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UK services firms see first drop in activity since 2025 as Iran war pressure persists

UK services firms see first drop in activity since 2025 as Iran war pressure persists

LONDON, June 3 (Reuters) - British services firms buckled in May as the strains of the Iran war pushed up their costs and hit optimism, a survey showed on Wednesday.  
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UK construction activity shrinks at fastest pace since 2020, PMI shows

UK construction activity shrinks at fastest pace since 2020, PMI shows

LONDON, June 4 (Reuters) - Activity in Britain's construction sector slowed at the sharpest pace in six years last month as economic uncertainty and rising inflation triggered by the Iran war led to a steep fall in new work, a survey showed on Thursday.  
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US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February

US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February

The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historically low despite ongoing economic uncertainty brought on by the war in Iran
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Boston Fed paper says Fed can concentrate on inflation risks amid energy shock

Boston Fed paper says Fed can concentrate on inflation risks amid energy shock

By Michael S. Derby NEW YORK, June 4 (Reuters) - A change in how Americans use energy should allow the Federal Reserve to focus monetary policy decisions on the inflationary impact of the Middle East war oil price shock, new research from the Federal Reserve Bank of Boston says.
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Coca-Cola CFO flags uneven demand, warns of Middle East risks into 2027

Coca-Cola CFO flags uneven demand, warns of Middle East risks into 2027

June 4 (Reuters) - Coca‑Cola is adjusting ways to keep its drinks both affordable and appealing as consumer demand remains uneven across income groups, CFO John Murphy said at an industry conference on Thursday.
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US service sector growth picks up in May; businesses face higher prices for inputs

US service sector growth picks up in May; businesses face higher prices for inputs

WASHINGTON, June 3 (Reuters) - U.S. services sector activity picked up in May as businesses preemptively placed orders and rebuilt inventories in anticipation of shortages and higher prices because of the war with Iran. 
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US weekly jobless claims increase more than expected; labor market remains stable

US weekly jobless claims increase more than expected; labor market remains stable

WASHINGTON, June 4 (Reuters) - The number of Americans filing claims for unemployment benefits increased more than expected last week, but the underlying trend remained consistent with a stable labor market.
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Explainer-How Trump's ceasefires are failing to stop Middle East violence

Explainer-How Trump's ceasefires are failing to stop Middle East violence

June 4 - Residents of Gaza, south Lebanon, northern Israel and Kuwait were all under fire this week despite U.S.-arranged ceasefires supposedly in force in their regions.  Israeli airstrikes hit Gaza and Lebanon, with Israeli forces still actively deployed in both places.
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Morning Bid: Summer clouds

Morning Bid: Summer clouds

By Mike Dolan June 4 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets The S&P 500 failed to clock its 10th straight daily gain on Wednesday and there are some clouds gathering in markets.
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How Pakistan became Trump’s most surprising ally

How Pakistan became Trump’s most surprising ally

Pakistan’s surprising role in the Iran war, explained.
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UK budget watchdog will factor stickier inflation into next forecasts

UK budget watchdog will factor stickier inflation into next forecasts

By David Milliken LONDON, June 2 (Reuters) - Britain's budget watchdog said on Tuesday it will factor in the unexpectedly strong persistence of inflation after the 2022 energy price shock when it updates its forecasts later this year in the wake of the Iran war.
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Bank of England's Bailey says public must be given confidence in 2% inflation target

Bank of England's Bailey says public must be given confidence in 2% inflation target

By David Milliken and Suban Abdulla LONDON, June 2 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday it was important to get UK inflation back to target and give households confidence about the central bank's ability to do so.