Midday Dispatch – Corporate and Financial News

In June 2019, the seasonally adjusted index of industrial production for Malta increased by 1.9 per cent. Increases were registered in the production of energy (4.7 per cent), consumer goods (4.5 per cent) and capital goods (2.5 per cent). On the other hand, the production of intermediate goods decreased by 2.6 per cent. NSO

Global trade is likely to pick up only gradually in coming quarters and will remain weaker than overall economic activity, the European Central Bank said on Monday in an economic bulletin. Reuters 

HSBC Holdings PLC plans to slash thousands of jobs and slow investment spending after the surprise ouster of Chief Executive John Flint. HSBC late Sunday said Mr. Flint had agreed to leave the CEO job after just 18 months, ending the 51-year old’s three-decade career at the bank. MarketWatch

Euro zone business growth hit a wall in July as demand crumbled, according to a survey which showed a deepening downturn in manufacturing is increasingly affecting the bloc’s dominant services industry. Reuters

China let the yuan breach the key 7-per-dollar level on Monday for the first time in more than a decade, in a sign Beijing might be willing to tolerate more currency weakness that could further inflame a trade conflict with the United States. Reuters 

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