“Large and important companies like AstraZeneca are seeking a valuation uplift from exposure to a wider investor base and they will get that from moving to a US listing,” BRI’s Meadows told CNBC via email on Wednesday. Earlier this year, reports emerged that Chinese fast fashion giant Shein was looking to list in Hong Kong instead of London, when it goes public. Last week, news agency Reuters reported that the company was planning to file confidentially for a Hong Kong IPO. The situation was exacerbated by the suspension of major stocks such as Iran Khodro and Saipa, which was a last-ditch attempt to prevent even steeper declines in the main index. During this period, only fixed-income funds were partially reopened, allowing investors to access immediate liquidity for essential needs. While this move was considered a rational step to alleviate short-term financial pressures, it was ultimately a stopgap measure that did not address the underlying risks or restore confidence.
Latest On Dow Jones Industrial Average
Now, it’s readying for the nation’s reconstruction once Russia’s war on Ukraine is ultimately over. Senate Republicans were still at odds Monday over how much to cut Medicaid and other social safety-net programs and how rapidly to end Biden-era clean energy tax breaks as Democrats gained the chance to force votes on amendments to the package. Tweaks to the European Central Bank’s strategy unveiled Monday will allow policymakers to deliver more nuanced communication in an increasingly unpredictable world, President Christine Lagarde said.
Chilean state mining company Codelco is on track to finalise a landmark deal with lithium supplier SQM well before the next government takes office next year, a company official said Monday. The company currently powers most of its AI features with homegrown technology that it calls Apple Foundation Models, and had been planning a new version of its voice assistant that runs on that technology for 2026. President Donald Trump threatened to impose a fresh tariff level on Japan, while his top economic adviser said the White House aims to finalise deals with partners after the July 4 holiday. Starbucks is bulking up staffing as Niccol pushes to revive sales in part by speeding up service. It’s a reversal of past years, where the coffee chain cut the average number of store workers.
Business Briefing
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Market watchers were closely following Senate negotiations over Trump’s proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation. The Congressional Budget Office estimated it would add $3.3 trillion to the deficit over a decade, as it stands. The Foreign Ministry in Moscow accused Azerbaijan of “unfriendly actions” after staff at Sputnik Azerbaijan were detained, the Tass news service reported Monday. The Organization of the Petroleum Exporting Countries and its allies have been reviving halted output at triple the initially-scheduled rate during the past three months, despite faltering fuel demand and signs of global oversupply.
Market analysts and investors widely condemned the regime’s passive approach, arguing that a combination of tighter price bands, robust liquidity support, and clear communication could have cushioned the blow and restored some measure of confidence. The North Koreans used stolen identities to gain employment with roughly 100 American companies, according to the Justice Department. They were helped by people in the US, China, the United Arab Emirates and Taiwan, according to the court records. Under the deal, SQM would relinquish a majority stake in its prized Atacama assets to Codelco in exchange for three more decades of operations.
Latest job openings data shows ‘little sign’ of labor market weakness
- The British pound-denominated 25-year note drew £1.7 billion of demand with the spread tightened to 120 basis points over UK gilts from around 140 basis points over at initial price thoughts.
- Trump’s latest round of brinkmanship with Tokyo on Monday comes just over a week before a July 9 deadline for higher tariffs to restart for dozens of trading partners, including Japan.
- Wang, whom Zuckerberg called the “most impressive founder of his generation,” will serve as chief AI officer.
- Ric Edelman recommends that investors allocate more of their portfolios to crypto, citing the need for investments to generate returns for longer periods.
The major stock indexes are on track for their second consecutive month of strong gains. Shares of Hewlett Packard Enterprise soared 14% to lead early S&P 500 gainers Monday but remain in the red for the year. Shares of Hewlett Packard Enterprise (HPE) and Juniper Networks (JNPR) jumped Monday after the two tech firms and the Department of Justice (DOJ) announced they had reached a deal to allow HPE’s $14 billion purchase of Juniper to go through. In a note to clients, Bank of America pointed out that the results were better than most investors expected, adding that Goldman Sachs had the biggest year-over-year improvement. Fed Vice Chair for Supervision Michelle Bowman noted that large banks “remain well capitalized and resilient to a range of severe outcomes.”
Powell: Fed likely would have cut rates more if not for tariffs
The 12-day war between Iran’s regime and Israel has left the Tehran Stock Exchange reeling. A nine-day shutdown, followed by a chaotic and unsupported reopening, triggered one of the worst sell-offs in the market’s history. The regime’s failure to manage the fallout has shattered investor confidence and left the market in a state of prolonged distress. Without such measures, the risk is that the crisis will deepen, eroding what little trust remains in Iran’s capital markets and further damaging the broader economy.
Investing News NetworkYour trusted source for investing success
The S&P 500’s 24% surge from the brink of a bear market put the benchmark on pace for its best quarter since December 2023. While gains were mild on Monday, optimism that the US is close to reaching deals with top trading partners sent the gauge near 6,200. The Treasury market added to its best performance since February on the last day of June, with yields near the lowest levels of the past month and Thursday’s jobs report as a potential catalyst for further gains. Trump’s latest round of brinkmanship with Tokyo on Monday comes just over a week before a July 9 deadline for higher tariffs to restart for dozens of trading partners, including Japan. Another looming deadline has prompted the US to scale back Trump’s push for full-blown “reciprocal” deals with trading partners, the Financial Times reported. Instead, officials are racing to find narrower agreements before July 9, when the president’s sweeping “reciprocal” tariffs are set to resume.
Lack of Support and Policy Missteps
- Sign up for CNN Business’ nightly newsletter for the top stories you need to know.
- The Nasdaq Composite is up 6.1% in June, adding to the previous month’s 9.6% gain.
- The iPhone maker is accused of violating antitrust laws by blocking rivals from accessing hardware and software features on its popular devices.
Soriot’s frustrations with the U.K.’s regulatory environment — particularly rules around new medicine approvals and drug pricing systems — are said to be driving the move. Pressure is piling on London’s stock exchange, with reports that British pharma giant AstraZeneca may move its listing to the U.S. delivering yet another blow this week. This sell-off was so severe that it drew comparisons to financial markets in countries at war or facing acute economic crisis, rather than a market simply emerging from a brief period of conflict. ADP data showed US private employers unexpectedly cut 33,000 jobs in the month, badly missing expectations of around 98,000 jobs added. The benchmark S&P 500 and Nasdaq moved firmly higher Wednesday after President Trump announced dowmarkets a trade deal with Vietnam, lifting investor hopes that more agreements will come before the July 9 tariff pause deadline.
The easing in odds of a global trade war comes as a July 9 deadline looms for the resumption of sweeping US “reciprocal” tariffs, which Trump on Sunday said he didn’t think he’d need to extend. So far, his administration has hammered out only two accords — not full-blown agreements — with China and the UK, with the British tariff deal going into effect on Monday. US stocks climbed to fresh records on Monday amid signs of progress in trade talks, ending one of the most volatile first halves of a year in recent memory. TenneT has been preparing the German business for an initial public offering or private stake sales and has held discussions with potential investors, according to a letter sent by Dutch Finance Minister Eelco Heinen to the parliament on Monday.
The S&P 500 (SPX) and Nasdaq Composite (IXIC) each rose 0.5%, while the Dow Jones Industrial Average (DJI) added 0.6%. Stocks were coming off a winning week that boosted the benchmark S&P 500 on Friday to its first record high since February, while the tech-heavy Nasdaq Composite hit a new high for the first time since December. AstraZeneca’s potential transatlantic move would add to concerns around London’s weakening status as a global financial hub. A number of companies have delisted from the London market or reconsidered plans to float shares in the city over the past year. CEO Pascal Soriot is considering moving the company’s stock listing from London to the U.S., British newspaper The Times reported on Tuesday afternoon, citing anonymous sources.
Shares of quantum computer maker IonQ (IONQ) jumped Monday after the Texas legislature passed a bill backed by the firm that would set up the state to be a major hub for quantum technology. As of now , the company’s average bitcoin purchase price sits at $70,982 per coin, resulting in over $21 billion in unrealized gains. According to BitcoinTreasuries.net, Strategy is by far the world’s largest publicly traded bitcoin treasury company, with the closest competitor—bitcoin miner MARA Holdings—having a bitcoin stash of roughly a tenth the size of Strategy’s. While the industry was exempted from Trump’s so-called reciprocal tariffs plans when they were unveiled in April, the White House leader has since placed the sector under investigation by the U.S. Commerce Department, warned tariffs on pharma are “coming soon,” and signed an executive order directing medicine manufacturers to lower the price of some drugs in line with costs paid overseas. “I think this should sound the alarm for the UK government that they need to do more both to support the city and our stock market together with our critical industries like life sciences and pharmaceuticals,” he said.
