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Europe
The Guardian

US student debt repayment system is being overhauled – here’s what to know

Northeastern students at graduation at the TD Garden in Boston. Photograph: Suzanne Kreiter/Boston Globe via Getty ImagesView image in fullscreenNortheastern students at graduation at the TD Garden in Boston. Photograph: Suzanne Kreiter/Boston Globe via Getty ImagesBusinessExplainerUS student debt repayment system is being overhauled – here’s what to knowBorrowers face stricter payment timelines after Biden-era Save repayment plan was ended by Donald Trump The American student loan repayment system is set to undergo a significant overhaul next month, changing the way millions of borrowers pay off their debt. The series of changes, which take effect 1 July, are a result of the Trump administration’s One Big Beautiful Bill Act that was signed last summer and a recent court ruling that ordered the end of the Biden-era Save repayment plan. Borrowers will be facing stricter payment timelines and less forgiveness, what will be the latest in a series of massive changes to the student loan system in just a few years. “This is impacting, in my opinion, every single student loan borrower in one way or another – even if you don’t have to make a change in your loans, just the confusion alone,” said Natalia Abrams, the president of the Student Debt Crisis Center. “I’ve worked in this space for more than 15 years, and I’ve never seen it this bad, and I’ve never seen it change this much, this frequently.” Here’s a rundown of how the repayment system is changing and how it is affecting students. More than 7 million Americans are enrolled in the Save plan, an income-based repayment plan launched in 2023 by the Biden administration. The program was created with the goal of drastically reducing undergraduate loans, eliminating monthly payments for some, and offering early forgiveness for borrowers with low-balances. After a federal appeals court ruling in March, the Save plan will be official dismantled 1 July. The ruling came after Republican attorneys general across the country challenged the plan, putting monthly repayments on hold for years. On 1 July, monthly repayments will start again and Save borrowers will soon have to apply for a different payment plan. Once the Save plan officially ends, borrowers will have 90 days tochoose a different repayment plan. Borrowers with loans issued before 1 July 2026 – and who do not plan to take out more loans – will retain access to several existing income-driven payment and fixed-income plans. Compared to plans offered under the Biden administration, these plans push borrowers to pay back their loans more quickly and include less forgiveness options.

US student debt repayment system is being overhauled – here’s what to know
India
The Hindu BusinessLine

Sensex today | Stock Market Live: Sensex, Nifty open higher as lower crude prices boost market sentiment

Stock market crash and escape. Stocks market index to change direction. Investment growth. Businessman pulls up the red arrow graph. | Photo Credit: Yellow Man Sensex Today, Nifty 50 | Stock Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16th June 2026. Indian stock markets opened higher on Tuesday, extending a two-session rally as optimism over a preliminary US-Iran peace agreement pushed crude oil prices lower and improved investor sentiment. The benchmark indices started the session in positive territory, with the Sensex rising 296 points to 76,560.37, while the Nifty advanced 75 points to 23,929.55. The fall in oil prices is positive for India, one of the world’s largest crude importers, as it could ease inflation pressures, support the rupee and improve the trade deficit. The Nifty 50 has recovered after facing pressure from elevated oil prices and foreign outflows since the Iran conflict began. Recent RBI measures and renewed foreign investor buying have also improved market sentiment. Analysts said easing geopolitical risks and moderation in selling pressure could support the ongoing market recovery. Sensex gained 253.56 pts or 0.33% to trade at 76,517.89 at 9.16 am after opening at 76,526.77 from the previous close of 76,264.33. TCS on DXC Tech litigation: United States Supreme Court has denied petition for a writ of certiorari to review the judgment of the United States Court of Appeals for the Fifth Circuit on June 15, 2026. The Company has already provided USD150 million in relation to this matter in the books of accounts in accordance with applicable accounting standards and will make necessary provision now for the incremental amount of USD70 million towards damages, interest and legal cost, as a one-time exceptional expense, in Q1 FY2027. While investor attention remains focused on the Nifty 50 and Nifty 500, the Nifty500 Multicap 50:25:25 TRI has quietly emerged as a standout performer, delivering superior returns with lower drawdowns. This analysis highlights how this underappreciated benchmark has outperformed major indices during recent market volatility and shows how the category has attracted steady inflows through funds such as the Bajaj Finserv Multicap Fund, despite being overshadowed by trendier equity categories. Arvind SmartSpaces adds new horizontal development project in Metal, South Ahmedabad with a top-line potential of ~Rs. 180 crore. Mini Diamonds (India) has secured a significant domestic order of Rs 16.25 Crore from a Mumbai based client for supply of cut and polished natural diamonds.

Sensex today | Stock Market Live: Sensex, Nifty open higher as lower crude prices boost market sentiment
India
The Hindu BusinessLine

US oil reserve hits 43-year low as emergency releases continue during Iran conflict

The US Strategic Petroleum Reserve (SPR) has fallen to its lowest level since 1983 after the Trump administration continued releasing emergency oil supplies to limit the economic impact of the Iran conflict. | Photo Credit: RICHARD CARSON The US Strategic Petroleum Reserve tumbled last week to its lowest level since 1983 as the Trump administration continues to deploy emergency oil to minimize economic damage from the war with Iran. Citing federal data released on Monday, a CNN news report highlighted that US officials released another 8.9 million barrels from the emergency stockpile last week alone. The news report mentioned that the Strategic Petroleum Reserve (SPR) held 340.3 million barrels of crude oil as of June 12, 2026, dropping below the prior historic low set in July 2023 under President Joe Biden following Russia’s invasion of Ukraine. The last time the reserve held less oil than its current level was July 1983, a period when the 40th US President, Ronald Reagan administration was still filling the reserve for the first time, and the United States operated a significantly smaller economy. The SPR has emerged as a key tool Trump officials use to mitigate the harm of high energy prices to consumers, businesses, and the wider economy. Back-to-back global conflicts wiped out a large chunk of the stockpile, which is down 75 million barrels, or 18 per cent, since the war with Iran started in late February. At current levels, the emergency reserve stands at a little less than half full. “The Strategic Petroleum Reserve releases, combined with releases by other governments and China reducing its exports, have prevented the Armageddon scenario of $150 oil from happening to date,” the news report quoted Andy Lipow, president of Lipow Oil Associates. “If we were to get a major hurricane in the Gulf of Mexico that shuts production down for several weeks, that buffer would no longer be there,” Lipow said. Lipow added that SPR releases may have to slow once the Trump administration finishes releasing the 172 million barrels it pledged to deploy back in March. The rapid drawdown also marks a political shift. When launching his third run for the White House in 2022, President Donald Trump criticized Biden for draining the reserve ahead of that year’s midterm elections. However, Trump officials are now draining the SPR at a faster pace ahead of this year’s midterms. Production officials warned that the stockpile faces operational limits if the current trajectory continues. “The SPR must be at least 20% full to be operational,” warned Mike Sommers, CEO of the American Petroleum Reserve, during an interview last week on CNN’s The Lead. “We’re raising alarm bells right now.” The emergency oil released since the conflict with Iran began will require replacement over time. However, the report mentioned that this replenishment will not occur in time for the peak of the hurricane season, leaving the domestic energy supply vulnerable to immediate weather disruptions.

US oil reserve hits 43-year low as emergency releases continue during Iran conflict
Europe
The Guardian

Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough

Oil prices fell after the announcement of a US-Iran peace deal, amid hopes the strait of Hormuz would soon reopen to commercial shipping. Photograph: AFP/Getty ImagesView image in fullscreenOil prices fell after the announcement of a US-Iran peace deal, amid hopes the strait of Hormuz would soon reopen to commercial shipping. Photograph: AFP/Getty ImagesOilOil prices hit three-month low and markets reach record high amid Iran deal breakthroughDonald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crude Global oil prices have tumbled to a three-month low and stock markets closed at a record high amid fresh hopes that a US-Iran peace deal could end the greatest energy supply crisis in the history of the market. The price of Brent crude dropped about 4% to about $83 (£62) on Monday amid optimism that the strait of Hormuz could reopen shortly and bring a return of Gulf oil exports to the market. Wholesale gas prices fell 6% in Europe. Stock markets on Wall Street rallied, with the Dow rising by about 1% at market close, hitting a record high as investors welcomed the news that Washington and Tehran had reached the preliminary agreement. The Russell 2000 index of small US companies also hit a new high, rising about 0.8%. Donald Trump said on Sunday that a deal was “now complete”, despite recent Israeli airstrikes on Beirut that had threatened to undermine the sensitive talks. The US president wrote on social media: “I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” An hour later he clarified that the strait would open after the peace deal was signed on Friday and “for purposes of mine removal, oil will flow on both ends again for the Region, and the World!” Many of the details of the agreement are unclear, notably around the exact timing of the reopening of the maritime route, who will oversee safe passage and whether any conditions will be applied. Iranian authorities have said there would be a 60-day negotiating period for a final deal tackling wider issues such as Tehran’s nuclear programme and sanctions relief. The benchmark international oil price extended the falls recorded on Friday to just over $82 a barrel, its lowest since the early days of the war, on 10 March. Brent crude was just below $73 at the outbreak of the war in late February. The oil price began tumbling late last week from $93 a barrel on Thursday to close at $87.50 on Friday after Trump said he was close to reaching a peace deal with Tehran that would end the regime’s effective chokehold on the oil trade route. Global stock markets rallied on Monday. In Europe, the UK’s FTSE 100 opened up 0.8% before easing to broadly flat, while the French Cac 40 and the German Dax were up just over 1%. Shares in oil companies, including BP and Shell, fell sharply.

Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough
Europe
BBC Business

SpaceX IPO raised $10bn more than thought

SpaceX raised $10bn (£7.5bn) more than initially thought when it sold shares to the public on Friday - bringing in a total of $85.7bn. Elon Musk's rocket and Artificial Intellgience (AI) company pulled off the biggest initial public offering (IPO) in history when it joined New York's Nasdaq stock exchange last week. The listing had raised $75bn from investors, which Musk told employees will be spent funding a "significant growth phase". But the banks which backed the IPO exercised a so-called "greenshoe" clause, which let them purchase an extra $10bn of SpaceX shares. The extra $10bn raised, revealed in a statement by SpaceX announcing the completion of the listing, would by itself rank as one of the biggest IPOs in history. It came thanks to a financial mechanism known as an overallotment option, more commonly referred to as a "greenshoe" option. When a company goes public in a highly anticipated listing, investor demand can outstrip the initial supply of shares. To prevent wild price swings and ensure a smoother launch, a greenshoe agreement lets the banks handling the listing sell more shares than originally planned. In SpaceX's case, appetite was exceptionally high. The underwriters, which included Goldman Sachs, Bank of America, and JPMorgan, exercised the option in full, purchasing an additional 83.3 million shares directly from the company to meet the huge demand. The listing also saw Musk elevated to trillionaire status, according to Bloomberg calculations. And momentum behind SpaceX continued on Monday, with shares surging by more than 19% to $192. Because the vast majority of Musk's wealth is directly tied up in SpaceX equity, his new milestone status remains entirely dependent on the market. A sharp decline in the stock could strip him of the title just as quickly as continued gains could multiply it.

SpaceX IPO raised $10bn more than thought
India
The Hindu BusinessLine

PSU banks see sharp jump in green deposits FY26; deploy funds for clean transport, renewable energy

State-owned lenders witnessed a sharp surge in green deposit mobilisation in FY26 amid increased depositors’ awareness and the maturation of the Reserve Bank of India’s (RBI) Green Deposit Framework, introduced in 2023. According to PTI’s analysis of banks’ annual reports for 2025-26, eight state-owned lenders raised ₹3,733.11 crore in FY26 through green deposits, compared to ₹1,831.79 crore in the year-ago period. The rise in green deposits reflects a growing focus among banks and depositors towards sustainable finance, with lenders increasingly linking their fundraising efforts with environmentally responsible lending, analysts said. State Bank of India (SBI), the country’s largest lender, raised ₹317.39 crore through its green deposit products till March 2026, with outstanding green deposits recorded at ₹218 crore as on March 31, 2026. SBI garnered ₹189.08 crore through green deposits in FY26, with the entire amount being deployed in clean transportation, particularly in green cars or electric vehicles, as per the bank’s annual report for 2025-26. “The amount of green deposit raised has been utilised for financing the Green Car (EV) Loan portfolio,” SBI said in its annual report. The bank said its green car loan portfolio stood at ₹3,587 crore as of March 31, 2026. Green deposit proceeds have been channelled into this portfolio to align the bank’s liability mobilisation and asset deployment strategies. Bank of Baroda raised ₹1,164.44 crore in FY26, compared to ₹1,083.09 crore in FY25. The bank deployed the entire funds in renewable energy. The lender, meanwhile, reported a green deposit portfolio of ₹1,899.12 crore as on March 31, 2026, as per its annual report for FY26. “The entire proceeds of the green deposit portfolio have been deployed into the renewable energy and clean mobility sector,” Bank of Baroda said in its annual report. Other state-owned lenders too mostly deployed green deposit proceeds towards renewable energy projects, solar initiatives and clean transportation, according to disclosures made in their annual reports. The RBI issued the Framework for Acceptance of Green Deposits on April 11, 2023, which came into effect from June 1, 2023. The framework provides a mechanism for banks to raise deposits and deploy the proceeds towards financing eligible green activities and projects.

PSU banks see sharp jump in green deposits FY26; deploy funds for clean transport, renewable energy
North America
CNBC Finance

Fox to buy streaming device maker Roku for $22 billion

Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with several changes and challenges. On Monday Fox announced it would acquire Roku for $160 per share. Fox's stock was trading down about 13% in premarket trading, while Roku was up about 2%. The combination will bring together Fox's news and sports channels, as well as its free ad-supported streamer Tubi with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi. The proposed acquisition comes about seven years after Fox's last major deal, when it shed its entertainment assets in a $71 billion deal with Disney. Since then, Fox's portfolio has primarily been made up of its TV channels, namely broadcast network Fox, which has been airing the FIFA World Cup since last week, and Fox News Channel on cable. In 2020 Fox acquired Tubi for $440 million. That service had long been its answer to the streaming wars, prior to the announcement of Fox One, its direct-to-consumer option that launched last year. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Fox to buy streaming device maker Roku for $22 billion
India
The Hindu BusinessLine

Broker’s Call: Computer Age Management Services (Buy)

We highlight CAMS as an excellent way to play the capital markets theme since non-MF businesses have reached harvest phase and will drive strong EBITDA growth the MF business will revert to normalised performance this year; and the margin outlook is positive. The share of non-MF businesses in overall revenue has risen from 13.1 per cent in FY24 to 14.4 per cent in FY26 The share of Alternates business has also inched up to 2.9 per cent. The outlook for the combined non-MF business is very healthy. MF revenue growth declined to 5 per cent in FY26. The normalised ratio of MF revenue growth to AUM growth declined to 26 per cent. This should not repeat in FY27. This was on account of weakness in equity markets. Employee cost growth declined to 6 per cent in FY26 due to employee count control. The company intends to improve its performance of employee count control in FY27, which will be aided by the re-architecture being carried out. The market share for CAMS in total MF industry AUM has remained broadly stable at 67.6 per cent in FY265. The market share in MF industry equity AUM has also remained broadly stable at 66.4 per cent. The market share for CAMS in live SIPs has increased to 64.2 per cent in FY26. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Broker’s Call: Computer Age Management Services (Buy)
North America
CNBC Finance

Centene to offer buyouts to some employees as health insurer cuts costs

Centene said it offered buyouts to some employees on Monday, as the health insurer grapples with higher medical costs, funding cuts and membership declines. "Centene is positioning the company to lead the future of healthcare — working to deliver a simpler and better experience for our members and partners while meeting the realities of today's healthcare environment," a company spokesperson said in a statement. "Today we announced a Voluntary Separation Program to support employees who may be considering a transition." The company did not indicate how many employees were offered buyouts or how much it is aiming to reduce its workforce. Shares initially fell 4% after Bloomberg first reported the news on Monday. Layoffs could follow if the company doesn't meet the target for voluntary separations, Bloomberg reported. Centene is the largest Medicaid provider and is focused on other federal health plans through Medicare and the Affordable Care Act. The buyouts come after the company reported a decline in membership in the first quarter, down 6% year over year to 26.3 million, according to a filing. Centene's ACA business lost about 2 million members in the first quarter compared with the end of 2025, primarily because Congress let enhanced federal subsidies in the program expire at the start of the year. The company in March also said it expects ACA membership to fall nearly 40% by the end of 2026, executives said in March at a Barclays conference. Centene is bracing for the impact of more than $900 billion in cuts to Medicaid over a decade, and the broader insurance industry is still managing higher-than-expected medical costs in privately-run Medicare plans. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Centene to offer buyouts to some employees as health insurer cuts costs