Street

• The Nasdaq plummeted 4%, marking its worst single-day decline in over a year, while the S&P 500 ended a nine-week winning streak. • In contrast to the market volatility, the U.S. economy showed resilience by adding 172,000 jobs in May, exceeding initial expectations. • A significant corporate governance shift occurred following the April 2025 LTRIP merger, which removed the company's controlled-company status and reduced insider power.

British Retail Consortium figures show footfall rose in May, with consumer confidence improving after spending squeezeGreater numbers of consumers went shopping last month as spring sunshine brought welcome relief to retailers, which have faced a squeeze on spending since the US-Israel war on Iran.Figures from the British Retail Consortium (BRC) and a separate survey by the accountancy firm BDO showed a bounce-back in footfall during May, reversing a sharp decline in April. 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.

• Oil prices have increased following a series of missile attacks launched by Iran against Kuwait and Bahrain. • A new U.S. proposal targets 16 economies, including Canada, Mexico, the EU, Taiwan, and the UK, with 10% tariffs due to alleged failures in enforcing forced labor bans. • Additional import duties of 12.5% are proposed for several other nations, including China, Japan, India, South Korea, and Switzerland.

• 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.

• US stock markets remained near record highs on Wednesday, June 3, 2026, despite pressure from geopolitical instability. • Oil prices climbed toward $100 per barrel due to renewed tensions involving Iran and concerns over the Strait of Hormuz. • Market resilience was driven by strong corporate earnings and investor optimism regarding the potential reopening of critical shipping lanes.

• The Sensex plummeted by over 1,100 points during a mid-session trade on Wednesday, driven by a combination of tech stock declines and rising energy costs. • Crude oil prices surged toward the $100 per barrel mark due to renewed geopolitical tensions and flare-ups in the Persian Gulf region. • The market volatility caused the Indian rupee to weaken, dropping by approximately 50 paise in intra-day trading.

Exclusive: Research showing Andy Burnham holding slim lead finds honesty in politicians and immigration also rank as importantVoters in Makerfield rank the cost of living, declining high streets and public services as among the most important issues locally, with many also disillusioned by the political system and distrustful of politicians, according to new research.The findings come from a focus group, shared exclusively with the Guardian, which was commissioned by 38 Degrees and carried out by JL Partners. The fieldwork took place roughly two weeks ahead of the byelection on 18 June, when the Greater Manchester mayor, Andy Burnham, is hoping to see off a challenge from Reform UK. Continue reading...

• South Korea is emerging as a primary indicator of how the AI boom and rising energy costs could trigger inflation, potentially forcing central banks to resume monetary tightening. • Market sentiment is currently fragmented, with bonds focusing on inflation and energy markets on supply risks, while equities remain driven by AI-led productivity gains. • This tension highlights a disconnect between optimistic stock market projections and the cautious reality of financial conditions and currency volatility.

• U.S. stock markets are approaching new record highs, driven primarily by the continued growth and momentum of the artificial intelligence boom. • Global markets mirrored this optimism, with indexes rising across Asia and Europe, including a significant 2.5% jump in Hong Kong’s Hang Seng index. • This trend underscores the dominant influence of AI-related stocks in propelling broader market valuations upward.

Former health secretary described as ‘hysterical’ about the issue by Peter Mandelson in messages disclosed this weekUK politics live – latest updatesWes Streeting has said he felt he was “hitting up against a brick wall” when he tried to raise concerns about Gaza in government, after private messages from Peter Mandelson were disclosed where he was accused of being “hysterical” about the issue.Among a huge release of documents relating to Mandelson’s appointment as ambassador to the US, WhatsApp messages showed Mandelson being highly critical of Streeting to Pat McFadden, another cabinet minister. Continue reading...

• U.S. stocks finished Monday, June 1, with the Dow, S&P 500 and Nasdaq all higher, as technology shares helped lift the market in early June trading. • The Dow rose 46.42 points to 51,078.88, the S&P 500 gained 19.90 points to 7,599.96, and the Nasdaq added 114.19 points to 27,086.81, according to the closing figures reported from New York. • The move mattered because investors were balancing inflation and interest-rate concerns while still keeping major indexes near record territory after a strong May run.

• India and the US will initiate a four-day round of talks starting Monday to finalize the details of a proposed interim trade agreement. • Market analysts, including Geojit Investments' Dr. V K Vijayakumar, note that Foreign Portfolio Investors (FPIs) are shifting capital from India to the US, Japan, South Korea, and Taiwan. • This capital flight is driven by superior earnings growth and strong AI-related trade in those developed markets compared to poor earnings growth within India.

Labour should also drill for oil and gas in North Sea, says former health secretary and leadership candidateWes Streeting has called for national insurance tax cuts for businesses, and for the government to drill for oil and gas in the North Sea.The former health secretary and Labour leadership candidate told the Sunday Times there should be a “targeted reduction” of employers’ national insurance contribution as a way to “actively incentivise” hiring, particularly of young people. Continue reading...

• U.S. stocks finished at new closing highs on May 29, with the Dow up about 0.67% and major indexes extending weekly and monthly gains as technology shares led the rally. • The move was supported by upbeat earnings guidance from companies such as Dell and broader AI-related enthusiasm, while investors also watched inflation and Federal Reserve policy signals. • The rally matters because it shows investors still favor growth and AI-linked names even as concerns persist about inflation, oil prices, and the rate outlook.

Despite government pledges, more than 20 authorities will not allow gullies, citing safety, legal and parking concernsThe energy secretary, Ed Miliband, has said charger gullies to connect electric cars parked on streets will help cut costs for drivers, yet millions of UK households may be unable to use the simple technology because their local councils will still not allow charging cables to cross the pavement.Despite government promises to “slash red tape” and make it easier to put in gullies, more than 20 local authorities appear to be holding out against them. Continue reading...

• Wall Street indices edged higher and oil prices declined on May 28, 2026, following a series of record-breaking market gains. • The positive market sentiment is driven by investor optimism regarding a tentative deal to extend a ceasefire involving Iran. • This shift reflects a decrease in geopolitical risk, which typically lowers oil prices and encourages equity investment.

• U.S. stocks rose to records on Tuesday, with the S&P 500 climbing 0.6% to 7,519.12 and the Nasdaq gaining 1.2% to 26,656.18, while the Dow slipped 118 points. • Micron Technology jumped 19.3% to above $895.88 and was the strongest force lifting the market, helping push the chip-heavy rally. • The move mattered because it extended a broad tech-led advance and came as traders digested President Donald Trump’s comments that Iran talks were “proceeding nicely.”

Former health secretary says he unsuccessfully argued for tougher action when in cabinetGood morning. The government has been consulting on whether to follow Australia and impose a ban on social media for under-16s, or whether to opt for other restrictions, and the consultation ends at 11.59pm tonight. Keir Starmer is expected to announce the government’s response soon afterwards. He has already said that there will be action of some sort. Last year ministers were sceptical about following the Australian example, but this is an issue where opinion – both in government, and in society more broadly – has been shifting very quickly.This morning Wes Streeting, the former health secretary who is running what is in effect a leadership campaign, has intervened. As the Guardian reports, he has said that a social media ban for under-16s “must be the start, not the end” and he has compared the sector to the tobacco industry.Streeting restated his claim that social media is like the tobacco industry and suggested that, just as tobacco bosses did in the mid-20th century, social media executives have been suppressing evidence about the full extent of the harm caused by their products. He said:What we’ve seen from Big Tech is behaviour akin to Big Tobacco … We know from whistleblowers that in the tech industry, among those who are responsible for designing technology, including social media platforms, that are changing every aspect of our lives, they know that the product they’re designing is addictive, they know that it is harmful, and the business model is orientated towards getting kids while they’re young, addicting them with the design features that are designed for addiction, to grab your attention and keep you on their platform for as long as possible.He said there was a “growing body of evidence” about the ways in which social media is harmful.And then we see the consequences beginning to emerge through the growing body of evidence about the impact of this technology on childhood, whether that is sleep, concentration, learning, health, wellbeing, including mental health.The harms are evident.He claimed governmments around the world had been “asleep at the wheel” on this issue. “Frankly, legislators, regulators, have been asleep at the wheel on this,” he said.He suggested that Keir Starmer had been “behind the curve” on this issue. While he was not overly criticial of the PM on this issue, suggesting that governments around the world have been slow to confront social media companies on this issue, he made it clear that he thought the Starmer government could have acted more quickly. He said that he was speaking out now because he was “liberated from the obligations of collective responsibility”. He said the arguments he was making in public today were the ones he was making privately in government, “in a number of cabinet committees and meetings”, and that he “pushed as hard as I could”. He said the government was now moving to a “better position”, but he suggested Starmer could have acted more quickly.To be fair to Liz Kendall, the science and technology secretary, she came into office [in September last year], she’s gripped this, she’s chosen to run a rapid consultation with the principle of how to implement restrictions, rather than whether. That’s all positive. And I trust Liz Kendall to act quickly following the closure of the consultation today.And we must, because, as I say, we’re behind the curve. Continue reading...

• The BSE Sensex gained 45 points and the Nifty50 climbed above the 24,000 mark on Tuesday, reversing an initial opening in the red. • Market volatility was driven by geopolitical tensions as the US resumed strikes on Iran, though positive developments regarding the conflict's end have sparked rallies. • The current trend is closely tied to fluctuations in crude oil prices, which previously contributed to a significant 1,073-point surge in the Sensex.

• On May 25, 2026, Felipe Sinisterra and Dave Wang launched specialized AI training courses designed specifically for Wall Street bankers. • The program aims to integrate artificial intelligence into financial operations to enhance efficiency and decision-making within the banking sector. • This initiative matters as it represents a targeted effort to upskill high-level financial professionals to keep pace with rapid technological advancements.

Former health secretary’s intervention comes as government closes consultation on age limits for social media platformsSocial media companies should be treated like the tobacco industry, Wes Streeting has argued, as he called for a ban on under-16s accessing certain platforms.Speaking publicly about the prospect of a ban for the first time since he left government, the former health secretary said one was needed because large technology companies were trying to dodge regulations. Continue reading...

Supporters of Reza Pahlavi, exiled son of the late shah, are clashing with those who oppose a return of monarchyWearing a bucket hat, a blue Adidas hoodie and khaki shorts, Tony Mohraz, also known as 021kid, chest-bumps a friend in front of a memorial wall in Golders Green, in north London.Photographs can be seen behind him of those who were killed protesting against the Iranian regime. As a large lion and sun flag used in Iran before the Islamic revolution is waved overhead, Mohraz starts to rap. Continue reading...

Can Andy Burnham do a better job than Keir Starmer? Is Makerfield more important for Reform than Labour? Can the UK rejoin the EU? Pippa Crerar and Kiran Stacey answer your messages and emails Continue reading...

In interview with Guardian, former health secretary sets out plans for government, including social care, tax and refugeesWes Streeting has insisted he can win over the Labour left, as he launches a shadow campaign for the party leadership, saying he has “beaten the odds” throughout his life and can do so again.The former health secretary, who called on Keir Starmer to resign as he quit the cabinet last week, warned Labour MPs that drifting on with Starmer in charge risked a Joe Biden situation that would usher in a Reform government. Continue reading...

MP says current system is unfair and his idea would result in a ‘wealth tax that works’UK politics live – latest updatesFormer health secretary Wes Streeting has set out plans for a “wealth tax that works”, by equalising tax on assets and income.Streeting said the current system – in which capital gains tax is generally much lower than income tax – was not fair and penalised work, arguing the taxes should be equalised. Continue reading...

Treasury’s Lucy Rigby says Rachel Reeves introduced measures in her first budget as Streeting calls for capital gains rates to be aligned with income taxGood morning. It’s a big day for Rachel Reeves, the chancellor. In a Commons statement, she is announcing a series of measures to help people with the cost of living. She wants people to enjoy a “Great British summer”, she says. Reeves’s plan for what makes for a good summer is not quite the same as Samantha Niblett’s; the chancellor is talking about free bus travel for children, as Heather Stewart, Peter Walker and Sarah Butler report in their preview.Reeves is speaking after 11.30am.We already tax wealth in this country. The chancellor introduced a host of measures in her first budget, and then further measures in the last budget as well, that try and make sure that tax is as progressive and fair as possible. Continue reading...

Many analysts view company’s financial performance as a broader referendum on AI buildoutNvidia continued its years-long streak of beating Wall Street’s expectations for growth on Wednesday, reassuring most investors that the AI boom, particularly the global explosion of datacenters, will continue apace.“The buildout of AI factories – the largest infrastructure expansion in human history – is accelerating at extraordinary speed,” said Nvidia’s CEO, Jensen Huang, in a statement. “Agentic AI has arrived, doing productive work, generating real value, and scaling rapidly across companies and industries.” Continue reading...