The PBOC makes its biggest ever cut to the country’s benchmark mortgage rate as authorities look to shore up the beleaguered Chinese property sector. In banking news, Capital One strikes a $35bn deal to snap up credit card issuer Discover Financial – the largest acquisition so far this year. German industrial giant Bayer slashes its dividend by 95 per cent to the lowest legal level in a bid to drastically cut costs and alleviate its debt situation. The world largest listed mining company, BHP also reduces its dividend payout following a plunge in H1 net profit as commodity pricing remains rocky. And we are live at the Singapore Air Show where China prepares to unveil its first home-grown passenger aircraft. IATA director-general Willie Walsh tells CNBC the aviation sector is still seeing examples of supply chain concerns.  

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