The Global Economic News

China's economy is showing signs of picking up, thanks in part to a rebound in shipments to the U.S. "Manufacturing saw the clearest improvement. Retail sales recovered nicely," according to the China Beige Book, an independent survey of Chinese businesses, on Monday. The survey, covering 1,321 businesses from June 1 to 22, pointed to a surge in luxury goods sales, but weaker tourism-related spending. "The second quarter is ending on a more positive note than it began, but this performance will need to repeat itself in July and August for there to be legitimate cause for celebration," the report said. The world's second-largest economy lost steam in April and May after a strong first quarter . In May, China's retail sales fell for the first time since the pandemic, official figures showed, while data from the 618 shopping festival, which ran from mid-May through mid-June, showed a sharp slowdown in sales growth. Investment in manufacturing , dragged dow...

Oil prices have fallen back sharply to near pre-war levels over recent weeks in response to a fragile truce between the U.S. and Iran, and diplomatic efforts to bring the conflict to a lasting conclusion. However, commodity strategists warned Monday that prices could reflect an overly optimistic stance from markets, which are underestimating the scale of persistent supply-side challenges. Analysts argue that shipping traffic through the Strait of Hormuz is unlikely to swiftly return to pre-war levels, even after a pickup in activity following the U.S.-Iran ceasefire agreement, as Tehran seeks to exert leverage over the critical chokepoint. Nikos Petrakakos, managing director of investments at Tufton Investment Management, said many shipping companies remain wary of sending vessels back through the key energy chokepoint, citing uncertainty over the peace framework, lingering concerns over sea mines and elevated war-risk insurance premiums. "Even though there is some more motion go...

BlackRock IBIT investors are now nursing a 40% loss BlackRock IBIT investors are now nursing a 40% loss TheStreet Getty Images Pooja Rajkumari Sun, June 28, 2026 at 2:33 AM PDT 2 min read BLK IBIT BTC-USD 2024 was a massive turning point for crypto. After years of regulatory back and forth, a few of the biggest asset managers in the world were allowed to offer spot Bitcoin (BTC) exchange-traded funds (ETFs). Among them was BlackRock (NYSE: BLK), the world's largest asset management company. The launch of its iShares Bitcoin Trust ETF, or IBIT, came as a green signal for traditional investors who wanted to explore cryptocurrencies but did not know how or where. A Bitcoin ETF allows people to bet on Bitcoin's price without buying or storing the cryptocurrency themselves. As recently as mid-2025, the average IBIT holder was up roughly 30%, per Bespoke data cited by Bloomberg . But after the flash crash o f October 2025, Bitcoin's slide has flipped that gain into a steep loss....

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Stocks making the biggest moves midday: MU, CMCSA, RKLB, GOOGL, VZ Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves midday: Chipmakers Semiconductors were volatile Monday as investors rotated money between the sector and the rest of the market. The VanEck Semiconductor ETF (SMH) was last up 2.5% after falling as much as 3.1%. Nvidia traded 0.6%, recovering from a 1.4% slide. Micron pared earlier losses, trading 2% lower. TopBuild The insulation and building materials maker dropped 12% to start the week, putting it on pace for its worst day since March 2020. The move comes as investors brace for TopBuild to be acquired by QXO. The deal was announced in April . Comcast Shares rose 6% after the company announced it would spin off its media portfolio of NBCUniversal and Sky. The spin-off is expected to be completed in about one year, and will see Comcast co-CEO Mike Cavanagh steppin...

Image source, AFP via Getty Images By Faisal Islam Economics editor Published 12 minutes ago "True to the motto of this city, I am going to do things differently," Andy Burnham declared, a reference to the film 24 Hour Party People. His speech in Manchester did indeed show a rather different way of seeing and running the UK. The departing Greater Manchester mayor presented a diagnosis of what has caused economic malaise, rooted in his own experiences running the city and when he was previously in Cabinet. At its heart it is a critique of an unresponsive British state, adept at arguing with itself, rather than achieving real change and rebuilding the country. His solutions were ambitious, and mostly rather general, taking power from the centre and giving it to regions and cities, as occurs routinely in other advanced countries. Burnham tells a story of his time as chief secretary to the Treasury, two decades ago, wishing to build a northern equivalent to London's Crossrai...

Stocks making the biggest moves premarket: CMCSA, SPCX, CHTR Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Comcast Shares surged 20% after the company announced it would spin off its media portfolio of NBCUniversal and Sky. The spin-off is expected to be completed in about one year, and will see Comcast co-CEO Mike Cavanagh stepping into the role of leader at NBCUniversal, while former Comcast CFO Michael Angelakis will become chief of the telecommunications company. Rocket Lab , Iridium Communications The two companies' stocks jumped after Rocket Lab announced it would acquire Iridium. Rocket Lab said the merger will combine the company's launch capabilities with Iridium's satellite communications network. Rocket Lab jumped more than 10% while Iridium surged more than 20%. SpaceX The stock rose 2% after Nasdaq announced on Friday that SpaceX would be...

The U.S. and Iran are poised to hold fresh talks on Tuesday in Qatar's capital, President Donald Trump said via social media on Monday, following a weekend of hostilities in the Middle East. "IRAN HAS REQUESTED A MEETING. IT WILL TAKE PLACE TOMORROW IN DOHA!," Trump said in a post on Truth Social. There was no immediate reaction from Iran. CNBC has contacted Iran's Ministry of Foreign Affairs and is awaiting a response. Trump's post comes after the U.S. and Iran exchanged a series of strikes over the weekend that threatened to derail negotiations aimed at ending the conflict. White House Press Secretary Karoline Leavitt told Fox News on Monday that special envoys Steve Witkoff and Jared Kushner would travel for the meeting. "As far as we're concerned, we're holding up our end of the ceasefire. Violence will be met with violence," she added. "The United States of America has the best and strongest military in the world. The president retains...

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Comcast said Monday it plans to separate its media and technology businesses into two publicly traded companies as it looks to better compete in a media landscape increasingly characterized by pressure from streaming rivals and consolidation. The separation, which will happen via a tax-free spinoff of NBCUniversal and Sky, is expected to be completed in about one year, and Comcast shareholders will own shares in both Comcast and NBCUniversal, the company said in a statement. Comcast shares jumped as much as 26% in premarket trading, before paring some gains to trade about 23% higher. Comcast co-CEO Mike Cavanagh will become CEO of NBCUniversal, while Comcast's former Chief Financial Officer Michael Angelakis will become CEO of Comcast. Comcast's other co-CEO and chair, Brian L. Roberts, will continue to be actively involved in the leadership of both Comcast and NBCUniversal. The media arm will incorporate the theme parks division, Universal film and television studios, NBC an...

AMD (AMD) Commits 2 Billion to the UK and Helps Build Two AI Supercomputers at Cambridge Abdul Rahman Mon, June 29, 2026 at 3:22 AM PDT 2 min read AMD DELL Advanced Micro Devices, Inc. (NASDAQ: AMD ) is one of the best fast growth stocks to buy according to hedge funds . On June 8, Advanced Micro Devices, Inc.'s (NASDAQ:AMD) Chair and CEO, Dr. Lisa Su, announced the company's commitment to invest up to 2 billion over the next five years in the United Kingdom. Dr. Su made the announcement on the first day of London Tech Week, which took place from June 8 to June 12. AMD (AMD) Commits 2 Billion to the UK and Helps Build Two AI Supercomputers at Cambridge The investment will be made in chunks where there will be a package for infrastructure deployments, research collaborations, and ecosystem partnerships. All these investments, said Dr. Su, will be centered on AMD's Instinct GPUs, EPYC CPUs, and ROCm open software. These are the three pillars of AMD's AI compute stack. Th...

Are you richer than you think? 5 clear signs you’re doing better than the average American in 2026 Vishesh Raisinghani Mon, June 29, 2026 at 2:30 AM PDT 7 min read drazenphoto/Envato The vast majority of Americans are experiencing some level of financial stress or uncertainty these days. That's according to a recent Gallup survey (1), which found that while financial fulfillment is possible, most Americans are still struggling to get there. But between stubborn inflation, war overseas and never-ending talk of a recession, it's not surprising so many Americans just feel financially unstable. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 here are 5 ways to build wealth like a landlord without actually being one 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. Here's where their money is actuall...

Progressive’s Mandatory ELD Switch? Some Small Trucking Fleets May Be Required to Switch ELD Providers. (Photo: Jim Allen/FreightWaves) Sage Sullyblues Sat, June 27, 2026 at 3:07 PM PDT 7 min read For years, commercial trucking insurers have encouraged fleets to participate in telematics programs by offering premium discounts in exchange for access to electronic driving data. Programs that once focused primarily on rewarding safe driving have gradually become an increasingly important part of commercial underwriting. Progressive Commercial's Smart Haul program has been one of those initiatives, allowing eligible motor carriers to share telematics data with the insurer in exchange for potential premium savings. However, documentation reviewed by us and confirmed by Progressive indicates that, for some trucking applicants, participation in Smart Haul is no longer simply an opportunity to earn a discount. Instead, it has become part of the underwriting process itself. The issue first...

Russian President Vladimir Putin has conceded that the country is facing fuel shortages following a barrage of long-range Ukrainian drone strikes on key energy infrastructure, although he insisted the Kremlin was dealing with them. The Russian president's comments during an interview with a state TV reporter on Sunday mark the first time he has detailed the extent to which Ukraine's deep-strike success has hampered Russia's fuel production. Putin said Russia would import more fuel and expedite repairs of oil facilities to end what he described as the "temporary deficit," according to The Associated Press . "All damaged facilities are being restored quite quickly, and the issues that arise are not critical," Putin said. He also pledged to bolster Russia's air defense capacity to tackle Ukraine's mid- to long-range drone capabilities. Ukraine has stepped up attacks on Russian oil facilities in recent weeks, seeking to cut off Moscow's energy r...

Image caption, Barry and Shelley Sawkins say the building work took "every penny" they had By Sarah Easedale BBC Wales Published 28 June 2026 Updated 1 hour ago A heartbroken couple lost more than 30,000 to a rogue builder who left their new extension unfinished, with water pouring into their home. Alarms bells had been raised earlier when Shelley Sawkins, 75, called the tradesman, and realised he was in Lanzarote spending money she had given him. The builder, Christian Williams, 54, is currently serving a two-year prison sentence after admitting theft and three counts of fraud by false representation involving four families. In a Proceeds of Crime Act , external hearing earlier this month, Mold Crown Court heard he had benefitted to the tune of 163,051.70 from his offending, but his assets available to pay back amounted to just 1. Williams had been posting photos on Facebook of holidays and days out at the races, while one of his victims, a dad of three, had to finish his t...

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Every June, policymakers, regulators, bankers, investors, and financial executives gather in Shanghai for the Lujiazui Forum, China 's premier financial policy conference. If Davos is where global elites discuss the future of the world economy, Lujiazui is increasingly where Beijing signals how it intends to shape that future to serve its own interests. As Americans, despite all the ways that our current focus is divided, I believe that this year's forum deserves our attention. At this year's Lujiazui Forum , Chinese officials unveiled a series of measures designed to expand offshore renminbi (RMB) finance, deepen Shanghai's role as an international financial center, create new liquidity facilities for foreign central banks and sovereign investors, expand cross-border RMB trading, and further open portions of China's financial sector to international participation. It is true that we have heard much of this before and, for skeptics and many observers, it is und...