Headlines

Argentine authorities are stepping up scrutiny of investor activity in repo loans, the short-term financial instruments that have seen interest rates touch record highs amid a liquidity crunch at the nation’s banks, Bloomberg News reported. The Central Bank and local regulator CNV asked for help analysing the real-time data they receive daily from the country’s two main exchanges, BYMA and A3, on the short-term instruments known locally as cauciones bursátiles, according to people familiar with the matter.

China Evergrande, a real estate developer that once represented the pinnacle of China’s economic prowess, was formally removed from the Hong Kong Stock Exchange on Monday, the New York Times reported. Evergrande, which made its financial debut in Hong Kong 16 years ago, had once been the fastest growing property developer in a country brimming with promise of profits for investors. It will be remembered as one of the world’s most indebted companies whose collapse brought China’s financial system to the brink.

Evergrande’s collapse, with $300 billion in debt, mirrors the slow and painful unwinding of China’s property sector, the New York Times reported. Government policies staved off a sudden crash, and instead delivered a grinding slowdown. The housing downturn has not delivered the devastating shock that the United States suffered in the 2008 financial crisis, but it has been hanging over the economy for five years with no end in sight.

Appellate tribunal NCLAT has dismissed the plea against the acquisition of Vadraj Cement by Nirma group cement business Nuvoco Vistas Corporation during an insolvency resolution process, the Economic Times of India reported. The Delhi-based principal bench of NCLAT has upheld the previous order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on April 1, 2025, approved Nuvoco Vistas's plan for Vadraj Cement that includes an upfront payment of Rs 1,800 crore.

Silicon Valley startup Lyten will need to convince carmakers it can succeed where bankrupt Swedish EV battery maker Northvolt failed - creating a European champion to reduce the region's reliance on China, Reuters reported. Lyten, which develops lithium-sulfur batteries, unexpectedly announced on August 7 it was buying Northvolt's assets, offering a lifeline to future European battery production for electric vehicles.

Global central bankers gathered at a U.S. mountain resort over the weekend are starting to fear that the political storm surrounding the Federal Reserve may engulf them too, Reuters reported. U.S. President Donald Trump's efforts to reshape the Fed to his liking and pressure it into interest rate cuts have raised questions about whether the U.S. central bank can preserve its independence and inflation-fighting credentials.

Japan's Finance Minister Katsunobu Kato said on Monday that cryptocurrencies can be part of a diversified portfolio, CoinDesk.com reported. "Crypto assets have risks surrounding high volatility, but through building an appropriate investment environment, they could be part of diversified investments," Kato said. The minister added that the government has been trying to ensure that innovation isn't stifled by excessive regulation.

The European Union is pushing for U.S. tariffs on European cars and auto parts to be reduced retroactively to August 1 under the terms of a framework trade deal reached in July, CBTNews.com reported. The move could provide quick relief for European automakers that have faced steep U.S. tariffs in recent years. Under the agreement, Washington committed to lowering its current 27.5% tariff on cars and auto parts from the EU once Brussels introduces legislation to cut duties on U.S. goods.

Switzerland soon hopes to finalise a new business offer for Washington to ease its tariff burden, which will likely include more defence spending and greater access for U.S. energy interests, Reuters reported. Switzerland was stunned when U.S. President Donald Trump this month hit it with one of the highest tariff rates worldwide - 39% - after complaining about the U.S. trade deficit with the country on a call with Swiss President Karin Keller-Sutter.

India’s embassy in Washington has hired a lobbying firm with close ties to the Trump administration and a history of advocating for foreign entities targeted by the U.S., just before 50% tariffs take effect on exports from the South Asian country, Bloomberg News reported. The embassy is paying $75,000 per month to Mercury Public Affairs LLC to provide government relations, media relations and other services, according to an Aug. 18 filing detailing the agreement. White House Chief of Staff Susie Wiles is a former co-chair of Mercury.