Moscow says Putin received Washington’s proposals with understanding as US, Ukrainian and European officials meet in Miami to explore a way out of the deadlock.

Anthropic said in its IPO prospectus that 2025 revenue rose 12-fold to nearly $4.6 billion, while net loss totaled $42 billion and operating loss exceeded $8 billion. The filing also shows the company plans to take on $518 billion in cloud, computing and infrastructure obligations in the coming years. Anthropic’s IPO valuation could top $2 trillion.

Russia has been hit by large-scale Ukrainian drone attacks that severely damaged key refineries, triggering fuel shortages and rationing across multiple regions. In mid-June, gasoline output was down 25% year on year and diesel output fell 15%, while the national average gasoline price rose to 71.20 rubles per litre in the last week of June, marking the biggest one-week increase in 20 years. Jet fuel supplies also tightened, with prices at some airports jumping 64%. The disruption represents a supply shock to refining that has directly squeezed the domestic fuel market and, in turn, reinforced demand for crude processing and export premia.

Spot gold has fallen below $4,000 an ounce, its lowest level since November 2025, and is down nearly 29% from its January peak of $5,594.82. The drop is being attributed to five factors: a more hawkish Federal Reserve, a stronger US dollar, easing geopolitical risks, rising real yields and technical selling pressure. The move reflects a fast adjustment as the market’s dominant narrative shifts, rather than routine volatility.

Cloud and AI expert David Linthicum warns that Microsoft, Meta and Google have collectively committed more than $220 billion to AI data-centre infrastructure in 2025, even as enterprise adoption remains slow and services stay expensive. He argues current demand is nowhere near sufficient to justify that scale of capital spending. Linthicum also cites IBM CEO Arvind Krishna’s view that the economics “don’t add up”, estimating that industry ambitions could imply investments approaching $8 trillion while profits needed just to service the costs would require about $800 billion. The critique raises fresh questions about the durability of returns behind the buildout.

U.S. Trade Representative Jamieson Greer will visit India on June 23–24 for ministerial-level talks aimed at finalizing the first phase of an interim trade deal and advancing a broader Bilateral Trade Agreement. Both sides are working toward signing the initial phase by mid-July, with India seeking tariff cuts on certain exports while offering to lower duties on U.S. industrial goods and key farm products such as tree nuts, fruit, wine and sorghum. Negotiators are moving under pressure from a July 24 deadline tied to the U.S. administration’s 10 per cent blanket tariff period, while talks also run alongside a USTR Section 301 probe linked to forced-labour concerns.

A proposed memorandum of understanding between the United States and Iran could allow Tehran to restart large-scale oil and fuel exports and potentially earn more than $60 billion annually. Several Iranian oil tankers have already departed ports and crossed what was described as a US naval blockade line this week, signalling early signs of renewed export activity. The prospect has lifted expectations for higher global crude supply, though neither Washington nor Tehran has confirmed the reported terms or revenue estimates.

Iran and the United States reached an interim ceasefire under which Washington lifted its naval blockade of Iranian ports, enabling Tehran to restart large-scale crude exports. In recent days, Iran has shipped about 18 million barrels worth roughly $1.44 billion, with most cargoes loaded from Kharg Island. The rebound adds to global oil supply and could increase downward pressure on crude prices.

Reliance Industries said at its AGM 2026 that it is accelerating its energy transition, centring on India-based renewables, green ammonia and an AI-driven autonomous refinery. The company said the goal is to help cut India’s reliance on imported energy, which currently accounts for nearly 70% of national needs. The plan is framed as a long-term push to reduce oil dependence even as India’s energy demand continues to rise rapidly and import reliance remains high.