Highlight of the Week
US-China trade war escalates as August comes to an end
- China announced it will apply new tariffs worth $75b
- Trump tweeted that US companies are ‘ordered’ to immediately start looking for alternatives to China
Rate Curves
Rapid Report:
Deutsche Bank and UBS explored merging businesses
- Banks reportedly have discussed combining European investment banking operations
- European banks continue to struggle to compete on global stage amid slow economic growth and negative interest rates
G7 Summit full of tension, surprises
- Trump calls for Russia to be re-invited to next year’s summit, controversial because some others view the club as exclusive for liberal democracies
- Despite initially expressing regret and ‘second thoughts’ about China tariffs, Trump doubles down and signals interest in raising tariffs
- Emmanuel Macron invited Iran’s foreign minister as subtle ambush towards US harsh stance on Iran
$15m winner at East Lake Golf Club in Atlanta
- Rory McIlroy claimed Golf’s FedEx Cup Playoffs Title for 2nd time
- Fans struck by lightning Saturday suffer non-life-threatening injuries
