Alphabet, Amazon, Meta and Microsoft all beat earnings expectations, as they reported on Wednesday, but Alphabet stood out, with its shares jumping 7% in extended trading on strong cloud growth.
The EU is reviewing its crypto regulations to address non-EU stablecoin issuers and emerging technologies like tokenization. Stakeholder consultations are ongoing, with lawmakers deeming a review inevitable due to global developments and institutional pressure.
Premier League clubs lost £948mn in 2024/25, a sevenfold increase from the previous year, despite record revenues of £6.8bn. Deloitte attributes the losses to increased transfer spending and a lack of one-off sale profits, with net debt rising to £3.6bn. Lower leagues face even greater financial strain.
The IMF warns that renewed Middle East tensions, following the unraveling of a ceasefire between Iran and the U.S., pose the most imminent risk to global economic growth and inflation. The conflict could raise commodity prices, disrupt supply chains, and heighten social unrest, while AI's economic impact remains uncertain.
Spain has proposed a new EU common borrowing mechanism worth up to €850 billion annually to create a benchmark safe asset, reduce financing costs for European firms, and strengthen the euro. The plan, to be presented by Economy Minister Carlos Cuerpo, faces opposition from Germany and the Netherlands but has support from France and Greece. Spain suggests a voluntary "European Sovereign Facility" with potential for a "coalition of the willing" if not all members participate.
Morocco's olive oil exports to Spain saw a dramatic 9,979% increase between early 2025 and early 2026, jumping from 103 to over 10,000 tonnes. While a significant rise, Moroccan oil still represents a small fraction of the Spanish market, which is also experiencing a production decline.
Uzbekistan is implementing a multi-billion-dollar strategy to boost its export economy by processing more agricultural goods, metals, and minerals domestically. Key targets include $10bn in food processing by 2030 and significant investments in technological metals and steel localization, aiming to increase national revenue and economic security.
