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Asia-Pacific
Channel NewsAsia

Thailand ready for UN mediation on maritime dispute with Cambodia

BANGKOK: Thailand is "fully prepared" to engage in UN-backed mediation initiated by Cambodia over disputed maritime claims, the foreign minister said on Wednesday (Jun 3), while pledging to safeguard national interests. Neighbouring Cambodia said on Tuesday it had started the dispute resolution process under the United Nations Convention on the Law of the Sea (UNCLOS) over disputed areas in the Gulf of Thailand, where undersea energy reserves are valued at around US$300 billion. The move followed Bangkok's cancellation last month of a 2001 agreement that established a framework for joint oil and gas exploration in areas of overlapping claims, with Thailand's prime minister citing a long-standing stalemate in implementing it. Thailand's Foreign Minister Sihasak Phuangketkeow said in a statement on Wednesday that Cambodia's "rushed decision" to begin compulsory conciliation proceedings under UNCLOS could hinder efforts to "rebuild trust and confidence towards restoring bilateral relations". CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less The Southeast Asian neighbours have disputed maritime territories and the demarcation of their 800km land border for decades, a legacy of the French colonial era. After two rounds of deadly border clashes last year, the two sides agreed to a ceasefire in December but have repeatedly accused each other of truce violations. "Thailand is fully prepared to undertake all necessary actions in accordance with UNCLOS, placing the utmost importance on safeguarding the country's interests," Sihasak said in the statement. The conciliation process results in non-legally-binding recommendations for the parties to use to negotiate a resolution, according to the Thai statement. Thailand's energy ministry has estimated future revenues from oil and natural gas in the area to be worth around US$300 billion. Cambodian Prime Minister Hun Manet said on Tuesday that his government had begun the mediation process to "protect Cambodia's sovereignty and maritime rights in accordance with international law".

Thailand ready for UN mediation on maritime dispute with Cambodia
Europe
The Guardian

OECD predicts spate of recessions globally if Iran conflict drags into 2027

Cars and motorcycles queue for petrol in Dhaka, Bangladesh, amid concerns over a fuel shortage caused by war in the Middle East. Photograph: Suvra Kanti Das/Abaca/ShutterstockView image in fullscreenCars and motorcycles queue for petrol in Dhaka, Bangladesh, amid concerns over a fuel shortage caused by war in the Middle East. Photograph: Suvra Kanti Das/Abaca/ShutterstockOECDOECD predicts spate of recessions globally if Iran conflict drags into 2027 Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025 If the Middle East conflict drags on into next year it would hit global growth hard, driving some economies into recession and causing energy shortages, according to forecasts from the Organisation for Economic Co-operation and Development. In its latest Economic Outlook, the Paris-based club of industrialised countries lays out a “prolonged disruption” scenario, in which there is no agreement between the US and Iran until 2027. It forecasts such a scenario would reduce global GDP growth to 2.1% this year, from 3.4% in 2025, “pushing some economies into or close to recession” – with emerging economies hit hardest. Oil and gas shortages would result in “enforced rationing” of energy for businesses, while “the price of fertilisers and other affected inputs into industrial processes, such as sulphur and helium, would also rise as supply is curtailed”. It would create headaches for policymakers, who could face recession if they raised interest rates too rapidly to see off rising inflation risk as energy and food prices surge. The analysis suggests the long-running US AI boom could be at risk, too: “The significant energy price shocks or energy shortages associated with the prolonged disruption scenario would increase datacentre operating costs and constrain the supply of critical hardware used in AI systems.” This could “further reduce the capacity and incentive for AI investment, leading to notably weaker growth in those economies currently being boosted by AI-related investment and production”, it says. Donald Trump has repeatedly suggested in recent weeks that a deal with Tehran is imminent, helping to calm oil markets, but nothing has so far materialised. Talks are now suspended, with Iran refusing to take part in discussions while Israel continues attacking Hezbollah in Lebanon. The chokehold on the crucial strait of Hormuz has been squeezing international oil supplies for more than three months, driving up prices and prompting emergency measures across scores of countries. In a foreword to its twice-yearly snapshot, the OECD’s chief economist, Stefano Scarpetta, described the Iran conflict as “the dominant force shaping the global economic outlook”. In the “prolonged disruption” scenario, he said: “The consequences would be global but could prove especially severe for developing economies with limited energy reserves, higher shares of energy and food in household consumption, constrained fiscal capacity and weak social safety nets, low private savings buffers and more fragile currencies.”

OECD predicts spate of recessions globally if Iran conflict drags into 2027
North America
Yahoo Finance

FTSE 100 Live: Stocks to open in red as oil climbs, B&M and Boohoo results out

The content on this Site is provided for information purposes only and does not constitute investment advice, a personal recommendation, an offer or solicitation to buy or sell securities, or any other regulated activity. It should not be relied upon as the basis for any investment decision. Past performance is not a reliable indicator of future results. The value of investments can fall as well as rise. You may not recover the amount you invest, and in some cases you may be required to pay more. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. B&M European Value Retail has reported a 38% fall in annual profits, coming from weak trading in the UK being exacerbated by what it admits are "execution issues". However, chief executive Tjeerd Jegen said the turnaround programme is beginning to show signs of progress. The FTSE 250-listed discount retailer posted adjusted profit before tax of £284 million for the 2026 financial year, down from £455 million a year earlier, while adjusted EBITDA fell 26% to £459 million.

FTSE 100 Live: Stocks to open in red as oil climbs, B&M and Boohoo results out
Europe
The Guardian

George Santos reportedly investigated by DoJ over suspicious Kalshi bets

George Santos outside court in Suffolk county, New York in 2024. Santos was sentenced to seven years for fraud. Photograph: Stefan Jeremiah/APView image in fullscreenGeorge Santos outside court in Suffolk county, New York in 2024. Santos was sentenced to seven years for fraud. Photograph: Stefan Jeremiah/APRepublicansGeorge Santos reportedly investigated by DoJ over suspicious Kalshi betsDisgraced former congressman said to have put bet on whether he would be at Trump’s State of the Union speech Federal authorities are investigating whether George Santos, the disgraced former Republican congressman from New York, engaged in insider trading by betting on a prediction market on his own attendance to the State of the Union address, multiple news outlets reported on Tuesday. Santos allegedly placed a bet on Kalshi, a popular online prediction market, over whether he would be in attendance at Trump’s State of the Union address in February, according to NPR, which first reported on the investigation citing anonymous sources. Santos had shared his intention to be at the event on social media, before telling his followers that travel woes had nixed the plan. Kalshi, whose representatives also did not reply to a request for comment, flagged the trade to the Commodity Futures Trading Commission (CFTC), according to the Associated Press. Anonymous sources confirmed to several other news outlets that the Department of Justice was investigating the matter. The justice department and the CFTC did not immediately respond to a request for comment. Reports of the federal investigation comes as Kalshi and Polymarket have faced scrutiny from lawmakers over concerns about insider trading. Questions have swirled about well-timed, profitable online bets on the Iran war. In April, Kalshi fined three congressional candidates for betting on their own races. That same month, a US soldier involved in the capture of the Venezuelan president, Nicolás Maduro, was taken into custody over bets he made about the deposed head of state on Polymarket. Asked by NPR whether he had a Kalshi account, Santos said: “I’m not saying yes. I’m not saying no.” “I hate to disappoint but I don’t engage with rag reporting anymore…” Santos wrote on X, appearing to reference the reports. “Business as usual on my end haters!” he said. Santos had a short stint in Congress, representing New York’s third district. He was expelled in December 2023 after a House ethics committee report detailed how he used campaign funds for purchases including travel, cosmetic treatment and luxury goods. In April 2025, Santos was sentenced to seven years in prison after pleading guilty to wire fraud and identity theft. Months later, Trump commuted his sentence.

George Santos reportedly investigated by DoJ over suspicious Kalshi bets
North America
CNBC

CBS fires veteran correspondent Scott Pelley amid turmoil over direction of '60 Minutes'

CBS News has fired high-profile "60 Minutes" correspondent Scott Pelley amid debate about the direction of the show, which has been a mainstay of the network's television lineup for decades. "Your employment with CBS News is terminated for cause effective immediately," Nick Bilton, the new executive producer of "60 Minutes," wrote to Pelley in a letter seen by CNBC. It was not immediately clear when the letter was sent. Pelley had previously said that Bari Weiss, the editor-in-chief of CBS News, was "murdering" "60 Minutes," according to NBC News. In a statement obtained by MS Now, Pelley said the network is attempting to "curry a moment of favor with the Trump administration." Skydance and Paramount merged last year, putting new leadership in charge of CBS and other Paramount properties including the storied film studio and more nascent streaming business. Paramount Skydance Chief Executive Officer David Ellison is now trying to merge Paramount with Warner Bros. Discovery, and he needs the Trump administration's regulatory approval to complete the deal. In 2024, then-presidential candidate Donald Trump sued "60 Minutes," alleging the program deceptively edited an interview with his opponent, Kamala Harris. Paramount settled the lawsuit for $16 million, which irked some veteran "60 Minutes" employees, including Pelley. Another notable anchor, Anderson Cooper, announced he was leaving the show earlier this month. "For my part, new management has instructed me to inject falsehoods and bias into a politically sensitive story," Pelley said in his statement. "I've been told to include assertions that are unverified. To date, in every case, I have managed to ignore these instructions or refuse them." During a meeting on Monday, Pelley told Bilton he has "slender qualifications" for the role of executive producer of newsmagazine "60 Minutes," according to the NBC News report. Bilton is a former New York Times technology columnist and has made several documentaries for HBO and Netflix. Bilton replaced Tanya Simon as the show's executive producer. Simon had spent more than two decades at "60 Minutes" before being ousted last week. In contrast, Bilton has no experience running a TV news show. "The leadership of '60 Minutes' is no longer recognizable," Pelley said in his statement. "The principles I hold dear are gone, and so I must leave as well." During an interview on May 28, Bilton told CNBC that he's committed to demonstrating his hiring isn't a political maneuver. "I will prove it with the work," Bilton said. "I'm dedicated to holding people in power to account."

CBS fires veteran correspondent Scott Pelley amid turmoil over direction of '60 Minutes'
Europe
The Guardian

Fired 60 Minutes correspondent Scott Pelley says CBS told him to inject ‘falsehoods’ into reporting

Scott Pelley anchors CBS News' election night coverage on 8 November 2016 at the CBS Broadcast Center in New York City. Photograph: Michele Crowe/CBS via Getty ImagesView image in fullscreenScott Pelley anchors CBS News' election night coverage on 8 November 2016 at the CBS Broadcast Center in New York City. Photograph: Michele Crowe/CBS via Getty ImagesCBSFired 60 Minutes correspondent Scott Pelley says CBS told him to inject ‘falsehoods’ into reportingVeteran journalist says executives pushed unverified claims and gave politicians a say in interviews The longtime 60 Minutes correspondent Scott Pelley, who was fired by CBS News on Tuesday after clashing with the network’s new management, issued a public statement accusing the network’s new executives of silencing employees and claiming they instructed him “to inject falsehoods and bias” into his reporting. “‘60’ has been the number-one program in America for decades because our beloved audience finds integrity, quality, and humanity in our stories,” Pelley wrote in the lengthy statement he shared on social media on Wednesday morning. “When stewardship of the program passed to my colleagues and me, our responsibility was to expand energetically into a new age of media technology while preserving the values our audience expects. Now, the new owner of our network is casting this legend aside, apparently to curry a moment of favor with the Trump administration.” Pelley criticized the new leadership at CBS, adding: “Last month, 60 Minutes lost its DNA when our entire senior leadership and two of our best on-air correspondents were cruelly fired without cause. Good people were silenced because they stood up for our audience. They stood for fairness against the forces of political bias; they stood for professionalism against chaos.” He continued: “For my part, new management has instructed me to inject falsehoods and bias into a politically sensitive story. I’ve been told to include assertions that are unverified. To date, in every case, I have managed to ignore these instructions or refuse them. “Recently, politicians have been invited to choose correspondents for interviews on the broadcast. Giving politicians control over 60 Minutes interviews is not how this is done. Finally, incompetence and unprofessionalism in the new management have wreaked havoc. In a case involving one of my stories, the entire program came within 19 minutes of not getting on the air at all.” He concluded his statement by saying that he was departing “after 37 years at CBS with one emotion – a heart brimming with gratitude for the men and women of CBS News who encouraged and enriched my work, very often at the risk of their own lives. I pray for a day when those people and their ideals are honored again – a day when sanity, competence, and courage return.” CBS News did not immediately respond to the Guardian’s request for comment about the statement. Bari Weiss addressed Pelley’s termination on the network’s morning call on Wednesday. “I know I speak for myself, and I hope I speak for everyone here when I say that I’m only interested in working in a newsroom that is built on trust and mutual respect. We cannot do our work without it. That foundation was broken on Monday, and despite our attempts to engage with Scott Pelley and to find a way back, unfortunately we weren’t able to do so, and so we had to part ways,” Weiss said, according to an audio recording of the meeting obtained by the Guardian. “We did not want that to happen, but that’s the path that he chose. That unfortunate outcome does not discount from the amazing contributions and work that Scott Pelley has done for CBS and for 60 Minutes over the course of his career.”

Fired 60 Minutes correspondent Scott Pelley says CBS told him to inject ‘falsehoods’ into reporting
North America
CNBC Economy

Job openings in April surged to 7.6 million, the highest in nearly two years

Job openings hit their highest level in nearly two years during April while hiring fell sharply, according to a government report Tuesday that showed rising demand but also slow hiring in the labor market. The Bureau of Labor Statistics reported that available employment hit 7.6 million for the month, a surge of 731,000 from the prior month and the highest level since May 2024. Economists surveyed by Dow Jones had been looking for 6.8 million openings from the BLS' Job Openings and Labor Turnover Survey. The jump in openings put the available jobs above the total of unemployed workers. The rate of openings compared with the size of the labor force rose 0.4 percentage point to 4.6%. By industry, nearly all of the openings came from the professional and business services category, which added 668,000 positions, a possible indicator of the impact from artificial intelligence on labor demand. Health care and social assistance, the greatest engine of job creation, added 89,000. Financial activities saw a decline of 134,000. Most other categories reported little change. Companies hired a total 5.12 million workers during the month, a decline of 419,000 from March, taking the rate down to 3.2%, or a decline of 0.3 percentage point. However, layoffs and discharges fell slightly as well, down 192,000 to 1.7 million. Quits, a level of worker mobility and confidence in finding a new job, declined to just under 3 million, down 183,000 and the lowest level since August 2020. In broad terms, the report reflects the continuing low-hire, low-fire environment that has characterized the labor market since early 2025. Weekly jobless claims have held low except for a brief spikes while the unemployment rate has barely budged at 4.3%. "For now, the labor market remains mostly stable. With the quits rate and the layoff rate ticking down in April, neither employees nor employers are in a hurry to make moves." Matthew Martin, senior U.S. economist at Oxford Economics, said in a note. "The US/Israel-Iran war will test the labor market. Weaker household spending and uncertainty are likely to influence firms' hiring intentions." Federal Reserve officials watch the JOLTS numbers for signs of labor slack. Central bankers spent much of last year worried about weakness in the labor market but have since switched their concerns to the impacts from inflation due to tariffs and soaring energy prices. The Fed meets later this month and is widely expected to stay on hold with interest rates. 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.

Job openings in April surged to 7.6 million, the highest in nearly two years
North America
Yahoo Finance

S&P 500, Nasdaq, Dow Futures Ease After Another Record Close As AI Momentum Cushions Iran's Expanding Strikes: MRVL, AVGO, MSFT, PANW In Focus

U.S. stock futures edged lower in the overnight session on Tuesday after markets closed at yet another record high, supported by the ongoing boom in artificial intelligence. Meanwhile, tensions in the Middle East continue as the U.S. reportedly struck Iran, even as U.S. President Donald Trump has claimed that conversations with Tehran are ongoing. The Dow futures fell 0.08%, the S&P 500 futures declined 0.04%, and the Nasdaq 100 futures traded 0.10% lower as of 9.07 p.m ET. The iShares 20+ Year Treasury Bond ETF (TLT) was down 0.05% amid ‘neutral’ sentiment at the time of writing. On Tuesday, all three U.S. benchmark indexes closed higher. The S&P 500 closed above 7,600 for the first time, while the Dow Jones index added more than 200 points to close 0.45% higher. The Nasdaq Composite was up 0.03% at close. U.S. stock markets climbed on Tuesday as growing optimism in the AI sector offset ongoing tensions in the Middle East and uncertainty over the war between Washington and Tehran. Chip companies and AI infrastructure players posted sharp gains, helping extend the momentum that has carried markets higher this year, with the S&P 500 ending in the green for the ninth straight week. “The momentum has been incredibly strong. It’s for a lot of good reasons, and a lot of optimism, as well as really strong demand around the AI investment cycles. But still we are moving into a period, sort of moving past the earning season, which has been a tremendously positive catalyst for the markets,” Meghan Shue, head of investment strategy at Wilmington Trust, told CNBC in an interview. Meanwhile, Trump said in a post on Truth Social that the U.S. and Iran deal negotiations are ongoing, dismissing reports of strained relations between the two countries. “The conversations between us have been going on continuously, including four days ago, three days ago, two days ago, one day ago, and today,” he said. “Where they lead, one never knows, but as I told Iran, ‘It’s time, one way or another, for you to make a Deal. You’ve been doing this for 47 years, and it cannot be allowed to go on any longer!’” he added. On the other hand, the United States military’s Central Command (CENTCOM) has reportedly carried out “self-defense” strikes on Iran’s Qeshm Island after reports of attacks on Kuwait and Bahrain. While Iran’s Islamic Revolutionary Guard Corps (IRGC) said that it had targeted American headquarters in Bahrain and a regional U.S. airbase, CENTCOM denied the claims, calling them false. In a statement posted on X, CENTCOM said, “All Iranian attacks on American forces failed. US forces remain vigilant and ready to defend against unwarranted Iranian aggression.” On Wednesday, investors will closely watch for the May ADP National Employment Report, along with fresh housing and manufacturing data. Markets will also look to the Federal Reserve’s Beige Book for insights into current economic conditions and regional business activity.

S&P 500, Nasdaq, Dow Futures Ease After Another Record Close As AI Momentum Cushions Iran's Expanding Strikes: MRVL, AVGO, MSFT, PANW In Focus
Asia-Pacific
Channel NewsAsia

Indonesia arrests former head of President Prabowo’s flagship free meal scheme

The scheme was linked to cases of food poisoning that have reportedly affected at least 33,000 children as of April. Former head of Indonesia's National Nutrition Agency Dadan Hindayana (centre) being escorted to a detention vehicle in Jakarta, Indonesia, Jun 3, 2026. (Photo: EPA/Mast Irham) JAKARTA: Indonesia on Wednesday (Jun 3) arrested the former head of the country's free school meals programme, blighted by mass food poisonings and corruption claims, a day after he was fired. The programme was the flagship policy of President Prabowo Subianto's 2024 election campaign. Prabowo fired Dadan Hindayana, an entomologist who had led the National Nutrition Agency since its inception in August 2024, along with two deputies on Tuesday. All three were taken into custody in Jakarta on Wednesday. They stand accused of "crimes in the management" of the programme, Syarief Sulaeman Nahdi of the attorney general's office (AGO) told reporters. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Dadan allegedly influenced the selection of several foundations managing the programme's kitchens even though they had not met standards, Syarief said, adding that he owned those foundations through external parties. He was also allegedly involved in the marked up procurement of items, including more than 21,000 electric motorbikes, 32,000 pairs of shoes, and 5,400 televisions. Authorities earlier raided the nutrition agency's office as well as the homes of the three defendants, Syarief said. Two sources, requesting anonymity, told Reuters that AGO personnel raided the agency's headquarters at 2am local time on Wednesday in multiple vehicles. The building remained under lockdown at 11am, and employees who were meant to report for duty were not allowed to enter the premises. The government has budgeted at least US$15 billion for the ambitious programme, which aimed to feed at least 82.9 million children and pregnant and breastfeeding women - nearly one-third of the country's population.

Indonesia arrests former head of President Prabowo’s flagship free meal scheme