Negotiations aimed at reaching permanent end to war will initially focus on Israeli-Hizbollah conflict in Lebanon

Competing narratives of abandonment — from Iran to Greenland — could lead to Nato’s permanent unravelling

Funding this year has already surpassed 2025 total as soaring valuations fuel fears of a hype cycle

Traders see more volatility ahead as new central bank chair declines to give dot plot on future path of interest rates

Possible Democratic presidential candidate describes war as historic ‘American national security mess’

Prior 47.6 Composite PMI 48.5 vs 47.5 prelim Prior 48.8 Despite the troubles in France, the overall Eurozone services economy managed to hold up in May. However, private sector business activity as a whole fell to an 18-month low and marked back-to-back months of contraction for the first time since the end of 2024. Looking to…

Prior 46.9 Final Composite PMI 48.8 vs 48.6 prelim Prior 48.4 Key findings: Service sector remains in contraction in May, but expectations rebound Business activity falls for second month running, albeit at a slower pace Expectations for activity in the next 12 months rebound from April's low Output price inflation eases despite persistent…

Services PMI 44.3 vs 42.9 prelim Prior 46.5 Composite PMI 44.9 vs 43.5 prelim Prior 47.6 Even with an improvement to the initial estimates, this is still a very poor reading for French services activity. Of note, both activity and new business levels decreased at their steepest rates in five-and-a-half years with employment conditions also deteriorating…

Prior 49.8 Composite PMI 50.4 vs 50.5 prior Key findings: Italian service providers face strongest cost pressures since start of 2023 Business activity falls for third month running New business back in contraction Rate of cost inflation hits 40-month high Comment: Eleanor Dennison, Economist at S&P Global Market Intelligence: "The Italian…

The European Parliament committee just voted in favour of the legislation to remove duties on many US goods and imports, essentially steering clear of another clash with the US on trade - such as the one last year. As a reminder, US president Trump set a deadline of 4 July for the EU to sort…