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• Wall Street experienced mixed trading as AI-related stocks, including a surging Micron, offset losses from Apple following the company's decision to hike product prices. • New economic data revealed that U.S. consumer inflation accelerated to 4.1% last month, up from 3.8% in April, driven largely by earlier spikes in oil prices. • Despite the increase, the inflation figure aligned with economist expectations, preventing a broader market sell-off.

• South Korea's Kospi index surged more than 5 per cent on Thursday, June 25, leading a broader tech-driven rally across Asian markets. • The surge was triggered by a forecast-busting earnings report from U.S. chip giant Micron, which eased investor concerns regarding the sustainability of the AI investment boom. • Market gains were further supported by a significant plunge in oil prices, creating a more favorable environment for regional traders.

• Asian markets, including the Nikkei 225 and Kospi, rallied following a strong earnings report from US chipmaker Micron. • Micron reported a significant surge in revenue and profit, with revenue soaring fourfold due to intense demand for AI-driven chips. • The positive results pushed Micron's market valuation above $1 trillion, reversing recent turmoil and volatility seen in tech stocks.

• France has reported 40 drowning deaths since last Thursday as a severe heatwave grips the region. • While temperatures on the Iberian peninsula are expected to decline starting Wednesday, the heat is shifting northward. • Record June heat is projected to peak in Germany, Belgium, and the Netherlands this Friday.

Great Britain has paid at least six times normal for imported power as millions turn on air conditioning and windfarms’ output sagsThe heatwave has prompted a sharp rise in electricity prices across European markets as millions turn to air conditioners and electric fans to battle record high temperatures, which have also caused string of power plant outages across the continent.Great Britain imported electricity from Europe at more than six times the normal price on Tuesday as the high pressure heat dome has slowed wind speeds, hitting renewable energy generation, and caused outages at multiple gas plants across the country. Continue reading...

Martin Seidenberg, chief executive of parent company IDS, handed payouts after takeover of UK postal serviceBusiness live – latest updatesThe boss of the parent company of Royal Mail saw his pay and bonus package more than triple last year to almost £7m, despite group profits slumping by a fifth.Martin Seidenberg, the group chief executive of International Distribution Services (IDS), took home £6.9m in pay, bonus and long-term incentive scheme awards in the year to 31 March. This compares with the £2.1m he took home the previous year. Continue reading...

• The USMNT has advanced to the round of 32 after defeating Australia, positioning themselves as potential group winners depending on subsequent Friday results. • The team achieved this victory despite the absence of star player Christian Pulisic, demonstrating depth and tactical flexibility. • This result allows the U.S. to potentially rest key players like Tyler Adams, Antonee Robinson, Folarin Balogun, and Chris Richards in the final group match to avoid yellow card suspensions.

• Rising operational costs for proprietary AI models are driving investors and developers toward open-source alternatives to reduce dependencies on expensive closed systems. • Chinese firms are currently leading this movement, leveraging open-source frameworks to rapidly scale their AI capabilities and challenge Western dominance. • A "rebel alliance" of startups is emerging across the AI stack, focusing on creating accessible, transparent, and cost-effective infrastructure for enterprises.

Theft rises in both states, even as Victoria’s crime rate decreases 1.9% on the year beforeVictoria has recorded its first drop in crime in four years and fewer young people are offending, but a surge in theft is bucking the trend – mirroring concerns in New South Wales, where a sharp rise in ebike theft has helped drive stealing rates higher.The Victorian Crime Statistics Agency (CSA) on Thursday released data for the 12 months to March 2026, which showed there were 625,426 criminal offences recorded in Victoria – a decrease of 1,524 or 0.2% on the previous 12 months. Continue reading...

• Booking Holdings (NASDAQ:BKNG) shares surged 6.3% in morning trading following a Trump administration announcement regarding a new peace deal. • The agreement aims to reopen the Strait of Hormuz, reducing geopolitical risks and restoring the availability of affordable travel routes. • The stock jump is significant as BKNG is typically low-volatility, experiencing only seven price swings greater than 5% over the past year.

Heatwave conditions build over much of continent, while mild start to winter continues in parts of AustraliaHot weather is expected across Europe this week as heatwave conditions build over large swathes of the continent.A mass of hot air from the Sahara has settled over the Iberian peninsula and spread into southern and western France, pushing temperatures widely into the low- and mid-30s celsius. Continue reading...

• Asia Pacific stock markets rallied significantly following a peace agreement between the U.S. and Iran, which reduced global geopolitical risks. • South Korea's KOSPI led the surge with a 5.38% increase to 8,561.07, while other indices including Australia's ASX 200, China's SSEC, SZI, and Hong Kong's HSI also saw gains. • This market optimism reflects investor confidence that the diplomatic resolution will stabilize international trade and economic security.

• The Indian stock market surged, with the Sensex climbing 1,126.36 points (1.49%) to 76,654.31 and the Nifty rising 339.25 points (1.44%) to nearly 24,000. • Market gains were driven by falling oil prices following a US-Iran deal, with 557 shares advancing compared to only 65 declines. • Key gainers included Shriram Finance, Interglobe Aviation, Bajaj Finance, and L&T, while ONGC, Cipla, and Apollo Hospitals saw losses.

Tech company received infrastructure relief as its five biggest UK divisions generate £32bn in revenuesAmazon’s main division in the UK was handed a £7.6m tax credit last year by HM Revenue and Customs, despite profits at the retail-to-streaming company surging by more than a quarter to £355m.Amazon UK Services – which employs 66,000 staff, the vast majority of its 75,000 employees in Britain – said it owed £9.1m in “current tax” last year. Continue reading...

• Asian economies are experiencing a stark divergence in financial performance due to the ongoing conflict between Israel and Iran. • While some regional stock markets are soaring, several national currencies are sliding as investors react to geopolitical instability. • This contradiction highlights the varying levels of vulnerability among Asian nations, depending on their energy dependencies and trade ties.

• The Dow Jones Industrial Average soared 875 points to reach a new record close on Thursday, June 4, 2026. • Gains were primarily driven by strong performances from UnitedHealth Group and Goldman Sachs, which helped the index overcome a tech-led pullback. • In contrast, the S&P 500 faced headwinds as Broadcom and other AI chipmaker stocks experienced significant declines, and oil prices retreated.

Follow today’s news liveGet our breaking news email, free app or daily news podcastA Labor MP has declared victory in the debate over the government’s tax reforms, engaging in a bit of meta-commentary at the end of parliament’s sitting fortnight.Julian Hill made the comments on the ABC’s Afternoon Briefing on Thursday.I believe the government’s won the debate on negative gearing. I believe we’ve won the debate on capital gains tax on property.And we’re winning the debate, we got a way to go, on removing the distortion that would otherwise be there. … I think we’re winning the debate … Start ups and so on, we are still engaging on. Continue reading...

• Marvell Technology shares surged 32%, marking the company's best single-day stock performance to date. • The rally follows a prediction by Nvidia CEO Jensen Huang, who suggested Marvell has the potential to become the next trillion-dollar company. • This growth is supported by strong financial performance, including the company beating analyst estimates for its 2027 first-quarter earnings reported in May.

• ChronoScale Corporation shares surged over 15% on Tuesday, driven by investor optimism regarding the company's focus on AI compute infrastructure. • The stock rally follows a strategic spin-off and recent leadership changes designed to position the company for growth in the specialized AI sector. • This price jump reflects a broader market trend where investors are aggressively betting on specialized infrastructure plays to support AI development.

• Sterlite Technologies has emerged as a dominant Indian AI proxy, with its share prices soaring by 450% in 2026. • The company's growth has significantly outperformed global memory giants, including Samsung and SK Hynix, during the same period. • This surge challenges the narrative that Indian stocks have failed to participate in the global AI rally, demonstrating that domestic plays can capitalize on AI exuberance.

• South Korea experienced a significant tourism boom in April, with Seoul alone welcoming over 1.5 million foreign visitors. • China emerged as the primary driver of this surge, leading other major contributing markets including the United States, Japan, Taiwan, and the Philippines. • The influx of tourists resulted in a massive economic boost, with total visitor spending soaring to 1.15 trillion won.

• Major U.S. stock indexes rose in early trading on Tuesday, marking the start of a holiday-shortened week following the Memorial Day break. • The S&P 500 reached a new all-time record high, driven largely by a significant surge in semiconductor and chip-related stocks. • This growth reflects continued investor confidence in the technology sector and overall market momentum despite the shortened trading schedule.

Australia now a top-three global player in batteries, and renewable energy met nearly half of the nation’s power in 2025Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastEnergy bills for households and small businesses will fall by up to 10% per cent in July across parts of the eastern states, as a new industry survey shows record levels of renewables and batteries in the power grid.The final default market offer, which sets out the maximum amount retailers can charge on plans, shows price reductions for households and even bigger drops for small businesses. Continue reading...

Australia now the world’s third-biggest nation for utility-scale batteries behind China and the US. Follow today’s news live Get our breaking news email, free app or daily news podcastAustralia has become a top-three global player in batteries, and renewable energy met nearly half of the nation’s power in 2025, but the Clean Energy Council has warned that progress could stall as investment in new wind and solar plummeted.The industry’s annual snapshot found renewable energy supplied 43% of Australia’s power throughout 2025, up from 39% in 2024. The year ended on a high, with clean energy generating more than 50% of power in the national grid in the final quarter.The next five years matter most. Our sector’s highest priority in 2026 must be to remove the barriers slowing investment in new large-scale wind and solar projects that will ultimately replace unreliable coal generators that threaten the security of our energy system. Continue reading...

Rents will rise and homelessness quadruple in a decade unless serious steps to cut emissions are taken, University of Sydney researchers findFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastGlobal heating could worsen housing affordability, push up rents and quadruple homelessness in a decade without fairer housing policies and action to reduce emissions, new research has found.Home prices and rents in Australia are influenced by a complex mix of factors, from incomes and mortgage rates to insurance premiums, available land and population. Continue reading...

Carmaker gives one of biggest warnings yet of conflict’s impact on businesses while Trump tariffs also take tollToyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.The world’s biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war’s impact on businesses. Continue reading...

International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on IranBusiness news – live updatesThe parent company of British Airways has issued a profit warning and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war.International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up from previous forecasts of €7.1bn. Continue reading...

As the cost of the scheme blows out, the government has announced the full discount will be retained for another year, after which it will only apply to EVs costing less than $75,000Get our breaking news email, free app or daily news podcastLabor has opted to retain its electric vehicle discount in full for another year, as Australians rush to buy EVs amid soaring fuel costs linked to the Iran war.But the budget next Tuesday will include a number of “sensible changes” that wind back the scale of support over the next three years, as the government acknowledges the need to deliver a “more financially sustainable” tax incentive for EVs amid ballooning costs of the scheme. Continue reading...