Good morning! Here’s what you need to know today.
Eurozone GDP is coming. We’ll get the Q2 figure for the eurozone’s GDP at 10 a.m. London time (5 a.m. ET). Analysts are expecting a rise of 0.4%, equalling the 0.4% climb see in the first quarter.
Greece could get a bundle of temporary financing if Eurogroup finance ministers can’t agree to the bailout today. Greece could get €6.04 billion ($US6.74 billion, £4.31 billion) euros in bridge financing if euro zone finance ministers cannot agree on the planned third bailout for Athens when they meet on Friday, according to German newspaper Bild, citing a European Commission proposal for the meeting.
After three days of declines, China strengthened the yuan very slightly. China’s central bank on Friday strengthened the yuan currency against the US dollar by 0.05%, the national foreign exchange market said, ending three days of falls after a surprise devaluation.
Goldman Sachs is buying GE Capital’s US online deposit platform. Goldman Sachs Bank USA will buy GE Capital Bank’s US online deposit platform, General Electric Co said. About $US16 billion (£10.25 billion) of deposits will be transferred to Goldman Sachs Bank, GE said.
Corporate taxes are set to be a major item on Washington’s agenda soon. Fixing the tax code for US businesses will be at the forefront when Congress returns from vacation next month, with many lawmakers focusing on “C” corporations, despite new data showing a continuing decline in their numbers.
Investors have recovered more than $US2 billion (£1.28 billion) from major banks over price-rigging. Investors have recovered more than $US2 billion in settlements with nine banks over claims of price-rigging in the foreign exchange market, and are continuing to pursue claims against seven other banks, a lawyer for the plaintiffs said Thursday.
Apple’s live TV service is being delayed. Apple will delay its live TV service to at least next year, Bloomberg reported, citing people familiar with the iPhone maker’s plans. The company had planned to introduce the service, which is delivered over the Internet, this year.
The popularity of Venezuela’s President Maduro is down to less than a quarter. Venezuelan President Nicolas Maduro’s popularity fell to 24.3% in July, hurt by voracious inflation and shortages of goods ranging from spare parts to shampoo, according to respected local pollster Datanalisis.
GM is boosting production of big trucks and SUVs. General Motors is boosting production of its highly profitable large SUVs and trucks to a pace that could result in 48,000 to 60,000 vehicles for the 2016 model year, in a bid to capitalise on rising demand, sources told Reuters.
Asian markets are largely unmoved. Japan’s Nikkei is down 0.36%, Hong Kong’s Hang Seng is up 0.02% and the Shanghai Composite is up 0.63%.