Bank of Japan (BoJ) to Trim Growth Forecast, Projects Inflation Near Target

The Bank of Japan (BoJ) is set to revise its growth forecast downward while projecting that inflation will remain around the target level. This adjustment reflects the central bank’s cautious stance on the country’s economic outlook amid ongoing global uncertainties. Japanese banks have also urged the BoJ to halve its monthly bond purchases by 2026, highlighting concerns over long-term financial stability.

Top ECB Official Sounds Alarm on Rising Risks from Shadow Banking

A leading official from the European Central Bank (ECB) has raised concerns about the escalating risks posed by the shadow banking sector. As these non-bank financial entities continue to grow, their potential to impact the broader financial system becomes increasingly significant. The ECB’s warning underscores the need for enhanced regulatory oversight to mitigate systemic risks.

Labour to Allow Ukraine to Use UK Weapons to Strike Russia

In a significant geopolitical development, the UK Labour Party has announced its intention to permit Ukraine to use British-supplied weapons in its defense against Russian aggression. This move marks a strong stance in support of Ukraine’s sovereignty and could have far-reaching implications for international relations and regional stability.

China to Probe EU Trade and Investment Barriers

China has initiated an investigation into trade and investment barriers imposed by the European Union. This probe aims to address and potentially retaliate against restrictive measures that Beijing views as detrimental to its economic interests. The outcome of this investigation could further strain the already tense trade relations between China and the EU.

Honeywell Strikes $1.8 Billion Deal for LNG Business

Honeywell has announced a major acquisition, striking a $1.8 billion deal to expand its presence in the liquefied natural gas (LNG) sector. This strategic move is expected to bolster Honeywell’s energy portfolio and position it for growth in the rapidly evolving LNG market.

Hapag-Lloyd Lifts Earnings View on First-Half Momentum

Shipping giant Hapag-Lloyd has raised its earnings outlook following strong performance in the first half of the year. The company’s robust results reflect favorable market conditions and effective operational strategies, positioning it well for continued success in the global shipping industry.

VW Shares Slip as It Considers Brussels Plant Closure on Weak EV Demand

Volkswagen (VW) shares have declined amid reports that the automaker is contemplating the closure of its Brussels plant due to weak demand for electric vehicles (EVs). This potential closure highlights the challenges faced by traditional car manufacturers in adapting to the shifting dynamics of the automotive market.

Slump in Electric Car Demand Hits Mercedes Sales in Q2

Mercedes-Benz has reported a slump in sales for the second quarter, attributing the decline to weakening demand for electric vehicles. This trend underscores the broader challenges within the EV market and raises questions about the pace of the automotive industry’s transition to electric mobility.