Markets
S&P reaches record intraday high on bullish housing data
In the minutes of the July Fed meeting, the policy committee not only ruled out immediate and additional policy measures such as the yield-curve control but also suggested an ongoing weak economic backdrop whereby inflation remains persistently low. [Full Article...]
United Kingdom inflation jumps unexpectedly in July to 1%
The average of Canada's three measures for core inflation , which are considered better gauges of underlying price pressures and closely tracked by the Bank of Canada, was 1.6 per cent, staying relatively steady since April. Little demand for travel also led hotel prices to drop by 27 per cent on a year-over-year basis. Ruth Gregory, senior United Kingdom economist at Capital Economics , said ... [Full Article...]
Dems willing to cut relief bill so 2nd Unemployment assistance can happen
The official said the agreement could include funding for the U.S. Postal Service, additional funding for loans to small- and medium-sized businesses to keep workers on their payrolls and potentially added money for schools. Talks on the fifth round of coronavirus relief stalled more than a week ago, in part over disagreement related to the size of pandemic unemployment compensation and aid to cas... [Full Article...]
Apple becomes first United States company to be valued at $2 trillion
Head over to the link below for a closer look at the dummy cases. Dummy cases usually leak around every iPhone release, these units are used by Apple case makers to design their new accessories before the official iPhone announcement. The iPhone 12 is said to have a 5.4-inch display, while the larger standard model is said to have a 6.1-inch display. On the other hand, YouTuber and leakster John ... [Full Article...]
Turkey, US meet to discuss reducing tension in Eastern Mediterranean
Nicosia and Athens seek a tougher stance from Brussels as they argue that Turkey has violated their sovereignty as well as that of the EU. Cyprus had earlier criticized the European Union for adopting an "appeasement policy" when dealing with Turkey, whose ships keep entering Greek and Cypriot waters to explore drilling opportunities. [Full Article...]
Electric vehicle startup Canoo to go public via SPAC
The California company will follow in the footsteps of fellow EV startups Nikola , Lordstown Motors , and Fisker by entering in a so-called "reverse merger" with a special objective acquisition company whose shares are already publicly traded, in this case Hennessy Capital Acquisition Corp. [Full Article...]
Trump tirade sparks fears over US-China trade deal
President Donald Trump said he was behind the decision to postpone trade talks with China last weekend , raising worries about the future of the trade pact with Beijing. While China is making numerous structural changes it promised on issues such as intellectual property protection, its purchases of US goods are well below where they need to be to meet promised targets, and there's nearly no... [Full Article...]
Australia locks in coronavirus vaccine deal as new cases ease
The vaccine, called AZD1222, was developed by Britain's University of Oxford and licensed to AstraZeneca. Morrison said Australia was also looking for other vaccine deals, including with the University of Queensland and its partner, Australian firm CSL Ltd. [Full Article...]