MILAN (Reuters) -RCS MediaGroup and Blackstone said on Friday they had reached an agreement to settle their legal row over the disputed sale of the Italian publishing company's headquarters to the U.S. fund in 2013.

China's economy contracted sharply in the second quarter while annual growth also slowed significantly, highlighting the colossal toll on activity from widespread COVID lockdowns, which jolted industrial production and consumer spending.

Traditional debt crisis signs of crashing currencies, 1,000 basis point bond spreads and burned FX reserves point to a record number of developing nations now in trouble.

SHANGHAI (Reuters) -China's central bank stood pat on its medium-term policy rate for a sixth straight month on Friday, as expected, with investors believing that the bank intends to gradually normalise monetary policy after the easing made during COVID lockdowns.

RCS MediaGroup and Blackstone have reached an agreement to settle the legal row on the disputed sale of the headquarters of the Italian publishing company by the U.S. fund in 2013, a source close to the situation said on Friday.

BEIJING (Reuters) -China's new home prices were unchanged in June after falling in the past two months, as strict COVID-19 curbs were eased and consumers took advantage of a slew of stimulus measures such as cuts in mortgage rates and smaller down payments.