Markets
Iraq cuts July oil output as part of OPEC
The International Energy Agency sees oil demand surging by an unprecedented 5.7 million barrels per day next year, but even that would leave it 2.4 million below 2019 levels. did not purchase any barrel of Nigerian crude in July and August 2014 as well as June 2015, according to the EIA data. The Organization of the Petroleum Exporting Countries (OPEC) and its allies reached a deal to cut oil pr... [Full Article...]
Chinese billionaire rescued after foiled kidnap attempt
Police in Foshan, a city in the southern Guangdong province, said they received a report on Sunday that someone broke into an apartment in a residential community owned by Midea and threatened the homeowner's safety, according to a statement on their official WeChat account. [Full Article...]
Donald Trump renews threat to cut ties with China
Trump last month signaled a further deterioration in the relationship, saying he had no interest in speaking to President Xi Jinping right now and suggesting he could even cut ties with the world's second-largest economy. "The WTO has failed America, and it's failed the global trading system". Lighthizer told lawmakers Wednesday that he'd be "fine" if the Appellate Body never resumed business. [Full Article...]
Australia hit by cyberattacks from unnamed 'state-based actor,' says PM
This announcement comes just days after Lion, a major producer of iconic Australian beer, milk and juice brands, was hit by a cyber attack , crippling the manufacturing company's distribution efforts. Consumer confidence is a measurement of how people are feeling about the current and future state of the economy. "We have not gone any further than that". [Full Article...]
BoE boosts bond buying by $125 billion to counter virus crisis
However, the committee is not expected to cut interest rates further, specifically reducing the main benchmark to below zero for the first time in the bank's 326-year history - it now stands at 0.1 percent. The Bank of England said recent payment data and other up-to-date signals from the economy suggested consumer spending could already have reached a level that it previously expected would onl... [Full Article...]
Coronavirus Layoffs Keep Coming as Jobless Claims Top 45 Million
A separate report from the Philadelphia Fed on Thursday showed labour market conditions remained depressed in June at factories in the mid-Atlantic region even as manufacturing activity in the region that covers eastern Pennsylvania, southern New Jersey and DE rebounded sharply. [Full Article...]
Australia Sees China as Main Suspect in State-based Cyberattacks, Says Report
Prime Minister Scott Morrison has revealed today that Australian organisations - both public and private - are being targeted by a large scale state-based cyber attacker. He said that was a question to be answered by Australia's government. "Public attribution - and the threat of doing so -- is seen as one way of warning and deterring an opponent", he said. [Full Article...]
Donald Trump Signs Sanctions Law Over China's Treatment Of Uighurs
China lashed out at the United States on Thursday, after President Donald Trump signed into law a bill that would allow the USA to impose sanctions on Chinese officials involved in the mass incarceration of the Uighur and other Muslim minorities in Xinjiang region, AFP reported. [Full Article...]