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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
- France’s economy grew 0.9% in the second quarter, slightly above estimates. German, Italian, Spanish and euro-area GDP numbers are due later today
- The world’s recovery from the coronavirus pandemic has sent prices for energy, metals and food soaring, helping big commodity exporters while hammering those nations that buy the bulk of their raw materials from others
- China’s ambassador to the World Trade Organization said there’s scope for Beijing to work with the U.S., European Union and other Western nations on an agreement aimed at curbing practices at the heart of the U.S.-China trade conflict
- The chief executives of Sweden’s biggest construction firms have warned that a local court ruling could trigger a crippling shortage of key materials in a case pitting environmental concerns against economic interests
- Europe has picked up the pace of vaccinations in recent weeks, allowing more people to travel during what’s typically the peak vacation period
- Businesses in the U.K. say there are signs the “pingdemic” is starting to ease as infection rates fall, while more staff may be deleting the tracing app
- Officials overseeing the U.S. transition away from Libor have formally endorsed a series of forward-looking term benchmarks tied to the Secured Overnight Financing Rate, which may propel its wider adoption across markets
- China’s factory conditions likely stabilized in July, implying a more steady recovery in the economy in the second half of the year
- Of all the numbers that lay bare the pandemic plight of blue-collar workers, few are as jarring as the pay cut suffered by the millions of Argentines who toil in off-the-book jobs
- Singapore’s success as a financial hub has long been tied to its openness to global talent, but as the city-state battles back from its worst recession, a backlash against overseas workers has forced its way up the agenda
- Strong second-quarter results from Taiwan’s biggest exporters underscore the island’s two-speed economy
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