Recession fears pushed global stock markets to experience a major decline on August 5, Monday with Japan's Nikkei dropping 13%, STOXX 600 3%, and Nasdaq futures 5%.
Regions
Seized US Canned Food Company Looks to China, North Korea as Russian Sales Crash
Glavprodukt, a U.S.-founded canned food company seized by Russia, shifts focus to China and North Korea as domestic sales plunge.
China Imposes Retaliatory Tariffs on US Imports, Launches Google Antitrust Probe
China retaliates with new tariffs on US imports and launches an antitrust probe into Google amid escalating trade tensions.
Novo Nordisk CEO Faces Investigation After Senate Reveals Ozempic and Wegovy Cost Up to 13 Times More in the US
Novo Nordisk CEO Lars Fruergaard Jørgensen will face a Senate hearing over the high prices of weight loss drugs Wegovy and Ozempic in the US.
China Bans Taiwan’s Fruit and Seafood Imports, Igniting Trade Dispute
China has banned Taiwan’s fruit, seafood, and vegetables imports, escalating tensions over trade and military issues.
Latest News
Chinese President Xi Jinping and Italian Prime Minister Giorgia Melon signed a new trade agreement, citing the history of the Silk Road Route despite Italy's exit from the Belt and Road Initiative.
The European Central Bank announced that it would keep interest rates unchanged but may change by the next quarter.
The European Commission has re-elected its president, Ursula von der Leyen, for another five-year term. The continent is facing crises ranging from the war in Ukraine to climate change to migration to economic issues.
Following the landslide victory of the Labour Party in the United Kingdom’s general election earlier this month, British Prime Minister Sir Keir Starmer laid out the government’s plans to reinvigorate the country’s economy in this year’s State Opening of Parliament.
Russia's attempted assassination plot targeting Armin Papperger, CEO of Rheinmetall AG, a major German arms manufacturer supplying Ukraine, was thwarted by US and German authorities.
Tesla has increased the price of its Model 3 cars in European countries like Germany, the Netherlands, and Spain.
US sanctions have created obstacles for Russian imports of Chinese cars. US sanctions have created obstacles for Russian imports of Chinese cars, which have been crucial for the domestic market in recent years.
As UK IPOs declined, the Financial Conduct Authority (FCA) has proposed new regulations for stock market listings.
The UK Supreme Court's ruling against British Airways on flight delays entitles passengers to compensation for cancellations due to staff illness, potentially benefiting tens of thousands annually.
