Iraq's oil minister said that during the prime minister's visit to the U.S., Iraq's oil ministry and U.S. companies signed agreements expected to total about $200 billion.

China’s Ministry of Science and Technology and the European Commission signed a 2025–27 China‑EU joint research funding agreement targeting Agriculture, Food and Biobased Solutions (FAB) and Climate Change and Biodiversity (CCB). The deal establishes joint grants to universities, research institutes and companies for applied R&D aimed at carbon‑neutral and low‑carbon solutions. China will channel support via the National Key R&D Program’s intergovernmental international S&T innovation cooperation key project; the EU will use Horizon Europe.

Suren Thiru of the Institute of Chartered Accountants in England and Wales said June’s slowdown in U.K. inflation is likely temporary as Ofgem’s planned energy price-cap rise will probably reverse the improvement and could push headline inflation above 3%. He said weak growth may limit second-round effects but escalating tensions with Iran make 4% possible; today’s data have ended prospects of a Bank of England rate rise in June, and high inflation could deepen the cost-of-living crisis and become a bigger political and economic problem.