Economy

• A new NAMI/Ipsos poll reveals that individuals who utilize the 988 suicide and crisis lifeline are successfully receiving the help they need. • Despite these positive outcomes, the data highlights significant gaps in overall public awareness and persistent barriers that prevent people from contacting the service. • The findings underscore a critical need for improved outreach and accessibility to ensure mental health resources reach those in crisis.

Rise in GDP follows a 0.1% decline in April, figures from the Office for National Statistics showThe UK economy grew by 0.1% in May, despite the impact of the Iran war on energy costs, official figures show.The Office for National Statistics said GDP rose, following a 0.1% decline in April. The figures were in line with a 0.1% rise in May that economists had forecast. Continue reading...

• Quarterly earnings reports from the five largest U.S. banks have challenged recession fears by showing unexpected strength in key financial sectors. • Investment banking revenue grew as corporate executives increased spending on mergers, acquisitions, IPOs, and debt issuance, signaling confidence in capital investment. • Consumer banking remains stable with contained credit-loss provisions, suggesting that households are successfully managing loan and credit card payments despite high interest rates.

Worse-than-expected expansion of 4.3% in three months to June comes amid concerns over lopsided economyBusiness live – latest updatesChina has posted worse-than-expected growth figures for the three months to June, with the economy expanding just 4.3% – one of its lowest quarterly readings on record.The rate, which came in under the government’s target of 4.5-5%, was one of the weakest since reporting on official quarterly GDP figures began in the early 1990s. Continue reading...

• Federal Reserve Chair Kevin Warsh is testifying before the House Financial Services Committee on Tuesday morning regarding the current state of the U.S. economy. • The hearing serves as a critical briefing for lawmakers to assess economic stability and the Federal Reserve's current monetary policy direction. • This appearance is particularly significant as it coincides with the economic agenda and appointments overseen by President Trump.

• The UN human Rights Office (OHCHR) reports that Sudan's war economy is creating a "self-perpetuating" cycle of conflict, where the exploitation of resources fuels ongoing violence. • The OHCHR is calling on warring parties and international corporations involved in the Sudanese commodity value chain to strictly comply with international law. • This situation is critical as the financial incentives derived from illegal trade and resource control provide the means for combatants to sustain prolonged military operations.

• Singapore's manufacturing sector experienced a 12.2% year-on-year growth in the second quarter of 2026, accelerating from 8.0% in Q1. • This surge was primarily driven by strong AI-related demand for semiconductors and semiconductor manufacturing equipment. • The manufacturing boom significantly boosted the broader economy, leading to an overall growth rate of 5.7% for the period.

• Singapore's economy grew by 5.7% in the second quarter, surpassing the 5.5% growth forecast by analysts. • While the expansion beat expectations, it represents a slowdown compared to the revised 6.3% growth recorded in the first quarter. • This advance GDP data provides a critical economic indicator as the nation's central bank prepares for its quarterly monetary policy decision later this month.

• Investors and analysts are criticizing Federal Reserve Chairman Kevin Warsh for failing to provide clear guidance on how he would react to various economic challenges. • Warsh has intentionally obscured his policy framework to avoid signaling future interest rate movements, leaving policymakers and markets without a predictable roadmap. • This lack of transparency is seen as problematic because it prevents Wall Street from understanding the specific economic triggers that would prompt a shift in Fed strategy.

• UN Secretary-General António Guterres warned that escalating tensions between the US and Iran could severely threaten global peace, security, and economic stability. • Security experts caution that an expanded conflict could destabilize the broader Middle East, potentially displacing millions of civilians and triggering new humanitarian crises. • The situation is critical as instability in the region could create strategic opportunities for extremist groups to exploit the resulting chaos.

• Approximately 5% (one in 20) of car loans issued to young people are currently in serious delinquency. • This represents the highest delinquency rate for this demographic since the global financial crisis. • The trend highlights growing financial instability and debt burdens among young borrowers in the current economy.

• Global deal-making has surged to $3.2 trillion in the first six months of the year, marking the highest spending period in a decade. • The boom is primarily driven by the AI economy, with 44 massive deals exceeding $10 billion, including both corporate takeovers and private market fund-raising. • This trend highlights a significant concentration of wealth and power among large companies capable of financing high-cost AI infrastructure and acquisitions.

• The International Monetary Fund (IMF) warned on Wednesday that renewed geopolitical conflict in the Middle East would negatively impact global economic growth and increase inflation. • This warning follows an announcement by President Donald Trump that the U.S. ceasefire and peace process with Iran has officially ended. • The situation is critical because instability in the region often disrupts energy markets, potentially leading to higher oil prices and broader financial volatility.

• Foreign Direct Investment (FDI) in India has reached a five-year high, driven by strong capital inflows and resilient domestic demand despite global trade headwinds. • The services sector emerged as the primary growth engine with a 10% expansion, followed by industry growth of 7.3% and a more subdued 3.6% increase in agriculture. • This surge is significant as robust investment momentum and gross capital formation are currently offsetting global economic uncertainties and inflation.

• Thailand has secured $4.1 billion in electric vehicle (EV) supply chain investments, signaling a strategic pivot in its national automotive sector. • The country is currently competing with Vietnam, Malaysia, and Singapore to lead Southeast Asia’s rapidly expanding backpacking tourism circuit. • Bangkok has emerged as a global luxury travel hub, outperforming the U.S., India, and Indonesia due to a rise in high-spending visitors and millionaires.

• Energy pressures eased this week as fuel curbs were withdrawn and LPG prices decreased, providing some relief to consumers. • Economic indicators showed mixed results, with softer Purchasing Managers' Index (PMI) readings and a widening fiscal deficit raising concerns about growth. • Persistent inflation risks and monsoon-related uncertainties continue to complicate the economic outlook and influence policy decisions.

Report says current network of buses, trains and stations effectively locks 2.8m people out of workforceInvesting in the UK transport network to make it fully accessible to disabled passengers could boost the economy by £176bn by helping millions more people into work, according to a report.Making the economic case for an inclusive transport network, the Institution of Mechanical Engineers (IMechE) said the current system was inaccessible to almost a quarter of the working-age population. Continue reading...

• US hiring experienced a sharp slowdown in June, following a three-month streak of stronger-than-expected employment data. • The cooling labor market has led investors to reduce their expectations for further Federal Reserve interest-rate hikes this year. • Simultaneously, the Eurozone is seeing a cooling of its Consumer Price Index (CPI), indicating a broader trend of easing inflation across major economies.

• The Dow Jones Industrial Average surged approximately 595 points to reach a new record high following a soft June jobs report. • In contrast, the Nasdaq declined as investors continued a deepening selloff in artificial intelligence and semiconductor stocks. • The divergent market reaction highlights a split in investor sentiment between traditional industrial stability and high-growth tech volatility.

• Egyptian authorities have launched a sweeping crackdown on smuggling networks along the border with Sudan to disrupt the illicit flow of gold. • The operation reveals how Sudan's ongoing internal conflict has fueled a "war economy," pushing gold trade into underground regional networks. • This shift matters as it intensifies regional security concerns and demonstrates how wartime resources are being weaponized to fund combatants.

• The 7th Western Digital Economy Expo (WDEE Expo) concluded on June 28 in Xi'an, China, focusing on the theme of digital convergence and smart innovation. • The event featured representatives from over 30 Chinese cities, 119 leading digital economy companies, and international delegations from Singapore, South Korea, Thailand, and Cambodia. • The expo highlights Xi'an's strategic transition from an ancient capital to a modern "Digital Silk Road" hub, emphasizing the integration of industrial and digital sectors.

• The U.S. Supreme Court has allowed the termination of Temporary Protected Status (TPS) for nationals from Haiti and Syria. • This decision removes the legal protections that previously permitted these individuals to live and work legally within the United States. • Experts warn that the loss of these workers could create significant labor shortages, potentially damaging both local and national economies.

• The Indian government anticipates an economic pick-up driven by stabilizing conditions in West Asia and a decrease in global oil prices. • This optimistic outlook is supported by current economic indicators that suggest strong momentum throughout the first quarter. • Lower oil costs are critical for India, as reduced import expenses typically lower inflation and boost overall domestic growth.

• Japanese Prime Minister Sanae Takaichi is visiting India to meet with PM Modi, focusing on strengthening economic ties and regional security. • Economic cooperation is significant, with approximately 1,400 Japanese firms operating in India and bilateral trade reaching USD 27.5 billion in fiscal year 2025/26. • Japan's commitment to India is further evidenced by USD 3.2 billion in investments recorded between April and December 2025, with nearly half of Japanese companies focused on manufacturing.

Exclusive: Poll shows policies such as rent control and higher wealth taxes could fend off Reform UK in key seatsAndy Burnham is being urged to adopt an “economic populist” approach to combating the cost of living crisis if he becomes prime minister, as a detailed opinion poll shows radical policies could help Labour to retain its majority at the next election.Senior figures advising the Makerfield MP have been circulating a seat-by-seat poll showing Labour’s majority could be demolished at the next general election with the party on course to win fewer than 100 seats. Continue reading...

• The FTSE 100 is expected to open slightly higher today, driven by positive investor sentiment and strong economic performance. • This optimistic outlook follows reports that the UK economy expanded by 0.6% in the first quarter (Q1), exceeding previous expectations. • The growth data provides critical support for the stock market, though analysts predict the index will trade within a narrow range in the short term.

• King and Queen Suthida of Thailand are conducting a state visit to France, featuring a showcase of the country's royal jewels to strengthen diplomatic ties. • Thai authorities have placed 43 provinces under flood and landslide watch due to heavy monsoon rains, with warnings remaining in effect through early July. • Security concerns have risen following a bomb attack in the Tak Bai region that injured two Malaysian nationals.

• The South Korean boy band BTS has contributed approximately $50 billion to the national economy during their first decade of activity. • This economic impact is significant enough to be comparable to the GDP share of a major South Korean airline. • The group was signed in 2013 by Big Hit Entertainment, a small label founded in 2005 by Bang Si-hyuk that nearly faced bankruptcy before the band's debut.