Rolling coverage of the latest economic and financial newsAnthropic confidentially files for initial public offering on US stock marketA new economic alliance between the EU and like-minded Asian allies should be set up to save the world’s economies from “Trump shock”, a new report by Chatham House, the foreign affairs think tank, says. It was authored by Creon Butler, former director for international economic affairs in the National Security Secretariat in the UK cabinet office, and a “sous sherpa” at the G7 and G20 summits, He calls for a “third economic pole” initially be made up of EU countries and members of the Comprehensive and Progressive Trans-Pacific Partnership who are committed to following rules-based trade. The alliance should exclude the US and China as the former has made a dramatic break from rules while the latter has never fully committed to WTO rules, it argues.The report says:“China is far from the only country to behave this way but as the second largest national economy after the US, it has become a highly disruptive influence.”“It is likely only a matter of time before the full suite of Trump policies substantially reduces trend growth and economic stability in the US, and possibly the wider world.”“For hyperscalers, compute capacity is a direct driver of future revenue.“By leaning into equity, Alphabet is bringing in permanent capital rather than burdening a balance sheet already absorbing record capex [capital expenditure].” Continue reading...

Source: https://www.theguardian.com/business/live/2026/jun/02/alphabet-80bn-share-sales-ai-spending-berkshire-hathaway-stock-markets-oil-interest-rates-inflation-latest-news-updates