Bloomberg German retail sales plummeted in June as consumers cut spending on non-essential goods to cope with record inflation. Sales were down 9.8% from the previous year, the most since 1980 — before the country’s reunification. Non-food items such as furniture and household appliances or clothing and shoes registered even steeper declines. The data add to an already strained ...

Bloomberg US House Speaker Nancy Pelosi became the highest-ranking American politician to visit Taiwan in 25 years, prompting China to announce military drills encircling the island. Pelosi greeted Taiwanese officials including Foreign Minister Joseph Wu on the tarmac, where she posed for photos. In a statement, she said her visit “in no way contradicts longstanding United States policy” and that ...

Bloomberg Russian President Vladimir Putin will meet Turkish leader Recep Tayyip Erdogan for talks Friday including on a deal reached to unblock exports of grain from Ukraine, the Kremlin said. The meeting in Russia’s Black Sea resort of Sochi will be “a good opportunity to synchronize watches on the subject of the effectiveness of this mechanism for exporting grain from ...