China Records a Faster-than-Expected Jump in CPI and PPI in July
(National Bureau of Statistics of China) China’s consumer price index rose at an annual basis of 1.0% in July from June, while the producer price index jumped by 9.0%. The…
SMIC and Other Chip Makers Plunge after China Warns Market Speculators
(Bloomberg) Shares of China’s biggest chipmaker Semiconductor Manufacturing International Corp., shed 5% on Monday after Beijing warned market speculators. Hua Hong Semiconductor Ltd. plunged by 5.7%, marking its worst fall…
Gold Under Pressure after Plunge as Investors Read Fed’s Policy Tightening
Gold fell as much as 4% to a four-month low in Asian trading, extending losses from Friday’s close, on better-than-expected non-farm payroll employment. The plunge in gold happened amid low…
Berkshire’s Buffet Slows Buybacks to $6 Billion in Q2, the Lowest in More than a Year
(Bloomberg) Warren Buffet repurchased only $6 billion of Berkshire Hathaway stock in the second quarter despite having $144 billion at his disposal. The sale happens when Berkshire’s stock has been…
Sanderson Farms Nears a $4.5B Sale Deal to Cargill and Continental Grain
(WSJ) Poultry giant Sanderson Farms Inc. is closing on a deal to sell itself to Cargill Inc. and Continental Grain Co. for about $4.5 billion. The deal would value Sanderson…
Lithium Mining Market Expected to Almost Double to $516.22 Million by 2028 from 2020
(Fortune Business Insights) Growing demand for lithium is expected to push the market size to $516.22 million by 2028, with a CAGR of 6% between 2021 and 2028. Global EV…
NFP. Payrolls Jumped by 943,000 in July. Unemployment Rate Eases by 0.5%
(BLS) US total nonfarm payroll employment increased by 943,000 in July, more than expected 845,000 as hiring accelerated amid Covid-19 variant fears. Following the uptick in payrolls, unemployment rate dropped…
Huawei’s Revenue Declined 38% to 168.2 billion Yuan in Q2 Amid Tough U.S. Sanctions
(WSJ) Huawei Technologies Co. Ltd announced a 38% drop in revenue to 168.2 billion yuan in the second quarter as the U.S. sanctions on its smartphone and telecom equipment bite. The…
UK House Prices Surges 0.4% in July, but Annual Inflation Suggests Easing Market
(Halifax) The UK registered an average housing price of 261,221 pounds in July, up 0.4% from the previous month. On a three-month basis, UK house prices were 2.4% higher in…
Maersk’s Revenue Jump 60% to $14.2B in Q2 Driven by High Container Shipping Rates
(Maersk) A.P. Moller-Maersk announced $14.2 billion revenue in the second quarter of 2021, a 60% increase from the same period last year driven by high container shipping rates. The world’s…
GPIF’s Robust Quarter Takes its Total Assets to a Record 191.6T Yen
(GPIF) Japan’s Government Pension Investment Fund, which is the world’s biggest, reaching a record 191.6 trillion yen or $1.75 trillion in assets after a robust quarter. For the quarter that…
U.S. Business Groups Want Biden’s Administration to Renegotiate US-China Trade Deal
(WSJ) Over thirty US business groups are asking Biden’s administration to renegotiate the 2020 Phase One Trade Pact with China and reduce import tariffs. The business groups say that China…
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