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Iraq: OPEC departure decision is possible if no quota increase

Now, as energy costs decline, it’s tempting to think consumer spending can accelerate. But that might be too optimistic a take. Despite headline resilience, the energy shock, coupled with persistent non-energy prices, have weakened the US consumer and their capacity to absorb further price pressures. That’s not enough to break our cautiously optimistic U.S. ...

The biggest U.S. banks would be able to absorb more than $708 billion in losses in a severe global recession while continuing to lend to households and businesses, according to the Federal Reserve’s annual stress test. CNBC's Leslie Picker reports.

Washington, DC

Treasury Secretary Scott Bessent, at right, gave a speech Tuesday night in which he appeared to give Fed Chair Kevin Warsh, at left, permission to hike interest rates. A lot of ink has been spilled in recent months predicting how new Federal Reserve Chair Kevin Warsh would face the wrath of President Donald Trump unless he could quickly deliver more ...

The biggest breakout star of the 2026 World Cup might just be Erling Haaland’s Hermès Birkin bag collection. The Norwegian soccer star has been jet-setting all over the world during the international series, carrying a multitude of rare Birkins along the way. Snapped by paparazzi and sharing pics on Instagram alike, Haaland hasn’t toted any regular style — ...

The results of the Federal Reserve Board's annual bank stress test confirmed that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses. Despite absorbing more than $708 billion in total loan losses under this year's hypothetical scenario, capital declined only 1.6 percentage points in aggregate, staying above minimum capital requirements. "Today's results underscore the strength of the banking system," Vice Chair for Supervision Michelle W. Bowman said. "As we work to increase the transparency and accountability of the stress test, public feedback will help us continue to improve and instill greater confidence in the stress test and its results." As the Board previously announced, today's results will not impact large bank capital requirements, which have been published today. The current capital requirements will stay in place until 2027, when the stress test will be run with loss-estimating models that take public feedback into consideration. All 32 banks tested remained above their minimum common equity tier 1 capital requirements during this year's hypothetical recession scenario, which was similar in severity to the prior test. The hypothetical scenario this year included a severe global recession with a 39 percent decline in commercial real estate prices and a 30 percent decline in house prices. The unemployment rate also increased to a peak of 10 percent, and economic output declined commensurately. Three main factors influenced the results of this year's test, with two leading to a larger decline in the aggregate capital ratio than last year, and one more than offsetting this decli The Fed: 32 large banks are well-positioned to weather a severe recession and continue lending under the latest stress test - Statement

The labor share of income in the U.S. is currently at its lowest-ever level in the post-war period. The labor share measures the fraction of economic output paid to workers as wages and salaries. As such, it is a useful benchmark for wage growth: when the labor share falls, it means that productivity, prices, or both are growing faster than wages. After ...

Analysts and markets were in unison following Kevin Warsh’s first press conference as chair of the Federal Reserve – he’s a hawk, orthodox, not the president’s sock puppet. But the hawkish interpretation is premature and it may be wrong. Time will tell. This was Warsh’s first Federal Open Market Committee meeting. Reputations are made up front and ...

STARTRADER has added SPCX CFD (Space Exploration Technologies Corp.) to its trading platform, making the instrument available on MT5 from 15 June 2026 and on the STARTRADER App from 18 June 2026. The listing comes just three days after SpaceX’s Nasdaq debut on 12 June, one of the fastest turnarounds in the broker’s instrument launch history. SpaceX’s IPO ...