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July WTI crude oil (CLN26) on Friday closed down -1.54 (-1.73%), and July RBOB gasoline (RBN26) closed down -0.0665 (-2.14%).  Crude oil and gasoline prices retreated on Friday, with crude oil falling to a 5-week low.  Crude prices are under pressure after the US and Iran tentatively agreed to extend a ceasefire by 60 days, fueling optimism that the Strait of Hormuz may reopen soon.  The markets are awaiting President Trump’s approval of a preliminary deal between the US and Iran to extend a ceasefire by 60 days and reopen the Strait of Hormuz.  President Trump said Friday he’s making…

The wealth of Australia’s billionaires increased by $25.67bn in the past year, equivalent to almost $50,000 a minute, according to new Oxfam Australia analysis of the 2026 Australian Financial Review Rich List.The anti-poverty organisation said the total wealth of Australian billionaires in 2026 has reached more than $686bn, while Acoss figures show 3,706,000 people live in poverty, including 757,000 children under 15 years.One in three households experienced food insecurity last year, meaning they stressed about or struggled to put food on the table.Australia now has its highest number of billionaires on record, at 178, up 17 from last year.A large…

Former CEO of Barclays, Jes Staley, arrives at the High Court in London, United Kingdom, on March 14, 2025. Staley is challenging his ban from the UK finance sector over his ties to Jeffrey Epstein.Tayfun Salci | Anadolu | Getty ImagesJes Staley, the former JPMorgan Chase executive and ex-Barclays CEO, has agreed to be interviewed on about his relationship with notorious sex offender Jeffrey Epstein on July 23 by the House Oversight and Government Reform Committee, a spokesman for the panel confirmed Sunday.The Financial Times first reported that Staley accepted the invitation for a voluntary transcribed interview extended to him…

Less than four years after the collapse of FTX triggered calls for a sweeping crackdown, the crypto industry has emerged as one of the fastest-growing forces in American politics. It is spending millions across both parties, reshaping key elections, and transforming itself from a regulatory target into a powerful new political machine.In 2022, Washington’s dominant question about the crypto industry had little to do with the fine print of securities law. After FTX triggered a wave of congressional fury and handed Gary Gensler’s SEC a permission slip to pursue enforcement actions at scale, lawmakers on both sides of the political…

HBO’s ‘House of the Dragon,’ Hulu’s ‘The Bear’ and Apple’s ‘Cape Fear’ will try to compete with the World Cup

President Donald Trump said he’s making a “final determination” on a preliminary deal to extend a ceasefire with Iran although mixed messages from both sides over when an agreement might be struck continued to confuse the outlook for a breakthrough. Bloomberg News White House Correspondent Jeff Mason and Bloomberg Economics Lead Economic Statecraft, Lead Chris Kennedy joined David Gura and Christina Ruffini on Bloomberg This Weekend to discuss. (Source: Bloomberg)

While tech is still leading the party, more parts of the market are starting to join in.

May 2026 Alternative Scenarios at the Federal Reserve from 1968 to 2020: Data, Interpretation, and Evaluation Edward Herbst, Scott Konzem, and Cristina Scofield Abstract: We comprehensively document 1,265 Federal Reserve staff alternative scenarios presented to the Federal Open Market Committee in publicly released materials from 1968 to 2020. Scenarios grew in frequency and sophistication, typically spanning a range of outcomes around the baseline. We construct a taxonomy with six categories: aggregate demand, aggregate supply, external risks, financial conditions, fiscal policy, and expectation shifts. Staff qualitative risk assessments complemented the scenario composition. Comparing scenario forecasts to realized outcomes, the…

With its comfy sofas and a menu of gourmet treats including Béarnaise smash burgers and trendy Whispering Angel rosé wine at £47 a bottle, Everyman has thrived as the go-to chain for a luxury cinema trip.Yet a quarter of a century after reinventing the movie-going experience, growing from a single venue in Hampstead in London to a national player with 49 sites, the arthouse chain finds itself struggling as rivals ape its successful formula.Everyman issued a profit warning in early December, prompting rattled investors to wipe almost a fifth off its market value, and days later the company’s finance director…