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Italian Economy Minister: We do not expect the growth outlook presented by the government in April to change.
EU official: We will clearly define which corporate structures are permitted, particularly in terms of control and ownership.
On July 22, Joseph Lavorgna, chief U.S. economist at Sumitomo Mitsui Banking Corporation, stated that policymakers will lose hard-won credibility if inflation does not slow. In a report, Lavorgna noted that in the past 70 years, core inflation has only declined by 0.9% or more year-on-year six times. In each of those instances, the slowdown in inflation was due to the Federal Reserve tightening policy. Lavorgna said, “The longer the Fed waits, the greater the probability that interest rates will have to rise above what is necessary. That’s why so many tightening cycles have ended tragically. Chairman Warsh understands this.”
CSPC Pharmaceutical Group (01093.HK): The Phase II clinical trial of SYS 6026 injection for the treatment of HPV16 or 18-related high-grade squamous intraepithelial lesions of the cervix has been officially launched in China.
Qualcomm (QCOM.O) shares were little changed in pre-market trading, currently down 1.84%.