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On August 26th, Bank of America stated that SpaceXs (SPCX.O) expanding wireless communications business could benefit T-Mobile US (TMUS.O), tower companies, and the value of spectrum assets. Bank of America pointed out that if SpaceX wants to build a competitive nationwide wireless communications network, it will need to make large-scale investments, acquire more spectrum resources, and spend years building the related infrastructure. However, Bank of America believes that SpaceXs satellite connectivity business is more likely to complement existing mobile communication networks rather than completely replace terrestrial networks. This means that SpaceX may establish partnerships with T-Mobile and tower operators in the future, creating new business opportunities for these companies.August 26th - This week, central bank officials from around the world will gather in Jackson Hole, Wyoming, to discuss how to re-examine global inflation and the prospect of further increases in borrowing costs in the face of new inflationary threats. Spiros, an economist at Thin Ice Macro in Frankfurt, stated, "Global central banks are likely to adopt a cautious stance, viewing inflation as the risk they least want to see. You never know when the next supply shock will suddenly appear." Subadra Rajapa, head of US research at Societe Generale, noted that countries differ in their urgency regarding inflation, partly due to their varying degrees of sensitivity to energy cost fluctuations, which in turn depend on their import volumes. He pointed out that Europe and Japan are "more sensitive to the situation in the Middle East and oil prices." "We estimate that policy rates in the US and UK will remain tight," said Jarry Stern, chief European economist at Goldman Sachs. "Different starting points mean different pressures on countries to cope with the energy shock, giving the Fed and the Bank of England more time to observe how this shock evolves." Former Philadelphia Fed President Patrick Harker said, "The Iran war has changed the way people discuss issues and make policy choices, and there seems to be no end in sight." "This makes this years Jackson Hole symposium completely different because we are now in a typical supply shock environment, or more accurately, multiple supply shocks hitting the global economy simultaneously."On August 26, CanSino Biologics (06185.HK) issued an announcement on the Hong Kong Stock Exchange, noting the companys recent market developments regarding mRNA technology. The mRNA platform is one of the companys key technology platforms. The company is currently developing mRNA preventative vaccines and therapeutic biological products, as well as related delivery systems. In the therapeutic areas, the company is advancing research and development of mRNA vaccines for the treatment of glioblastoma, rhabdomyosarcoma, and cervical cancer, as well as the development of InVivoCAR-related therapies, all currently in early stages.According to Al Jazeera, Iranian President Pezechzian and Russian President Putin plan to meet next week.August 26 – Question: Recently, Philippine Defense Secretary Teodoro stated at a hearing on the 2027 defense budget in the Philippine House of Representatives that he had reason to suspect that some elected officials in the Philippines accepted support from China and made statements favorable to Chinas position on the South China Sea issue. He also stated that the website of the Chinese Embassy in the Philippines had exceeded its diplomatic functions and was spreading false information locally. What is the Chinese Embassys comment? Answer: Philippine Defense Secretary Teodoro is making baseless accusations, distorting the truth, and attacking and smearing China. We strongly condemn this. The South China Sea issue is not the entirety of China-Philippines relations, and maritime disputes should not define bilateral relations. China has always been committed to properly handling China-Philippines maritime disputes through dialogue and consultation. However, there is always a small group of people in the Philippines attempting to create conflict and provoke confrontation between China and the Philippines. Their actions run counter to the common aspirations of the people of both countries and are doomed to failure.

Oil prices fall owing to inflation fears, but expected stock prices rise

Skylar Williams

Jul 20, 2022 11:19

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Under pressure from global central bank efforts to contain inflation and in anticipation of forecasted increases in U.S. petroleum inventories as a result of decreasing product demand, oil prices dipped modestly in early Asian trading on Wednesday.


Brent oil prices lost 39 cents, or 0.5%, to $106.96 per barrel at 00:45 GMT, while U.S. West Texas Intermediate (WTI) crude prices decreased 62 cents to $103.60 per barrel.


Approximately 1.9 million barrels were added to U.S. oil stocks for the week ending July 15, according to market sources citing Tuesday's data from the American Petroleum Institute.


The U.S. Energy Information Administration (EIA) is scheduled to announce official weekly oil and gasoline inventory numbers on Wednesday at 15:30 GMT.


The U.S. 3:2:1 and gasoline crack spreads, which are measures of refining profit margins, reached their lowest levels since April on Tuesday, indicating a fall in fuel demand.


Oil prices bounced drastically in the previous session, caught in a tug-of-war between supply worries due to Western sanctions against Russia and pressures on central bankers' indications that they may increase interest rates to combat inflation.


Friday marked the lowest level of open interest in New York Mercantile Exchange futures since September 2015, as investors cut risky assets such as commodities out of anxiety that the Federal Reserve will continue to raise U.S. interest rates.

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