Daily Briefing: - Euro zone's largest economy Germany shrinks in second quarter - Italy's Salvini says citizen's income scheme needs reviewing - paper - China's economy worsens in July, industrial growth at 17-year low
on election fears and the latest Italian government crisis, and anxiety has risen considerably well before we get to likely monetary policy easing next month from the U.S. Federal Reserve and European Central Bank.
Some people’s more- favoured measure of the yield curve – between two years and 10 years – is also flashing amber; it flattened to its lowest level since 2007 yesterday before Trump’s partial retreat and is now close to inverting for the first time in 12 years. The safe-haven yen strengthened again after yesterday’s jump in dollar/yen to 106.80 from lows close to 105. Brent crude oil prices slipped back after surging above $60 per barrel on Tuesday following the trade news.
In corporate news, shares in Schindler were seen opening down 2.5% after the elevator and escalator manufacturer said second-quarter net profit
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Trade fears; Singapore GDP; Hong Kong protestsToday's top business headlines: - Trade war fears linger on Wall Street - US budget deficit rises 27% through July - Report: Starbucks' pumpkin spice latte returns this month - Nike launches subscription service for kids
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Celebrity daily edit: Princess Estelle has fun in the Swedish sun - videoCatch up with your celebrity news of the day in our quick video, starting with the Swedish royals on holiday...
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