Daily Brief
15 verified stories from global sources
US central bank officials are signalling comfort with current interest rates after last week's hold, with Philadelphia Fed President Anna Paulson saying policy is mildly restrictive and appropriate to bring inflation back to 2%.
US equities are trading close to record highs as second-quarter corporate earnings come in strongly, with results from major technology companies driving one of the best profit-growth seasons in years.
US drivers are paying more at the pump as the conflict in the Middle East keeps crude prices high, with the national average for regular gasoline around $4.09 a gallon and Brent crude up sharply this year.
The Reserve Bank of India kept its repo rate unchanged at 5.25% with a neutral stance at its August review, while raising its FY27 growth forecast to 6.7% and lowering its inflation projection to 5%.
India's insurance regulator has registered a Prudential-HCL Group joint venture as the country's eighth standalone health insurer, marking its third new insurance registration of 2026 as the sector expands.
The Bank of England held its benchmark rate at 3.75% for a fifth straight meeting, but support for a rate rise grew to three of nine policymakers, a hawkish tilt that has reshaped UK mortgage-rate expectations.
Japanese authorities launched a string of currency interventions to halt a sharp slide in the yen near historic lows, with traders reporting that US authorities helped support the currency for the first time in decades.
The Bank of Japan kept its policy rate at 1% at its July meeting and, in its latest Outlook Report, signalled it will closely monitor yen movements, the effects of artificial intelligence and risks from the Middle East conflict.
South Korea's KOSPI index staged a record-setting rally, reportedly jumping about 18%, as a global technology rebound and optimism over sustained artificial intelligence spending lifted the country's chip-heavy market.
The Monetary Authority of Singapore and the Association of Banks in Singapore have established a taskforce to strengthen cyber and technology resilience across the financial sector against threats amplified by artificial intelligence.
Financial institutions and insurers in the UAE face a 16 September 2026 deadline to align with the country's landmark 2025 Central Bank Law, which consolidates banking and insurance supervision under a single regulator.
French insurer AXA reported a 9% rise in first-half net income to €4.2 billion, with life and health earnings up 11%, and said it expects underlying earnings-per-share growth at the top end of its target range for 2026.
Signs of financial strain are emerging among Canadian borrowers, with mortgage delinquency balances up sharply and insolvencies at multi-year highs, even as the Bank of Canada keeps its policy rate on hold at 2.25%.
Australia's major banks now expect the Reserve Bank to keep the cash rate at 4.35% at its August meeting after inflation slowed to 3.8%, though some economists still see a risk of a further rate rise later in 2026.
Germany's DAX index climbed to a fresh record high in early August, extending a winning streak as encouraging corporate earnings and falling oil prices outweighed geopolitical concerns.