Philippe told lawmakers that the government would cut income tax for middle-class workers and would completely scrap a housing tax. Philippe said unemployment benefits for the highest earners would gradually decrease to encourage the jobless to get back to work more quickly. On the highly sensitive subject of pension reform, Philippe said the government would create incentives for the French to stay on the job longer than the current minimum legal retirement age of 62. Source: France 24
The US State Department on Tuesday called on Turkish authorities to cease immediately any “unlawful activities” in Cyprus’ territorial sea and remove its drillship, Yavuz. Source Ekathimerini
Taiwan’s export orders may have fallen 5.9% year on year in July, according to a survey, widening from June’s 4.5% decline. Source: Reuters
The Bundesbank has warned that a slump in the German economy could have continued over the summer. It cited the US-China trade war as one factor weighing on German exports. Source Deutsche Welle
