boies to seek damages from both CrowdStrike and Microsoft

Brazil reports $7.6 billion trade surplus in July 2024, exports hit record $30.9 billion

This was driven by strong performances in agriculture, extractives, and manufacturing

China’s 20 key tasks aim to revive consumer spending across entertainment, tourism and more

The tasks urged increased credit support for critical areas of service consumption to reinvigorate weak domestic demand

Stock markets tumble on U.S. recession fears: Nikkei falls 12.4 percent, European shares near six-month low

Goldman Sachs analysts have increased their 12-month U.S. recession odds by 10 percentage points to 25 percent

Spain fines Booking.com over $446 million for alleged anti-competitive practices

Booking.com will appeal the "unprecedented" decision, arguing it offers valuable programs to support accommodation partners

CrowdStrike faces $25 billion wipeout, investor lawsuit over misleading software update claims

Investors who held shares from Nov 29 to Jul 29 are seeking compensation for losses

Optimism grows for U.K. markets as Bank of England slashes rates, boosts growth outlook

The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call

China broils under record-breaking temperatures, data reveals hottest July since 1961

Weathercasters warn the intense heat is far from over and is expected to persist into August

South Korea’s industrial output declines 0.1 percent in June, retail sales and facility investment rebound

The construction sector and public administration saw declines of 0.3 percent and 5.1 percent respectively

Easing inflation, weaker consumer spending signal two potential Fed rate cuts in 2024: Report

The report projected 2.1 percent U.S. economic growth in 2024, down from 2.5 percent in 2023

Bank of Japan surprises with rate hike for second time since 2007, trims bond buying

The central bank raised its short-term policy rate to levels not seen since 2008, defying market expectations

Eurozone GDP rises 0.3 percent in Q2 2024, exceeding analyst projections as Germany unexpectedly shrinks

Germany, Eurozone's biggest economy, unexpectedly contracted 0.1 percent in Q2

International visitors spend record $3.7 billion in Brazil in H1 2024

This represents a 15.6 percent surge compared to the first half of 2023

Key economic data releases and decisions this week: GDP, inflation, PMI and interest rates

This week, the U.S. Federal Reserve, the Bank of Japan and the Bank of England are holding monetary policy meetings

Ethiopia secures $3.4 billion IMF financing program with $1 billion immediate disbursement

The Ethiopian central bank has floated the birr, a crucial step for securing IMF support and progressing its debt restructuring

U.S. fortifies strategic crude oil stockpile with new 4.65 million barrel purchase

This procurement is part of a series of contracts aimed at refilling the nation's emergency oil stockpile