Browsing: Business

Wall Street closed higher as Treasury yields fell and healthcare stocks rallied. Bond prices increased following the U.S. Treasury Department’s announcement of expanded liquidity support through larger buybacks of longer-term government debt. Starting September 9, the cap on purchases will rise from $2 billion to a minimum of $4 billion per operation. This adjustment applies to nominal coupon securities within the 10-to-20-year and 20-to-30-year maturity brackets. The larger buyback limits will stay in effect until November 4. The department cited robust volumes of high-quality offers as the basis for increasing liquidity operations in these sectors. Following the announcement, Treasury yields declined, reversing some of the recent upward trend in long-term borrowing costs. The 10-year Treasury yield dropped to approximately 4.65%, while the 30-year yield decreased to about 5.20%. Notably, the 30-year yield had reached 5.337% on Tuesday, its highest point since 2007. Since bond prices move inversely to yields, the improved demand for government debt pushed yields lower, alleviating some of the pressure that had resulted from the recent selloff in long-term bonds.

Gold Declines for the Week as Expectations of Fed Rate Hike Diminish NEW YORK / RankWire.AI/ – Global markets for precious metals experienced downward pressure on Friday, with spot gold prices decreasing and setting the stage for an overall weekly drop. Data from financial markets indicated that spot gold fell 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery declined nearly 1.0 percent to $4,382.50 per ounce. The declines followed a sharp temporary surge on Thursday, when bullion prices reached their highest levels in more than two months before retreating 1.3 percent due to sudden profit-taking.

Global electric vehicle sales expanded by 9% compared to the previous year in July 2026, reaching 1.85 million units. This growth pushed the total number of vehicles sold worldwide in the first seven months to 11.5 million, representing a 4% rise from 2025. Benchmark Mineral Intelligence provided the latest figures on Aug. 13, including data on battery-electric and plug-in hybrid vehicles. The month of July also marked the fifth consecutive month of annual growth in global EV demand following a sluggish start to 2026.

The Ministry of Trade, Industry and Resources noted that exports exceeded the previous July record of US$5.90 billion set in 2023. In comparison, exports in July 2025 amounted to US$5.83 billion. Domestic vehicle sales also experienced a slight rise of 0.5%, totaling 139,000 units, while production increased significantly by 11.3%, reaching 352,000 vehicles.

On Wednesday, diesel prices persisted at high levels as constrained supplies of refined products continued to exert upward pressure on fuel markets across the United States and Europe. U.S. ultra-low sulfur diesel futures surged by 7.4% on Monday, closing at $4.19 a gallon, marking their largest single-day increase since July 13. Early trading on Wednesday saw the contract near $4.28 per gallon, while European diesel refining margins stayed at historically elevated levels after nearly a 10% rise on Monday.

Gold continued its upward trajectory for a third consecutive session on Tuesday, building on the sharp rebound seen last week. Spot gold increased by 1% to reach $4,432.74 an ounce by 0217 GMT, marking its highest point since June 5 and surpassing the seven-week peak recorded the previous week. U.S. gold futures also rose by 1.7% to $4,492.60. This rally followed gains on Friday and Monday, as global bullion markets tracked U.S. economic indicators and interest-rate expectations.

Denmark’s July inflation slowed to 1.7% as consumer price growth eased from June. (AI-generated image) The consumer price index for July reached 102.92, with 2025 established as the base year with an index value of 100. The increase in holiday home rentals and package holidays contributed 1.24 percentage points to the monthly inflation figure. Food prices added 0.15 percentage point, while reductions in clothing, hotel accommodation, and footwear prices collectively decreased the monthly rise by 0.34 percentage point. Rent was the largest factor boosting annual inflation, accounting for a 0.55 percentage point increase. Holiday home rentals contributed 0.51 point, and fuel added 0.39 point. Electricity costs lowered the annual rate by 0.68 point. Food prices decreased it by 0.26 point, and package holidays subtracted 0.06 point. These movements resulted in headline inflation falling below June’s 1.9% figure. Leading the yearly gains are restaurants and transportation Prices for restaurants and hotels rose 8.1% from July 2025, marking the strongest increase among the main CPI categories. Transport costs went up by 5.5%, while information and communication prices increased by 4.6%. Education expenses grew 4.5%, and insurance and financial services saw a 2.9% rise. In contrast, prices for food and nonalcoholic beverages declined by 1.6%, and household

Europe’s extreme heat and drought are adding new pressure to the EU economy in 2026. The bank’s assessment identified four main channels: labour productivity, agriculture, energy production, and transport and logistics. It concluded that a decline in labour productivity alone could reduce EU GDP by about 0.6%, making it the most significant factor. Additionally, the analysis predicts EU agricultural output may decrease by 3% to 7% due to the ongoing heat and drought conditions. Disruptions in power generation, rising electricity prices, and transport issues further compound the estimated economic losses across Europe.

In South Korea, prices for fresh vegetables have surged as ongoing extreme temperatures have curtailed shipments and harmed agricultural output nationwide. Data from Korea Agro-Fisheries & Food Trade Corp. indicated that on Aug. 7, spinach was priced at 1,978 won per 100 grams, marking a 152.3% increase from the previous month. Ten cucumbers were sold for 8,313 won, reflecting a 54.8% rise. Blue lettuce experienced a 41.7% increase, while a zucchini climbed 46.6% to reach 1,504 won.

On Friday, the European Commission completed a significant expansion of the European Union’s leading satellite communications system, marking the end of months of commercial negotiations with the SpaceRISE industrial consortium. The newly signed implementation agreement allows the Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²) program to move from planning to full industrial deployment. This formal deal increases the planned satellite fleet to 348 spacecraft, aimed at bolstering sovereign connectivity, defense, and emergency response functions across member nations.