Finance
Oil prices fall as US waives Iran sanctions; global shares tumble after US tech sell-off
Global stock markets fell sharply following a major technology sell-off in the US and a reversal in SpaceX shares after its market debut.
Global stock markets fell sharply following a major technology sell-off in the US and a reversal in SpaceX shares after its market debut. In the UK, Keir Starmer's decision to step down as prime minister had a relatively measured market reaction. Meanwhile, oil prices dropped as the US and Iran agreed on a diplomatic roadmap, leading to a US Treasury sanctions waiver on Iranian oil until August 21. In corporate news, Nissan halted work on its electric Qashqai model in Sunderland due to cost-cutting, and StubHub UK was fined nearly £900,000 by the CMA for hidden fees.
By the numbers
- £889,200
- Fine imposed on StubHub UK for consumer law infringement
- 51,350
- Customers identified who had a hidden fee added
- £590,000
- Total refunds StubHub must issue to customers
- 3%
- British grocery inflation rate reported by Worldpanel
- $76.83
- Price of Brent crude per barrel in early London trading
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