The Global Economic News

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Image source, MG Finance Group Image caption, Joshua Elash (right) and his deputy CEO Gareth Lewis flew out to the World Cup to watch England play Croatia in their opening match By Jemma Crew and Oliver Smith , Business reporters Published 3 July 2026, 13:14 BST Updated 16 minutes ago As World Cup fever builds ahead of Monday's middle-of-the-night match, businesses are scrambling to work out how they handle the day after. Employees who are hoping to stay up late for England's clash with Mexico - which kicks off at 01:00 BST - will want to know what their options are. While some industries such as manufacturing and retail will be less able to provide flexibility, others are offering bleary-eyed fans later starts so they can catch up on sleep. Joshua Elash, who runs London-based firm MT Finance Group, is allowing his staff to start work at 11:00. "It wasn't a dilemma at all. This was as close to a no-brainer as a business can get," he says. "Everybody at this ...

Financial regulation is struggling to keep pace with the rapid development of artificial intelligence, according to European policymakers, who are grappling with how to support adoption while containing risks to market integrity and stability. Nikhil Rathi, CEO of the U.K.'s Financial Conduct Authority, said the traditional cycle of rulemaking "doesn't work" in an era of fast-moving technological change, particularly as agentic AI development accelerates. "Technology moves incredibly fast, and we need to think differently about some of the innovations that we are seeing on AI," Rathi told CNBC's "Squawk Box Europe" on Thursday. Rathi highlighted the efforts of Britain's Financial Stability Board on frontier AI, as well as the creation of the AI Safety Institute in the U.K., as part of a broader drive to help policymakers, regulators and businesses better understand the risks and adopt the technology safely. Christine Lagarde, president of ...

A prolonged and dangerous period of extreme heat across the central and eastern U.S. is poised to continue into the Independence Day weekend, exposing pressure points for power markets and transport. Temperatures of up to 105 degrees Fahrenheit (40.5 degrees Celsius) are expected, according to the National Weather Service, with some daily, monthly and all-time records possible. The conditions can bring increased risk for heat-related illness, particularly for vulnerable populations and those without adequate cooling, the NWS said. The heat wave threatens to overwhelm U.S. grids and may force some to cancel, postpone or otherwise change their plans on one of the busiest travel weeks of the year. Wholesale spot electricity prices jumped more than 243% in New England and 101% in New York City on Thursday, according to data from the U.S. Energy Information Administration. Power prices also rose by nearly 55% in the Midwest and 45.6% in the Mid-Atlantic. The surge in electricity prices com...

Image source, Reuters By Divya Arya BBC World Service Published 5 hours ago Warning: This story contains descriptions of abuse Instagram has been running paid adverts promoting child sexual abuse material in India, a BBC Eye investigation has found. The ads, seen by the BBC World Service, use terms including "rape video" and "child video" and link users to channels on the messaging app Telegram, where they can buy the material for as little as 99 rupees (about $1). Ads on Instagram are only published after first being approved by its moderation technology. When the BBC reported one of the ads to Instagram, the social media platform responded 24 hours later saying the post did not violate its "community guidelines". Later, when the BBC asked Instagram's parent company Meta for comment, it said it had already disabled several adverts and suspended the accounts posting them. The company said it had removed additional ads, disabled more accounts and block...

Image source, Reuters By Kate Wannel and Joshua Nevett , Political reporter Published 2 July 2026 Updated 50 minutes ago Andy Burnham, who is widely expected to take over as prime minister later this month, has said there is "some room" for movement on tax. In an interview with LBC, Burnham suggested business rates on warehouses could be increased to fund tax cuts for pubs and some high-street businesses. But the newly elected Makerfield MP said he would stick to the pledges Labour made not to raise VAT, income tax or national insurance in its general election manifesto in 2024. He also defended his credibility on economic policy, insisting he would not be "indisciplined" with the public finances if he becomes PM. Some on the left of the Labour Party have called for borrowing rules to be relaxed to fund more public spending. Burnham has faced criticism in the past for arguing , external that the UK had "got to get beyond this thing of being in hock to the bond...

Here’s What the Street Thinks About S&T Bancorp (STBA) Noor Ul Ain Rehman Wed, July 1, 2026 at 12:36 PM PDT 2 min read STBA S&T Bancorp, Inc. (NASDAQ: STBA ) is one of the best cheap small cap stocks to buy now . S&T Bancorp, Inc. (NASDAQ:STBA) received a rating update from Piper Sandler on June 26. The firm lifted the price target on the stock to $51 from $45 and maintained a Neutral rating on the shares, stating that it adjusted price targets in the Northeast bank group as part of a fiscal Q2 earnings preview. For additional reference, in its financial results for fiscal Q1 2026, S&T Bancorp, Inc. (NASDAQ:STBA) reported net income of $35.1 million for the quarter, compared to $34.0 million for fiscal Q4 2025 and $33.4 million for fiscal Q1 2025. Diluted earnings per share came up to $0.94 for fiscal Q1 2026, reflecting an increase of $0.05, or 5.6%, compared to $0.89 for fiscal Q4 2025, and an increase of $0.07, or 8.0%, compared to $0.87 for fiscal Q1 2025. S&T ...

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On the surface, a June drop in the unemployment rate helped provide some upside to what was an otherwise downbeat jobs report but it was for all the wrong reasons. That's because the decline in the jobless level to 4.2%, the lowest in a year, came largely from an exodus of workers from the labor force, according to the Bureau of Labor Statistics data Thursday. In fact, the measure of the working-age population either employed or looking for a job slid to 61.5%, the lowest since March 2021. Excluding the Covid-era jobs market, it was the lowest labor force participation rate in exactly 50 years. The decline in the labor force marks a "massive exodus" driven by multiple factors, said Mike Reid, head of U.S. economics at RBC. "The unemployment rate fell to 4.2% as both the number of unemployed workers and the size of the labor force pulled back," Reid wrote in a post-report commentary. "This may well be a story of retirements but could also be a story of prio...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Is your student loan repayment plan about to be eliminated? What borrowers should know. Kendall Little Senior Writer, Credit Cards Updated Wed, July 1, 2026 at 6:54 AM PDT 8 min read Repaying your student loans isn't just costly it can also be confusing. Both federal and private student loan borrowers have numerous repayment options with varying repayment periods and monthly payments. On top of that, many of the plans for federal loans are changing in 2026 , as updates from the One Big Beautiful Bill Act (OBBBA) are implemented starting in July. Drawn-out court battles can also impact student loan repayment, as happened with the doomed SAVE repayment plan . To help you navigate your student loan payments, here's a closer look at what repayment options are available for federal loans now, new repayment plans comin...

Ken Griffin's Citadel posted positive returns across its various hedge fund strategies in the first half of 2026, led by double-digit gains in its tactical trading and equities funds. The hedge fund firm's tactical trading fund, which combines discretionary equity investing with quantitative strategies, climbed 14.3% through the end of June after gaining 3.1% in June alone, according to a person familiar Citadel's returns who asked not to be identified because the information is private. Citadel's tactical trading fund also weathered a late-June shakeout in quantitative investing. Quantitative investing relies on mathematical models, statistical analysis, machine learning and algorithms to identify investment opportunities, build portfolios and manage risk. Earlier this week, Goldman Sachs' prime brokerage unit told clients that between June 23 and Monday, systematic long-short strategies had just suffered their worst five-day stretch since December 2023, hurt ...

President Donald Trump defended his family's business dealings in an interview Thursday with CNBC's Joe Kernen in the Oval Office at the White House . Trump said the presidency is so powerful that almost anything his children do could be considered a conflict . "If they buy an energy efficient truck, they have inside information," Trump said, while arguing that his children face unusually broad scrutiny because presidential policy touches nearly every part of the economy. "I tell my kids, 'stay away,'" Trump said. "But they also have a life. You know, they were doing business long before I ever thought of running for president." The comments came after Trump's 2025 annual financial disclosure report released Tuesday revealed that he made hundreds of millions of dollars in 2025, his first year back in the White House, from cryptocurrency-related ventures linked to his family. The disclosure showed more than $580 million in crypto-relate...

Image source, Johnny Image caption, Johnny and Lottie were gifted 4,000 at their wedding last September By Yasmin Rufo Business reporter Published 29 minutes ago Being a wedding guest can be expensive - there's travel, accommodation, you might even treat yourself to a new outfit - then there's another cost to factor in: the gift. It's now commonplace for invitations to read: "Your presence is enough, but if you would like to give us a gift, please donate to our honeymoon fund." But replacing the traditional gift list with bank transfer details, can leave guests with a new etiquette dilemma: how much are you expected to give? Wedding list service Prezola says it has seen a rise in couples inviting guests to pay for specific experiences rather than a generic cash pot. It says the average guest contribution is 116. But expectations can vary widely, depending on everything from closeness and culture to the cost of attending. Johnny, 34, says he and his wife Lottie co...

Here’s Why Delta Air Lines (DAL) is Among the 10 Most Undervalued American Stocks to Invest In Jeff Lewis Wed, July 1, 2026 at 7:49 AM PDT 2 min read DAL Delta Air Lines, Inc. (NYSE:DAL) is one of the 10 Most Undervalued American Stocks to Invest In . On June 30, 2026, Wells Fargo raised its price target on Delta Air Lines, Inc. (NYSE:DAL) to $105 from $75 and kept an Overweight rating. Wells Fargo raised its estimates and price targets as fuel falls and demand holds. The firm said the "skip '26" earnings thesis is set up well, and that shares can perform even after the recent rally. Wells Fargo remains most constructive on premium carriers United Airlines (UAL) and Delta Air Lines. On June 26, Citi raised its price target on Delta Air Lines to $106 from $79 and kept a Buy rating as part of a Q2 earnings preview for the airline group. Citi said nearly every airline is likely to beat Q2 estimates and provide Q3 guidance above consensus estimates. However, the firm noted t...

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