The UN FAO reported low food price index - the lowest in six years. If the situation persists, the price drop will be welcomed by consumers globally, which is also beneficial for poor countries. But the plentiful supplies of these products may also have a negative impact for farmers with prices not enough to cover for production costs.
Tags: China
World stocks mostly higher on steady Yuan, Greece expected bailout
Most of the world stock markets were higher last Monday due to the steady Yuan and the expected bailout of Greece.
New York Manufacturing Index shrinks to -14.92 level; its lowest since 2009
A steep plunge in both new orders and shipments sent manufacturing activity in New York state tumbling down to its lowest level since 2009. This was the revelation showed by a survey conducted by the New York Federal Reserve.
China requires bold structural reforms for new sources of growth: IMF
Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).
US banks lead the equity trading revenues in Q2
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
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Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.
The U.S. coal industry is hit by another major blow as Alpha Natural Resources Inc. will file for Chapter 11 bankruptcy court protection on Monday.
The slowdown in economic growth in major economies is expected to keep the stock markets under four percent annual growth in the near future. The second half of 2015 is expected to be sluggish following the bleak economy outlook for the US, EU and China.
Lens Technology is a $7.2B worth glass screen business in China. The company provides glass screens to top labels like Samsung, Windows and Apple and had made a public offer in March. It is owned and founded by Zhou Qunfei, the richest self-made woman in China who used to work as a factory worker.
China needs to ensure that risks presented by a slowing economy do not morph into social risks, the state planner said on Friday, acknowledging the problems the country faces should unemployment rise.
The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.
France is rethinking its taxi laws with the rising demand for Uber and other online ride-hailing services. France's Economy Minister Emmanuel Macron says key players are meeting next month to re-examine the industry's economic model.
Concerns over China dominated financial markets on Monday, with the biggest fall in Shanghai shares in eight years driving stock markets and prices of major commodities lower across the board.
Senators from both the Republican and Democrat sides of the US Senate have come together to enact legislation that will enhance the powers of the US Department of Homeland Security in order to protect government Internet addresses.
