The Global Economic News

Cleveland Federal Reserve President Beth Hammack said Tuesday that "insatiable" demand for artificial intelligence infrastructure is fueling inflation. Should that and other pressures continue to keep prices elevated, that could drive the need for higher benchmark interest rates , the central bank policymaker said in a CNBC interview. "We've got inflation that's too high, and it's been too high for the past five years," Hammack told CNBC's Sara Eisen on the sidelines of the European Central Bank Conference in Sintra, Portugal. "When I look at policy, if that continues, it may mean that we need higher interest rates to bring inflation back down to target." Hammack honed in on AI spending, particularly citing a manufacturer in her district involved in electric switching for data centers. "What they say is that the demand is insatiable, that these companies these hyper scalers will pay almost any price for those inputs, and they need thi...

A $400,000 Annuity Guarantees $2,600 a Month for Life, but Here Is the $190,000 Retirees Are Giving Up Carl Sullivan Tue, June 30, 2026 at 7:35 AM PDT 5 min read Quick Read A life-only SPIA on $400,000 pays $2,600 monthly but surrenders roughly $190,000 in residual estate value to the insurer at death. Most of each annuity check is simply return of principal, not yield, and fixed payments lose real value as inflation compounds over decades. Partial annuitization covers only the gap between Social Security and fixed expenses, keeping remaining assets liquid, inheritable, and invested. Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here. A 65-year-old retiree with $400,000 set aside is considering an annuity that pays roughly $2,600 a month, guaranteed for life. That...

An event that was meant to celebrate an exceptional nation has been cornered by one man 🔥 EXCLUSIVE PARTNER OFFER KINGROON 22LBS PETG or PLA filament 3D Printer Filament 10 Rolls 1KG 1.75MM Eco-Friendly Good Toughness Mix Color Free Shipping Special Price 💥 Massive discount! Save big on this must-have item. Free shipping available! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/1278f6d8-7e56-40c2-a255-0798ba96e360 © EcoNews DZ — Global Economic & Financial News

Stocks making the biggest moves premarket: AVAV, MSTR, MRK Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves in the premarket: AeroVironment The drone maker rallied 30% after reporting an earnings and revenue beat. AeroVironment earned $1.84 per share on revenue of $642 million . Analysts polled by LSEG expected a profit of $1.46 per share on revenue of $559 million. Digital Realty Trust The real estate investment trust sank 4.5% after agreeing to purchase a stake in three fully leased data centers from Blackstone for $7.8 billion . Merck , AbbVie Merck shares lost 0.6%, while AbbVie slid 0.5%, after Reuters reported that a U.S. House committee began a probe into whether the drugmakers were involved in trials that took place in China that aided the country's military capabilities. Strategy The crypto proxy stock lost more than 3%, giving back some of Monday's sharp gains...

Image source, Estunlar.fo Image caption, The Faroe Islands serve as the inspiration for the Shetland tunnels project By James Cook , Scotland Editor and John Johnston , BBC Scotland , Reporting from Lerwick Published 29 June 2026 Updated 6 hours ago Undersea tunnels connecting some of the UK's most northerly islands could be in place within eight years, under plans expected to be approved on Tuesday. A feasibility study for Shetland Islands Council proposes replacing ageing ferries with tunnels from Shetland's mainland to Yell and from Yell to Unst, describing them as "economically transformative". Two more tunnels, to the islands of Whalsay and Bressay, could follow under the plans, which are estimated to cost 1.5bn. Council leaders say the tunnels would be cheaper than building new ferries and replacing harbours. The council is expected to explore funding from a mixture of private investment, public subsidy and borrowing, along with tolls covering maintenance costs...

Around $2.3 trillion has been wiped off the value of the Magnificent 7 this month as the tech giant's huge infrastructure spending is increasingly scrutinized by investors, who see stronger returns in other parts of the market. The Mag 7 comprises Microsoft , Nvidia , Alphabet , Apple , Meta , Tesla and Amazon . The CNBC Magnificent 7 Index has fallen 10% so far in June. These companies, in particular Amazon, Microsoft, Alphabet and Meta, are collectively spending hundreds of billions of dollars buying chips and building data centers to power their artificial intelligence services. Some of this investment is being fueled by debt. Investors are waiting to see a return on those investments, with all eyes on the second quarter earnings season, which kicks off next month. "We are going through another 'gut check' few weeks ahead for the tech trade as tech investors await a very important 2Q earnings season in July to further validate the AI Revolution buildout," Dan ...

Oil Markets Are Pricing A Supply Surge That Isn’t Guaranteed Irina Slav Sun, June 28, 2026 at 4:00 PM PDT 5 min read Crude oil prices are in freefall after the United States and Iran agreed on a ceasefire, set to last 60 days. Traders expect the ceasefire to unleash an avalanche of crude, and indeed, tankers are leaving the Persian Gulf in growing numbers. And yet Iran just struck a commercial ship in Hormuz. Bloomberg reported earlier this week that the ceasefire prompted huge discounts in available crude cargoes, noting how Angolan crude was selling at a $10 discount to dated Brent for the first time in a decade. Not only this, but Chinese refiners were offering crude oil cargoes for sale, the publication wrote, citing unnamed traders. "You actually get a discount to buy a barrel now versus a barrel tomorrow because of the weakness in the Asian pull on Middle Eastern grades," Daan Struyven, co-head of global commodities at Goldman Sachs, told Bloomberg. "Reopening is ...

Why Verizon, AT&T, and T-Mobile Should Be Terrified of Elon Musk’s Next Move Rich Duprey Sun, June 28, 2026 at 1:30 PM PDT 4 min read SPCX VZ T TMUS A close-up of a SpaceX sign by Sundry Photography via Adobe Stock The telecommunications industry has spent decades building towers, laying fiber, and battling for every wireless subscriber. Now the next competitive threat may not come from another carrier at all. It could arrive from orbit. According to a Financial Times report, SpaceX (SPCX) plans to launch a direct-to-consumer Starlink mobile service in the U.S., marking a shift from partnering with wireless companies to competing with them. For investors, the move isn't just about mobile phones. It highlights how SpaceX is transforming Starlink from a satellite broadband provider into a full consumer connectivity platform and one that already generates the company's profits. More News from Barchart Billionaire Mark Cuban Asks If AI 'Collapses' And Data Centers Turn...

Hello, this is Leonie Kidd writing to you from London. Welcome to today's edition of the Daily Open newsletter. No more unconventional instruments, no more complex forward guidance and no more force. That's the message from ECB President Christine Lagarde on shaping Europe's future, as she welcomes the world's central bankers to Sintra, Portugal for the continent's version of Jackson Hole. European Central Bank President Christine Lagarde has used her curtain-raiser speech in Sintra, Portugal to say it's time for the ECB to go back to basics . "We no longer need to reach for unconventional instruments... we no longer need to act with the same force... and we no longer need complex forms of forward guidance," she said. The ECB president also touted the central bank's recent decision to raise rates, saying it was "justified under every scenario. It was, by design, a robust decision." This morning, "Squawk Box Europe" will speak t...

Technology that helps people do things they couldn’t otherwise achieve can also lead to atrophy 🔥 EXCLUSIVE PARTNER OFFER Kemei KM-2296 KM-2299 KM-1102 Hair Clipper Kit Men's Electric Shaver Hair Trimmer Machine Professional Hair Cutting Machine Special Price 💥 Massive discount! Save big on this must-have item. Free shipping available! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/b2eeb915-90db-4308-9a1e-f3c29553403c © EcoNews DZ — Global Economic & Financial News

The vaunted investor has spawned a small army of new firms mirroring Julian Robertson’s ‘Tiger cubs’ 🔥 EXCLUSIVE PARTNER OFFER Makita Cordless Electric Screwdriver | 3.6V 5N.m Torque | 1/4" Chuck | 1300mAh Li - ion Battery.HT422 Special Price 🎁 Special promotion! Perfect gift idea at an unbeatable price. Shop now! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/b5fc43da-45b1-4e56-a278-6edbeba04b7d © EcoNews DZ — Global Economic & Financial News

Pendulum ‘swinging back towards economic nationalism’, warns one private equity executive 🔥 EXCLUSIVE PARTNER OFFER New P70 Air Blower 110000Rpm 4 Gear Adjustable Turbo Blower Jet With Led Light Battery Display Cordless Compressed Air Duster Special Price 🎯 Best price guarantee! Order now and enjoy fast shipping with global tracking. 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/18782c9a-27fb-4dc4-a044-f1bc38d9d494 © EcoNews DZ — Global Economic & Financial News

SpaceX Stock Has Already Lost Most of Its IPO Gains. It’s Not Time to Buy Until Shares Fall Below $135. Patrick Sanders Sun, June 28, 2026 at 8:00 AM PDT 5 min read SPCX Space Exploration Technologies (SPCX) is continuing to take investors on a roller coaster ride and I don't expect it to end any time soon. After launching the biggest initial public offering in stock market history, raising an incredible $85.7 billion, SpaceX rattled the markets this week when it said it needed you guessed it even more cash. SPCX stock sold off fast Monday, dropping 16%, as the company sold off bonds to raise another $25 billion on top of the $85 billion that it raked in during its IPO, according to CNBC . The company now has more than $100 billion in cash. More News from Barchart Billionaire Mark Cuban Asks If AI 'Collapses' And Data Centers Turn Into 'Chuck E Cheeses,' Would That 'Create A Revival Of Jobs?' As Trump Doubles Down on Quantum Computing, This Is the Top-Perfo...

The country is a case study in the spillovers of conflict—both positive and negative 🔥 EXCLUSIVE PARTNER OFFER RYET 3D Printed Bike Saddle Ultralight Carbon Fiber Hollow Comfortable Breathable MTB Gravel Road Bicycle Cycling Seating Parts Special Price 🎯 Best price guarantee! Order now and enjoy fast shipping with global tracking. 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.economist.com/finance-and-economics/2026/06/29/turkeys-economic-plan-to-win-from-the-iran-war © EcoNews DZ — Global Economic & Financial News

Hi, this is Evelyn, writing to you from Beijing. Welcome to the latest edition of The China Connection a snapshot of what I'm seeing and hearing from local businesses. As more Chinese tech companies set their sights on global users, competition with the U.S. enters a new phase. From data centers to artificial intelligence applications, Chinese companies are expanding rapidly outside their home market, just as American firms race to do the same . " US tech investors need to keep a very close eye on the growing competition from China tech because as we've seen, many Chinese companies first prioritize market share over profit margins," market strategist Peter Boockvar wrote on June 24. Launching low-cost AI models with capabilities that rival American-made ones was only the first step. Next is industrial integration. It's a sign that price and functionality will increasingly matter as economic competition expands globally clearly illustrated by events over the past ...

Image source, Alan Donegan Image caption, Katie and Alan Donegan were able to retire when he was 40 and she was 35 By Alice Kantor Business reporter Published 49 minutes ago Every winter, Alan and Katie Donegan would avoid turning on the heating at their home in the south of England. "Instead, we wore extra layers and used hot water bottles - we turned it into a game," says Alan. "It wasn't suffering, it was strategy." While the couple admit that others thought they were "extreme" or "mad" to put so much emphasis on not spending money, Alan explains that they were "laser-focused on buying freedom". By "freedom" he means early retirement, which the Donegans managed to achieve seven years ago when Alan was only 40, and Katie just 35. The two rarely had takeaways and always took packed lunches to work. "We were 40,000 better off over 10 years from just that one lunch habit," says Alan. "We even charged our pho...

Q3 Results Proved That the Stars Are Aligned for Micron Stock Pathikrit Bose Sun, June 28, 2026 at 7:00 AM PDT 7 min read MU GOOGL NVDA SPCX In different points of the market, investors find their new favorites. While in recent years it has been Nvidia (NVDA) or Alphabet (GOOGL) (GOOG), the wider AI trade has anointed a new darling: Micron (MU). Undoubtedly, with a rally of 296.74% year-to-date (YTD), shares of the memory chip major have been a massive hit with investors. In fact, the hype around the company was eclipsed only by those who were not even listed on the exchanges, like SpaceX (SPCX), OpenAI, and Anthropic. www.barchart.com Now, following a sensational set of numbers for its fiscal Q3, leading brokerages on Wall Street are reinforcing their bullish views about the company. One of them is the reputed broker, Stifel. More News from Barchart Billionaire Mark Cuban Asks If AI 'Collapses' And Data Centers Turn Into 'Chuck E Cheeses,' Would That 'Create A Rev...

Image source, Getty Images By Ben Chu Policy & Analysis Correspondent, BBC Verify Published 2 hours ago Andy Burnham promised the "biggest rebalancing of power our country has seen" as part of his plans for the UK if he becomes the next prime minister. In his first major policy speech, Burnham said on Monday he would seek to take power away from Whitehall and devolve it to all parts of the UK. This would include Greater Manchester and other city regions in England. But the former Mayor of the Greater Manchester Combined Authority also said he would further extend devolution in Scotland, Wales and Northern Ireland - though not giving detail - and also promised to give Greater London more devolved powers. Burnham, who was sworn in as the new MP for Makerfield last week, said this radical devolution of power was essential for delivering higher economic growth in all parts of the UK. "We will never get growth up to the level Britain needs unless every single postcode in...