Summary: Chinese Yuan falls as economic indicators reveal further slowdown. Industrial output growth slower than June and below expectations. Mobile sales also underperform expectations. Unemployment rate rises to 5.3%, posing challenges for Chinese economy. People's Bank of China cuts one year loan rate and considers stamp duty reduction. US dollar strengthens against offshore Chinese yuan. Technical analysis suggests potential trends in the foreign exchange market . ...

Summary: China 's Evergrande , a major property developer, has filed for US bankruptcy protection amidst ongoing restructuring efforts. Trouble in China 's property market extends beyond Evergrande , with other developers also facing financial challenges . Country Garden, a significant developer, is struggling to make bond interest payments due to unfinished projects and mortgage payment issues. China 's economy is grappling with deflation, reduced growth, trade challenges, and central bank interventions. ...

Eurovision 2023: Decision to ban Volodymyr Zelenskyy from making address 'disappointing' So, very good morning to you, and I do want to talk about Eurovision in just a moment. But before we get on to that, a couple of stories around today that I want to ask you about. Firstly, comments by the former Conservative Home Secretary, Preeti Patel today, saying that Rishi Sunak needs to offer more hope and optimism for conservatism, or she says he risks presiding over a managed decline of the party and defeat of the next election. Is she right? So, you know, I have a marginal seat. I am reliant on the grassroots of the party to help me. They are determined, as I am, and I think most people within the party, to support the Prime Minister in the endeavours that he has to try and grow the economy and tackle the issues that are the people's priorities. So, I think what they want us t...

Summary: China's economy experiences deflation as consumer prices decline in July, a rare occurrence in over two years. Deflation refers to a sustained drop in prices, indicating weak demand and economic challenges. China's consumer price index showed an annual decrease of minus 0.3%, partially attributed to stabilized pork prices. China's economic authorities are under pressure to take active measures to stimulate the economy and boost domestic demand . The global impact of China's deflation includes potentially cheaper Chinese products abroad, but also limited access to the Chinese market due to weak demand . ...

Summary: The UK economy faces concerns as initial data shows an unexpected rise in June's inflation rate to 4.2%. Job numbers indicate potential hesitance by the Bank of England in raising interest rates . Unemployment reaches levels not seen since October 2021 amid recent events like Wilco's administration. Average hourly earnings grew by 8.2% in June, aligning with expectations of further interest rate increases. The uncertain monetary policy outlook hinges on upcoming consumer price inflation figures. Sterling reacts positively to data release, impacting currency performance. Future economic trajectory depends on up...

Summary: German PMI services plunge from 52.3 to 47.3, while manufacturing PMI improves slightly from 38.8 to 39.1. Economists warn about the possibility of stagflation in Germany 's services sector, requiring ECB to consider rate hikes. Eurodollar chart shows Euro weakening against the US dollar, with implications tied to the upcoming Jackson Hole symposium . Germany 's position as the Eurozone's largest economy intensifies the impact of these economic developments. ...

Tata Group to Invest £4 Billion in UK Electric Car Battery Factory, Creating Thousands of Jobs Summary: Tata Group announces £4 billion investment in a new UK electric car battery factory. The investment is expected to create thousands of jobs and make the factory one of Europe's largest battery production facilities. Chancellor Rishi Sunak praises the investment as a 'fantastic vote of confidence' in the UK economy. Factors influencing Tata's decision include the quality of skilled workers, the competitive tax regime, and supportive government policies. The location of the Gigafactory is yet to be disclosed. Prime Minister remai...

China's Xi Jinping tightens grip with unprecedented third term In one of China's grandest locations, it's staged one of its grandest shows. Nearly 3,000 delegates from across the country gathered here for China's version of the opening of parliament. Access in here is rare, controlled as it is closely guarded. In perfect unison, they welcomed their leader. Xi Jinping didn't take the lectern himself, but in a way, this weekend was all about him. His Cabinet of Allies confirmed his third term as President ratified. But listen closely to his outgoing second in command, just a hint that it's not all been plain sailing. The economy maintained stability in overcoming difficulties, and the main development tasks of the year were basically completed in a complex environment with many changes. The Chinese economy has shown strong resilience. In theory, they vote on le...

Summary: Retail sales in the UK increased by 0.7% in June 2023 compared to the previous month, but were down by 1% compared to June 2022, indicating a gradual slowdown. Consumer confidence in July showed a decline, attributed to rising interest rates, fiscal drag, and reduced disposable income. Small businesses face challenges due to the cost of doing business, including higher interest rates, inflation, and the highest tax burden in 70 years. The UK government borrowed £18.5 billion in June 2023, with a significant portion going towards paying interest on previous debt. Debates arise about the sustainability of government borrowin...

Summary: China's deflation could lead to cheaper import s globally, potentially benefiting the UK's consumer market. UK inflation may receive some relief from cheaper Chinese import s, but ongoing challenges persist. Sustained deflation in China might hinder UK exporters due to delayed spending and slower market growth. Global trade, consumption, and commodity prices could be significantly affected by a slowdown in China's economic growth. ...

Summary: FTSE 100 reaches 10-day highs despite mining company struggles. Mining stocks, including Anglo-American , Rio Tinto , Glencore , and Antepagasta , perform poorly due to concerns about global growth and Chinese economy . Wilco faces business-saving uncertainty leading to potential store closures and job layoffs. Virgin Media 's broadband contracts draw attention, potential for unlimited price rises under scrutiny. Positive news from PureGym as half-year revenue increase s alongside growing membership. Nvidia shares surge as chipmaker...

Summary: Chancellor Rishi Sunak admits inflation is not declining as fast as desired but asserts progress is being made. Sunak emphasizes the importance of bringing down inflation to alleviate financial pressures on citizens and lower interest rates. Practical assistance for homeowners includes the mortgage charter, enabling options like extending mortgage terms or switching to interest-only mortgages. Sunak's determination to make responsible decisions and protect citizens' equity aims to prevent people from losing their homes. ...

Summary: A new analysis links the recent heat waves in southern Europe and North America to human-induced climate change, providing evidence that the conditions for widespread wildfires are a result of global warming. The study warns that with just over one degree of average global warming, the current weather events are already becoming more frequent, and the situation will worsen if the planet reaches two degrees of warming. The impact of these wildfires extends beyond environmental damage, affecting tourism, agriculture, trade, and the wider economy in the regions. The findings highlight the urgent need for decisive action to add...

Windsor Framework has received a 'cautious welcome' in Northern Ireland All right, let's get the view now of Michelle O'Neill, because this time last week all the talk was of the PM's deal with the EU over the Northern Ireland protocol. This seemed to get a decent enough reaction from most parts, but of course the big question is what do the DUP do, the largest unionist party in Northern Ireland? They say they won't rejoin power sharing if they're not happy. Well, the largest party at Stormont is Shinfeng, and its leader there would have been First Minister. That's Michelle O'Neill. She joins us live now. Thank you very much for being on the programme this morning. Has Rishi Sineq negotiated a good deal for Northern Ireland? Well, I think we've all had the best part of a week now to reflect on the deal, and I think it's fair to say that the ...

Emergency coal power used for Britain's coldest night of the year As the coldest night of the year approaches, Britain is shivering. Arctic air dropping down from the north and set to stay for days. It's putting pressure on our electricity system, the national grid, for the first time this winter, activating emergency coal units that have been standing by in case of a shortage. The challenge we often face on very cold days is getting through the short but intense period of demand as everyone gets home from work and school. That's millions of households putting the kettle on, turning the heating up and making an evening meal all at the same time. When it's windy, we usually make more than enough power to cover that, but right now it's relatively still. Imports from Europe via subsea connectors can also help, but France, a major partner, has had limited supplies beca...

Ukraine War: 'Executed' soldier video could be a war crime President Zelensky has promised that Ukraine will find the Russians allegedly responsible for shooting dead an unarmed Ukrainian soldier. Footage emerged online yesterday, purportedly showing the killing and a warning that we're about to show the moments leading up to that incident. In it, an unarmed man is seen smoking a cigarette before saying, Glory to Ukraine. The man is then shot repeatedly. Sky News has been unable to independently verify the location and date of the footage. But Ukraine says the man killed is thought to be Ukrainian serviceman called Timofey Shadora, who went missing in the area around the heavily contested city of Bakhmut in early February. A video appeared today showing how the occupiers brutally killed a soldier who bravely said to their face, Glory to Ukraine. I want all of us together...

Summary: BRICS , a group of developing countries including Brazil, Russia, India, China , and South Africa, is expanding and gaining influence on the global stage. The organization faces challenges in balancing its economic goals with geopolitical considerations and maintaining relations with Western powers. China 's role in BRICS raises questions about the organization's direction and potential anti-Western stance. BRICS seeks to share global power with other middle powers and redefine the global order. ...