Oil price continues to rise amid Middle East crisis but stock markets rebound across Asia

Reports of attack on US registered tanker in Gulf lifts crude by 3% to $84 a barrel as gas price also starts to climb

Stock markets have rebounded in Asia after days of heavy losses driven by the war in the Middle East, but oil and gas prices have continued to climb amid disruption to supplies.

South Korea’s KOSPI, which posted its biggest ever fall on Tuesday of 12%, rose by almost 10% on Thursday, while Japan’s Nikkei climbed by 1.9%. MSCI’s Asia-Pacific index excluding Japan jumped by 2.7%.

Continue reading...

AI-resistant ‘halo’ stocks drive UK and EU markets to record highs

Investors shifting to ‘heavy-asset, low-obsolescence’ companies insulated from disruption, says Goldman Sachs

Investors have a new mantra as they prepare for AI to shake up the global economy – the Halo trade.

Interest in Halo – short for “heavy assets, low obsolescence” - has risen as investors seek out companies with tangible, productive assets, which might be insulated from AI disruption, such as energy and transport infrastructure companies.

Continue reading...

Global stock markets fall sharply over AI bubble fears

Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead

Global stock markets have fallen sharply amid concerns that a boom in valuations of artificial intelligence (AI) companies could be rapidly cooling.

Markets in the US, Asia and Europe have fallen after bank bosses warned a serious stock market correction could lie ahead, after a run of record stock market highs led some companies to appear overvalued.

Continue reading...

Meta reports mixed financial results amid spree of AI hiring and spending

Tech company brings in record quarterly revenue but major tax bill dampens earnings per share

Meta reported mixed financial results for the third quarter of 2025. The company brought in record quarterly revenue but reported a major tax bill that dampened earnings per share, the company announced on Wednesday. The financial results come as Meta ends a multibillion-dollar hiring spree focused on artificial intelligence talent.

The tech giant earned $51.24bn in quarterly revenue, beating Wall Street expectations and the company’s own projections for third-quarter sales. However, it reported earnings per share (EPS) of $1.05, far below Wall Street expectations of $6.70 in EPS. The major drop was due to a one-time non-cash income tax charge of $15.93bn. The EPS would have been $7.25 without this one-time charge, the company said.

Continue reading...

Bank shares lead global market fall amid jitters over US private credit

Signs of credit stress send markets in Europe and Asia down, while investors turn to safe haven assets

European stock markets fell on Friday and gold hit a record high after two US regional banks said they had been exposed to millions of dollars of bad loans and alleged fraud.

Signs of credit stress rattled markets across Europe and Asia. In London the FTSE 100 fell 0.9%, Germany’s Dax fell 1.8%, Italy’s FTSE Mib fell 1.5%, the Ibex in Spain was off 0.3% and France’s Cac 40 dropped 0.2%.

Continue reading...

France is in crisis but bond markets leave other governments at risk of meltdown too

Investors rattled by resignation of French PM but country is not alone in trying to grapple with political maths

Sébastien Lecornu’s abrupt resignation as the French prime minister on Monday after less than a month in the role marked the latest clash between France’s stretched public finances and its polarised politics.

Lecornu was the latest prime minister to try and fail to cobble together a package of spending cuts and tax rises that would pass muster in a parliament without a clear majority, and contain mounting bond market pressures.

Continue reading...

UK bank shares tumble after call for windfall tax on lenders in budget

Investor jitters follow report by IPPR, with stock market value of sector cut by almost £8bn in morning trading

UK bank shares tumbled on Friday, cutting the stock market value of the sector by almost £8bn in morning trading, as fresh calls for a windfall tax on large lenders in the autumn budget spooked investors.

Calls for a tax grab, in a paper written by the Institute for Public Policy Research (IPPR) thinktank, took a toll on some of the UK’s biggest high street banks. NatWest Group suffered the biggest drop on Friday morning, registering a decline of as much as 5% in its share price, while Lloyds Banking Group and Barclays followed close behind, falling 4.5% and 3.6% respectively. HSBC dropped more than 1%.

Continue reading...

Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – business live

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.

A Bank of England interest rate cut next month is looking more likely, according to the latest city pricing.

The money markets are indicating there’s now an 85% chance that the Bank cuts interest rates at its next meeting on 7 August, up from 76% at the end of last week.

Friday’s disappointing GDP figures, combined with these weak jobs figures boost the case for the Bank of England to cut interest rates in August. The central bank’s governor Andrew Bailey told The Times ‘slack’ was opening up in the labour market, and he believes ‘the path is downward’ for interest rates.

All eyes are on Wednesday’s inflation report with CPI expected to remain at remain around 3.4% in June, roughly unchanged for the third consecutive month.”

Continue reading...

UK economic growth confirmed at 0.7% in first quarter; Lincolnshire oil refinery calls in administrators – business live

UK-US trade deal kicks in today, lowering tariffs for British carmakers and aerospace sector

UK households hit by squeeze on living standards despite fastest growth in G7

Karim Haji, global and UK head of financial services at KPMG, said:

May’s uptick in mortgage approvals bucks the downward trend we’ve seen throughout the year so far. The gradual easing of interest rates could be helping to boost confidence and demand amongst mortgage borrowers.

The cost of living remains high, but a drop in consumer borrowing in May signals that rising incomes are starting to feed through to the cost of day-to-day expenses.

It is incredibly positive news to see an increased number of mortgage applications approved. It is one of the loudest signals of them all regarding consumer affordability, and it is also a massive vote of confidence from lenders in the longer-term prospects of the economy too.

As we head into the summer months, we have witnessed on average the number of viewings per property available see an uplift of around 30% compared to the month previous. On top of this, we have also seen the UK Government make a pledge to create a National Housing Bank which could bring significant investment to help build 500,000 new homes, enabling a potential greater degree of flexibility for those who aspire to buy.

Continue reading...

Iran-Israel ceasefire boosts markets risk appetite; UK inflation may ‘plateau’, warns Bank of England’s Greene – business live

Oil has fallen to its lowest level since June’s conflict began, while stock markets have jumped across Asia and Europe

Travel and leisure stocks across Europe are rallying too.

This has pushed up the STOXX Europe travel and leisure index by 4.1% in early trading, which Reuters reports it the biggest one-day jump since 10 April.

Continue reading...

Goldman Sachs warns Brent crude could rise over $100 per barrel if Strait of Hormuz is disrupted – business live

Rolling coverage of the latest economic and financial news

The eurozone economy has continued to flirt with stagnation this month, with little growth in its key sectors.

The latest survey of purchasing managers across the euro area, just released by S&P Global, shows that the eurozone services sector is stalling this month, while factory growth slowed.

“The eurozone economy is struggling to gain momentum. For six months now, growth has been minimal, with activity in the service sector stagnating and manufacturing output rising only moderately.

In Germany, there are signs of a cautious improvement in the situation, but France continues to drag its feet. The momentum evident in the official growth figure of 0.6 percent for the first quarter is unlikely to have carried over into the second quarter, especially since special factors such as Ireland’s unusual jump in growth inflated this figure.

Continue reading...

Markets stabilise as investors fear ‘adverse shock’ from higher oil prices – business live

Rolling coverage of the latest economic and financial news

Over at the Paris Air Show, a row has broken out after four Israeli company stands at the trade fair were shut down.

According to Reuters, French authorities ordered that the four stands should be closed for “displaying offensive weapons”, after not complying with an order from a French security agency to remove offensive or kinetic weapons from the stands.

“This outrageous and unprecedented decision reeks of policy-driven and commercial considerations.

“The French are hiding behind supposedly political considerations to exclude Israeli offensive weapons from an international exhibition - weapons that compete with French industries.”

Continue reading...

Shein turns to Hong Kong for flotation as London attempt stalls, reports say

Fast-fashion retailer struggling to gain go-ahead from Chinese regulators for UK listing

Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London.

The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters.

Continue reading...

Any trade deal with US must be based on ‘respect not threats’, says EU commissioner

Maroš Šefčovič’s remarks come after pace of talks prompted Trump to propose 50% tariff on goods from bloc

The European Union’s trade chief has struck a defiant tone after Donald Trump threatened to place a 50% tariff on all goods from the bloc, saying any potential trade deal between Brussels and Washington must be based on “respect not threats”.

The US president made his announcement after voicing frustration with the pace of progress on a trade agreement with the EU. The new rates would come into effect from 1 June.

Continue reading...

Reeves eyes Gulf trade pact as ‘next deal,’ Bank of England’s Pill says pace of interest rate cuts ‘too rapid’ – as it happened

China and Australia cut interest rates; Shell faces protests calling for clean-up in Niger Delta

Here’s our full story on Greggs.

Sales at Greggs have picked up after the UK’s biggest bakery chain branched out into iced drinks, pizza boxes and a macaroni cheese that has gone viral on social media.

These are important issues and we respect the right of people to express their view. But for many years the vast majority of spills in the Niger Delta have been caused by third parties acting unlawfully, such as oil thieves who drill holes in pipelines, or saboteurs.

These challenges are managed by a joint venture which Shell’s former Nigerian subsidiary, SPDC, operated, cleaning up every spill from the joint venture’s facilities.

Continue reading...

China’s service sector hit by trade war; Ford predicts $1.5bn profit hit from Trump tariffs – business live

Rolling coverage of the latest economic and financial news


The takeover of UK food-delivery platform Deliveroo by US rival DoorDash has been agreed.

The two sides have reached agreement on DoorDash’s offer of 180p in case for each Deliveroo share, made last month.

Like DoorDash, Deliveroo is obsessively focused on their customers - consumers, merchants, and riders. They work day in and day out to improve their consumer value proposition, bring new services to local businesses, and offer flexibility and support to riders.

These efforts and attention to detail from Will and the team have had a tremendous positive impact in the communities where Deliveroo operates.

Continue reading...

US media stocks slide on Wall Street after Trump threatens movie tariffs

Netflix, Amazon, Warner Bros Discovery and Paramount shares fall as studios reel from announcement

Shares in US streamers and production companies fell on Monday, after Donald Trump said he would introduce 100% tariffs on films made abroad, a move that couldsharply raise costs for Hollywood studios.

Trump’s announcement on his Truth Social platform, revived worries about the US president’s trade policy and its impact on the world economy.

Continue reading...

Green groups decry plan to list world’s biggest meatpacking company on NYSE

Critics fear decision to list Brazil-based firm JBS, long linked to Amazon’s deforestation, will add to the climate crisis

Environmental groups are outraged that the world’s biggest meatpacking company, JBS, which has long been linked to Amazon’s deforestation, has received approval from US authorities to list on the New York Stock Exchange.

The decision, announced on Tuesday by the Securities Exchange Commission, follows reports that JBS subsidiary Pilgrim’s was the biggest donor to the inauguration committee of Donald Trump. Since taking power, Trump has reduced the independence of the SEC and other agencies, demanding their work be “controlled” by the president.

Continue reading...

Gold climbs above $3,500 for first time as Wall Street rallies after slide

Dollar also recovers after Monday’s sell-off prompted by Donald Trump’s attack on Federal Reserve chair

Gold has climbed above $3,500 an ounce for the first time while stocks on Wall Street and the dollar rose following Monday’s sell-off prompted by Donald Trump’s blistering attack on the Federal Reserve chair, Jerome Powell.

Spot gold reached the record price of $3,500.01 (£2,620) on Tuesday, extending a rally that has pushed bullion up from $2,623 an ounce at the start of this year.

Continue reading...

US stock markets fall again as Trump calls Fed chair ‘a major loser’

President amps up attacks against Jerome Powell, pushing him to lower interest rates to offset impact of tariffs

US stock markets fell again on Monday as Donald Trump continued attacks against the Federal Reserve chair, Jerome Powell, who the US president called “a major loser” for not lowering interest rates.

“There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump wrote on social media.

Continue reading...