Cover Story
Issue 01Vessel traffic through the Strait of Hormuz remained near pre-conflict levels, with 67 ships passing in the past 24 hours, according to AP. Reports said more than 17 million barrels of oil moved through the waterway over the weekend, while Iranian crude exports rose as tanker transits continued.
Brent oil posted an unusually sharp one-day drop of 4.8% to $84.36 on June 15, 2026, falling from $88.64 just three days earlier.
The 2-year U.S. Treasury yield hit a 12-month high of 4.20% on June 17, 2026, rising from 4.19% in February 2025.
Alliance governance arrangements between Renault and Nissan require Renault to avoid using its shareholding to influence Nissan board appointments in certain cases. Under the current alliance structure, Nissan shares held by a French trust are voted neutrally, and the trust must abstain on shareholder proposals that Nissan’s board does not support.
The Bank of England published the assumptions and mechanics for its private markets exploratory scenario, a five-year hypothetical stress exercise covering private credit and related markets. The framework models a severe global supply shock and recession, with higher rates, wider credit spreads, weaker refinancing conditions, equity declines, redemption pressure and rising corporate defaults.
Ireland said it aims to secure an EU agreement on the capital markets package by the end of 2026 during its rotating presidency, while maintaining that expanded centralized supervision by ESMA is not necessary. The package is part of the EU Savings and Investments Union and includes market integration and supervision reforms proposed by the European Commission.
Shipping companies remained cautious over the Strait of Hormuz despite a ceasefire, as oil tankers and merchant vessels continued transiting while Iran and the United States gave conflicting accounts of passage conditions. Traffic has improved from wartime lows, but route restrictions, security alerts and port congestion remain unresolved.
Vessel traffic through the Strait of Hormuz remained near pre-conflict levels, with 67 ships passing in the past 24 hours, according to AP. Reports said more than 17 million barrels of oil moved through the waterway over the weekend, while Iranian crude exports rose as tanker transits continued.
Cuba has approved an emergency package of 176 economic measures across 23 sectors that expands scope for private enterprise, allows foreign companies to invest directly in the private sector, reduces most price controls, and gives municipalities and state firms greater authority to partner with private businesses and cooperatives.
Labour politician Andy Burnham won the Makerfield by-election in northwest England with nearly 55% of 45,510 votes cast, finishing more than 9,000 votes ahead of Reform UK candidate Rob Kenyon. The result returns Burnham to Parliament after nearly a decade and follows his tenure as mayor of Greater Manchester.
Oil prices declined after the United States and Iran signed an agreement described by AP and Axios as ending the conflict, waiving U.S.-backed sanctions and calling for the Strait of Hormuz to reopen. Traders assessed the prospect of increased Iranian crude exports and reduced disruption to regional supply flows.
CME Group said Terry Duffy will step down as chief executive and become executive chairman on March 1, 2027, with President and CFO Lynne Fitzpatrick appointed CEO. The board approved the transition on June 16, 2026, and the company said it will begin a search for a new chief financial officer.
Medallia said it reached a recapitalization agreement with lenders that will reduce outstanding debt and provide $150 million in new capital. Reports said a creditor group led by Blackstone, with Apollo and FS KKR, is assuming ownership, replacing Thoma Bravo following its 2021 buyout of the software company.
The UK Supreme Court dismissed appeals in a case involving Alex Gerko and other traders, leaving in place a ruling that amounts received under the CAP are taxable as income under section 687 ITTOIA. The dispute covered traders’ shares of profits earned between 2010 and 2015.
The Trump administration said it will reimburse Invenergy $765 million under a settlement to terminate four offshore wind leases. The projects include Leading Light Wind, planned for up to 2.4 gigawatts, and other lease areas located off the coasts of Maine and California, according to disclosed statements.
G7 leaders said they will coordinate efforts to reduce dependence on a single external supplier of critical minerals, including support for mining, processing and recycling projects, harmonized traceability pilots for lithium and nickel, expanded stockpiling, and an IEA-backed mechanism to share data and early warnings on market stress.
A report says US intelligence agencies recently assessed that Iran can effectively stop access through the Strait of Hormuz. Separate disclosed accounts said a tentative US-Iran arrangement under discussion would reopen the waterway, though details had not been made public at the time of the reports.
