Browsing: Business

Across the United States and European markets, diesel prices have remained elevated due to limited inventories and refinery disruptions that have constrained the supply of finished fuel. On Monday, U.S. ultra-low sulfur diesel futures increased by 7.4% to reach $4.19 a gallon, marking the most significant daily rise since July 13. By early Wednesday, the contract hovered near $4.28 a gallon. Meanwhile, European diesel refining margins stayed near historic highs, with an almost 10% gain at the beginning of the week.

Gold advanced for a third consecutive session on Tuesday as bullion extended its rebound from last week. Spot gold gained 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest level since June 5. U.S. gold futures climbed 1.7% to $4,492.60. This movement pushed prices above the seven-week peak recorded last week and continued a recovery that accelerated following weaker U.S. employment data.

According to official data, Denmark’s annual inflation rate slowed to 1.7% in July from 1.9% in June. The agency, Statistics Denmark, indicated that consumer prices rose by 1.3% compared to the previous month. The core inflation rate remained steady at 2.3%, matching the June figure. Notably, price hikes in the hospitality sector, including restaurants and hotels, continued to significantly influence the inflation index. Additionally, rentals of holiday homes contributed strongly during the busy summer travel period.

According to an evaluation by Triodos Bank, extreme temperatures and drought conditions across Europe could lead to a reduction of approximately 1% in the economic output of the European Union in 2026. France is projected to experience the most significant economic impact, with a potential reduction in GDP growth of about 1.4 percentage points. Italy, Spain, and Belgium are also among the most vulnerable large economies, with the Netherlands facing a growth decline of about 0.8 percentage points. The impacts of severe weather are expected to impose additional strains on the economy.

South Korea is experiencing significant rises in fresh produce costs as severe heat waves disrupt farming activities and diminish vegetable availability. Data from the Ministry of Agriculture, Food and Rural Affairs indicate that on Aug. 7, spinach was priced at 1,978 won per 100 grams, marking a 152.3% increase compared to the previous month. Meanwhile, ten cucumbers cost 8,313 won, reflecting a 54.8% jump, and blue lettuce surged 41.7%, with zucchini climbing 46.6% to 1,504 won.

The European Commission confirmed the signing of a contract to broaden IRIS2 satellite constellation, under a binding implementation agreement with the SpaceRISE industrial consortium. This formal agreement marks the culmination of detailed technical and financial discussions launched in January 2026, transitioning the Infrastructure for Resilience, Interconnectivity and Security by Satellite program from its initial planning stage into full industrial deployment. The revised architecture incorporates 330 satellites in higher low Earth orbit and 18 in medium Earth orbit, with optional orbital slots reserved for specialized missions. Initial satellite launches are scheduled for 2029, enabling participating member states to access early sovereign connectivity shortly thereafter. Technical assessments indicate that this expansion will boost secure governmental communication capacity by 60 percent within the European Union and by 54 percent globally, strengthening regional capabilities during complex emergencies and critical infrastructure crises.

South Korea’s current account recorded an all-time high surplus of $49.73 billion in June, driven by a significant rise in semiconductor exports. The Bank of Korea indicated a notable jump from the previous peak of $38.61 billion set in May. This marked the 38th straight month of consecutive current account surpluses for the country. The surge was primarily supported by robust goods exports, with technology shipments leading the way in overseas sales expansion.

Eurozone’s manufacturing sector experienced growth in July, with factory output reaching its fastest rate in nearly four and a half years. The final data was slightly below the initial forecast of 52.0. While production picked up at the beginning of the third quarter, demand signals revealed that the recovery was still uneven across the currency bloc. Factory production reached a 52-month high as eurozone demand remained subdued. Manufacturing firms accelerated production even as new orders grew only marginally. Companies depended heavily on existing work to sustain current output, resulting in production growth outpacing new demand from both domestic and international markets.

The European Union has officially launched the Scaleup Europe Fund with a target of raising €5 billion. The European Commission finalized the legal procedures on August 4. Operating under the European Innovation Council Fund, the initiative targets key technology firms with strategic importance. EQT has been appointed as the investment manager and will select deals based on commercial considerations. The Commission anticipates making its initial investments within a few weeks. Fundraising efforts are ongoing as EQT seeks further commitments from both public and private sector investors.

In June 2026, the inflation rate across economies monitored by the OECD slowed down to 4.2%, marking a decrease from 4.6% in May. This slowdown brought an end to three months of consecutive increases in headline inflation figures. Among the 36 member countries, 20 experienced a deceleration in consumer price increases, while six saw an uptick. The remaining 12 nations maintained stable or broadly stable inflation levels. Notably, nine OECD countries registered inflation rates of 2% or less, including three with rates below 1%.