Monday

• Deutsche Bank starts slashing thousands of jobs on Sunday in London and New York hours after announcing plans to cut 18,000 jobs globally.

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• China announces it may reduce interest rates later this month cutting its own benchmark rate for the first time in 4 years.

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• German chemicals group BASF cuts its full-year forecast warning of profits halving in the second quarter.

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• Greece’s new government is warned by EU chiefs not to abuse budget surplus targets citing damage to its hard-earned economic credibility.

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• Japanese machinery orders contract in May by 3.7% as the world’s third-biggest economy sees its steepest fall in three months.

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• The US stock market dupes active fund managers in June as only 31% of managers beat the US Russell 1000 index.

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Tuesday

• Mexico’s Finance Minister Carlos Urzua resigns with a letter citing “extremism” in economic policy. President Andres Manuel Lopez Obrador names Minister Arturo Herrera as his replacement.

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• Jeremy Hunt ‘won’ a bad-tempered TV debate with Prime Minister front-runner Boris Johnson as many state the victory was ‘too late’.

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• Gold’s recent rally to a 6 year high took a blow after India hiked import duties when many expected lowering taxes.

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• Hong Kong Chief Executive Carrie Lam announced the China extradition bill is dead but will prosecute demonstrators.

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• Nintendo will produce Switch consoles in Vietnam with Sony and Microsoft considering the same as trade tensions put production in jeopardy. 

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• Donald Trump relaxes restrictions on US companies selling to Huawei with the ban only applying to products related to national security.

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• Shares of Philippines airline CEBU plunge 40% and then recover among talk of ‘fat finger’ error.

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• Hargreaves Lansdown blocks Neil Woodford’s Equity fund holders from transferring to other investment platforms.

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• The world’s largest chemicals maker BASF slashes its forecast for full-year earnings by 30%.

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• French Transport Minister Elisabeth Borne announces plans for "eco-tax" for all flights from French airports.

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• Richard Branson’s Virgin Galactic announces plans to go public, merging with a cash cell launched by former Facebook executive Chamath Palihapitiya.

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​Wednesday

• Britain’s economy grew more than expected in May with car output rebounding and overall output growing 0.3%.

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• Fed Chairman Jerome Powell said the global economy “continues to weigh on the U.S. economic outlook” suggesting a rate cut this month.

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• The S&P 500 breached 3,000 points mark for the first time as the Fed confirms it will “act as appropriate” to sustain record growth.

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• Britain’s ambassador to Washington Kim Darroch left his job after days of criticism from Donald Trump.

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• The European Commission warns that the bloc faces a “host of negative risks” in H2 of 2019 but keeps growth projections unchanged. 

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• The Brazilian Bovespa index rose to new highs as the lower house of Congress expects to approve pension system reform.

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• Australia promises a national vote on whether to include recognition of indigenous people in its constitution.

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• Bank of Canada held interest rates at 1.75% and raised its second-quarter growth forecast.

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• Indian car sales fall by a quarter in June in its worst slump for over 10 years as a credit crunch slows domestic buying. 

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• Iranian president Rouhani warns the British " you should be aware of the consequences” for seizing an Iranian supertanker.

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• UK Labour Party leader Jeremy Corbyn requests new referendum and will now campaign to remain in the EU.

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Thursday

• Three Iranian gunships impede a BP oil tanker in the Strait of Hormuz, retreating after warnings from Royal Navy warship, the British Heritage.

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• The largest privately owned US company Cargill reports sharp drops in fourth-quarter earnings as weather and a deadly pig virus take their toll.

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• Delta and EasyJet confirm a joint bid for Italy’s state-backed railway company Ferrovie dello Stato to take over national carrier Alitalia.

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• Bank of England warns risks of a no-deal Brexit are “material risks of economic disruption” and increased market volatility.

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• The Dow Jones Industrial Average crosses 27,000 points for the first time.

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• Claims for US unemployment benefits fell 13,000 to 209,000 for the week ended July 6, the lowest since April.

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• Standard & Poor’s issued its first rating for a Chinese debt issuer awarding a unit of ICBC, China’s biggest bank, a AAA rating for domestic renminbi-denominated debt.

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• Sustainable Funds in the U.S. saw Record inflows in the first half of 2019 attracting an estimated $8.9 billion.

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• Anheuser-Busch InBev, the world’s largest brewer cancelled this year’s biggest IPO to sell $9.8bn of shares.

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Friday

• The US yield curve steepened the most in three years on hopes a rate cut by the Fed will keep the US economy growing.

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• Chinese exports fell 1.3% year on year in dollar terms during June resulting from tensions with the US.

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• Singapore’s economy experienced its slowest growth rate in a decade during the second quarter.

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• Fitch credit rating agency downgrades Turkey’s sovereign debt less than a week after president Erdogan fired the central bank chief.

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• A group of the world’s largest banks including Citigroup, BNP Paribas, Bank of America Merrill Lynch,  Crédit Agricole and Citigroup agree a $10bn loan to Saudi Arabia’s sovereign wealth fund.

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• Travel operator Thomas Cook hopes for a GBP 750m rescue deal from Chinese investor Fosun as online competition and heat waves hit summer holiday bookings.

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• The International Monetary Fund sends $5.4 billion cash to Argentina in a fourth review of a $57 billion finance agreement as recession and high inflation bite.

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• The Securities and Exchange Commission assesses exposure to Libor on hopes to move to an alternative benchmark reference rate,  the Secured Overnight Financing Rate, worth $300 trillion.

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The week ahead…

• Earnings for JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo, Bank of America and Morgan Stanley and almost 60 S&P 500 companies.

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• European Parliament votes on EU Commission President.

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• South African reserve bank expected to cut its repo rate to 6.5%.

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• US – Retail sales, import prices, industrial production, housing starts, unemployment claims, crude inventories.

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• EU – Italian trade balance, EU trade balance, core CPI, current account, German PPI.

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• UK - Unemployment rate, CPI, RPI, PPI, monthly retail sales.​

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• Asia - Chinese GDP, Japanese trade balance, Japanese CPI.