Bloomberg China flatly denied a report that President Xi Jinping had invited top European leaders to meet him in Beijing later this year, and was still awaiting their response, as tensions fray between Beijing and the bloc. “I don’t know what’s their source of information,” Chinese Foreign Ministry spokesman Zhao Lijian said Tuesday, referencing the South China Morning Post report. ...

Bloomberg The battle to succeed Boris Johnson is heating up, with Penny Mordaunt, Liz Truss and Kemi Badenoch vying to join Rishi Sunak in the final run-off after a vote on Monday left the race for second wide open. Conservative Party MPs were expected to vote for a fourth time on Tuesday in the contest to elect Johnson’s successor as ...

Bloomberg The few commuters who braved the heat of London’s Underground transport system had to endure temperatures deemed too hot to safely transport cattle, showing the brutal conditions sweeping through Europe and impacting everything from transport to food and energy production. Intense heat caused London’s Luton Airport to halt flights for runway repairs, while Wales set a new record and ...

  Bloomberg Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country. The benchmark price of a home falls 1.9% in June versus the previous month, according to data by the Canadian Real Estate Association. That’s the third straight month of falling prices, and ...

Bloomberg Volvo AB said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter. “We realise, like everyone else, that the macro-economic measures taken now by central banks must have an effect in order to reduce the inflationary pressures,” Volvo’s Chief Executive Officer Martin Lundstedt said in a phone interview ...

  Bloomberg Telecom Italia SpA will cut about 9,000 jobs by 2030, equating to around 20% of its Italian workforce, the company said as it presented its new business plan. The job cut total will include all planned and voluntary exits including retirements, a spokesman said, calling it part of the company’s push to create a leaner structure. Telecom Italia ...

Bloomberg Brazil’s heavy dependence on fertiliser imports is leading to a major upgrade of the nation’s ports, railways and distribution centers. Hundreds of millions of dollars are pouring into Brazil’s logistics infrastructure, all in order to more quickly get fertiliser from ports to inland farms thousands of miles away, which produce the most soybeans, coffee and sugar in the world. ...

  Bloomberg SoftBank Group Corp has temporarily paused talks about listing shares of its chips division, Arm Ltd., in London because of turmoil in the UK government, while it continues to pursue an initial public offering (IPO) for the business in New York, according to people familiar with the matter. SoftBank founder Masayoshi Son has repeatedly said his primary focus ...

Bloomberg US equity futures advanced as investors assessed the outlook for corporate earnings and global growth amid Europe’s deepening energy crisis. The dollar falls against all its group of 10 peers. Contracts on the Nasdaq 100 and S&P 500 climbed 0.9% after early-week gains unravelled on Apple Inc’s plans to slow hiring to brace for a potential economic downturn. The ...

  Bloomberg The Indian rupee touched another record low as foreign investors continued to sell the nation’s equities. The rupee declined to as low as 80.06 per dollar on Tuesday before reversing losses as traders cited possible central bank intervention. The currency has been buffeted by nearly $30 billion of foreign outflows from the nation’s equities so far this year ...