Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to data from the Department of Energy.The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility.
By Joe LightThe Federal Reserve under new Chairman Kevin Warsh is in no rush to lower interest rates, but a multiyear effort by President Donald Trump's administration might have the effect of pushing down mortgage rates for many Americans anyway.Last week, Trump downplayed a bipartisan affordable…
By Nick KostovPARIS — The French parliament passed legislation Monday imposing fines on ultrafast fashion retailers, part of the country's effort to curb the environmental impact of cheap, high-volume clothing and rein in Chinese e-commerce giants that have flooded Europe with low-price apparel.She…
Resident doctors in England have voted to accept the government's latest pay and job offer, their union said on Monday, bringing an end to a long-running industrial dispute that has disrupted the National Health Service.The British Medical Association said 53% of its eligible members had backed the…
By Ann SaphirFederal Reserve Governor Lisa Cook was the first U.S. central banker to be targeted for firing by any president. She is no stranger to being first, or to being targeted.The daughter of a nursing professor mother and hospital chaplain father, Cook and her sisters were among the first Bl…
The Supreme Court's decision blocking President Trump from firing Fed governor Lisa Cook sets a pretty firm precedent that the bar for removing an official is slightly higher, says Michael Pearce, chief US economist at Oxford Economics. "I think that's kind of the key takeaway here for Fed independ…
By Bob TitaThe American steel industry is reaping the benefits of the AI data-center construction boom. But now, steelmakers are warning of a high-stakes competition with their data-center customers for a commodity they both require: electricity.Data centers' insatiable demand for electricity is dr…
By Sukanya MitraGold prices fell on Monday as fresh U.S.-Iran tensions lifted oil prices and sparked fears of inflation, bolstering expectations of higher interest rates.Spot gold slid 1.5% to $4,025.83 per ounce by 12:12 p.m. ET (1612 GMT), after falling more than 2% earlier in the session and hit…
Uncertainty about the future of the U.S.-Mexico-Canada trade pact will continue to cast a pall over the Canadian economy and lead to slower-than-anticipated growth in 2026, Capital Economics says. Trade uncertainty and lower immigration intake is expected to slow growth this year to 0.5%, CapEcon s…
By Reshma Kapadia and Molly BordoffTrade is back on the agenda this week. The U.S., Mexico and Canada need to decide by Wednesday to renew their trade pact, which governs roughly $2 trillion in goods trade, scrap it — or enter a limbo period of continued negotiations and annual reviews of the deal…
By Emily RussellPresident Donald Trump can fire employees of federal regulatory agencies without cause, the Supreme Court ruled on Monday.The high court ruled 6-3 in favor of the Trump administration in Trump v. Slaughter. Rebecca Slaughter filed the lawsuit against the president and other executiv…
By Michael S. DerbyFederal Reserve Governor Lisa Cook said the U.S. Supreme Court's decision on Monday to block President Donald Trump's attempted firing of her defended the central bank's independence.The 5-4 ruling by the nation's highest court "recognizes that Federal Reserve independence is ess…
A newly Russian-flagged LNG tanker - Arctic Express - has picked up a cargo of liquefied natural gas from a floating storage facility used to trans-ship gas from the Arctic LNG 2 project, which is under U.S. sanctions, LSEG data showed.Arctic LNG 2, initially planned to be one of Russia's largest L…
While geopolitics remains important, the bigger market driver in the second half of the year might be monetary policy, Columbia Threadneedle Investments' Anthony Willis says in a note. In the U.S., the economy remains resilient and the Federal Reserve has adopted a more hawkish tone, the senior eco…
LONDON, June 29, 2026 /PRNewswire/ -- On June 22, CATL and the Ellen MacArthur Foundation announced two new initiatives together with BMW, Renault, Volvo, Google, Xiaomi and other industry leaders and stakeholders, at the Climate Innovation Forum, the flagship event of London Climate Action Week 20…
Heatwaves pose a new downside risk to European growth, ING's Carsten Brzeski says in a note. Germany, France and the U.K. among others experienced their hottest days on record for June in the last week. A 2021 study of Europe's worst heat years put GDP losses from reduced labor productivity alone a…
LONDON, June 29, 2026 /CNW/ -- On June 22, CATL and the Ellen MacArthur Foundation announced two new initiatives together with BMW, Renault, Volvo, Google, Xiaomi and other industry leaders and stakeholders, at the Climate Innovation Forum, the flagship event of London Climate Action Week 2026, thr…
The Supreme Court ruling blocking President Trump from firing Fed governor Lisa Cook could be a reset back to a more typical interaction between the White House and the central bank, said Claudia Sahm, chief economist at New Century Advisors and former Fed economist. "Many presidents want the Fed t…
Slovak utility Slovenske Elektrarne has started fuel loading at the fourth unit of the Mochovce nuclear power plant, nearing the start of production after nearly four decades of construction, the company said on Monday.The 471-megawatt unit will be the last to come online at the country's second nu…
Staff WriterAbu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today formally broke ground on its 1-gigawatt (GW) wind farm in the Zhambyl region of Kazakhstan.The wind farm is Masdar’s first renewable energy development in Kazakhstan and one of the largest integrated wind…
