Gold climbs above $4,300 after US-Iran peace deal, rising more than 2% for third straight session. Agreement expected to reopen Strait of Hormuz and lift US naval blockade; oil drops 4.5% to two-month low.

VW plans up to 100,000 job cuts and weighs further asset sales following €10B marine unit deal, FT reports

Volkswagen plans up to 100,000 job cuts and is weighing further asset sales following a €10 billion marine unit deal, the Financial Times reports.

ECB's Schnabel says further interest rate hikes needed to bring inflation back to 2% target over the medium term

ECB's Schnabel says from today's perspective, interest rates will need to be raised further to bring inflation back to the two percent target over the medium term.

Indonesia weighs scaling back Prabowo's flagship free meals program with another $2B+ budget cut, reducing kitchens and beneficiaries.

Indonesia is preparing to scale back President Prabowo Subianto's flagship free meals program, with officials weighing another budget cut of more than $2 billion along with reductions in kitchens and beneficiaries.

BOJ June meeting opinions show hawkish tone, members say appropriate to continue raising rates as financial conditions stay accommodative and import costs add to inflation pressures.

BOJ June meeting opinions reveal a hawkish tone, with members stating it is appropriate to continue raising interest rates as financial conditions remain accommodative and currency-driven import costs add to inflation pressures.