- China fundamentals support stable FX rate, economist says
- New York heat wave leads to electricity consumption record
Here are highlights of Sunday’s top breaking stories from around the world:
Hezbollah, the Lebanon-based group considered a terrorist organization by the U.S., Israel and Saudi Arabia, joined the gallery of U.S. adversaries complimenting or quoting Donald Trump. Its leader said Barack Obama and Hillary Clinton created Islamic State because, well, Trump said so. Meanwhile, the U.S. commerce secretary under Republican President George W. Bush said Trump’s economic plans are something you’d see in a very poor country and that his prescriptions of protectionism and tax cuts invite “disaster.”
Four U.S. swimmers including blue-haired Ryan Lochte were held up at gunpoint in Rio de Janeiro by fake policemen as they rode in a taxi after a party that followed the final night of the swim meet, becoming the most prominent victims of street crime during the Olympics.
Stocks rose in most Middle East markets after oil prices had their biggest weekly increase since April.
China’s slowing growth in money supply hasn’t affected the economy, and the nation’s fundamentals support a stable foreign-exchange rate, the top economist at the central bank’s research bureau said.
Germany signed off on Volkswagen’s plan to fix 460,000 diesel cars fitted with software that cheats emissions tests. The approval is valid throughout Europe.
Con Edison, straining under record demand for electricity during a weekend heat wave, urged its New York customers to use fans instead of air conditioning, even as the National Weather Service urged the opposite.
“Suicide Squad” slumped at the box office in its second week of release, while Seth Rogen’s animated “Sausage Party” had a surprisingly strong opening weekend.