World
The U.S. and China each moved rapidly to shut one of the other’s consulates and evict diplomats, unprecedented steps that were followed by calls on both sides to ease rising tensions.514
Economic Data
The U.S. economy lagged in July and Europe’s bounced back, according to fresh surveys of purchasing managers, evidence that the two economic powerhouses are recovering at different speeds from the coronavirus pandemic.
Markets
The Wall Street bank will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, and guarantee the recovery of $1.4 billion in assets allegedly stolen from the fund.30
World
President Recep Tayyip Erdogan attended Muslim prayers in the Hagia Sophia two weeks after he declared the building—a museum for the past 86 years—a mosque again in a controversial move aimed at reviving nationalist sentiment.
Europe
Public authorities in Spain announced new anti-contagion measures as the number of coronavirus cases continued to rise, dimming hopes for economic revival.
Russia
The central bank cut its key interest rate as the pandemic pushed the economy into a deep recession and forced President Vladimir Putin this week to delay a flagship $360 billion national development plan by six years.
