Economy news

• Korean stocks are riding high on an AI wave

  26-06-2026 15:00 via moneyweek.com
  
  Korea is still an emerging market, or so MSCI reckons. On Tuesday, the most important provider of global indices – the MSCI World and the MSCI Emerging Markets matter much more than the equivalents from FTSE Russell and S&P Dow Jones – once again declined to put it on the watch list for upgrade to developed status.On one hand, this situation feels increasingly ridiculous. Korea is a very advanced, high-tech economy, home to key tech players such as Samsung Electronics and SK Hyni
  
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• Why Andy Burnham will wilt like a lettuce

  26-06-2026 17:05 via moneyweek.com
  
  We will find out soon whether Andy Burnham will face a contest for the leadership of the Labour Party or take office unopposed. Either way, it makes little difference now. One way or another, he is likely to be our next prime minister before the end of the summer.There are some ways in which Andy Burnham will be an improvement on the outgoing Keir Starmer. He is a better communicator and more personable. As mayor of Manchester, he is untainted by the failures of the last two years and can make a
  
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• ISA disaster shows why Reeves must leave

  26-06-2026 16:00 via moneyweek.com
  
  Just how much cash will you be able to hold in your ISA from next year and what will it cost you to do so? At first sight, new rules for individual savings accounts (ISAs) due to come into force from 6 April 2027 look straightforward. In practice, they are likely to prove anything but, thanks to tricky new regulations published this week.The confusion stems from changes announced in last November's Budget. Chancellor Rachel Reeves stressed her determination to use the tax system to encourage ris
  
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• EU plans 15% tax on aluminium scrap exports

  26-06-2026 15:28 via ft.com
  Move by Brussels aims to protect domestic producers and prevent valuable metal heading to US and Asia
  
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• Three undervalued mining stocks to buy now

  26-06-2026 15:00 via moneyweek.com
  
  The SVS Baker Steel Electrum Fund invests in mining stocks that produce the metals and materials needed to power the global economy. While technology and consumer stocks receive significant attention from investors, the mining sector is often overlooked yet offers exposure to commodities that are essential for everything from electricity generation to renewable-energy infrastructure. Metals have become strategic again, with demand growth driven by electrification, rising energy consumption and i
  
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• How quickly should a battered Venezuela restructure its debt?

  26-06-2026 12:26 via ft.com
  After two devastating earthquakes, the country is trying to seal a quick deal with bondholders but some are concerned
  
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• Artist David Hockney’s enduring legacy

  26-06-2026 12:00 via moneyweek.com
  
  David Hockney, who died on 11 June, aged 88, was never shy about experimenting with technology. In April 2020, then almost 83, he was interviewed by The Spectator's art critic, Martin Gayford, saying about his iPad that “I was just drawing on this thing I'm talking to you on.”In his “provocative” book Secret Knowledge, published in 2006, Hockney suggested that old masters, such as Vermeer, had used optical aids in their paintings, says Michael Prodger in The New Statesman
  
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• Why poor countries won’t restructure

  26-06-2026 11:30 via ft.com
  Low-income countries are facing deeper shocks, but are refusing to restructure. Why?
  
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• Review: An ideal weekend getaway at Mallory Court in Warwickshire

  26-06-2026 10:30 via moneyweek.com
  
  You cannot help but be struck by a sense of grandeur the moment you arrive at Mallory Court in Warwickshire. This elegant and welcoming country house hotel sits in the grounds of a former stately home, just outside Leamington Spa. The pristine lawn of the main courtyard ushers you towards the entrance, past a neat square of bright tulips. The main building was built during World War I, but, festooned as it is with vibrant ivy and plush wisteria, it gives the impression of being older.This centra
  
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• Global markets fall as investors fret about AI demand

  26-06-2026 06:36 via ft.com
  Apple’s price rises and fears over delay to OpenAI’s IPO send Asian bourses sharply lower
  
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• FirstFT: Wall Street buys Warsh’s tough talk

  26-06-2026 06:31 via ft.com
  Also in today’s newsletter: how the DeepMind mafia brought the AI boom to London
  
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• FirstFT: UK higher-earners in crosshairs for job cuts

  26-06-2026 06:31 via ft.com
  Also in today’s newsletter: Burnham’s foreign policy and Italy’s election rules
  
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• Outlook for Fed interest rates shifts in a hawkish direction

  26-06-2026 06:30 via ft.com
  Read the June forecast from the FT’s Monetary Policy Radar team
  
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• The shrinking arguments for degrowth

  26-06-2026 06:00 via ft.com
  Economic growth isn’t everything for everyone, but it turns out it’s pretty close
  
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• Kevin Warsh’s tough talk on inflation reassures investors

  26-06-2026 06:00 via ft.com
  New Fed chair’s hawkish words and the fall in oil drive down long-term expectations for price rises
  
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• Chinese carmakers ‘knocking at US gate’ from Mexico and Canada

  26-06-2026 06:00 via ft.com
  Beijing-subsidised vehicles emerge as flashpoint in North American trade relationship
  
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• Cost of applying for probate to rise by 75% – what is it?

  25-06-2026 16:25 via moneyweek.com
  
  The cost of applying for probate is set to rise by 75% next month, leaving grieving families forking out hundreds of pounds extra.The Ministry of Justice (MOJ) has confirmed the Grant of Probate fee will increase on 13 July from £300 to £526, subject to parliamentary approval.Martyn James, consumer expert, said the hike would leave people “absolutely justified in feeling upset and ripped off”.He added: “Probate is one of the most antiquated, bureaucratic and complex
  
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• Will Rachel Reeves still be the chancellor following Starmer’s resignation?

  25-06-2026 15:45 via moneyweek.com
  
  Chancellor Rachel Reeves looks set to follow her boss Keir Starmer out of Downing Street following the prime minister’s resignation on 22 June. At present, Andy Burnham appears the most likely candidate to replace Starmer – though a leadership contest could still take place if any Labour MP decides to challenge him. One contender could be Al Carns, who stepped down as armed forces minister earlier in June over criticism of Starmer’s defence investment plan. Carns told journalis
  
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• Rising PCE inflation reinforces hawkish Fed turn

  25-06-2026 15:45 via ft.com
  Higher than expected headline and core inflation in May is accompanied by some good news beneath the surface
  
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• UK housebuilders warn of ‘shockwaves’ as tariffs on steel imports double

  25-06-2026 15:39 via ft.com
  Construction industry says levies will impose punitive costs despite government’s effort to soften blow
  
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• FirstFT: Oil price returns to prewar level

  25-06-2026 12:14 via ft.com
  Also in today’s newsletter, Venezuela earthquakes and Meta to replace human moderation with LLMs
  
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• Cheat sheet for an EU financial geopolitics plan

  25-06-2026 12:00 via ft.com
  How to become an autonomous global power in monetary matters
  
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• Lessons from Brexit for the world economy

  25-06-2026 10:00 via ft.com
  Ten years on, it’s clear the warnings should have been heeded
  
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• FirstFT: Trump demands ‘loyalty’ from Nato allies

  25-06-2026 06:43 via ft.com
  Also in today’s newsletter, Venezuela earthquakes and oil price back at prewar levels
  
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• Bank of England to keep steady all year amid ‘second-round’ worries

  25-06-2026 06:30 via ft.com
  Read the June forecast from the FT’s Monetary Policy Radar team
  
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• European defence stocks face uncertainty

  25-06-2026 06:00 via ft.com
  Berlin’s move to scrap warship project overshadows plans for listing of tankmaker KNDS
  
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• The legal fight to get equal pay for Germany's disabled workers

  25-06-2026 01:10 via bbc.co.uk
  
  A test case is seeking the minimum wage for 300,000 disabled people who currently get paid less.
  
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• FirstFT: Anthropic says Alibaba ‘illicitly’ accessed Claude

  24-06-2026 23:58 via ft.com
  Also in today’s newsletter, China detains two Japanese nationals on smuggling charges, and Venezuela to reveal $240bn debt pile
  
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• SpaceX leads tech selloff: why have shares fallen?

  24-06-2026 17:12 via moneyweek.com
  
  Tech shares have sold off over the past week with SpaceX stock seeing steep declines days after the company’s spectacular initial public offering (IPO). The Nasdaq 100 – a US index mostly containing technology stocks – fell 2.1% in the week to 23 June and the S&P 500 fell 1.9% over the same period. SpaceX (NASDAQ:SPCX) also saw steep declines, shedding 26.2% to bring its share price to below the level it closed its first day of trading following its IPO less than two weeks
  
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• What the cash ISA reforms mean for you as Treasury confirms new interest charges

  24-06-2026 16:30 via moneyweek.com
  
  Investors will face a charge on any interest paid on cash in a stocks and shares ISA, the Treasury has confirmed in its latest guidance on ISA reforms.Plans are underway to reduce the cash ISA allowance to £12,000 per year from April 2027 for savers under age 65.The Treasury is also disincentivising holding uninvested cash in a stocks and shares ISA and restricting how much can be held in cash-style products within this type of ISA.It has confirmed plans for a 22% charge on any interest or
  
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