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US June nonfarm payrolls showed weakness as leisure and hospitality unexpectedly lost 61,000 jobs, wiping out roughly 40,000 jobs the sector added in May during World Cup-related hiring. Retail employment fell 7,500 and the information sector shed 9,

2026-07-02

US June nonfarm payrolls showed weakness as leisure and hospitality unexpectedly lost 61,000 jobs, wiping out roughly 40,000 jobs the sector added in May during World Cup-related hiring. Retail employment fell 7,500 and the information sector shed 9,000 jobs.

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2026-07-02

Documents show Germany's coalition government plans to provide €10 billion a year in tax cuts.

Documents show Germany's coalition government plans to provide €10 billion a year in tax cuts.
2026-07-02

RMB internationalization remains a policy priority. Hong Kong, as an international financial center and offshore RMB hub, is implementing measures to deepen the offshore RMB market and strengthen mainland–Hong Kong market connectivity. Authorities ar

RMB internationalization remains a policy priority. Hong Kong, as an international financial center and offshore RMB hub, is implementing measures to deepen the offshore RMB market and strengthen mainland–Hong Kong market connectivity. Authorities are promoting wider corporate use of RMB in trade and financing to ease cross-border operations and reinforce Hong Kong’s conduit role between the mainland and global markets. Industry feedback highlights frictions: corporate inertia toward other currencies, legacy operational and accounting systems that do not support RMB transactions, and limited awareness or cost‑benefit analysis of RMB banking products. Hong Kong authorities are consulting with industry and mainland policy departments to identify practicable solutions.
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