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Asian shares took a breather. Stocks stepped back from a one-year high on Wednesday after the influential New York Federal Reserve Bank president said the Fed could raise interest rates as soon as September, prompting investors to pause after rallies in recent weeks.
The US could raise rates soon. The Federal Reserve could possibly raise US interest rates as soon as next month as the labour market tightens and as evidence builds of wage gains, influential New York Fed President William Dudley said.
Deutsche Bank executives might go a second year without a bonus. The lenders top management should waive executive bonuses for a second year if the lender’s results remain poor, retail bank head Christian Sewing told Bild in comments published on Wednesday.
Russia is still fighting Google. Russia’s state anti-monopoly watchdog FAS said it and Alphabet’s Google had failed to reach an out-of-court settlement in a case over Google’s Android operating system, Interfax news agency reported.
The US economy is improving. US industrial production rose more than expected in July, increasing 0.7% last month after a downwardly revised 0.4% increase in June.
A German diplomat told the UK to get on with Brexit. Germany’s European Affairs Minister held out the possibility of Britain achieving “special status” in its relationship with the European Union but pressed London to get on with starting talks on leaving the bloc early next year.
The UK is getting a huge offshore wind investment. Britain has given planning permission for Dong Energy’s Hornsea Two wind farm project in the North Sea, paving the way for expansion of the world’s largest offshore wind project.
China will hit its targets. China is confident of reaching its official consumer inflation target of around 3% this year, the country’s top economic planner said.
There could be a mega-merger in Germany. German chemicals giant Bayer may launch a hostile takeover bid for US seed and pesticide maker Monsanto if its latest friendly offer falls through, business daily Handelsblatt reported.
Brexit is bad news for pay. Reducing immigration will result in a small pay rise for certain jobs, but the negative economic hit to wages from Brexit will be between five and 10 times greater,according to a report from influential think tank the Resolution Foundation.
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