Good morning! Here’s what you need to know.
European growth is slowing. The European Central Bank trimmed its growth forecasts for the coming two years, cutting 2017 and 2018’s GDP growth numbers from 1.7% to 1.6%.
The Houses of Parliament need a refresh. Britain’s lawmakers should move out of London’s iconic Houses of Parliament for six years while the crumbling building is renovated to avert a crisis, a parliamentary report said Thursday.
Funding Circle is dwindling. Marketplace lender Funding Circle halved its lending volume in the US at this start of the year after spotting underperforming loans in an earlier “vintage,” according to the fintech company’s chief risk officer.
Housing bounced back after the Brexit shock. The August RICS survey found that house prices across the UK are expected to rise in the next three months, with housing market activity subdued but stable.
Twitter is giving its CEO more time. Chief Executive Jack Dorsey is expected to be given a few more quarters to execute his turnaround plan and his management will not be questioned at a board meeting.
The BOE is trying to let fintech grow. The Bank of England will not “stifle” innovation in financial technology with new rules as it seeks to get to grips with its impact, a senior central bank official said on Thursday.
The US jobs market is strong. The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to sustained labour market strength even as the pace of job growth is slowing.
A Japanese company needs rescuing. Takata will take initial bids from seven potential rescuers on September 19, as the Japanese air bag maker at the heart of the auto industry’s biggest-ever global recall fights for survival, two people with direct knowledge of the process told Reuters.
The EU wants to build up a combined army. Germany’s defence minister called for a European “defence union” during a visit to Lithuania, where Berlin is preparing to lead a battle group of about 1,000 troops as a deterrence against neighbouring Russia.
Armenia’s leader resigned. Armenian Prime Minister Hovik Abrahamyan tendered his resignation at a government meeting on Thursday, saying the country needed fresh policies, after an economic slowdown this year and outbreaks of violence.