The Global Economic News

Image source, Getty Images By Faarea Masud Business reporter Published 23 June 2026, 07:27 BST Updated 5 hours ago Ticket reseller StubHub UK has been ordered to refund more than 50,000 customers and pay a 900,000 fine for not showing people the total price upfront when buying tickets. Each customer is expected to receive 10 on average per transaction, following an investigation by the Competition and Markets Authority (CMA). The regulator said StubHub UK would contact fans about their refund. StubHub International said the hidden fees were as a result of an "isolated platform error" that led to some charges appearing at checkout rather than earlier in the buying process. "Our UK platform is designed to display all fees upfront," it said, adding that it had "identified and corrected the issue promptly, and all affected customers will receive an automatic refund". The fine for StubHub International, which operates in Europe, comes as the CMA investigated s...

Image source, Adam Hassanjee Image caption, People queue at passport control in Milan Bergamo on 16 April By Theo Leggett Business correspondent Published 23 June 2026, 13:57 BST Updated 1 hour ago The head of Europe's airports trade body says concerns over the region's new digital border control system are keeping him and other industry bosses awake at night. Earlier this year, the EU completed the roll out of its Entry-Exit System (EES) . It requires travellers from outside the EU to register biometric information when entering most European countries, which is then checked when they leave. Although EES has been working well in some countries, it has also been blamed for causing significant delays at a number of airports, with some passengers missing flights. Stefan Schulte, president of ACI Europe, said politicians should "stop pretending... that EES is working just fine. It is not." Schulte, who is also head of the company that owns Frankfurt Airport, told an ind...

Stocks making the biggest moves premarket: IBM, QCOM, ORCL, UUUU Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making headlines before the bell: IBM The legacy tech stock was a bright spot in the broader sector selloff, rising more than 4% following an upgrade to overweight at JPMorgan . "Software continues to drive better recurring revenue, margins, profitability, and cash flow," analysts at the bank said. AMC Entertainment The movie theater chain tumbled, falling 21%, after the company said it's entered a definitive agreement with certain institutional investors for the sale of 95.3 million shares of AMC common stock, amounting to roughly $200 million. The stock last closed at $2.76. Qualcomm The semiconductor stock slid 6% after Bloomberg News, citing people familiar, reported that Qualcomm is in advanced talks to acquire AI software infrastructure company Modular in a deal valued at...

Image source, PA Media By Mitchell Labiak Business reporter Published 23 June 2026, 11:47 BST Updated 44 minutes ago With Sir Keir Starmer resigning, Andy Burnham, the newly-elected Makerfield MP, is almost certain to be the next UK prime minister. And many believe he will want a new chancellor to replace the current occupant of Number 11 Downing Street, Rachel Reeves. That person will face quite the in-tray high debt, low growth, welfare reform, defence spending, and the economic fallout from the US-Israel war with Iran to name a few issues. Here are the names of those believed to be in the running for the job and what they could mean for your finances. Wes Streeting Image source, Getty Images The bookies' favourite to be chancellor is a former contender for the leadership, Wes Streeting. Having instead thrown his weight behind Burnham, the thinking is the former health secretary could be awarded the number two job in British politics for his loyalty. However, economist and cross...

Oracle shed 21,000 jobs, almost 13% of its workforce, in the past year, as tech giants carry out sweeping layoffs as a result of AI. The company's total workforce stands at 141,000 full-time employees as of May 2026, it said in its annual regulatory filing on Monday. That's down from 162,000 employees at the same time the previous year. This represents an almost 13% cut in its total workforce. Oracle's stock was last seen down 3.6% in premarket trading and is down 15.4% since the beginning of the year. The move lower came amid a global tech selloff . Oracle shares in the year-to-date. "The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," Oracle said in the filing. The company spent $1.8 billion on restructuring costs, including severance payments and other exit costs, a jump from the $374 million it spent on restructuring the previous year. Oracle noted that the workforce ...

Your country's World Cup loss could tank your portfolio the next morning and a win wouldn't bring it back seventyfourimages/Envato Chase Kell Tue, June 23, 2026 at 3:30 AM PDT 4 min read ^GSPC With the World Cup in full swing, soccer fans around the world have a lot riding on their home team’s success, but you don’t exactly need to be a sports fan in order to be invested in your country’s performance. As Marketwatch reports, the stock market’s reaction (1) to World Cup results has been well documented over the years. Take the 2022 tournament, for example. During the elimination round, the global stock market fell by 4.6% while the S&P 500 dropped by 5.4%. Must Read Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this explosion’ Millionaires under 43 hold only 25% of their wealth in stocks. Surprised? Here’s where their money is actually going Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100...

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SpaceX shares fell more than 3% in premarket trading on Tuesday, following a $400 billion selloff on Monday as a post-debut rally fizzled out. The space and AI company saw huge gains after a record-breaking IPO on June 12, briefly surpassing Amazon and Microsoft in market capitalization, before falling back below both as sentiment cooled. The stock tanked 16% on Monday, following drops of 3.6% and 5% the previous two days of trading. SpaceX's market cap was $2 trillion at close on Monday. Shares were trading at 3.43% down as of 4.30 a.m. E.T. SpaceX stock. The company announced on Monday a senior unsecured notes offering and disclosed that it had $100.8 billion in cash and cash equivalents on hand as of June 19. That same day, SpaceX also revealed it has signed a major computing power agreement with open-source AI startup Reflection, providing the company with access to Elon Musk 's Colossus infrastructure. SpaceX's stock surged after its blockbuster debut, with shares r...

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Ticket reseller StubHub ordered to refund customers over hidden fees Just now Share Save Add as preferred on Google Faarea Masud Business reporter Getty Images Ticket reseller StubHub UK has been ordered to refund more than 50,000 customers and pay a 900,000 fine for not showing people the total price upfront when buying tickets. Each customer is expected to receive 10 on average per transaction, following an investigation by the Competition and Markets Authority (CMA). "Hitting customers with hidden fees is illegal. It's not fair to draw people in with what looks like a good deal, only for them to find the real price is higher when they get to the checkout due to extra charges that can't be avoided," said Emma Cochrane, executive director of consumer protection at the CMA. The regulator said StubHub UK would contact fans about their refund. The fine for StubHub comes as the CMA investigated several firms as part review of online pricing practices, such as drip prici...

On June 23, 2016, Britons headed to the polls to vote on whether to stay in the European Union. A shock result emerged overnight: the electorate had voted to leave the bloc by 52% to 48%. The pound tanked. London's FTSE 100 tumbled. Then-Prime Minister David Cameron who had called the referendum and led the campaign for the Remain vote resigned. Since then, the U.K. haggled for a deal, as Cameron's successor, Theresa May, failed to pass a proposal three times before stepping down. Brexit was eventually delivered by Prime Minister Boris Johnson in 2020. The Brexit campaign promised to "take back control" of immigration, free up more money for the country's health service, and forge trade deals with the rest of the world. A decade later, Brexit still looms over life in Britain. Here's how the U.K.'s economic and political scene has fared since then, in charts: The U.K. economy has largely failed to experience a post-Brexit boost after upending ties with its...

Hormuz Status, MU Earnings and Other Key Things to Watch this Week Gavin McMaster Sun, June 21, 2026 at 10:00 AM PDT 6 min read SPCX Markets enter a busy week focussed on volatility around Iran negotiations and the Strait of Hormuz, where Iran announced Saturday it was closing the waterway citing ceasefire violations, only to commit to sending negotiators to Switzerland for Sunday talks with Vice President J.D. Vance. The U.S. and Iran signed a memorandum of understanding last Wednesday that opened Hormuz with Lebanese ceasefire components, though fighting between Israel and Iranian-ally Hezbollah resumed Saturday despite their Friday agreement. More News from Barchart Oracle Stock Tumbles on Higher Capex and Equity Raise - Shorting ORCL Puts Works Micron Technology Earnings: Bull Put Spread Trade Stop Missing Market Moves: Get the FREE Barchart Brief your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! The situati...

Indian fintech startup Cred will raise $900 million in a funding round led by Mark Zuckerberg's Meta but has lost its founder and chief executive, Kunal Shah, to WhatsApp. The startup, where Meta will soon become a minority investor, was valued at over $4 billion in its latest funding round, the Indian firm said in a press release on Monday. These funds will be used to "accelerate growth, build institutional muscle, and extend its leadership across categories," it added. Cred is a platform built for affluent and creditworthy Indians that rewards them for using it to manage and pay credit card bills. It was founded by Shah less than 10 years ago and, according to the company, now processes over 40% of credit card bill payments in the country and is building a lending business. Meanwhile, Meta's WhatsApp has 500 million people in India using its messaging services, but is struggling to popularize its payment tool , WhatsApp Pay, in the country's hyper-competitive d...

Hello, this is Gail Krishnan writing to you from Singapore. Welcome to today's edition of CNBC's Daily Open. On Wall Street, a rotation out of big tech dragged the S&P and Nasdaq lower. That offset more encouraging newsflow on Iran as the U.S. agreed to waive Iranian oil sanctions for 60 days. Meanwhile, 10 Downing Street will soon get a new occupant, for the seventh time in 10 years. Japan has long held the dubious honor of a revolving door of prime ministers. But on the 10th anniversary of Brexit, Britain is finding itself in increasingly familiar territory. Oil prices slid further below $80 after the U.S. waived Iranian oil sanctions for 60 days following the first day of talks, a move that could bring more Iranian crude back onto global markets and ease supply worries. Iranian President Masoud Pezeshkian is due in Pakistan today for further talks. U.S. Vice President JD Vance on Monday hailed "great progress " in negotiations, saying Tehran had agreed to allo...

S&P 500 futures traded near the flatline on Monday night after a sell-off in tech giants dragged down the broad market index. S&P 500 futures lost 0.1%, and Nasdaq 100 futures slid 0.2%. Futures tied to the Dow Jones Industrial Average rose 22 points, or less than 0.1%. During the day's regular session, a decline in the technology sector pulled the S&P 500 to a loss of 0.37%. The tech-dominant Nasdaq Composite fell 1.32%. On the other hand, a gain in shares of Caterpillar boosted the Dow by 148.01 points, or 0.29%. Asia-Pacific markets were mostly higher at the open. Japan's Nikkei 225 added 0.19%, while the Topix slid 0.12%. South Korea's Kospi gained 0.1%, while the small-cap Kosdaq was up 0.21%. In Australia, the S&P/ASX 200 advanced 0.33%. Investors rotated out of the "Magnificent Seven" names on Monday, with Amazon dropping nearly 5% and Meta Platforms falling 2%. Alphabet shares slipped 5%, notching their worst daily performance in over a ye...

President Donald Trump on Monday hedged when asked if he could guarantee that Iran would not use profits from oil sales to rebuild its military in the wake of the war with the U.S. and Israel . Trump said the money was expected to be used to buy American agricultural products. However, an Iranian central banker said the country is under no obligation to buy agricultural products from the U.S. "Well, they're not supposed to be doing that, so we'll see," Trump told CNBC's Eamon Javers at the White House during an executive order signing event when asked if he could ensure Iran would not use oil money for that purpose. "But they're supposed to use money to buy food for their people, because right now their people are very hungry, and they're buying it exclusively from us: corn, soybeans," Trump said. "Should be a lot of money," he said. "I hope it's a lot of money." Trump also said Iranian funds that are being unfrozen as pa...

Beijing has stepped up corporate regulatory enforcement this year, though analysts say it's unlikely to pursue a repeat of the 2021 crackdown that wiped out more than $1 trillion from Chinese tech stocks. Since January, officials have opened a formal antitrust probe into the country's largest online travel agency Trip.com and summoned a dozen tech giants including Alibaba, Tencent, ByteDance's Douyin, Baidu, JD.com and Meituan over aggressive price competition and promotional claims ahead of a shopping festival in June. They also sent a stern warning earlier this month to Walmart China over repeated food-safety failures at its wholesale retailer Sam's Club. "The concentration of actions and number of companies involved inevitably brings back memories of the regulatory crackdown on internet platform companies" from more than five years ago, said Neo Wang, chief China strategist at Evercore. Over a two-year span starting in late 2020, Beijing launched a sweepin...