Australia’s $198 Billion Pension Plans London Spending Spree
Australia’s biggest pension fund plans to invest billions of pounds in the UK and Europe and is readying for a hiring spree in London.
Bloomberg Business
China Deflation Provides Limited Relief for Global Central Banks
(Bloomberg) — China’s consumer and producer prices fell together for the first time since 2020, a deflation cycle that could give global central banks some help in fighting inflation in their own countries but signals a worsening outlook in the world’s second-largest economy.
Typhoon Khanun Powers Toward Seoul as Toyota Halts Plant
South Korean authorities warned Typhoon Khanun is on track to deliver an “extremely powerful” impact amid forecasts it will barrel up the country toward Seoul, the capital that’s home to about half the country’s population.
Violent US Storms Have Racked Up Heavy Losses for Insurers in 2023
Severe thunderstorms in the US accounted for most insured losses globally in the first half of the year, according to reinsurer Swiss Re.
Sony Expects Smartphone Rebound Only in 2024 After China Fizzles
Sony Group Corp., the dominant supplier of camera sensors for smartphones, is pushing back expectations for a smartphone market recovery to 2024 at the earliest after gauging worsening demand from China and the US.
July Was the Hottest Month on Record
July was officially Earth’s hottest month on record, causing the Antarctic to shrink at a record pace and the European Union’s earth observation agency to warn of “dire consequences” as extreme weather events grow more frequent and more intense.
ABN Amro Drops as Buyback Delay Offsets Profit Beat
ABN Amro Bank NV slumped in Amsterdam after the bank’s delay of buyback plans outweighed the better-than-expected profit in the second quarter.
UK’s Voter Register Was Hacked. No One Noticed for 15 Months
Hackers were able to access UK voter registers undetected for 15 months, the Electoral Commission said, raising questions about data security even as it played down fears about the impact on elections.
Flutter’s US Unit FanDuel Turns Profit Before NYC Listing
Flutter Entertainment Plc turned a profit at its US business FanDuel in the first half of the year, ahead of a plan to publicly list shares in New York.
Turkey Seeks ‘Expanded’ Grain Deal as Step to Peace in Ukraine
Turkish President Recep Tayyip Erdogan said he aims to revive the Black Sea grain deal with an “expanded scope,” calling on western countries to help turn the initiative into the basis for peace between Russia and Ukraine.