Trending
- Australia Enacts New Disability Scheme Rules Following Friday Vote
- May Economic Data Confirms Canadian Growth of 0.3%, As Second Quarter Gains Accelerate
- On October 2023, Bitcoin Dips to 62957 Amid Widespread Equity Declines
- Oxford International Digital Institute Launches Oxford ELLT Express to Support Time-Sensitive Student Applications
- Robo.ai Appoints Dr. Jasem Al-Mansory as Chief Executive Officer of Its Subsidiary Alif Holding
- By mid-2026, Germany reports nearly 10,000 fatalities linked to heat exposure
- On Wednesday, UK allocates £8.4 billion to Dreadnought submarine program
- As of April 27, the Death Toll from Japan Earthquake Rises Amid Ongoing Search Efforts
Business
The latest official national economic figures released on Friday verify that the Canadian economy expanded by 0.3 per cent in May, marking the continuation of an ongoing recovery for a second month in a row and surpassing earlier government projections. As detailed in monthly Gross Domestic Product statistics published by Statistics Canada, real output saw increases in 13 out of 20 primary industrial sectors, driven by widespread growth in goods-producing industries and sustained demand across the service sector. The actual monthly growth exceeded the initial preliminary estimate of 0.1 per cent, boosting the momentum of the national economy after April’s revised growth rate of 0.6 per cent.
A wave of risk aversion swept through global financial markets, driving digital assets lower as Bitcoin breached the $63,000 mark. Data from cryptocurrency exchange Binance indicates that the leading token by market capitalization fell 3.02% over 24 hours to reach $62,957.83. This latest drop extends a multi-session sell-off fueled by volatility in tech equities, macroeconomic headwinds, and recalibrated monetary policy expectations. Furthermore, Bloomberg market data reveals that tightening spot trading volumes coincided with a rapid acceleration in long liquidations across derivative trading venues.
The UK government announced on Wednesday a funding commitment of £8.4 billion ($11.2 billion) aimed at advancing its Dreadnought-class nuclear submarine project, ensuring sustained investment in the nation’s continuous at-sea nuclear deterrent. An official statement from the Prime Minister’s Office confirmed that this financial package will speed up the construction process for four next-generation submarines while safeguarding thousands of skilled technical jobs and apprenticeships over the next ten years.
Gold prices recovered from a two-week low after a 3% selloff linked to rising oil, inflation pressure and stronger rate hike bets.
Brent crude climbed above $79 while WTI passed $74 as fresh US-Iran attacks coincided with reduced shipping through the Strait of Hormuz.
Burjeel Holdings lists its debut $500 million sukuk in London after a $1.6 billion orderbook, marking its first public debt market issue.
China’s temporary helium export ban took effect immediately, covering customs code 2804290010 with no expiry date announced on July 10.
Apple said the Broadcom agreement will support hundreds of U.S. jobs and more than 15 billion chips made in America across U.S. supply chains.
ILO says generative AI could affect nearly 80 million ASEAN workers, with exposure broad but major job disruption not yet evident.
