Fall

• President Lee Jae Myung issued a public apology on Wednesday after a recent poll revealed his approval rating plummeted by nearly 10%. • The sharp decline in public support follows the results of recent local elections, signaling significant voter dissatisfaction. • This drop in popularity puts pressure on the administration to address governance failures and improve its relationship with the electorate.

Rolling coverage of the latest economic and financial newsAsian stocks have fallen sharply after Iran and the US exchanged their biggest round of fire since a ceasefire was agreed in April.The US launched strikes against Iran after Donald Trump blamed Tehran for downing a US army helicopter near the strait of Hormuz.On the former, Brent briefly fell below $90 for the first time since April 17th yesterday before partially rebounding after Trump vowed retaliation following Iran shooting down a US helicopter. On the latter, the Philly Semiconductor Index fell by as much as -8.62% intra-day before recovering to -1.93% by the close.Reflation is expected to continue in the near term due to the lasting impact of the war in Iran on imported energy costs, and of course the fading drag from from negative carry-over effect from last year, which most people forget.While oil and gas futures markets are no longer pricing in a further escalation in the Middle East, uncertainty surrounding the peace talks and the effective reopening of the strait of Hormuz appears likely to linger in the near term. Despite the acceleration in the annual rate, monthly momentum slowed noticeably, to just 0.5% m/m from 1.7% a month ago.9am BST: Deadline data for the CMA and Ofcom to report back to government on the Telegraph/Mail deal1.30pm BST: US inflation for May, forecast to rise to 4.2%2.15pm BST: Treasury Committee hearing on student loans Continue reading...

• A phase II trial published in Nature Medicine found that combining the drug apitegromab with tirzepatide (Zepbound) effectively preserves lean muscle mass, potentially mitigating the muscle loss known as "Ozempic butt." • Massachusetts General Hospital has established a novel vascular clinic specifically designed to provide critical care to homeless individuals to prevent amputations caused by peripheral artery disease. • KFF Health News is exploring the role of overlooked social connections as a potential preventative measure against suicide.

• Major Asian stock markets experienced a severe crash, with South Korea's KOSPI index suffering the most significant decline. • Trading on the KOSPI was officially halted after a 9% drop triggered a circuit breaker, while Japan's Nikkei 225 fell by 4%. • Other regional indices, including Hong Kong's Hang Seng, China's Shanghai Composite, Taiwan's TAIEX, and Australia's ASX/200, also saw steep plunges.

• The 2026 Eurovision Song Contest in Vienna saw a significant viewership drop, with 131 million TV viewers compared to 166 million in 2025. • This decline of 35 million viewers follows the withdrawal of five countries—Spain, Slovenia, Ireland, Iceland, and the Netherlands—who boycotted the event over Israel's participation. • Bulgaria's DARA won the competition with the song "Bangaranga," despite the political tensions surrounding the contest.

India declares onset as up to 280mm of rain falls in 72 hours in Kerala, while downpours hit south-west ThailandThe monsoon season has officially begun in parts of Asia, marking the start of a period of enhanced rainfall vital to the region’s economy.The south-west monsoon begins each year as a consequence of a growing temperature difference between the Asian land mass and the Indian Ocean. Through spring, the land heats up more rapidly than the surrounding sea, creating a pressure difference that draws moisture-laden ocean air inland. Once this contrast reaches a critical point, the humid air pushed over the continent rises, condenses into cloud and unleashes intense rainfall across the region. Continue reading...

• Global stock markets, including those in Germany, France, and Spain, declined following a sharp sell-off of U.S. tech stocks last week. • The downturn is driven by persistent investor concerns regarding the valuation and sustainability of tech firms central to the artificial intelligence boom. • Simultaneously, global oil prices have surged as a result of direct military exchanges between Iran and Israel.

• Indian stock indices, Sensex and Nifty, are expected to open lower due to rising crude oil prices triggered by escalating conflict in West Asia. • Market sentiment is further strained by persistent Foreign Institutional Investor (FII) outflows and growing concerns regarding U.S. Federal Reserve interest rate decisions. • Regional risk aversion is evident as the MSCI Asia ex-Japan index fell 3.4%, with South Korea's KOSPI plunging 6.9% and Japan's Nikkei dropping 4.4%.

Robin Pendery died after she fell while climbing on patrol on the mountain known locally as DenaliSign up for the Breaking News US newsletter email A ranger in Alaska died after falling into a crevasse on North America’s tallest mountain, the US National Park Service said.Robin Pendery fell on Thursday while on climbing patrol on the mountain whose locally given name is Denali. She died despite immediate rescue efforts, the park service said. Continue reading...

• Asian markets experienced a significant downturn on Friday, highlighted by South Korea’s Kospi index tumbling 5.7% and Japan's Nikkei 225 slipping 1.1%. • The slump was driven by a cooling AI-led rally, with major tech stocks like Samsung Electronics and SK Hynix falling approximately 6% and 8%, respectively. • Other regional indices were also affected, including a 2.41% drop in the Kosdaq and a 0.2% decline in Australia’s S&P/ASX 200.

Unexpected monthly drop of 0.1% in May leaves price of typical home at £298,806, says lender HalifaxBusiness live – latest updatesUK house prices fell unexpectedly in May as rising mortgage rates fuelled by the war in Iran affected affordability and homebuyer demand.The average price of a typical UK home fell by 0.1% in May to £298,806 compared with April, the third consecutive monthly drop recorded by the lender Halifax. Analysts had been expecting a return to growth, with a consensus of a 0.1% rise forecast for May. The monthly drop followed falls of 0.1% in April and 0.5% in March. Continue reading...

• South Korean stocks plummeted 4% on Friday, driven by a sharp decline in tech heavyweights following a sell-off of AI-linked names on Wall Street. • The downturn extended across Asia-Pacific markets, with Hong Kong's Hang Seng index dropping 0.46% and the CSI 300 declining 0.29%. • This shift reflects a broader market rotation away from chip stocks, which paradoxically helped the Dow Jones Industrial Average reach a record close.

• IndusInd Bank's shares fell 3% following a new whistleblower complaint sent to the PMO, RBI, and other regulators. • The complaint alleges significant governance failures, insider trading, and deficiencies in the bank's forensic and audit reviews. • This scrutiny follows a previous March 2025 disclosure regarding a ₹2,000 crore discrepancy in derivatives accounting.

• Asian stock markets declined on Thursday, with Wall Street futures also dipping as investors retreated from technology and semiconductor shares following Broadcom's earnings. • Significant losses were seen in the Hang Seng Index (-1.78%), Australia’s ASX 200 (-1.17%), and Singapore’s Straits Times Index (-1.14%). • Chinese equities remained more resilient, with the CSI 300 and Shanghai Composite indexes slipping only about 0.6% due to strength in domestic semiconductor stocks.

• On June 3, 2026, the three major U.S. stock indexes declined, ending a five-session streak of closing records. • The S&P 500 specifically snapped a nine-session winning streak as investors pulled back from recent highs. • In contrast to the equity markets, Treasury yields and oil prices both experienced gains during Wednesday's trading.

• PV Sindhu and the doubles pair of Amsakarunan Hariharan and MR Arjun secured victories on Day 1 of the Indonesia Open 2026 at Istora Senayan. • Sindhu extended her dominant head-to-head record against her Thai opponent to 21-1, while Hariharan and Arjun upset Malaysia's Nur Mohd Azriyn Ayub and Tan Wee Kiong. • The results were mixed for the Indian contingent, as top players Lakshya Sen and Kidambi Srikanth suffered early exits from the tournament.

• Investors anticipate that massive funding rounds for AI leaders like OpenAI, Anthropic, and SpaceX will trigger a new global wave of technology spending. • This capital influx is expected to benefit a broad supply chain, including manufacturers of server parts, specialized materials, cooling components, and power equipment. • The trend could catalyze a further rally for Asian hardware firms, following the success of industry giants such as TSMC, Samsung Electronics, and SK Hynix.

• The Indian stock market saw a sharp decline in early trade, with the Sensex dropping nearly 700 points and the Nifty also tumbling. • This downturn was triggered by rising crude oil prices, persistent foreign institutional investor (FII) outflows, and geopolitical uncertainty regarding US-Iran negotiations. • The slump in India contrasts with global trends, as the US S&P 500 and Japan's Nikkei 225 recently hit record highs driven by technology earnings and growth confidence.

Incumbent comes out on top in primary election – but with less than 50% of votes – and will take on challenger in NovemberKaren Bass has come out ahead in Tuesday’s heated primary for Los Angeles mayor, but with less than 50% of the vote will have to defend her seat in November’s general election.Bass will face either Spencer Pratt, a former reality TV star, or city council member Nithya Raman, in November. As of Tuesday evening, it was still unclear who would move on. Continue reading...

• Indian benchmark indices, the Sensex and Nifty, declined on Monday with the Sensex dropping over 500 points and the Nifty falling 0.7%. • The downturn was driven by rising crude oil prices, geopolitical tensions in West Asia, and uncertainty surrounding Iran-US relations, despite strong performance from IT stocks like Infosys and TCS. • Market pressure is further compounded by sustained Foreign Portfolio Investor (FPI) selling, inflation worries, and potential risks associated with the monsoon.

NHS bosses giving evidence to public accounts committee admit current position is unacceptableGPs in England are so “overloaded” that they cannot help older people who are at risk of falling in what NHS bosses accept is an unacceptable failure of care, the House of Commons’ public accounts committee has said.Pressure on GPs’ time has intensified as a result of the government’s decision to give patients online access to their services, according to a report by the influential cross-party group of MPs. Continue reading...

Royal Kennel Club figures show significant declines in registrations of French bulldogs, bulldogs and pugsSquashed-face dogs including pugs and French bulldogs are declining in popularity, data suggests, with experts hopeful the trend reflects a growing awareness of the health problems such breeds face.According to breed registration statistics from the UK’s Royal Kennel Club (RKC), there were 1,400 registrations of French bulldogs in the first three months of 2026 – a 37% drop compared with the same period in 2025. Bulldog registrations dropped by 34% and pug registrations by 43% with only 126 of the breed registered in the first three months of 2026. Continue reading...

• President Lee Jae-myung addressed the prosecution on the 2nd, urging officials to apologize and withdraw when mistakes are made rather than operating under a delusion of infallibility. • Lee advocated for the introduction of mail and electronic voting to expand the voting rights of overseas Koreans, describing it as a basic citizen's right rather than a service. • He emphasized that while minority opinions should be respected, the National Assembly must not avoid the issue and should proceed based on majority opinion if agreements cannot be reached.

• South Korea's stock market has overtaken India's to become the world's sixth-largest, fueled by a massive AI boom and the success of its semiconductor giants. • India's market performance is currently hindered by a lack of direct AI exposure and the negative impact of a weakening rupee. • This shift highlights a growing gap in technological leadership between the two nations, as AI-driven hardware demand boosts South Korean valuations.

• Indian stock markets plummeted on Tuesday, with the Sensex falling over 400 points and the Nifty dropping below 23,250. • The downturn was driven by escalating US-Iran tensions and persistent selling by foreign institutional investors (FIIs), causing declines of over 1% in the Auto, Realty, and Consumer Durables sectors. • Despite the broader crash, Nifty IT gained nearly 2%, while 1,650 stocks on the NSE declined compared to 887 that advanced.

• The FAA issued an environmental assessment and a record of decision on May 15 approving test flights for SpaceX's "Starfall," an uncrewed reentry vehicle. • These vehicles are designed to support in-space manufacturing projects by safely returning materials from orbit to Earth. • The FAA concluded that the Starfall test flights would not result in any significant environmental impacts.

• The Dow Jones index declined on Monday following reports that Iran has halted ceasefire negotiations with the United States. • Market volatility was mixed, with Nvidia seeing a price increase while other sectors reacted to the geopolitical tension. • Warren Buffett's Berkshire Hathaway contributed to market movement by boosting its position in an undisclosed stock.

Nationwide finds typical price was £278,024 in May, as Savills says Iran war has ‘fundamentally changed’ outlookBusiness live – latest updatesHouse prices fell in the UK for the first time this year in May, as rising interest rates triggered by the war in Iran hurt homebuyer demand.The price of the average UK home dropped 0.6% in May compared with the month before, according to the lender Nationwide. Continue reading...