In today’s briefing:
- UK: Sales Pumped by Prime Day
- CX Daily: SPACs Appear to Lose Shine in Singapore and Hong Kong
UK: Sales Pumped by Prime Day
- Total UK retail sales volumes increased slightly in July, but only because of online sales by firms without stores. Record Amazon Prime Day sales appear to be responsible.
- Underlying sales declined a few tenths, and the total level should normalise in August as that retail event passes. The downward trend is unbroken amid confidence at new lows.
- High inflation and rates are crushing real incomes to record declines, depressing retail trends irrespective of the successful sales in July.
CX Daily: SPACs Appear to Lose Shine in Singapore and Hong Kong
SPACs / In Depth: SPACs appear to lose shine in Singapore and Hong Kong
Taiwan / Chinese envoy warns U.S. against further escalating tensions over Taiwan
Flood / Northwest China flash floods leave 16 dead, 36 missing
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