August 5, 2025
United States:
US Trade Gap Narrows to Tightest Since 2023 on Drop in Imports
The US trade deficit narrowed in June to the tightest since September 2023 as companies scaled back on imports after a massive surge earlier in the year.
The goods and services trade gap shrank 16% from the prior month to $60.2 billion, Commerce Department data showed Tuesday.
Europe:
UK Firms Face 4% Minimum-Wage Rise in 2026, Early Estimates Show
UK businesses are facing another inflation-busting jump in wage costs for their lowest-paid workers next year, the latest blow to labor-intensive sectors that have shed jobs in recent months.
The Low Pay Commission said indicative calculations suggest that keeping the minimum wage for workers aged 21 and over at two-thirds of median earnings would require a 4.1% increase to £12.71 ($16.896) from April 2026.
Asia:
China Services Growth Jumps to One-Year High on Travel Boost
China’s services activity unexpectedly accelerated in July to the fastest pace in over a year, a private survey showed, indicating resilience in the sector during the summer travel season.
The S&P China services purchasing managers’ index rose to 52.6 from 50.6 in June, marking the strongest expansion since May 2024, according to a Tuesday statement.
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