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Situational awareness:

  • The number of U.S. retailers closing this year could rise to more than 12,000 by year-end, setting a new record. (CNBC)
  • A proposal to ban big tech companies from acting as financial institutions or issuing digital currencies has been circulated by top Democrats on the House Financial Services Committee. (Reuters)
  • Licenses for companies to re-start new sales to Chinese telecom Huawei may be approved by the U.S. in as few as 2 weeks. (Reuters)
  • China's GDP growth slowed to 6.2% in the second quarter, the weakest pace since quarterly data began in 1992, but in line with Chinese government projections, while factory output and retail sales growth beat estimates. (Bloomberg)