The long-awaited bump in bankruptcy filings has arrived, as submissions under chapter 11 rose 77% in July. There were 637 filings under chapter 11 of the bankruptcy code last month across the U.S, compared with 359 at the same time last year. It is the most monthly new chapter 11 filings in nearly three years. Source The Wall Street Journal
The U.S.-China trade war deepened as Beijing announced retaliatory tariffs on $60 billion of U.S. goods and the Trump administration threatened duties on virtually all Chinese imports. Source: Bloomberg
The St Petersburg International Mercantile Exchange (SPIMEX) has launched crude oil trading with loadings on the peninsula of Crimea that Russia annexed from Ukraine in 2014, data published by the exchange showed on Tuesday. Source: Reuters
Saudi Arabia’s state oil firm Saudi Aramco plans to spend more than US$133.3 billion (500 billion Saudi riyals) on oil and gas drilling over the next decade, Saudi Aramco’s Senior Vice President for Upstream said at an event on Monday. Source: Oil Price
