China vowed to retaliate against U.S. companies after President Donald Trump threatened to place tariffs on another $200 billion in Chinese imports, deepening a trade dispute between the world’s two biggest economies.
Saudi Arabia’s plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than many other OPEC members.
Asian stocks fell alongside U.S. equity futures and the yen spiked as the U.S. and China engaged in a new round of trade threats. Gold and Treasuries climbed.
On Aug. 20, Greece is due to graduate from its third international rescue program. The country is still saddled with a towering public debt — nearly 180 percent of national income — and Europe’s other governments are divided over how much more relief to grant. Without a sizable package of new concessions, Greece’s debt burden is unlikely to stabilize. Creditors are seeking assurances that the country won’t go back to the spending that brought the economy to the brink of collapse in 2009.
KPMG’s audit work in the U.K. is of an unacceptable standard and the firm will face increased scrutiny, Britain’s accounting regulator said.
Former U.S. Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and central banks should be wary of raising interest rates just to stop inflation running slightly hot.
Volkswagen AG is preparing to name Bram Schot as interim chief at its Audi unit, according to a person familiar with the matter, following the arrest of the luxury brand’s longtime leader Rupert Stadler over his role in VW’s diesel-emissions cheating.
U.K. Prime Minister Theresa May’s big announcement of more money for the cash-strapped National Health Service should have been an easy political win. Instead she’s dug herself in a hole over how to pay for it.
The separatist challenge in Catalonia is the most important issue for Prime Minister Pedro Sanchez as his new government starts to administer Spain, a Bloomberg survey of economists showed.
Good morning Americas. Here’s news and analysis from Bloomberg Economics to help get your week started:
OPEC is discussing a relatively modest production increase before its meeting in Vienna this week, an attempt to bridge the gap between Russia’s push for a big rise and Iran’s insistence that no change is needed.
OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, according to people briefed on the talks.
OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, Bloomberg News reports, citing people briefed on the talks.