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European economies face significant economic losses from heatwaves this summer, with analysts estimating €180 billion could be wiped from EU GDP due to infrastructure shutdowns, reduced productivity, and disrupted supply chains.
UK inflation is forecast to rise to nearly 3% in July as soaring energy bills squeeze household budgets, with economists warning of a renewed cost of living crisis amid global energy market volatility.
Invitation Homes CEO says a recently passed ban on institutional homebuying will eventually lower prices but not immediately, citing mortgage volatility and construction costs as near-term obstacles.
General Motors has entered a $4.5 billion parts purchasing facility with Procura Auto Parts, designed to secure critical components and avoid supply chain disruptions through advance supplier payments.
Prime Minister Andy Burnham acknowledged his cost-of-living measures are insufficient but indicated additional support measures are planned for the upcoming Budget.
US annual inflation eased to 3.4% in July from 3.5% in June, with food and energy costs cooling, though housing expenses remain elevated.
