Chinese President Xi Jinping and Brazil’s Luiz Inácio Lula da Silva said the Global South should wield more influence, in remarks ahead of a summit with other BRICS leaders aimed at boosting their heft on the world stage.
The Federal Reserve could lose credibility if it were to consider changing its 2% inflation target before achieving that goal, Richmond Fed President Thomas Barkin said.
Donald Trump said he will surrender to authorities in Atlanta on Aug. 24 to be booked on state charges that he led a criminal conspiracy to overturn the results of the 2020 election — appearing in state jail just one day after the first Republican debate, which he is not attending.
Chinese President Xi Jinping called on South Africa to join him in boosting the countries’ combined influence on international affairs in the Global South.
European natural gas extended gains as heavy maintenance in Norway adds to volatility in a market already spooked by the threat of strikes in Australia.
Sales of previously owned US homes fell in July to the lowest level since the start of the year, constrained by a lack of inventory and higher borrowing costs.
Amancio Ortega, the billionaire founder of the Zara clothing chain, snapped up a luxury apartment building in Chicago for $232 million to add to his growing US property portfolio.
Charles Schwab Corp. is planning to cut jobs and close or downsize offices to achieve at least $500 million in annual cost savings as the brokerage responds to investor pressure.
Russia’s second-largest oil producer Lukoil PJSC aims to buy out as much as 25% of its shares from foreign investors, using funds accumulated on its bank accounts abroad, Interfax reported citing unnamed people familiar with the situation.
The global market for radio access networks, the gear that handles mobile communications, declined at the fastest pace in almost seven years last quarter, according to a report from Dell’Oro Group Inc, adding bad news to 5G equipment vendors already struggling with sluggish customer demand.
