US asks OPEC to up oil production by 1.0m barrels per day

The US government is understood to have asked Saudi Arabia and some other OPEC producers to increase oil production by about 1m barrels a day.

Euro area outlook "dramatically darker" in May, IHS Markit says

The pace of economic activity in the euro area reached its lowest ebb in 18 months in May with economists uncertain about the risk of a further slowdown.

UK services growth beats expectations, lifting rate hike expectations

Output from the UK's key services industry picked up more strongly than hoped last month, according to a survey released on Tuesday.

Government to sell 7.7% RBS stake

The UK government confirmed that it has begun the process to sell a near-£2. 6bn chunk of its stake in Royal Bank of Scotland.

UK to formally propose time-limited extension of current customs union this week

Westminster will propose to Brussels a time-limited extension of the current tarriff arrangement with the European Union this week, Bloomberg reported citing two persons familiar with the government's plans.

Investor sentiment towards euro area collapses in June, Sentix says

Doubts around the new government in Rome have led investors to downgrade their expectations for euro area growth back to the levels last seen in August 2012, when European Central Bank chief Mario Draghi famously promised to do "whatever it takes" to stem the rout in euro area periphery debt markets.

Sentix June

China warns 'all trade deals are off' if US raises tariffs

China has threatened to withdraw from its previously agreed commitments with Washington to cut its bilateral trade deficit on goods with the US if President Donald Trump moves ahead with tariffs on $50bn-worth of Chinese products.

Pedro Sánchez becomes new Spanish PM after parliament ousts Rajoy

Mariano Rajoy has been unseated as Spanish Prime Minister on Friday following the vote of no confidence in parliament that had been tabled by opposition leader Pedro Sánchez.

Global manufacturing PMIs mixed

National manufacturing surveys around the world were mixed on Friday.

US non-farm payrolls jump by 223,000 in May

US non-farm payrolls rose past forecacasts in May, with wage growth coming in a tad ahead of forecasts, in what most economists appeared to dub a "solid" report.

UK manufacturing PMI pick-up 'far from convincing'

UK manufacturing activity last month was stronger than expected as firms worked through the backlog of work from earlier in the year, with supply-chain constraints and cost pressures intensifying.