Hong Kong’s strict quarantine rules threaten to erode allure of financial hub
Hong Kong’s government is facing growing pressure from business lobby groups to open borders or risk losing executives and investment as it shows no sign of easing one of the world’s strictest quarantine programs.
Germany’s LEG Immobilien considers foreign expansion, merger cast-offs
German property group LEG Immobilien (LEGn.DE) is looking at expanding abroad and would also consider buying flats from Vonovia (VNAn.DE) or Deutsche Wohnen (DWNG.DE) should their merger go through, its CEO told Reuters on Tuesday.
French Q2 growth revised up to 1.1%
The French economy rebounded slightly more strongly than first thought in the second quarter as consumer spending recovered after a coronavirus lockdown, the INSEE official statistics agency said on Tuesday.
McDonald’s, others consider closing indoor seating amid Delta surge in U.S.
Some U.S. fast-food restaurants are closing indoor seating areas or limiting hours of operation because of the spread of the Delta variant of COVID-19, according to franchisees.
Japan’s July factory output slips as COVID-19 hits car production
Japan’s industrial output shrank in July as car production took a hit from a coronavirus resurgence in Asia that has cast doubt over the recovery in the world’s third-largest economy.
China’s economy under pressure as factory activity slows in Aug, services contract
China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth.
Marketmind: Who’s rocking the boat now?
From Fed boss Jerome Powell on Friday to the Cleveland Fed’s Loretta Mester on Monday, the doves have been out in force, sending the dollar to two-week lows, Treasury yields below 1.3% and putting the S&P 500 (.SPX) on track for its longest monthly winning streak since 2018.
Norwegian Air sees travel rebound ending need to seek more cash
Norwegian Air (NORR.OL) said on Tuesday it would not need to raise more cash as easing COVID-19 travel restrictions lifted bookings, although the budget carrier which has emerged from bankruptcy proceedings did not provide a 2021 outlook.
S.Korea drafts aggressive spending plan for 2022, taking debt to 50% of GDP
South Korea’s government on Tuesday unveiled an aggressive spending increase in the final annual budget of President Moon Jae-in’s five-year term, pushing out any prospect of achieving balanced budgets amid a worsening fiscal deficit.
Zoom’s tepid growth forecast takes shine off billion-dollar quarter
Zoom Video Communications Inc (ZM.O) posted its first billion-dollar revenue quarter but signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom, sending its shares tumbling 11%.
