August Daily Review - 12/08

 

1) BEIJING (Reuters) - Alibaba's shares skidded to a record low in New York on Wednesday after China's biggest e-commerce company posted its slowest revenue growth in over three years.

2) NEW YORK (Reuters) - Boeing Co (N:BA) sees continued strong demand for civilian aircraft and pressure to increase its production rates, despite concerns about growth in China and several years of record aircraft orders.

3) Investing.com - The dollar tumbled over 1% to one-month lows against the other major currencies on Wednesday, as markets were still digesting news that China devalued its currency for the second consecutive day.

4) ATHENS/BRUSSELS (Reuters) - The European Union moved to keep Greece on a tight rein after its latest bailout, with sources saying the 85 billion euro ($94.83 billion) deal will be reviewed by lenders in October and any discussion of debt relief will only come at a later stage.

5) Investing.com - West Texas Intermediate oil trimmed gains on Wednesday, after data showed that oil supplies in the U.S. fell less than expected last week.

Crude oil for delivery in September on the New York Mercantile Exchange tacked on 20 cents, or 0.46%, to trade at $43.28 a barrel during U.S. morning hours. Prices were at around $43.52 prior to the release of the inventory data.

 

 

 

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