Daily Brief
15 verified stories from global sources
The US Federal Reserve kept its benchmark rate at 3.50%-3.75% on July 29 in a 9-3 vote, with three policymakers dissenting in favour of raising rates as inflation stayed elevated amid higher energy costs.
US stocks ended a turbulent July on a strong note as blockbuster Big Tech results reassured investors about artificial intelligence spending, even as Treasury yields climbed to multi-year highs.
The Bank of Japan left its policy rate at 1% on July 31 and hinted at a possible September hike, hours after Tokyo appeared to intervene in currency markets to halt the yen's slide near a 40-year low.
South Korea's exports rose about 63% in July to $98.9 billion, the second-highest monthly total on record, as semiconductor shipments topped $40 billion for a second straight month amid the AI boom.
Euro area annual inflation accelerated to 2.9% in July as energy costs jumped, with Germany at 2.8%, reinforcing bets that the European Central Bank could raise interest rates again in September.
Australia's annual inflation slowed to 3.8% in the year to June, with underlying inflation steady at 3.6%, easing market expectations of another Reserve Bank of Australia interest rate rise in August.
Canadian real GDP rose 0.3% in May, beating estimates, and appeared on track for a solid second-quarter rebound, reinforcing expectations the Bank of Canada will keep interest rates on hold.
The Reserve Bank of India's special swap facility has mobilised about $40.8 billion in foreign exchange inflows as of July 31, nearly double the mid-July level, as the central bank works to strengthen the balance of payments.
India is phasing in an upgraded Central KYC framework from August, letting customers reuse verified identity records across banks, insurers and other institutions with their consent to reduce repetitive paperwork.
Blue Motor Finance, a UK motor finance lender, has entered administration, the Financial Conduct Authority confirmed, adding to pressure in a car-loans sector already under intense regulatory and legal scrutiny.
Major UAE lenders reported robust first-half 2026 results, with Emirates NBD posting a record pre-tax profit of AED 16.2 billion and First Abu Dhabi Bank earning AED 10.73 billion, underscoring the sector's resilience.
Allianz has agreed to acquire HSBC's life and health insurance business in Singapore for about €2 billion, gaining an exclusive distribution partnership as it expands in one of Asia's key wealth hubs.
France's Societe Generale reported record first-half 2026 net income of €3.5 billion, upgraded its profitability target and announced a €1.5 billion extraordinary share buyback as cost cuts boosted returns.
UK regulators have proposed a streamlined regime for single-parent captive insurers, offering faster authorisation and lighter capital rules in a bid to bring this type of self-insurance onshore for the first time.
US auto insurance prices have largely stabilised in 2026 after falling in 2025, with the average full-coverage premium near $2,240 a year, though tariffs on vehicles and parts could push repair costs and rates higher.