Official currency of the eurozone; global reserve and trade anchor
Icelanders have voted to reject reopening accession negotiations with the European Union, with official counts showing about 52.8% against and 47.2% in favour. Turnout has exceeded 82%. The result ends the government's push, centres the fishing sector's sovereignty concerns, and will force the coalition to shift priorities.
Barclays is exploring a return to Japan’s cash equities market, hiring in Tokyo amid a rebound in Japanese stocks driven by governance reforms, rising profitability, and AI-driven market optimism. Barclays previously pulled back in 2016 but is now considering expanding its Japan presence, potentially pitting it against Goldman Sachs, JPMorgan, Morgan Stanley, Nomura and Daiwa.
The yen has weakened to multi-decade lows as US rates remain higher than Japan's. Intervention is being considered, but the long-running carry trade and energy costs keep downward pressure on the currency. Markets are watching potential official action and the broader implications for Japan's economy and global markets.
Marine Le Pen faces a key appeal ruling over a 2025 EU funds embezzlement conviction and a five-year ban on holding public office. The outcome could restore her bid, trim the ban, or keep her from running, reshaping the National Rally’s path to the presidency in 2027.
Stocks waver as Walmart’s earnings miss dulls confidence; higher oil prices and rising yields weigh on sentiment. Treasuries signal caution as investors assess consumer resilience amid inflationary pressure.
A quartet of articles confirm that Parmigiano Reggiano wheels stored in climate-controlled facilities remain safe despite record heat in Italy. Banks storing hundreds of thousands of wheels report higher cooling costs but no disruption to aging or collateral. Producers expect no long-term risk to output.
U.S. markets edge lower after several sessions of gains as investors await the PCE inflation update. The latest data show persistent inflation and higher government borrowing costs, with bond yields climbing and stock indices uneven.
Voters in Iceland are weighing whether to resume accession negotiations with the EU. The referendum, prompted by geopolitical tensions and domestic economic concerns, is not a final decision on membership. A yes would kickstart talks; a no would pause proceedings. Results are emerging as ballots are tallied.
Voters in Iceland have given a razor-thin result on whether to resume EU membership talks. The vote does not decide membership but could restart negotiations, with a second referendum on eventual accession likely if talks proceed. The outcome hinges on inflation, interest rates, fishing rights and sovereignty.