China reported growth at one of its weakest rates on record, a reading that immediately fed concerns about the outlook for commodities and broader market demand, according to the report. The slowdown helped trigger a sell-off in mining stocks, underlining how closely investors continue to track signs of weakness in the world’s second-largest economy.
The market reaction came alongside a series of other developments across global business and finance, including steadier policy from the Bank of Canada and easing government bond yields, even as the UK 10-year yield remained close to 5%. In the US, factory gate inflation cooled in June, though analysts cautioned that the relief may not last.
In the UK, Thames Water said it had £515m in cash and enough funding to get through to the end of the year, despite debts rising to £18.5bn. Elsewhere in corporate news, Barratt said it would return £400m to investors after home completions reached the top end of its range, while B&M reported worsening sales. ASML raised its forecasts on the back of AI-driven chip demand, and Stripe and Avent made a $53bn offer for PayPal.
The business live coverage also noted a report from China involving BYD and Hungarian politics, after a former foreign minister joined the carmaker in an external affairs role. The move drew fresh scrutiny because of earlier allegations over labour practices at BYD’s new plant in Szeged, its first in Europe.
Source: theguardian.com
