Oil prices rose by more than $1 after Iran said the Strait of Hormuz was closed following additional U.S. strikes on Iranian cities. The move raised concerns over Middle East supply flows, while the U.S. Energy Information Administration said lower 2026 demand could limit the impact of disruption on prices.
The United States launched a second round of airstrikes on Iran early Thursday after Trump said additional attacks could follow if Tehran does not accept a deal. Iran responded with strikes toward Bahrain, Kuwait and Jordan, while negotiations remained unresolved and oil prices rose amid Strait of Hormuz tensions.
Britain’s Competition and Markets Authority has opened an investigation into whether Ryanair’s mandatory family seat charge, usually about GBP8 each way, may breach consumer law. The review covers whether the fee effectively charges parents for seating linked to child-safety and disability obligations and how the charge is presented during booking.
Ethiopia approved a draft federal budget of 2.34 trillion birr for the next fiscal year, about 21% higher than the previous year, with spending directed to regular and capital outlays and transfers to regional governments. Authorities expect a budget deficit of 1.4% of GDP, while debt restructuring talks, including with Eurobond holders, continue.
French President Emmanuel Macron is set to chair a Thursday video conference on global economic imbalances involving G7 members, China and the International Monetary Fund. Other countries invited to the G7 summit, including Brazil, South Korea, India, Kenya and Egypt, are also expected to take part.
The World Bank said Cambodia’s economy remained resilient, with foreign direct investment reaching $5.1 billion, or 10.1% of GDP, in 2025, up 15% from a year earlier. Goods exports excluding gold increased 17.7% year on year in the first quarter of 2026, according to its June update.
Brazil’s Senate Constitution and Justice Committee approved a proposal expanding the central bank’s financial and administrative autonomy, including exclusive authority over Pix regulation and limits on transferring the payments system to another entity. Trade groups for banks, fintechs and payment companies publicly supported stronger central bank supervisory authority.
The U.S. military said it carried out strikes on Iranian air defense, ground-control and surveillance radar sites near the Strait of Hormuz after a U.S. Army Apache went down off Oman. Two crew members were rescued and were in stable condition. Iranian media reported explosions in Qeshm, Sirik, Bandar Abbas and near Jask.
Iran said U.S. strikes hit two water reservoirs in the Sirik area of southern Iran, disrupting drinking water supplies for about 20,000 residents, including villages in the Bamani district. Local authorities were assessing damage to the water infrastructure, according to reports citing Iranian officials and state media.
U.S. average retail prices for 100% ground beef reached $6.899 per pound in May, according to BLS data. USDA said a new New World screwworm case was confirmed in a calf in La Salle County, Texas, bringing the reported total in the state to six, while cattle futures ended lower Monday.
The European Central Bank halted new product launches by Revolut’s European arm across the European Economic Area last summer, according to notifications made in July 2025. The bank also required an independent review and asked Revolut’s board to examine how future launches could affect capital, liquidity and internal approvals.
Ares Management said it raised $8.5 billion from institutional investors for its latest specialty credit fund, exceeding its $6.5 billion target and hitting the fund's hard cap less than six months after its January 2026 launch. The fundraising was disclosed amid slower flows from retail and wealthy clients and higher redemption requests.
The Bank of Canada left its overnight rate unchanged at 2.25%, saying weaker economic activity and higher inflation complicate policy decisions. Officials said inflation is expected to be near 3% in coming months, broad-based price pressures from energy remain limited, and growth is projected to resume in the second quarter while economic slack persists.
International Criminal Court chief prosecutor Karim Khan has been suspended after the court’s governing body referred him for disciplinary proceedings following an investigation into allegations of sexual harassment or misconduct involving an aide. Khan has denied wrongdoing. The Assembly of States Parties is set to hold a special session and vote on whether he can remain in office.
Germany and France have agreed to end their joint next-generation fighter program, which paired a core aircraft with drones and a classified combat-cloud network after months of uncertainty. Berlin and Paris are now focusing on a combat cloud linking aircraft, drones and sensors and may pursue separate national designs, prompting Airbus to seek new partners.
People familiar with the matter said executives running Oatly Group AB’s China operations are considering buying the company’s Greater China business, with discussions aimed at completing a deal as soon as this year, though no agreement is assured. Oatly has said it is evaluating options for the China business, including a potential separation. Greater China revenue fell 2.1% year over year to $29.3 million last quarter, driven by weaker foodservice sales.
South Korea’s Kospi rose 8.2% to 8,096.93, reversing most of the prior session’s losses. The benchmark had fallen 8.3% to 7,484.41 in its largest one-day drop since March 4. The rebound was led by memory-chip shares, including major domestic semiconductor companies, after a tech selloff tied to AI-related trading.
UBS Group AG has reduced its Asia sustainability office from seven employees to three in recent months as part of a broader restructuring. The bank has cut its global sustainability workforce by nearly 65% and has almost fully removed its dedicated ESG data team, while shifting sustainability responsibilities into business divisions.
The Reserve Bank of India introduced a US dollar-rupee forex swap facility on June 8, letting eligible banks swap dollars at the FBIL reference rate and reverse at 1.5% per year, up to five years. It applies to PSU external commercial borrowings, banks’ overseas foreign currency borrowings, and certain FCNR-B deposits raised within specified windows.
South Korean authorities said they are preparing inspections targeting foreign-exchange transactions they view as disruptive, including activity in non-deliverable forwards that officials say has recently added to won volatility. The government plans to start with document-based checks and escalate to on-site inspections if irregularities are identified, with enforcement actions to follow.
Anthropic said it has completed a $35 billion private credit financing led by Apollo Global Management and Blackstone. The company described the transaction as among the largest private credit deals. The debt package is structured in three tranches, including a $6 billion Senior A1 tranche and a $24 billion A2 tranche.
Bank Indonesia raised its benchmark BI Rate by 25 basis points to 5.50% at an off-cycle meeting, citing a larger-than-expected rupiah decline since the last policy decision. The central bank said the move aimed to stabilize the exchange rate amid global volatility, attract foreign capital inflows, and help keep inflation within its target range.
OpenAI said it has confidentially filed a draft S-1 registration statement with the U.S. SEC for a potential initial public offering. The company did not disclose deal size or terms and said it has not set a timetable. It said the filing preserves flexibility while it remains focused on building AI products.
Chinese President Xi Jinping arrived in North Korea for a rare visit to Pyongyang and met leader Kim Jong Un. Official readouts said both leaders reaffirmed plans to deepen cooperation and strengthen strategic ties, including safeguarding shared interests and sovereignty and security. The statements did not reference North Korea’s nuclear program.