Incoming British Prime Minister Boris Johnson may need to rethink his stance on Brexit, given Parliament’s opposition to a so-called hard Brexit, a UBS investor projected on Wednesday. That’s likely to impact the weakened pound, he said. CNBC
The woes of the eurozone’s manufacturers are worsening, with a closely watched gauge of the export dependent sector hitting its lowest level in more than six and a half years in July. FT
France’s lower house of parliament approved a huge EU-Canada trade deal after a heated debate about its environmental impact and a rebellion by some ruling party members. CD
Hotel operator Hilton Worldwide Holdings Inc reported an about 20% rise in quarterly profit on Wednesday, driven by an increase in room rates and occupancy. Reuters
Deutsche Bank has slumped to its biggest quarterly loss since 2015 after the embattled lender took a hefty restructuring charge and investment banking revenues tumbled. FT
Financial markets see an increasing chance the Swiss National Bank will cut its deeply negative interest rates after the safe-haven franc hit two-year highs ahead of a European Central Bank meeting expected to signal easier policy in the euro zone. Reuters
KPMG has been handed a £5m fine for misconduct in work for BNY Mellon, the world’s largest custodian bank, over breaches that were described as “truly exceptional” by regulators. FT
Extended oil production cuts are lowering expectations for growth in Gulf economies, a quarterly Reuters poll of around 30 economists showed on Wednesday. Supply cuts to support prices led by the Organization of the Petroleum Exporting Countries and some non-OPEC allies, including Russia, were introduced in January and were extended this month until March 2020. Euronews
German blue-chip companies BASF, Siemens, Henkel along with a host of others said on Wednesday they had been victims of cyber attacks, confirming a German media report which said the likely culprit was a state-backed Chinese group. Reuters
