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Latest news from trusted sources around the world

AMP Says Bonds No Longer a Hedge, Cuts From Some Pension Funds
Economy Bloomberg
AMP Says Bonds No Longer a Hedge, Cuts From Some Pension Funds

AMP Ltd., one of Australia’s top asset managers, has ditched bonds from some of its retirement funds with sovereign debt no longer offering the diversification …

Takaichi Eyes India Ties as Relations With China Fray
Economy Bloomberg
Takaichi Eyes India Ties as Relations With China Fray

Exchange rates of both Japan and India are under pressure.

Copper Tracks Dollar Swings as Traders Weigh US Rate Outlook
Economy Bloomberg
Copper Tracks Dollar Swings as Traders Weigh US Rate Outlook

Copper rose on Friday, tracking small swings in the US dollar as investors continue to assess the outlook for US monetary policy.

Economy Financial Times
‘The brakes failed and they’ve crashed the car’: how the Big Four’s …

Australian operations prove an ongoing source of scandal and embarrassment for KPMG, PwC, EY and Deloitte

Vietnam Growth Tops Estimates Despite Trade Risks, Oil Shock
Economy Bloomberg
Vietnam Growth Tops Estimates Despite Trade Risks, Oil Shock

Vietnam’s economic growth beat estimates in the second quarter, while trade grew faster than expected in June and inflation slowed, as one of Asia’s fastest-growing …

Economy Financial Times
Canada unveils plans for new oil pipeline to break dependence on US

Project to supply Asia with 1mn barrels per day is part of push to reduce over-reliance on US amid trade hostilities

Economy Financial Times
India’s Persistent Systems attempts a big acquisition

Also in this newsletter: Deutsche Bank exits India retail business

Gold Heads for First Weekly Gain Since May on Easing Fed Outlook
Economy Bloomberg
Gold Heads for First Weekly Gain Since May on Easing Fed Outlook

Gold headed for its first weekly gain since May as traders dialed down their expectations of Federal Reserve rate hikes.

European Stocks Rally to Cap Best Week Since May: Markets Wrap
Economy Bloomberg
European Stocks Rally to Cap Best Week Since May: Markets Wrap

Stocks rose as the latest round of jitters about the artificial-intelligence trade subsided, with Europe’s benchmark rising to an all-time high. The dollar touched a …

Oil Is Little Changed as Persian Gulf Flows Near Pre-War Levels
Economy Bloomberg
Oil Is Little Changed as Persian Gulf Flows Near Pre-War Levels

Oil prices were little changed in thin trading as the recovery of Persian Gulf flows fomented a new surplus in key parts of the global …

Economy Bloomberg
Consumers Going to Feel 'Less Flush with Cash': Cisar

Winnie Cisar, global head of credit strategy at CreditSights, and Matt Brill, head of North American investment grade credit at Invesco, join Scarlet Fu on …

Economy Financial Times
Blackstone’s QTS ends Virginia data centre project after protests

Proposed campus becomes the latest casualty of growing backlash to the facilities in the US

Economy Financial Times
Lockheed in lead to buy naval tech group Ultra Maritime in $3.5bn …

Agreement for defence company could be announced as soon as early next week

Economy Bloomberg
Fourth of July Cookout Costs Rise 4% Says Stew Leonard's CEO

Stew Leonard Jr., President and CEO of Stew Leonard's grocery stores, discussed the recent 4% increase in the average cost of an Independence Day meal …

Economy Bloomberg
Warsh Using Strategic Ambiguity: Diczok

Matthew Diczok, head of cross-asset market strategy for the Chief Investment Office within Bank of America, Kelsey Berro, fixed income portfolio manager at JPMorgan Asset …

Canada, Philippines Agree to Sign Trade Deal This Year, Grow Defense Ties
Economy Bloomberg
Canada, Philippines Agree to Sign Trade Deal This Year, Grow Defense Ties

Canada and the Philippines plan to finalize a free trade agreement this year, and signed agreements to deepen cooperation on energy, defense, labor and migration, …

Economy Bloomberg
World Cup Muni Spending An Accelerator: Kleinman

Margot Kleinman, head of municipal research & portfolio manager at Nuveen, joins Scarlet Fu on "Bloomberg Real Yield." Municipal bonds helped 11 US World Cup …

Economy Financial Times
US economy undershoots forecasts with 57,000 jobs added in June

Hiring slows after 3-month streak of overperformance

Economy Financial Times
Burnham insists he will be disciplined with UK public finances

Prime minister in waiting says he will stick by Labour’s manifesto promises on tax

Economy Financial Times
Russia unleashes huge bombardment on Kyiv

Attack with 74 missiles and nearly 500 drones follows Zelenskyy’s warning that Moscow was preparing ‘massive strike’

Genuine Parts Said to Receive O’Reilly Interest in Auto Unit
Economy Bloomberg
Genuine Parts Said to Receive O’Reilly Interest in Auto Unit

Genuine Parts Co. has attracted a cash bid for its auto-parts arm from O’Reilly Automotive Inc. as it seeks to refocus on its industrials business, …

Economy Financial Times
Sandwich chain Jersey Mike’s files for IPO as Blackstone eyes windfall

Private equity group targets valuation of up to $12bn for purveyor of cheesesteaks and cold-cut heroes

Economy Financial Times
UK’s culture secretary and department quit X citing concerns over democracy

Move by Lisa Nandy marks first exit of a major cabinet department from the platform

DOJ Probes Alleged Insider Trading Scheme That Stung Susquehanna
Economy Bloomberg
DOJ Probes Alleged Insider Trading Scheme That Stung Susquehanna

The Justice Department is looking into Susquehanna International Group’s allegations that unknown insider traders made $100 million on options bets placed ahead of a recent …

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