A government finance ministry or a place to keep treasure; leaders include the treasurer.
California lawmakers have advanced a $356 billion budget plan, negotiating with Gov. Gavin Newsom. The package includes taxes on health-care providers and software, plus potential costs to private health plans. Democrats defend the measures as strengthening finances amid federal revenue losses; Republicans warn of higher costs for hospitals, businesses, and families.
Tanzania has unveiled its 2026/27 budget and national development plan, highlighting 38 flagship projects across seven transformational programs. The plan aims to push inclusive growth, with private sector investment and human capital development at the fore. Infrastructure, irrigation, energy, and digital transformation feature prominently, while costs for the year are set against a challenging fiscal backdrop.
Cash remains a popular parking option for investors, but analysts warn that postponing longer-term bets carries inflation and rate risks. The debate centers on whether chasing higher yields on the 5-year curve or holding shorter cash positions will outperform as inflation cools and rates move.
Andy Burnham has outlined a plan to devolve power away from Whitehall, establishing a No 10 North unit in Manchester to oversee regional reform, housing, transport and economic policy. He has positioned himself as the voice for English regions and signalled potential changes to where key decisions are made.
Gold and silver have paused their retreat as hawkish central-bank signals and inflation fears weigh on the metals. Oil prices stay subdued, and markets eye key U.S. data on jobs and inflation to gauge the path of monetary policy. Yields on U.S. Treasuries have moved little on the final trading day of June. This update covers developments through July 1, 2026.
Andy Burnham has secured overwhelming MP backing and appears poised to become Labour's leader and prime minister, with nominations advancing and a potential coronation by mid-July. Al Carns has ruled himself out, leaving Burnham as the sole declared candidate as nominations continue and a parliamentary hustings looms.
Ofcom has fined Virgin Media £28 million after findings that millions of calls were mishandled between 2022 and 2024, delaying or blocking contract cancellations and encouraging staff to retain customers via incentives. The regulator says customers faced hold times, transfers, and deliberate call-dropping, impacting switching to rivals. Virgin Media has overhauled its customer services and will compensate affected customers.
Treasury Secretary has unveiled a commemorative $1 coin bearing President Trump’s likeness for America’s 250th anniversary. The coin features a gold finish and a forward-facing Trump, prompting questions about living-person portraits on currency. Legal review and congressional oversight are centered on whether the design complies with federal law and existing coinage rules. The coin will be minted in Philadelphia this fall.
Andy Burnham has been installed as prime minister and has promised immediate measures to give households "breathing room" on the cost of living. He has begun selecting a cabinet, signalled support for new North Sea drilling, and faces immediate fiscal and defence funding gaps that his first autumn Budget must fill.
Former MP Ann Widdecombe has been killed in a targeted attack on her Dartmoor home. A 28-year-old man is in custody as counter-terrorism police look into possible left-wing extremist motivation. The National Protective Security Authority has published guidance on safe rooms for high-risk figures, published online before Widdecombe’s death.
The government has appointed a new Chancellor, Healey, while Prime Minister Burnham is moving to keep within fiscal rules. Analysts expect defence spending to rise and tax and welfare reforms to be debated as markets react to the new leadership. The government is balancing investment with debt concerns amid a tight public finances picture.
The US Treasury and Japan's finance ministry have conducted a coordinated yen-buying intervention to halt the currency's slide to four-decade lows. Tokyo has bought large sums of dollars to support the yen and Washington has participated, reportedly selling euros rather than dollars to fund its purchases. Officials say they will act again if needed.
The Strait of Hormuz is at the center of renewed U.S.-Iran diplomacy. Officials say talks have progressed toward reopening the strait, which could restore freedom of movement for ships and ease energy prices. Markets have already reacted as oil benchmarks slip on the prospect of a breakthrough.