News Wire

Gold soars to record high as virus fears lift safe-haven demand

11h32 Gold prices surged to an all-time high on Monday as fears about the economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the U.S. dollar.  Full story

Currencies edge down as PMI data signal modest recovery

12h06 Most Central European stock indices firmed while currencies eased on Monday as fresh PMI data from the region indicated a modest recovery from the effects of coronavirus-induced lockdown measures. Polish manufacturing. . .  Full story

Europe cushions workforce as US lifeline runs threadbare

12h03 - While millions of U.S. workers thrown into unemployment by the coronavirus pandemic fret about feeding their families, idled German airline purser Marco Todte is mainly concerned about his next vacation.. . .  Full story

Serbian purchase of missile defence system shows ties deepening with China

12h03 Serbia has bought a new generation of medium-range, radar-guided surface-to-air missiles from China in a new sign of deepening cooperation between Beijing and Belgrade.. . .  Full story

Oil falls as OPEC+ set to boost output

11h49 Oil prices fell on Monday on fears about the economic fallout from rising COVID-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts. . .  Full story

Strain on global manufacturing eases as euro zone returns to growth

11h46 Euro zone manufacturing activity expanded modestly last month, its first growth since early 2019, and Asia's pain eased as the contraction slowed in export-reliant nations, adding to hopes the sector is emerging from the hit. . .  Full story

Japan's Seven & i seals $21 bln deal for Marathon Petroleum's Speedway gas stations

11h36 The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp's Speedway gas stations for $21 billion, brushing aside coronavirus concerns to return to the table five months after initially baulking at. . .  Full story

Algeria allows first Islamic finance products by state banks

11h33 Algeria said on Sunday it had given the go-ahead to a plan aimed at offering Islamic finance services, as it seeks new funding sources to cope with financial problems caused by. . .  Full story

Zoom to shift to 'partner-only' model in China, suspend direct sales

11h31 Zoom Video Communications will shift to a partner-only model in mainland China from Aug. 23, suspending direct sales to all customers in the region, the company said on Monday.. . .  Full story

-Australia's Melbourne clamps down in frantic bid to curb virus

11h22 Australia's second-biggest city, Melbourne, already under night curfew, announced fresh restrictions on industries including retail and construction on Monday in a bid to contain a resurgence of the coronavirus.. . .  Full story

Insurer Hiscox hit by cost of cancelled holidays and sports events

11h22 Hefty payouts for sports events and holidays cancelled due to the coronovirus crisis helped send insurer Hiscox deep into the red on Monday and pummelled its shares to their lowest in more than two. . .  Full story

Cerberus has serious doubts about candidate for Commerzbank chair

11h18 Cerberus, one of the largest investors in Germany's Commerzbank, said it had grave concerns about Hans-Joerg Vetter, a candidate to take over the chair of the lender's supervisory board, and had its own names to. . .  Full story

SoftBank spent $3.8 billion on buybacks in July, August

11h09 SoftBank Group Corp on Monday said it spent 398 billion yen ($3.8 billion) buying back 63.2 million shares between July 1 and Aug. 3, part of a repurchase programme that has helped lift its. . .  Full story

UK aerospace supplier Senior swings to loss, hit by pandemic

11h02 British aerospace supplier Senior Plc swung to a first-half loss and shelved its interim dividend on Monday as costs rose and its sales were hit by coronavirus-driven production cuts across the air industry.. . .  Full story

Indonesia Q2 GDP seen shrinking 4.61% y/y, weakest since 1999

11h01 Indonesia's economy likely posted the biggest contraction in more than two decades in the second quarter, as measures taken to combat the coronavirus pandemic hit most sectors, a Reuters poll showed on Monday.. . .  Full story

European stocks grind higher as euro zone data offsets HSBC warning

11h00 A surge in German stocks lifted the broader European market on Monday after the country reported an expansion in monthly factory activity for the first time since 2018, but a warning from Europe's biggest. . .  Full story

Mall operator Hammerson plans rights issue and disposal to ride out crisis

10h58 Debt-laden British Mall operator Hammerson is drawing up plans for a possible rights issue and is in advanced talks on the sale of its stake in discount shopping outlets joint venture to help it. . .  Full story

South Africa's rand leads EMEA FX losses ahead of data-heavy week

10h50 Emerging market currencies retreated on Monday as rising coronavirus cases and concerns over the U.S. economy weighed on investor sentiment, while most stocks inched higher.. . .  Full story

HSBC profit plunge hits FTSE 100, offsets bounce in factory activity

10h48 A slide in HSBC shares sent the FTSE 100 to its lowest since mid-May on Monday, with investors also looking past a jump in domestic factory activity as COVID-19 cases surged.. . .  Full story

Buy, sell, repeat! No room for 'hold' in whipsawing markets

10h48 Warren Buffett's favourite holding period -- forever -- has few fans these days, with the average length of time shares spend in a portfolio hitting record lows this year as investors surf wild market. . .  Full story

U.S. gridlock over stimulus keeps stocks muted, dollar edges higher

10h47 World stocks began August cautiously as U.S. lawmakers struggled to agree a new stimulus plan following a global surge of COVID-19 cases, though a squeeze on crowded short positions left the dollar clinging to. . .  Full story

Lebanon's foreign minister quits over lack of "will to reform"

10h38 Lebanon's Foreign Minister Nassif Hitti resigned on Monday over what he described as lack of political will to reform as his nation wrestles with a financial crisis posing the biggest threat to stability since. . .  Full story

Poland fines Gazprom $57 mln over Nord Stream 2

10h37 Poland's anti-monopoly watchdog UOKiK said on Monday it had fined Gazprom 213 million zloty ($57 million) for lack of cooperation in its proceedings with regard to the Nord Stream 2 pipeline project.. . .  Full story

Sterling holds above $1.30; focus on COVID-19 cases and Bank of England

10h35 The pound was steady on Monday, strengthening versus the euro and holding above $1.30, as investors weighed the government's strategy of local lockdowns and looked ahead to the Bank of England's policy meeting on Thursday.. . .  Full story

Microsoft nears big bet on TikTok after risky LinkedIn deal shows promise

10h33 Microsoft Corp's potential acquisition of short-video app TikTok carries myriad risks, thrusting it into the politically fraught social media business and Sino-U.S. conflict amid increased scrutiny of big-tech companies.. . .  Full story

Hong Kong shares end lower; HSBC drags after profit slump

10h31 Hong Kong shares closed down on Monday on weak global sentiment, with U.S. lawmakers struggling to agree to a new stimulus plan, and after a bigger-than-expected drop in profit at HSBC pulled the bank's. . .  Full story

UK factory output grows at fastest rate since 2017 - PMI

10h30 British manufacturing output grew at its fastest pace in nearly three years in July as factories reopened and demand began to pick up after the coronavirus lockdown was eased, a closely watched business survey. . .  Full story

Dollar rallies after worst month in decade

10h14 The dollar rallied against a basket of rivals on Monday as a squeezing out of crowded short positions combined with safe-haven demand gave the currency some respite after its worst monthly performance in a. . .  Full story

Philippines in tailspin as remittances plunge, lockdown extended

10h13 Philippine stocks tumbled on Monday as data showing a plunge in May remittances accelerated a sell-off initially fuelled by concerns over a lockdown extension in and around the capital. The benchmark. . .  Full story

Swiss manufacturing rebounding from slump - PMI data

10h07 Switzerland's manufacturing sector has started to overcome the problems triggered by the coronavirus shutdown, data published on Monday showed, although the road ahead will be tough.. . .  Full story

How the next WTO chief will be chosen and the task ahead

10h07 Eight candidates from Mexico to Moldova are bidding to become the next director-general of the World Trade Organization to replace Roberto Azevedo, who steps down at the end of August.. . .  Full story

Greek manufacturing shrinks in July, foreign orders weaken- PMI

10h02 Greek manufacturing activity contracted slightly faster in July, with output and new orders declining as uncertainty over the novel coronavirus pandemic weighed on domestic and foreign client demand, a survey showed on Monday.. . .  Full story

Euro zone factory activity bounced back to growth in July - PMI

10h00 Manufacturing activity across the euro zone expanded for the first time since early 2019 last month as demand rebounded after more easing of the restrictions imposed to quell the spread of the new coronavirus,. . .  Full story

Norway's July PMI slips to 43.3 points, signals industry weakness

10h00 The outlook for Norway's manufacturing industries fell in July as orders and output levels declined, a key business survey showed on Monday. The DNB Purchasing Managers' Index decreased to 43.3. . .  Full story

Proponent of Abenomics blasts Japan's tourism campaign as pandemic rages on

09h57 Japan's multibillion-dollar campaign aimed at reviving domestic tourism is ill-timed and not the best use of taxpayer money, said Yutaka Harada, a former central bank board member and vocal advocate of premier Shinzo Abe's "Abenomics". . .  Full story

German factories post first growth in activity since Dec 2018 - PMI

09h55 German manufacturers saw in July an expansion in activity for the first time since December 2018, a survey showed on Monday, signalling that a recovery in the sector remains on track.. . .  Full story

HSBC warns loan losses could hit $13 bln as profit plunges 65%

09h54 HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to $13 billion this year and said its profits more than halved, as the coronavirus pandemic hammered the bank's retail and. . .  Full story

Spain's international tourist arrivals drop 98% in June

09h52 International tourist arrivals to Spain fell 98% year on year in June, official statistics released on Monday showed, as the country continues to reel from the effects of the global coronavirus pandemic.. . .  Full story

French manufacturing picks up in July but new orders stagnate -PMI

09h50 French manufacturing activity picked up a touch in July although new orders remained stagnant, a monthly survey showed on Monday, as the euro zone's second-biggest economy feels the impact of the COVID-19 pandemic.. . .  Full story

Italian manufacturing activity rebounds in July - PMI

09h45 Italian manufacturing activity rebounded in July, hitting its highest level since June 2018, a survey showed on Monday, raising hopes that the economy was on the road to recovery following the coronavirus lockdown.. . .  Full story

China shares rise on upbeat factory data, tech boost

09h37 Chinese shares ended higher on Thursday, underpinned by gains in tech stocks, as strong domestic factory data for July added to signs of an economic recovery from the coronavirus outbreak.. . .  Full story

Poland plans to merge utilities, carve out coal - minister

09h32 Poland plans to merge its three utilities PGE, Enea and Tauron into two groups as part of a planned reform of its coal and energy industry, its deputy prime minister was quoted saying by Dziennik. . .  Full story

Thai central bank seen holding key rate at record low to preserve ammunition

09h29 Thailand's central bank is widely expected to leave its key interest rate unchanged at a record low after three cuts this year to help cushion the economic impact of the coronavirus pandemic, a Reuters. . .  Full story

SocGen posts second straight quarterly loss as it readies trading business revamp

09h26 Societe Generale SA (SocGen) reported a 1.26 billion euro ($1.48 billion) second-quarter loss on Monday, as it booked a writedown on the value of its trading business that it seeks to revamp.. . .  Full story

Brief fire kills worker at Russia's Nornickel power plant

09h25 A fire broke out briefly due to a short circuit at Norilsk Nickel's power station in the Arctic on Monday, killing one worker, the company said in a statement.. . .  Full story

German bond yields rise from two-month lows in busy week

09h24 German government bond yields rose from the more than two-month lows hit in the previous session as the market steadied after a selloff in risky assets on Friday.. . .  Full story

Copper hits 3-week low as dollar firms, virus fears weigh

09h23 London copper touched a three-week low on Monday, as a slightly stronger dollar and fears over surging coronavirus cases weighed on prices even after a survey showed China's factory activity expanded at the fastest pace. . .  Full story

Asia gasoline profits burn away to nearly nothing as pandemic rages

09h20 Asia's gasoline refining margins nearly burned up in July, dropping to just above zero in the worst profit performance for refined fuels over the month as a new wave of coronavirus infections walloped demand. . .  Full story

Australia's Victoria state imposes new lockdown measures

09h16 Australia's second-most populous state Victoria entered its first full day under stricter lockdown measures on Monday, after declaring a state of disaster and imposing a nightly curfew in the state capital Melbourne, to fight a. . .  Full story

Nikkei rebounds on Wall Street gains, yen's retreat

09h16 Japanese shares snapped six consecutive sessions of losses on Monday, as markets tracked Wall Street's Friday rally on strong earnings reports, and the yen retreated from a 4-1/2-month high against the dollar.. . .  Full story

Spanish factory activity grows in July after three-month lockdown -PMI

09h15 Spanish factory activity expanded in July, rebounding from its worst slowdown in almost 12 years as the economy revived after the government ended one of Europe's strictest coronavirus lockdowns a month earlier, a survey showed. . .  Full story

S.Korean stocks end flat as stalled U.S. stimulus offsets data optimism

09h14 Round-up of South Korean financial markets:. . .  Full story

Nordex shares jump on $474 mln project pipeline sale

09h03 Shares in wind turbine maker Nordex jumped 12.8% in pre-market trade on Monday after the group agreed to sell most of its project development pipeline to RWE for 402.5 million euros ($474 million).. . .  Full story

Polish manufacturing rebounds in July as economy unfreezes -PMI

09h00 Polish factory activity grew steadily in July as the easing of coronavirus restrictions lifted output, new orders, exports and purchasing, pushing the IHS Markit Purchasing Managers' Index (PMI) above 50 for the first time since. . .  Full story

TUI boosts finances with $226 mln sale and leaseback on 737 MAX jets

08h59 Germany-based holiday company TUI said it agreed a sale and leaseback deal for five new Boeing 737 MAX-8 aircraft with BOC Aviation, raising $226 million to help boost its finances.. . .  Full story

German finance minister opposes extension of VAT cut - SWR

08h58 German Finance Minister Olaf Scholz on Monday said he was opposed to an extension of a temporary cut of the value added tax meant to stimulate the pandemic-hit economy, public broadcaster SWR reported.. . .  Full story

Australia shares end flat as investors brace for business closures

08h56 Australian shares ended flat on Monday as investors fretted that further virus-led business closures in the country's second-largest state could assuage hopes of a quick economic rebound from the pandemic-induced recession.. . .  Full story

UK Stocks-Factors to watch on Aug. 3

08h49 Britain's FTSE 100 index is seen opening 23 points higher at 5,921 on Monday, according to financial bookmakers, with futures down 0.3% ahead of cash markets open.. . .  Full story

China's yuan forwards hit highest since late 2017

08h36 China's yuan forwards hit a more than 2-1/2 year high on Monday, driven by expectations of a widening yield gap between the world's two largest economies.. . .  Full story

China opens anti-dumping probe on U.S. polyphenylene ether imports

08h29 China's commerce ministry said on Monday it has started an anti-dumping probe into imports from the United States of polyphenylene ether, a polymer prized for its heat resistance and used in the automotive and. . .  Full story

India's c.bank likely to cut rates despite inflation risk

08h18 India's worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures.. . .  Full story

Russian manufacturing activity shrinks faster in July - PMI

08h00 Activity in the Russian manufacturing sector shrank faster in July as the crisis sparked by the novel coronavirus and poor demand weighed, the Markit Purchasing Managers' Index (PMI) survey showed on Monday.. . .  Full story

Trump gives Microsoft 45 days to clinch TikTok deal

07h59 President Donald Trump only agreed to allow Microsoft Corp to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on. . .  Full story

Indonesia allows oil and gas investors to pick their own contract options

07h58 Indonesia announced over the weekend that it had made revisions to a 2017 law that will give oil and gas investors more flexibility when choosing their contract options for exploration.. . .  Full story

JGBs fall as risk appetite returns, 10-year sale in focus

07h57 Japanese government bond prices fell on Monday due to a return of risk appetite and the yen's pullback, curbing demand for safe-haven debt.. . .  Full story

Latest on the worldwide spread of the coronavirus

07h09 Australia's second-biggest city Melbourne entered its first day of tougher restrictions and the Philippines decided to reimpose a stricter lockdown in and around the capital, reflecting worries about getting the coronavirus pandemic under control.. . .  Full story

Yuan holds steady after posting best month in nine, market monitors TikTok developments

07h05 The yuan was steady on Monday after booking its best month in nine in July, as investors kept a wary eye over tensions between Beijing and Washington and the fate of popular short-video. . .  Full story

India's factory activity contracted at a sharper pace in July

07h00 India's factory slump deepened in July as renewed lockdown measures to contain surging coronavirus cases weighed on demand and output, raising the chances of a sharper economic contraction, a private business survey showed on Monday.. . .  Full story

Coffee prices seen rising slightly by end-2020 despite higher surplus

07h00 Coffee prices, both for arabica and robusta futures, are seen rising slightly by the end of 2020 from current values despite an overall view of a larger surplus in the 2020-21 season, a Reuters. . .  Full story

China stocks rise as expanding factory activity boosts recovery hopes

06h44 Chinese shares rose on Monday as new data underscoring strong growth in factory activity bolstered hopes that China's economy has bounced back faster than expected from the shock of the coronavirus outbreak.. . .  Full story

Indonesia's June foreign visitor arrivals down 88.8% y/y - stats bureau

06h43 Foreign visitor arrivals in Indonesia in June dropped 88.8% from a year earlier to 160,300, as the coronavirus pandemic disrupted global travel, data from the statistics bureau showed on Monday.. . .  Full story

Australia's Genex Power clinches investment from J-Power, shares jump

06h38 Australia's Genex Power Ltd said on Monday that Japan's J-Power would invest as much as A$25 million ($17.8 million), finalising a deal that secures funding for Genex's equity component of the Kidston pumped hydro project.. . .  Full story

Philippine economy fears as coronavirus curbs reintroduced

06h27 The Philippines stock market tumbled on Monday after the government reimposed coronavirus lockdown measures in and around Manila in response to fresh outbreaks, dashing hopes of a swifter economic recovery.. . .  Full story

Indonesia's July inflation rate eases to 1.54% -stats bureau

06h21 Indonesia's inflation rate eased in July as consumption remains sluggish amid the novel coronavirus outbreak, falling further from the central banks target range, data from the country's statistics bureau showed on Monday.. . .  Full story

Japanese shares rebound on Wall Street gains, yen's pullback

05h41 Japanese shares snapped six consecutive sessions of losses on Monday, as markets tracked Wall Street's Friday rally on a flurry of strong earnings reports, and the yen retreated from a 4-1/2-month high against the dollar.. . .  Full story

Wheat falls 1% on global stockpiles, tepid demand

05h19 U.S. wheat futures fell as much as 1% on Monday as ample supplies and concerns over international demand weighed on prices.. . .  Full story

S.Korea stocks fall as stalled U.S. stimulus weighs on PMI, trade data optimism

04h56 Round-up of South Korean financial markets: ** South Korean shares inched down on Monday, as dented hopes over the U.S. stimulus plan and a global surge. . .  Full story

Most Asian currencies little changed; Taiwan dollar advances

04h14 The following table shows rates for Asian currencies against the dollar at 0211 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous. . .  Full story

Australia shares hit over 1-month low as Victoria imposes harsh virus curbs

03h52 Australian shares fell to a more than one-month low on Monday, dragged down by financial stocks, as the country's second-most populous state imposed its strictest movement restrictions yet to curb an uptick in COVID-19. . .  Full story

China factory activity expands at fastest pace in nearly a decade-Caixin PMI

03h45 China's factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey. . .  Full story

Australian job advertisements rebound 16.7% in July - ANZ

03h30 Australian job advertisements rebounded strongly for a second month in July as the economy re-opened, though ads were still down on a year earlier as Victoria was hit by a fresh coronavirus lockdown.. . .  Full story

ADB sees pandemic slashing 2020 global remittances by over $100 bln

03h30 Remittances across the world could decline by $108.6 billion this year as job losses mount and employers trim payrolls amid a COVID-19 pandemic that has devastated economies, according to a report by the Asian Development. . .  Full story

Nichiigakkan shares surge after Bain Capital sweetens offer price

03h22 Shares of Japanese nursing home operator Nichiigakkan Co surged more than 8% on Monday after U.S. investment firm Bain Capital made a sweetened $1.2 billion offer.. . .  Full story

Lord & Taylor files for bankruptcy in latest retail casualty of coronavirus pandemic

02h58 Venerable U.S. retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled. . .  Full story

Australian house prices fall for third month in July-CoreLogic

02h39 Australian home prices eased for a third straight month in July as the reimposition of a coronavirus lockdown in Victoria weighed on the Melbourne market and consumer sentiment generally.. . .  Full story

S.Korea's factory activity shrinks for 7th month but recovery in sight - PMI

02h31 South Korea's manufacturing activity shrank at a much slower pace in July, signalling that a gradual recovery in demand is gaining momentum on easing lockdowns, although the resurgence in infections remained a risk.. . .  Full story

Slower decline of Japan's July factory activity raises recovery hopes - PMI

02h30 Japan's factory activity contracted at the slowest pace in five months in July, in a sign that pressures on manufacturers were easing somewhat and raising hopes that the worst impact from the coronavirus pandemic. . .  Full story

Australia's Infigen forecasts "materially lower" earnings

02h17 Australian takeover target Infigen Energy on Monday warned revenue and earnings would be "materially lower" in the current financial year as it grapples with a substantial drop in wholesale electricity prices due to the coronavirus. . .  Full story

Japan Q1 GDP unchanged at 2.2% annualised contraction after 2nd revision

01h59 Japan's economy shrank an annualised 2.2% in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday.. . .  Full story

Microsoft to continue talks to buy TikTok from ByteDance

01h36 Microsoft Corp said on Sunday that it would continue discussions to acquire popular short-video app TikTok from Chinese internet giant ByteDance, and that it was aiming to conclude the negotiations by Sept. 15.. . .  Full story

Samsung crafts India comeback as anti-China wave surges

01h00 Samsung Electronics Co Ltd is forging a comeback in India's smartphone market with a new range of budget devices and a ramped-up online presence, aiming to recoup ground ceded to Chinese rivals such as Xiaomi. . .  Full story

Shell Australia to acquire environmental services firm Select Carbon

00h55 Royal Dutch Shell's Australia unit said on Monday it will buy environmental services firm Select Carbon as it seeks to cut back its emissions and expand its low-carbon and renewable power business.. . .  Full story

Australia shares poised to open flat ahead of c. bank meeting

00h19 Australian shares were set to open flat on Monday as investors adopted a cautious stance ahead of a central bank meeting this week, while a resurgence in COVID-19 cases also dampened risk appetite.. . .  Full story

BNP Paribas issues Australia's first climate-linked bond

00h00 BNP Paribas issued Australia's first green bond linked to the performance of an index tracking companies tipped to benefit from the country's transition into a low-carbon economy, aiming to bridge a gap in sustainable investment. . .  Full story

France to push for rights sanctions in EU recovery plan - minister to FT

02/08 France will push for financial sanctions under the EU's 750 billion euro ($880 billion) coronavirus recovery fund against states that undermine fundamental human rights, its junior European affairs minister told the Financial Times newspaper https://on.ft.com/33iEmzj.. . .  Full story

U.S. companies leap over low profit hurdle in coronavirus-hit quarter

02/08 A record high percentage of U.S. companies are beating analysts' forecasts this earnings season, giving investors a glimmer of hope in what is still expected to be the slowest profit period since the financial. . .  Full story

Russia says July oil output in line with OPEC+ deal

02/08 Russia's Energy Ministry said on Sunday that the country's oil output in July was unchanged from levels seen in June, in line with an OPEC+ agreement.. . .  Full story

Argentina creditors seek global support for bond clause changes

02/08 A group of Argentina's creditors has contacted the Institute of International Finance and other global bodies for support to amend legal clauses in its sovereign bond restructuring, a spokesman for the organisation said.. . .  Full story

Syria says U.S. oil firm signed deal with Kurdish-led rebels

02/08 Syria's foreign ministry said on Sunday that an American oil company had signed an agreement with Kurdish-led rebels who control northeastern oilfields in what it described as an illegal deal aimed at "stealing" Syria's. . .  Full story

S.Africa will not have universal basic income grant this year, minister says

02/08 South Africa will not implement a universal basic income grant until at least March, Social Development Minister Lindiwe Zulu said in an interview on Friday, rolling back a pledge to have. . .  Full story

Siemens Healthineers expands into cancer care with $16.4 bln deal for Varian

02/08 German health group Siemens Healthineers said on Sunday it was buying Varian Medical Systems Inc of the United States for $16.4 billion in a deal that seeks to create the global leader in cancer care. . .  Full story

Wall St Week Ahead-RPT-After monster rally, investors cautious as U.S. recovery wobbles

02/08 Investors are preparing their portfolios for a potentially rocky patch in U.S. stocks, worried that a dramatic rebound in equities may stall amid dimming economic data and rising political uncertainty.. . .  Full story

Iran's stock market surges past key level to record high, as analysts warn of bubble

02/08 Iran's main stock index broke through the key 2 million point mark for the first time ever on Sunday, state media reported, amid warnings that the market is overheating.. . .  Full story

UK aims to speed up housebuilding with some 'automatic' approval

02/08 Britain wants to speed up the planning system to approve construction projects such as new homes more quickly, with some developments to be allowed automatically, housing minister Robert Jenrick wrote in The Sunday Telegraph newspaper.. . .  Full story

Hong Kong's mom-and-pop investors squeeze funds as IPOs sizzle

02/08 As Hong Kong's stock market prepares for billions of dollars in sales of new shares, global fund managers have a big challenge - competing with the city's army of mom-and-pop investors for a slice. . .  Full story

Mainland China reports 49 new coronavirus cases for Aug 1

02/08 China reported 49 cases of the new coronavirus in the mainland for Aug. 1, up from 45 cases a day earlier, the health commission said on Sunday.. . .  Full story