EXCLUSIVE Allianz in talks with banks for China asset management venture -sources
Allianz SE (ALVG.DE) is in talks with Chinese banks to set up a majority-owned asset management venture in the world’s second-largest economy, two people with direct knowledge of the matter said, aiming to tap a $4.3 trillion market for wealth products.
European stocks eye worst day in over a month on looming energy crisis
European shares were on Monday set for their worst day in more than a month as worries about tightening gas supplies from Russia, hawkish signals from the European Central Bank and weak economic outlook weighed on investors’ minds.
UK midcaps at three-week low as recession fears grow
UK midcaps hit a three-week trough on Monday while the export-centric FTSE 100 eased from its recent peak on fears of aggressive interest rate hikes by major central banks and slowing economic growth.
Analysis: Democrats score big wins on climate, drugs with $430 billion U.S. Senate bill
Democrats scored a major policy victory when the U.S. Senate passed a $430 billion climate change, healthcare and tax bill that will help reduce the carbon emissions that drive climate change while also cutting drug costs for the elderly.
Ukraine warns of new Russian offensive; Sweden, Finland move closer to joining NATO
Ukraine said Russia had started creating a military strike force aimed at President Volodymyr Zelenskiy’s hometown of Kryvyi Rih, while NATO moved closer to its most significant expansion in decades as the alliance responds to the invasion of Ukraine.
Factbox: Economic sanctions China has imposed on Taiwan over Pelosi visit
China on Wednesday suspended exports of natural sand to Taiwan and halted imports of fruit and fish products from the self-governed island as U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip condemned by Beijing. read more
GLOBAL ECONOMY Factories squeezed by higher prices, weak demand
Factories across Asia and Europe struggled for momentum in July as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, likely adding to fears of economies sliding into recession.
Euro zone inflation hits yet another record high after big jump
Euro zone inflation rose to another record high in July and its peak could still be months away, keeping pressure on the European Central Bank to opt for another big interest rate increase in September.
‘Recession is in the air’: German economy stagnates in 2nd quarter
The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic and supply disruptions bringing Europe’s largest economy to the edge of a downturn.
Analysis: U.S. LNG exports to Europe on track to surpass Biden promise
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism.
