US homebuilding fell sharply in July, weighed down by higher mortgage rates and prices for materials, suggesting that the housing market could contract further in the third quarter.

Walmart reported a jump in quarterly revenues Tuesday partly driven by inflation as the retail giant signaled it expects its US sales growth to moderate over the next six months.

Chinese lithium hub Sichuan province will ration electricity supply to factories until Saturday, state media reported, as a heatwave sends power demands soaring and dries up reservoirs.

Finland will limit Russian tourist visas to 10 per cent of current volumes as of September 1 due to rising discontent over Russian tourism amid the war in Ukraine, the government said Tuesday.

Russian gas flows to Europe via some major pipeline routes remained at steady, albeit low, levels on Tuesday morning, operator data showed.

Kevin Kendall pulls up at the only green hydrogen refuelling station in Birmingham, Britain’s second-biggest city, and swiftly fills his sedan with clean gas.

Oil prices extended losses Tuesday but European gas prices hit near six-month highs, in both cases fuelling fears of recession.

Russian state gas company Gazprom said on Tuesday that European gas prices could spike by 60 per cent to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall amid Western sanctions.

Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality.

Britain’s unemployment rate remains close to 50-year lows, but wage values are falling at a record pace with inflation at the highest level in decades, official data showed Tuesday.

Malaysia Airlines has agreed to acquire 20 Airbus A330neo planes to update its fleet of widebody jets, the European aircraft-maker said Monday.

German households face an energy surcharge reaching hundreds of euros in the wake of the Ukraine war, according to the rate published Monday, prompting the government to promise relief measures.

The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) could pave the way for Beijing to strike an audit deal with the United States, ending a more than decade-old dispute, analysts and advisers said on Monday.

The rouble slid past 61 to the dollar on Monday as the conversion of depository receipts in Russian companies to local shares got underway, and as foreign investors from designated “friendly” countries were able to return to the bond market.

Japan’s economy rebounded at a slower-than-expected pace in the second quarter from a Covid-induced slump, data showed on Monday, highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery.

China’s refined fuel exports are likely to sink in 2022 to the lowest in seven years as the country seeks to maintain ample domestic supplies while refinery output posts a rare decline.

Thailand’s economy grew 2.5 per cent in the second quarter as returning foreign tourists failed to offset high inflation and concerns over regional tensions, the country’s main economic agency said Monday.

China’s refinery crude throughput fell last month to its lowest since March 2020 as several state refiners underwent unplanned shutdowns and their independent peers trimmed production in response to thinning margins.

Iran’s leading automaker is seeking to prioritise exports to Russia, its CEO said Sunday, as both countries reel under Western economic sanctions.

China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-Covid policy and a property crisis.