Housing affordability to worsen near-term, even as prices cool off
The sizzling pace of house price rises in most major world housing markets since the pandemic began has likely peaked, but affordability is set to remain stretched or worsen in the next few years, according to Reuters polls of experts.
Australia considering new laws for Apple, Google, WeChat digital wallets
The Australian government is considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple (AAPL.O) and Alphabet’s Google (GOOGL.O).
Euro zone Aug economic sentiment eases but selling price expectations at record high
Euro zone economic sentiment has eased more than expected in August from a record high in July, hit by a sharp drop in optimism in France and the Netherlands, while selling price expectations in industry peaked, signalling inflationary pressure.
Fortescue posts record profit, dividend but cuts management bonuses
Fortescue Metals Group Ltd (FMG.AX) reported its highest ever annual profit and dividend on Monday due to sky-high iron ore prices but senior management received a surprise cut to bonus payments.
China tightens scrutiny on $9.3 trillion fund industry
China’s top securities regulator pledged on Monday to crack down on mismanaged private funds and weed out fake ones, as the government becomes more assertive in dealing with an industry worth 60 trillion yuan ($9.28 trillion).
Japan’s retail sales extend gains but COVID-19 challenges persist
Japan’s retail sales rose for a fifth straight month in July, beating expectations as the consumer sector continued its recovery, although a coronavirus resurgence has cast doubts over the spending outlook.
Oil steadies as Hurricane Ida weakens, OPEC+ in focus
Oil steadied on Monday, giving up most of an earlier rally to a four-week high, as Hurricane Ida weakened after forcing shutdowns of U.S. Gulf oil production, and OPEC+ looked set to go ahead with a planned oil output increase.
Analysis: Powell’s wait-and-see speech reassures some investors
U.S. Fed Chair Jerome Powell’s wait-and-see approach in a much-anticipated address on Friday gave investors and market participants some reassurance that the central bank’s extraordinary efforts to prop up the economy were likely to support riskier assets a while longer.
China’s Sinopec posts $6 bln H1 profit on rebounding oil prices, better demand
China Petroleum & Chemical Corp (600028.SS) on Sunday reported a 39.15 billion yuan ($6.05 billion) net profit for the first six months of 2021 on the back of renewed fuel demand and a rebound in oil prices amid a recovery from the impact of COVID-19.
Australian economy likely already slowing in Q2 before Delta downturn
Australia’s economy was likely already slowing before wide-scale coronavirus restrictions shuttered swathes of business and jobs, setting the stage for a vicious contraction this quarter.
