Oil prices experienced volatile trading as U.S.-Iran talks in Switzerland were canceled due to logistical issues. Vice President JD Vance noted Iranian ships honored commitments. OPEC anticipates continued oil demand, rejecting IEA's supply glut forecasts. Analysts predict near-term prices between $75-$82.
Indian IT stocks plummeted Friday, losing Rs 1.35 lakh crore in market value after Accenture's weaker-than-expected outlook fueled fears of AI disruption. Infosys led the decline with an 8% drop, as investors worry about generative AI's impact on traditional IT services.
Andy Burnham won the Makerfield seat by-election with a significant majority, fueling speculation about his leadership ambitions within the Labour party and a potential challenge to Sir Keir Starmer.
Andy Burnham secured a significant by-election victory in Makerfield, winning more votes than all rivals combined. His win fuels speculation about his leadership ambitions within the Labour party, positioning him as a potential challenger to Sir Keir Starmer and a strong contender against Reform UK.
OPEC+ countries plan to boost oil supply by nearly 14 million bpd from 2025 levels to 64.5 million bpd by 2050, increasing their global market share to 52%. By 2030, supply is projected at 55.3 million bpd, with non-OPEC+ supply also rising.
Bitcoin fell around 2% to $64,300 after the Federal Reserve's FOMC meeting indicated a potential rate hike by year-end, shifting from previous expectations of cuts. Major stock indices also declined, reflecting a broader risk-off sentiment.
A survey by a New York-based institute found 71% of Hong Kong graduates are highly optimistic about their career prospects, significantly above the global average of 59%. Graduates view Hong Kong's finance sector positively and are proactively using AI in job applications.
Fed officials removed their rate cut outlook for this year, indicating a hike is possible. Member Warsh declined to submit his forecast for the "dot plot," criticizing the tool and signaling a review of Fed communication. Projections now show a median fed funds rate of 3.8% by year-end 2026.
BMW shares dropped to a 5-year low after the German automaker lowered its 2026 profit forecast due to declining demand in China and disruptions from the Iran war impacting costs and consumer sentiment. Analysts expressed concern over a lack of clarity on company structures and costs.
BMW AG anticipates a substantial decline in pre-tax profit due to weakening demand in China and the impact of the Middle East crisis. The company has lowered its profitability targets and plans to accelerate cost-cutting measures.
The International Energy Agency (IEA) predicts a 1.1 million bpd drop in global oil demand in 2026 due to the Middle East conflict, revising its May forecast downwards. Demand fell sharply in April-May, with recovery expected in Q4 2024.
Elara Securities reports India's FY27 export outlook is challenging due to moderating global demand and high electronics imports. However, a weaker rupee, strong services exports, and remittances are expected to cushion external pressures, suggesting the worst phase is behind.
India gains short-term macroeconomic relief from a US-Iran peace deal easing oil prices and stabilizing trade. However, early monsoon weakness and potential El Niño conditions present the next major test for growth and price stability, shifting focus to domestic climate risks.
A US-Iran peace deal offers India a near-term macroeconomic reprieve by lowering oil prices and stabilizing trade. However, early monsoon weakness and potential El Niño conditions are emerging as the next major challenge for growth and price stability, shifting focus to domestic climate risks.
Google co-founder Sergey Brin believes AI will supercharge human progress rather than make jobs obsolete. He cited AlphaGo's impact on Go players as an example of AI acting as a training partner that pushes humans to new heights.
A 48-year-old Hongkonger with over 20 years of experience as a light goods van driver is considering a career change to become a private driving instructor due to a gloomy economic outlook and increased competition in the logistics industry. He sees an opportunity with the Transport Department's announcement of 332 new licenses for driving instructors.
Dnv riduce le previsioni sull'idrogeno pulito ma prevede investimenti per 3.000 miliardi di dollari entro il 2060. La tecnologia è matura, ma mancano domanda stabile e politiche di sostegno. La Cina dominerà la produzione di elettrolizzatori.
Bitcoin ETFs have shed $2.1 billion in June, continuing a trend of outflows that has seen net assets decline significantly. Experts cite macroeconomic and geopolitical factors, including inflation and the US-Israel war, as key drivers, with differing views on the market's recovery.
France faces a challenging economic outlook for 2026, with forecasts predicting slower growth and higher inflation. The European Central Bank's recent interest rate hike, driven by energy prices and the war in Iran, is impacting real estate credit, raising concerns for consumers and borrowers.
The Kiel Institute for the World Economy (IfW) maintains its 2026 growth forecast for Germany at 0.8% despite Middle East conflict impacts. However, the 2027 outlook is cut from 1.4% to 1.0%. Rising commodity prices and geopolitical tensions are dampening economic dynamism.
The German economy's recovery hinges on the Gulf conflict's outcome, warns the IWH. Tensions and rising energy prices could lead to stagnation in 2026, while easing could bring 0.9% growth. State spending and exports offer some support.
Microsoft's long-standing issues with apps like Outlook and Weather are highlighted, with XDA reporting poor optimization and high memory usage. Clipchamp's offline limitations and Microsoft 365's pricing model are also criticized.
KKR's mid-year report predicts AI will drive a productivity boom, but warns this growth may concentrate in fewer sectors, potentially leading to extreme economic shifts not seen since the 1870s. Defense and power sectors are identified as long-term winners.
Gold prices show a bearish structure with a downtrend in place, facing resistance at 152,000. Silver trades cautiously with a negative bias, with resistance at 240,000. Experts advise caution and risk management.
