Barclays posts profit slump after hit from costly trading error in the U.S.
Barclays took charges of £1.9 billion for the first half, including £1.3 billion related to its trading blunder in the U.S.
Financial News
Putin’s new gas squeeze condemns Europe to recession and a hard winter of rationing
Ukraine’s President Volodymyr Zelenskyy said the move was tantamount to a “gas war.”
UBS misses expectations; CEO cites one of the ‘most challenging’ quarters for investors in a decade
UBS posted net profit attributable to shareholders of $2.108 billion, below analyst expectations aggregated by the Swiss bank.
Markets face what could be the most important week of summer with Fed, earnings and economic data
There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting.
WHO declares rapidly spreading monkeypox outbreak a global health emergency
The WHO last issued a global health emergency in response to Covid-19 in January 2020.
S&P 500 sheds nearly 1% Friday on Snap-led tech sell-off, but finishes higher on week
The three major averages notched weekly gains, buoyed by notable earnings from American Express, Tesla and other companies.
Asia-Pacific markets mixed as inflation in Japan inches up
Shares in the Asia-Pacific were mixed Friday as investors digest Japan’s inflation data.
Nord Stream 1 resumes gas flows from Russia to Europe after fears of complete cutoff
The operator of Nord Stream 1, a key gas pipeline which runs from Russia to Germany, said it was in the process of resuming flows to Europe.
UK inflation hits new 40-year high of 9.4% as cost-of-living crisis deepens
U.K. inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis.
China holdings of U.S. debt fall below $1 trillion for the first time since 2010
China’s holdings of U.S. debt have fallen below $1 trillion for the first time in 12 years. Rising rates have made Treasurys potentially less attractive.