HSBC’s Green Says More Shocks Possible HSBC Chairman Stephen Green said the financial crisis isn’t over yet, though "we’re on our way out," and suggested that markets shouldn’t be complacent about the possibility of future shock (WSJ)
BMW Raises Outlook German luxury car maker BMW AG said Tuesday its profit in 2010 is set to rise more sharply than previously anticipated because vehicle sales are expected to be better than hoped and its financial-services division is experiencing a recovery. (WSJ)
German Economic Expectations Slump The ZEW economic think-tank’s survey for July fell to 21.2 points, continuing its steep decline after a showing of 28.7 points in June and 45.8 points in May. (WSJ)
SEB Swings to a Profit Swedish bank SEB swung to a net profit, as provisions for loan losses plummeted. (WSJ)
Moody’s Downgrades Portugal Rating Moody’s cut Portugal’s sovereign-debt rating by two notches to A1 with a stable outlook, citing the government’s weakening financial strength and meager economic growth prospects. (WSJ)
U.K. Inflation Slows to 3.2% U.K. consumer-price inflation eased slightly less than expected in June, but remained broadly on track to gradually fall back to the Bank of England’s target around the turn of the year. (WSJ)
IEA Expects Slow Growth in Oil Demand The International Energy Agency said it expects oil demand to slow next year in China and most other parts of the world, indicating that crude prices are likely to trade at subdued levels well into next year.(WSJ)
China offers Spain €1bn confidence vote Safe buys several hundred million euros of Madrid debt (FT)
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