President Trump's economic agenda continues to influence markets, with new tariffs on semiconductors and proposals to cap credit card interest rates drawing concern from banks, while food prices keep climbing and housing affordability efforts face challenges.
Tensions surrounding Iran remain high with Trump issuing warnings and US personnel evacuating Qatar, as China records a massive trade surplus amidst ongoing trade disputes and Japan prepares for a snap election.
Luxury retailer Saks Global has filed for bankruptcy, while Soho House secured new funding for its take-private deal, and major companies like Disney and Coca-Cola are undergoing digital transformations alongside a significant Medicare overbilling settlement by Kaiser Permanente.
Concerns about AI causing mass unemployment are voiced in London, even as **OpenAI strikes a $10 billion infrastructure deal, and celebrities like Matthew McConaughey are trademarking their likeness** to combat potential AI misuse.
The UK has awarded significant wind farm contracts to power millions of homes, while OPEC forecasts steady oil demand growth and BP flags a substantial write-down in its low-carbon business, alongside warnings of Earth breaching 1.5C warming a decade early.
UK borrowing costs have fallen to their lowest in over a year, as Rachel Reeves signals an expansion of the pubs tax U-turn to other businesses, and the Home Secretary faces a loss of confidence in a police chief.