Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to 2 million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months.

The Philippine central bank will close its regular application window for new virtual asset service provider licenses for three years beginning September, it said in a memorandum. 

The regulator said it “aims to strike a balance between promoting innovation in the financial sector and ensuring that associated risks remain within manageable levels.” 

WeWork Inc. said Thursday board member Michel Combes has left the position after joining the board in October, 2020. The workspace company said Softbank Group International (SBGI) CEO Alex Clavel joined its board on Tuesday. Clavel has been responsible for managing SoftBank Corp.'s international investments including WeWork, T-Mobile , Deutsche Telekom and OneWeb. Shares of WeWork are down 40.6% in 2022, compared to a loss of 13.1% by the Nasdaq .

Ken Griffin’s on the list. So are Larry Ellison and Marc Andreessen. Not to mention Morgan Stanley and Sequoia Capital.

Twitter Inc. is subpoenaing a veritable Who’s Who of Wall Street and Silicon Valley as part of its legal battle to force Elon Musk to complete his proposed $44 billion acquisition. The social media company is on the hunt for any evidence that shows Musk’s claim that he pulled the plug on the deal over bot accounts is just pretext — investors, bankers, friends or anyone else Musk might have spoken to about the deal are fair game. 

HSBC’s top shareholder, Ping An, has escalated a dispute with the bank, accusing executives of exaggerating the downfalls of splitting off the Asian business, and insisted the move could instead boost the bank’s value by up to $35bn (£28.6bn), according to a source close to the investor.

It comes after HSBC’s chief executive, Noel Quinn, used an earnings announcement last week to defend the bank’s strategy and stress that its success was dependent on maintaining its global network.

US equity futures extended their post-CPI miss gains (for reasons laid out last night by Goldman's trading desk which sees $13 billion in non-fundamental demand every day and a new round of FOMO by lagging hedge funds), rising 0.4% on Thursday morning...

HONG KONG, Aug 11 (Reuters) - Ferry services between Macau and the southern Chinese city of Shenzhen will be suspended from Aug. 12, Macau's government said on Thursday, due to measures to curb COVID-19 infections, just days after it had been relaxed.

Ferry services had resumed on Aug. 8.

Russian forces “lost” nine combat aircraft in Crimea and one more in the Zaporizhzhia region, Ukrainian President Volodymyr Zelenskiy said Wednesday in his nightly video address.  

Speaking at an international donors conference in Copenhagen, Zelenskiy urged more funding and weapons for Kyiv. “The sooner we stop Russia, the sooner we can feel safe,” he said. Denmark and the UK, co-hosts of the meeting, each pledged more equipment. 

LONDON, Aug 11 (Reuters) - The dollar lost further ground versus other major currencies on Thursday, after traders reined in bets on an aggressive interest rate hike by the Federal Reserve after softer-than-expected U.S. inflation data the previous day.

The dollar index remained on the back foot in European trading hours, slipping 0.2% to 105.000, after recording its biggest daily fall in five months, of 1%, the previous day.

Data on Wednesday showed U.S. consumer prices were unchanged in July, month on month, after advancing 1.3% in June. read more

In the midst of an arid summer that set heat records across Europe, the continent’s rivers are evaporating.

The Rhine — a pillar of the German, Dutch and Swiss economies for centuries — is set to become virtually impassable at a key waypoint later this week, stymieing vast flows of diesel and coal. The Danube, which snakes its way 1,800 miles through central Europe to the Black Sea, is gummed up too, hampering grain and other trade.

Aug 11 (Reuters) - Metro system riders in California's San Francisco Bay Area may have noticed a new station guard in recent months.

A 5-year-old Harris's hawk named Pac-Man has taken up the perch at El Cerrito del Norte station, where he's on the look out - not for fare evaders, but pigeons.

Ricky Ortiz, a falconer with Falcon Force and Pac-Man's handler, began patrolling with the bird at the station this summer, contracting with the Bay Area Rapid Transit system, or BART, to keep the pigeons at bay and protect commuters from pigeon poop.

The UK provisionally recorded its highest-ever temperature on 19 July, with a reading of more than 40 degrees Celsius — 104 degrees Fahrenheit at Heathrow.

“I suspect this record is going to be broken several times over the course of the day,” said Bob Ward, the communications director of the Grantham Research Institute on Climate Change and the Environment. “Peak temperatures are around 3 or 4 in the afternoon. The record will undoubtedly be smashed.”