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Real-time News
July 7, according to the Financial Times, Amazon (AMZN.O) and Walmart (WMT.N) will clash this week. Seattle-based Amazon changed the launch of its annual "Prime Member Day" online promotion to July 8, the same date as Walmarts discount event last year. Walmart insisted on starting the event on the same date, which led to a head-on confrontation, and also extended the event from 4 days to 6 days, overwhelming Amazon. Its "Walmart Special" event will be carried out online and for the first time cover 4,600 stores in the United States. "The two retail giants are competing fiercely for the favor of American consumers," said Canavis, an analyst at market research firm eMarketer.Poly Property Group (00119.HK): In June, the company achieved contract sales of approximately RMB 4.8 billion, contract sales area of approximately 165,000 square meters, and an average contract sales price of approximately RMB 29,157 per square meter.According to TASS, Russian air defense forces destroyed 91 Ukrainian drones during the night.According to the Financial Times: British fintech company Revolut has not yet obtained approval from the UK financial regulator and cannot provide consumer credit services to its 11 million customers in the UK.On July 7, ING Bank said that it expects the Reserve Bank of Australia to cut the cash rate by 25 basis points to 3.6% at its meeting on Tuesday, as recent growth and inflation data have been weaker than expected. Australias headline inflation rate fell to 2.1% in May from 2.4% in April, close to the lower limit of the central banks 2-3% target range. In addition, the latest monetary policy statement of the Reserve Bank of Australia showed that the voluntary resignation rate fell and the focus of wage negotiations shifted to job security demands, which may slow wage growth more than currently expected. Considering that the downside risks to growth and inflation dominate, we will expand the expected interest rate cut in 2025 by 25 basis points, and the final value of the cash rate is expected to reach 3.1% by the end of the year. The global tariff situation has not yet dissipated, and the overall and core inflation have established a downward trend, and are expected to remain near the median of the 2-3% range in the next few quarters.
