Since Israel escalated its attacks on Iran on 13 June, the price of jet fuel has rocketed up 45 percent and diesel fuel by volume costs 60 percent more than crude oil, the Argus data service reported.
Tag: Economy
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CANADA’S CENTRAL BANK: TRADE WAR COULD PROMPT JOB LOSSES, RATE CUT
Officials at the Bank of Canada (BoC) are closely tracking job losses in manufacturing and other parts of the economy most exposed to Donald Trump’s 25-percent tariffs.
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CENTRAL BANKS WILL CONTINUE STOCKPILING GOLD
In a new World Gold Council survey, 95 percent of the more than 70 central banks responding said they expect to add to their gold reserves this year and that their dollar reserves will decline over the next five years.
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CHINA’S ECONOMY WEAKENED AGAIN IN MAY
China’s factory production rose 5.8 percent in May from a year earlier, down from 6.1 in April and marking its weakest performance so far in 2025, the National Bureau of Statistics reported.
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SPOTLIGHT: BIGS GETTING BIGGER
Brown & Brown, an insurance company with more than 450 locations around the world, will pay $9.83 billion in cash and stock for Accession Risk Management Group.
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SPECIAL REPORT: TRUMP’S TARIFFS, THE UPS AND DOWNS, FOR BETTER AND FOR WORSE
On 12 June, the U.S. dollar fell to its lowest value since March 2022. The buck lost ground after Donald Trump told reporters he will send letters shortly to trading partners assigning them tariff rates when the 90-day pause on the new “Liberation Day” rates runs out in early July.
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SPECIAL REPORT: ARTIFICIAL INTELLIGENCE EATS THE AD INDUSTRY
As Amazon, Meta, and other tech giants automate advertising using artificial intelligence (AI) tools, advertising agencies wonder if they have a future.
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SPOTLIGHT: DRESSING DOWN AND DRESSING OUT
Inditex, owner of fast-fashion brands Zara, Massimo Dutti, and Bershka, reported sales growth in the most recent quarter of 4.2 percent, compared to 10.5 percent in the period ending 31 January.
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WORLD BANK WILL RESUME FUNDING NUCLEAR ENERGY PROJECTS
The World Bank will “re-enter the nuclear space” and “support efforts to extend the life of reactors in countries that already have them and help support grid upgrades and related infrastructure,” bank president Ajay Banga e-mailed staff on 13 June.
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ECB SAYS LATEST RATE CUT WILL HOLD INFLATION AT THE RIGHT LEVEL
The European Central Bank’s (ECB’s) 5 June quarter-point interest rate cut brings its policy rate to a flat 2 percent. The reduction will ensure that inflation does not slip below the bank’s target rate of 2 percent, ECB chief economist Philip Lane said in a speech at a financial conference last week.