Bloomberg Business

Global oil markets are on track for a sharp supply deficit of more than 2 million barrels a day this quarter as Saudi Arabia slashes production, OPEC data indicate.

Czech inflation eased further in July, boosting arguments for the central bank to start discussions about the timing and pace of monetary easing.

The UK’s Financial Conduct Authority said asset managers need to justify the fees charged on their funds as competition within the industry picks up.

Tapestry Inc., the owner of brands including Coach and Kate Spade, agreed to acquire Michael Kors parent Capri Holdings Ltd. in an $8.5 billion deal that shows the wave of consolidation in the luxury-goods sector is far from finished.

The container shipping industry’s year-long slump shows preliminary signs of turning the corner, though it’s not clear yet if a rebound is sustainable, the chief of Europe’s fourth-biggest carrier said.

Florida is the fastest-growing US state and, with more than 8,000 miles (12,875 kilometers) of coastline, one of the most prone to natural disaster. Now, with peak hurricane season approaching, a nonprofit created as an insurer of last resort has emerged as the state’s primary bulwark against damage and destruction.

The yen fell to the weakest against the euro since 2008 and neared a key level against the dollar, putting traders on guard for jawboning from Japanese officials, ahead of the release of potentially market-moving US inflation data Thursday.

Ukraine’s navy designated temporary Black Sea routes for trade vessels willing to navigate waters endangered by Russia’s military.

Moody’s Investors Service said Turkey’s credit rating could be upgraded if the country continues and deepens mainstream policies introduced since President Recep Tayyip Erdogan’s reelection in May.