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• The UK stock market, including the FTSE 100, FTSE 250, and FTSE All-Share, declined on Monday due to rising inflation concerns and warnings from the Bank of England. • Despite the daily dip, the FTSE 100 maintains a strong year-on-year growth of more than 19%. • Market volatility is being driven by fluctuating commodity prices for oil, copper, and gold, alongside geopolitical risks and global bond yield shifts.

• India's foreign exchange reserves have increased to $672.6 billion, while bank credit has seen a growth of 17.7%, according to data from CareEdge Moneycast. • The report highlights a strong financial position for the country's reserves and a significant expansion in banking sector lending. • In a separate regulatory update, various government offices, stock exchanges, and IFSC units must meet reporting obligations by July 15, 2026.

• The fragile ceasefire between the United States and Iran has collapsed following a series of fresh military strikes from both nations. • The escalation was triggered by an attack on a commercial oil tanker located in the Strait of Hormuz. • This conflict resumes just two weeks after Washington and Tehran signed an interim agreement intended to end four months of fighting.

• Enterprise clients now account for over 40% of OpenAI's revenue, though companies like Uber and Lindy are capping spending and switching models to prioritize cost-efficiency. • To drive adoption and real-world results, OpenAI has established a formal alliance network with consulting giants including McKinsey, BCG, Accenture, and Capgemini. • The company is also partnering with cloud and data providers such as AWS, Databricks, and Snowflake to better integrate AI into existing corporate infrastructures.

• The BSE Sensex and Nifty50 opened in the green on Monday, with the Nifty50 trading above the 24,050 level. • Market sentiment remains cautious due to ongoing uncertainties surrounding the US-Iran conflict and a slight increase in crude oil prices. • Technical analysis identifies a critical support zone between 23,750 and 23,800, while a breakout from current resistance could push the Nifty50 toward 24,500–24,800.

• The Bank for International Settlements (BIS) has warned that the current AI boom may be unsustainable, posing a potential risk to global economic stability. • The report highlights mounting financial vulnerabilities, including rising debt levels, strained public finances, and the persistent threat of returning inflation. • These factors are identified as critical pressure points that could destabilize the global economy if the AI-driven growth fails to materialize as expected.

Jacinta Allan resists calls for royal commission into state’s infrastructure projects as pressure mounts following new reportsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastJacinta Allan has resisted growing calls for a royal commission into alleged corruption on Victoria’s $100bn Big Build, declaring “inflationary pressures on projects is not corruption”.It comes after an investigation by Nine newspapers and 60 Minutes reported allegations that money from the state’s Big Build infrastructure projects was being paid to gangland figures and that the state government was warned about cost blowouts due to Construction, Forestry and Maritime Employees Union (CFMEU) demands. Continue reading...

• Ram Singh, Director of the Delhi School of Economics, stated that the easing of conflict in West Asia has reduced the downside risks to India's 6.6% growth forecast. • Growth prospects may be further bolstered by the moderation of El Nino effects and the resolution of ongoing geopolitical uncertainties. • The operationalization of Free Trade Agreements (FTAs) with 37 countries is expected to drive economic expansion by boosting foreign direct investment (FDI) and exports.

• India's external balance and monetary policy options have improved due to the RBI's targeted foreign currency liquidity programme and a significant drop in crude oil prices from their April 2026 peak. • These macroeconomic shifts are positively impacting the corporate earnings outlook, contributing to an acquisition spree by industry giants such as Reliance and L&T. • The analysis includes insights from professor Aswath Damodaran regarding corporate strategy and examines whether China's dollar bond sales in Saudi Arabia could challenge U.S. financial dominance.

• New Federal Reserve Chair Kevin Warsh presided over his first FOMC meeting, where the committee unanimously decided to keep interest rates unchanged at 3.5%-3.75%. • The decision comes as inflation has reached 4.2%, prompting Warsh to issue a clear pledge to prioritize price stability over political pressure for rate cuts. • Despite inflation concerns, the U.S. economy shows strength with the S&P 500 hitting record highs, strong jobs reports, and continued investment in artificial intelligence.