Ban

• Antique has maintained a 'Buy' rating for ICICI Bank, setting a target price of Rs 1,622 for 2026. • The target price represents a potential upside of 17% compared to the current trading price of Rs 1,387.70. • This valuation is driven by two near-term triggers expected to catalyze an earnings rerating for the bank.

• The US Federal Reserve announced on June 24 that 32 of the nation's largest banks are well-positioned to continue lending despite a severe hypothetical economic downturn. • The annual "stress test" revealed that while banks' capital levels dropped by 1.6 percentage points, they remained above the minimum regulatory requirements. • These results indicate that the banking sector could absorb over US$700 billion in hypothetical losses without failing.

• The EU has sparked outrage among Afghan women by initiating talks with the Taliban, signaling a shift in how the bloc balances security concerns against human rights. • This diplomatic engagement occurs amidst a broader climate of rising anti-immigration rhetoric across Europe. • Separately, France's health ministry confirmed the country's first case of Ebola in a doctor who recently returned from a humanitarian mission in the Democratic Republic of the Congo.

• Afghanistan is facing a dire economic crisis nearly five years after the Taliban returned to power. • The collapse is driven by a combination of deep-rooted domestic structural failures and persistent regional geopolitical constraints. • This instability highlights the Taliban's inability to establish a functioning financial system or secure broad international legitimacy.

• BDO Unibank, the largest bank in the Philippines, has ruled out using artificial intelligence to implement job cuts. • CEO Teresita ASEAN-based BDO Unibank stated that AI is intended to augment human capabilities, claiming the technology "makes average performers exceptional." • This stance highlights a strategic shift toward AI-driven productivity and workforce empowerment rather than labor replacement within the financial sector.

• All 32 of the largest U.S. banks passed the Federal Reserve's 2026 annual stress tests, demonstrating sufficient capital to withstand a severe global recession. • Under the severe scenario, the banking sector faced projected losses exceeding $708 billion, yet capital ratios remained well above the required regulatory minimums. • These results are critical as they confirm the stability of the U.S. financial system and its ability to continue lending to households and businesses during economic downturns.

• The European Central Bank (ECB) has warned that the EU's shift toward interventionist industrial policies and increased state aid is creating significant economic trade-offs. • According to a pre-release of its Economic Bulletin, state aid expenditure has risen sharply due to global economic shocks and a resurgence of government intervention. • The ECB highlights a growing disparity in subsidy distribution, as member states with higher fiscal capacity can provide more support than smaller or poorer nations.

• JPMorgan Chase has launched a $50 billion share buyback program, signaling strong confidence in its financial position. • The move follows Federal Reserve stress tests, which confirmed that major U.S. banks maintain strong capitalization and stable capital requirements. • This initiative is part of a broader trend among top U.S. financial institutions to increase shareholder payouts following the regulatory approvals.

Exclusive: Trade union backs energy secretary to replace Rachel Reeves, but two other big unions are opposedUK politics live – latest updatesBritain’s biggest trade union has endorsed Ed Miliband for chancellor, as the race to take over the Treasury under a potential Andy Burnham government intensifies.Unison has become the most high-profile organisation to back the current energy secretary, who is one of two frontrunners to replace Rachel Reeves in No 11, but who is being opposed by two other major unions – GMB and Unite. Continue reading...

• The death of former Federal Reserve Chairman Alan Greenspan has reignited critical debates regarding interest rates, deregulation, and overall financial stability. • This shift in focus is prompting investors to re-evaluate the Federal Reserve's role in credit growth, labor power, and risk-taking within the financial sector. • The renewed scrutiny directly impacts US bank and insurance stocks, as different business models and balance sheets may now appear more appealing or exposed.

• All 32 of the largest U.S. banks passed the Federal Reserve's annual "stress test" announced on Wednesday. • The simulation evaluated whether these financial institutions could withstand a severe economic contraction while continuing to lend to households and businesses. • These results indicate that the nation's banking system remains robust and healthy despite potential economic volatility.

• International pressure is intensifying as the UN and foreign governments warn of an expanding conflict and deteriorating humanitarian conditions in Sudan. • Particular concern is mounting over the city of El Obeid, the capital of North Kordofan, where fears of escalation are rising. • This escalation threatens to further destabilize the region and exacerbate an already severe humanitarian crisis for the civilian population.

• A drone strike in the Sudanese city of El Obeid hit an empty fuel tanker parked near a school on Tuesday, resulting in injuries to students. • The United Nations reported on Wednesday that ongoing fighting in the city continues to endanger civilians and cause significant damage to local infrastructure. • This incident highlights the escalating risks to non-combatants and educational facilities amidst the broader Sudanese conflict.

• South Africa secured a historic 1-0 victory over South Korea on Day 14 of the 2026 FIFA World Cup, impacting the standings for several other nations. • Brazil, Morocco, and Bosnia have officially advanced to the knockout stages, joining a list of qualified teams that includes the USA, Germany, France, Argentina, and Colombia. • In other match action, Switzerland managed to hold on for a result against Canada, while a Qatar player received a five-game ban.

Pupils say LPS Hybrid’s combination of remote and in-person classes has transformed their school experienceTwo years ago, Ellie Ball could barely bring herself to attend school. Today, the 16-year-old is planning to take four A-levels and hopes to study astrolaw – “It’s basically space law,” she explains – at university.The transformation happened largely through a screen. Continue reading...

In today’s newsletter: Amid rising anti‑immigration rhetoric across Europe, the decision to engage with the Taliban signals a profound shift in how the EU balances security and human rightsGood morning. It’s a slap in the face. That’s the phrase I kept hearing – in furious overnight messages, in blazing opinion columns – as Afghan women responded to the meeting between EU officials and the Taliban that took place in Brussels on Tuesday.The talks, to discuss how to scale up the deportation of Afghan migrants, were met with widespread outrage, and disbelief that Europe would countenance offering legitimacy to a regime that affords a bird better protections than a woman.World news | Venezuela’s interim leader has declared a state of emergency after the country was struck by two powerful earthquakes that collapsed dozens of buildings and killed at least 32 people, with experts warning the death toll could rise significantly.Heatwave | The UK has broken its all-time temperature record for June and France has recorded its hottest day ever for the second day running, as a heatwave affecting more than 90 million people sweeps across swathes of Europe.UK politics | Donald Trump has labelled Andy Burnham “extremely liberal”, in his first public comments about the former Greater Manchester mayor since he emerged as the frontrunner to replace Keir Starmer.Europe news | The first case of Ebola has been confirmed in France, the country’s health ministry has said, in a doctor who had returned from a humanitarian mission to an area affected by the outbreak in the DRC.UK news | A little-known system in which US military personnel are tried through a court martial for alleged crimes committed in the UK is under growing scrutiny. Continue reading...

World’s sixth-most famous duck falls short of dreamTwo-year-old must watch Czechia game from distanceMerlín the duck’s bid to see his beloved Mexico live has hit a snag after he was barred from El Tri’s match with Czechia on Wednesday.Merlín has become a folk hero in Mexico after becoming a symbol of El Tri’s World Cup campaign on home soil. His fans had launched a campaign for Merlín to attend Wednesday’s match alongside his human family. But his journey was cut short by Fifa regulations. Continue reading...

Home affairs minister Tony Burke says return permit ‘has to be issued’ following advice from agencies and lawyersFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAn Australian woman linked to the Islamic State group has been given authorisation to return to Australia, after the government was advised it could no longer enforce a criminal exclusion order.The home affairs minister, Tony Burke, said the woman would face an unprecedented level of security monitoring once she arrives in the country, including constant monitoring and requirements to report to authorities regularly. Continue reading...

Experts say law not enough to stop children accessing harmful content online and more ‘convincing strategy is required’More than 80% of under-16s in Australia said they were still using social media three months after legislation banning them from it came into force, research shows.Australia is the first country to ban social media for children. Since December 2025, under-16s have been prohibited from having accounts with many social media platforms including TikTok, X, Facebook, Instagram, YouTube and Snapchat. Continue reading...

Refugee charities fear controversial changes, including on forced removals and age checks, are being rushed throughShabana Mahmood’s controversial plans to increase the forced removal of people refused asylum, introduce stringent age checks for people claiming to be children and limit applications under human rights laws are scheduled to be placed before MPs within days.The immigration and asylum bill is expected to be put before parliament next Tuesday and will face opposition from some Labour, Lib Dem and independent MPs. Andy Burnham’s team, widely expected to be in No 10 within weeks, is understood to be aware of the bill and its contents. Continue reading...

Husband arrested after Sylvie Yasmina, 54, and five children found at home in north-western provincePakistan police say they have rescued a French woman and her five children after she told authorities she had been held captive by her husband for more than a decade and subjected to years of domestic abuse in the country’s north-west.The woman, identified as 54-year-old Sylvie Yasmina, was rescued earlier this week from a mud-brick home in Bara, a town in Khyber Pakhtunkhwa province near the Afghan border, the district police chief, Waqar Ahmad, said. Continue reading...

Defence minister says troops are not withdrawing even though Tehran sees end to conflict in Lebanon as part of any deal with USThe Israeli defence minister, Israel Katz, has said that Israeli troops would not withdraw from southern Lebanon, further complicating Iran peace talks as fighting in Lebanon continues to be an obstacle to permanent peace.Speaking on stage in an interview in Tel Aviv, Katz said that Israeli troops would remain in south Lebanon – echoing sentiments from the Israeli prime minister, Benjamin Netanyahu. Continue reading...

Policy at Heidesee lake in Halle introduced after cases in which visitors ignored rules and lifeguards’ instructionsAn open air swimming lake in the eastern German city of Halle which has refused entry to bathers who don’t speak German has been told it must lift the ban or face possible legal action.The Heidesee lake, a natural lake in a flooded former open-cast mine, recently introduced a check at the entrance to filter out visitors whose German was deemed not good enough to follow safety instructions. Continue reading...

Camp owners said total debt exceeds $10m in chapter 11 filing after catastrophic flood last JulyCamp Mystic, the Christian summer camp in Texas where 28 people died in a catastrophic flood last July, has filed for bankruptcy, according to court records.In a Chapter 11 filing, submitted Wednesday in the southern district of Texas, the camp’s owners said that the camp’s total debt “exceeds $10m”. Continue reading...

Harriman, accused by Telegraph of sharing conspiracy after Golders Green attack, says he had decided ‘way before this madness’ to stand downMisan Harriman will not seek another term as chair of the Southbank Centre and is to step down in autumn after a month of intense pressure caused by accusations he shared a conspiracy about the Golders Green attack.Harriman, who has held the position since 2021, confirmed in a social media post that he would not continue as chair beyond autumn. Continue reading...

Sharon Graham is urged to withdraw her claim that the energy secretary would cost jobs if he became chancellorMore than 40 progressive economists have written to Sharon Graham, the leader of Unite, rejecting her claim that Ed Miliband would destroy jobs if he becomes the next chancellor.With Andy Burnham almost certain to be prime minister within weeks, there is a fierce debate within Labour about who should succeed Rachel Reeves at the Treasury, with Miliband considered a frontrunner. Continue reading...

UK regulator has increased its scrutiny of fashion retailers over potentially misleading environmental statementsAds for Calvin Klein, Adidas and Uniqlo promoting “recycled” clothing and shoes have been banned by the UK watchdog after the advertisers were unable to prove their green claims.Each of the fashion companies ran paid-for Google ads, with Adidas promoting “recycled running shoes”, Calvin Klein “recycled” tops for women, and Uniqlo advertised fleece coats and jackets made from “recycled materials”. Continue reading...

Kemi Badenoch, who joined US anti-abortion activists and European far-right parties at ARC, described energy secretary as a ‘villain’Britain’s net zero policies and energy secretary Ed Miliband have come under fire at a conference of conservatives, rightwing populists and wealthy US backers linked to Donald Trump.The energy policies pursued by the British government were described as a “tragic mistake” by Trump’s energy secretary, one of a number of officials from the US administration who are attending the event. Continue reading...