Latest Developments

North America
CNBC

Sellers are pulling homes off the market at the fastest pace since 2020

More frustrated home sellers were giving up, right in the midst of the all-important spring market, according to new data. Nationwide, 5.8% of all home listings were pulled off the market in April, according to Redfin, a real estate brokerage. That ties with December for the highest share of homes delisted since March 2020, when the pandemic hit and the housing market froze. Delistings in April were up 3.8% compared with March. The increase comes as higher mortgage rates, elevated gas prices and weaker consumer confidence take their toll on housing demand. Sellers are no longer in the driver's seat and aren't getting the prices they want. Atlanta saw the highest share of homes come off the market in April, with 1 in 10 delisted. San Jose, California, followed with roughly 9% pulled, then Los Angeles (7.8%), Dallas (7.8%) and Seattle (7.7%). Mortgage rates had been falling at the start of this year, with the 30-year fixed briefly touching the 5% range at the end of February, according to Mortgage News Daily. They then jumped sharply when the war with Iran started and have remained elevated since then. "Buyers know they have negotiating power, often offering under the asking price and completing inspections, but some sellers just won't budge," said Patricia Ammann, a Redfin agent, in a release. Home prices have been easing, but are still higher than they were a year ago and have even begun to strengthen more recently. "Markets that depend more heavily on traditional mortgage financing and rate-sensitive buyers are seeing prices stay relatively flat," said Selma Hepp, chief economist at Cotality, in a release. "Overall, fewer markets posted year-over-year price declines in April than in prior months, pointing to continued stabilization across the housing market." CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. Signed contracts on existing homes, so-called pending sales, did rise very slightly in April, up 1.4% from March, according to the National Association of Realtors. That is likely due to higher inventory, which was up nearly 6% from March. Listings in some parts of the country are starting to pile up, as new ones come on the market and other ones sit. Homes are sitting on the market longer, causing some buyers to simply give up as the all-important spring season draws to a close. Some homeowners who pulled their homes off the market over the past year relisted them in April, according to Redfin, hoping to take advantage of the spring market, despite higher mortgage rates. The report found 2.5% of the homes on the market in April were relistings, tied with the prior two months for the highest share since mid-2020 when there was a sudden surge in housing demand.

Sellers are pulling homes off the market at the fastest pace since 2020
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
Europe
BBC Business

Universal park officially named as government pledges £1.3bn

Universal's planned UK theme park will be named Universal United Kingdom Resort, it has been revealed, and will be supported by £1.3bn in government funding. Comcast NBCUniversal said it expected the attraction to draw 8.5 million visitors a year when it opens in 2031, with ambitions for it to become Europe's most-visited theme park. The US entertainment giant said it would invest £5bn in building the resort, in Kempston Hardwick, Bedfordshire, with a further £1bn planned over its first 10 years. The government's contribution will go towards upgrading local infrastructure and transport links to help accommodate visitors from across the UK and overseas. Ahead of the announcement, Chancellor Rachel Reeves visited the site where site preparation works had already begun. She said the investment would "unlock nearly £50bn of economic growth" and create thousands of jobs. The Labour politician continued: "Our own investment in transport and infrastructure means that local people will benefit - improving connectivity, backing our creative industries, and bringing millions of visitors to the UK from across the world." Part of the government's investment will fund upgrades to Wixams station to create a four-platform stop, as well as improvements to the A421, which were expected to cost £474m. Wixams is the Thameslink line stop closest to the resort, but there is also a planned East West Rail station at Stewartby, expected to open in the early 2030s. More than 100 people in the UK have already been employed to work on the project, with Universal promising a total of 20,000 jobs during the construction period. Once the attraction opens, it said a further 8,000 jobs would be created and about 80% of those roles would go to people from Bedfordshire and surrounding areas. Mark Woodbury, chairman and CEO of Universal Destinations & Experiences, said: "This new theme park and resort will create so many new opportunities for the people of Bedford and beyond and allow us to share our distinct experiences with guests from around the world."

Universal park officially named as government pledges £1.3bn
North America
CNBC

Eli Lilly's top dealmaker says don't be surprised to see more M&A that pushes Lilly into new areas

In addition to running Eli Lilly's oncology business, he's now responsible for finding the drugmaker's next opportunities as head of business development. And Lilly, now the world's largest pharmaceutical company, is hungrier than ever for deals. "The company's financial strength right now, driven mostly by the weight loss business, is so strong," Van Naarden said in an interview at the American Society of Clinical Oncology's annual meeting. "We have this really like almost generational opportunity to redeploy that capital in all of our disease areas to not only fuel growth for the company in the decades to come, but to help a lot more patients with all different kinds of diseases, and so we're executing against that strategy." Not even halfway into the year, Lilly has already announced it will spend more than $10 billion upfront and potentially up to $25 billion on eight acquisitions. For all of last year, Lilly spent about $4 billion on roughly 40 deals. Lilly's dealmaking spree continued Wednesday with an up to $1.9 billion partnership with RNA-editing company Ascidian Therapeutics to develop medicines for kidney diseases. The spending reflects an intentional shift in how Lilly approaches dealmaking now that the company is larger and more highly valued than ever before. The company's market capitalization now stands at about $1 trillion, up from $190 billion in 2021, according to data from LSEG. Lilly is the first health-care company to join the trillion-dollar club, which is dominated by tech firms. Previously, the drugmaker primarily liked to place bets on early-stage assets that were inexpensive because they were riskier. Now, it's using the windfall from its GLP-1 drugs like Mounjaro and Zepbound to pursue experimental drugs that are more likely to work – and carry larger price tags because of it. "These things are medicines," Van Naarden said in a separate interview at his Stamford, Connecticut office. "How big will they be? What's the development plan? When will they get approved? Like, I don't yet know all that. Obviously we have projections, but you can see enough to say OK, this is real, and we can underwrite paying a bigger price than we pay for some real preclinical thing. So that's been a big part of where we've been focused in addition to running the high-volume, early-stage strategy." Van Naarden said his boss, Lilly CEO Dave Ricks, approached him last fall about leading business development in addition to his main job as head of Lilly's oncology business. The company wanted to sharpen its dealmaking skills and start widening its aperture beyond the early bets where Lilly liked to focus. Lilly's planned acquisition of Centessa Pharmaceuticals, announced in March, could reach up to $7.8 billion if the company meets certain milestones for its experimental drugs for sleep disorders like narcolepsy. That would make it Lilly's second-ever largest deal behind the company's $8 billion acquisition of Loxo Oncology in 2019. Van Naarden was the chief operating officer at Loxo at the time. While large for Lilly, deals of roughly $8 billion are still small compared to agreements from other large pharmaceutical companies. It raises the question of how big Lilly could go. Van Naarden doesn't want to set arbitrary size spending limits. He says it's about how compelling the science is and how big the opportunity is for patients and for Lilly. Some of the deals announced this year fall under Lilly's current specialties of oncology, neuroscience, cardiometabolic health and immunology. Others, like Lilly's recently announced acquisitions of three vaccine companies, will take the company into new areas.

Eli Lilly's top dealmaker says don't be surprised to see more M&A that pushes Lilly into new areas
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
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
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