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    • Singapore downgrades Q2 GDP, outlook as risks grow

      • BY Reuters|
      • Asia-Pacific , Singapore |
      • 09:32 PM ET 08/10/2022

      Singapore's economy expanded less than initially estimated in the second quarter and the government revised its growth projections for 2022 lower, flagging risks to the global outlook from the Ukraine war and cost pressures.

    • Costa Rica seeks entry to trans-Pacific trade bloc

      • BY Reuters|
      • Latin America |
      • 08:49 PM ET 08/10/2022

      Costa Rica formalized its request to join a trade partnership of 11 countries across Asia, Australia and the Americas, President Rodrigo Chaves announced on Wednesday, in a step toward strengthening trade ties with Asian economies.

    • Mexico issues measures to mitigate high costs of train cargo as inflation soars

      • BY Reuters|
      • Latin America , Mexico |
      • 08:08 PM ET 08/10/2022

      Mexico's government on Wednesday said it had issued so-called "emergency directives" for the transportation via train of products in a staple basket of goods with the aim of mitigating high cargo costs as inflation is over a 20-year high.

    • Singapore Q2 GDP grows 4.4% y/y, slower than first estimated

      • BY Reuters|
      • Asia-Pacific , Singapore |
      • 08:00 PM ET 08/10/2022

      Singapore's economy expanded less than initially estimated in the second quarter, official data showed on Thursday. Gross domestic product grew 4.4% year-on-year in the second quarter, the Ministry of Trade and Industry said, lower than the 4.8% growth seen in the government's advance estimate.

    • New Zealand house prices fall on year for first time sine 2011

      • BY Reuters|
      • Asia-Pacific , New Zealand |
      • 06:38 PM ET 08/10/2022

      New Zealand house prices fell in July with the median price recording its first annual fall since 2011, the Real Estate Institute of New Zealand said on Thursday. The seasonally adjusted median nationwide house value in July fell 2.8% compared with the previous month and was down 1.6% year-on-year, according to REINZ.

    • US STOCKS-Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

      • BY Reuters|
      • North America , United States |
      • 05:58 PM ET 08/10/2022

      * Fed now seen delivering 50 bps hike in September. * U.S. consumer price growth slows in July. * Musk sells Tesla shares worth $6.9 bln. * Volatility index closes at four-month low. By Herbert Lash and Bansari Mayur Kamdar.

    • GLOBAL MARKETS-Stocks rally, dollar falls on easing inflation

      • BY Reuters|
      • North America , United States |
      • 05:16 PM ET 08/10/2022

      * Wall Street rallies with Nasdaq leading gains. * CPI was flat in July after rising 1.3% in June. * In 12 months through July, CPI rose 8.5% vs 9.1% in June. By Sinéad Carew. Wall Street equities rallied and the dollar tumbled after signs of sharply decelerating U.S. inflation prompted bets that the Federal Reserve would raise interest rates at a slower pace than previously expected.

    • Exclusive - U.S. rethinks steps on China tariffs in wake of Taiwan response - sources

      • BY Reuters|
      • Asia-Pacific , Taiwan |
      • 05:14 PM ET 08/10/2022

      China's war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations. President Joe Biden has not made a decision on the issue, officials said.

    • Exclusive - U.S. rethinks steps on China tariffs in wake of Taiwan response - sources

      • BY Reuters|
      • Asia-Pacific , Taiwan |
      • 05:14 PM ET 08/10/2022

      China's war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations.

    • Fed may slow rate hikes, but policymakers say more is needed

      • BY Reuters|
      • North America , United States |
      • 05:11 PM ET 08/10/2022

      * Kashkari sticks to his view of 3.9% fed funds rate at end-2022. * Evans sees 3.4% policy rate this year. * Both push back on market expectation for rate cuts next year. * Inflation, employment data to determine size of Sept rate hike. By Ann Saphir and Howard Schneider.

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    News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

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