Bloomberg — 2026-06-22#

Lead Story#

The global energy market is undergoing a seismic shift as the US and Iran cite “major progress” in high-level peace talks in Switzerland, prompting Washington to waive key sanctions and temporarily reopen the US market to Iranian crude for the first time in 35 years. The breakthrough has accelerated oil flows through the Strait of Hormuz and sparked a wave of bearish bets from hedge funds, significantly easing global inflation fears.

Markets & Economics#

• Former Fed Chairman Alan Greenspan Dies at 100: The Federal Reserve titan who guided a record US economic expansion over 18 years passed away due to complications from Parkinson’s disease, leaving a complex legacy defined by both prolonged prosperity and the 2008 financial crisis.
• SpaceX Shares Poised to Slide Again as US Market Reopens: Elon Musk’s SpaceX erased $600 billion in market value over three days as the company taps the investment-grade bond market for the first time to fund its aggressive artificial intelligence ambitions following its record $75 billion IPO.
• Pound Trades Near 2026 Low as UK Political Uncertainty Builds: Sterling fell to a low for the year and UK bond investors are reassessing fiscal risks after Prime Minister Keir Starmer announced his sudden resignation, putting Britain on course for its seventh premier in a decade.
• China’s Gold Imports Surge to Most in More Than Two Years: The world’s largest bullion buyer showed resilient appetite in May, with imports hitting a multi-year high even as global precious metal prices steadied amidst the US-Iran peace negotiations.

Business & Industries#

• AbbVie to Buy Apogee Therapeutics for $10.9 Billion in Cash: In one of its largest recent deals, AbbVie is acquiring the inflammatory disease drug developer to bolster its dermatology portfolio with eczema treatments and combat growing market competition.
• CRH to Buy Rival Arcosa in Building Material Firm’s Biggest Deal: The Irish building materials giant agreed to acquire US construction services company Arcosa for $8.5 billion, marking a record acquisition for CRH.
• Qualcomm is Said to Near Deal for AI Chip Startup Modular: Qualcomm is in advanced talks to purchase Modular in a $4 billion transaction, underscoring the relentless, capital-intensive scramble for AI infrastructure assets.
• Castlelake Says Three Separate Offers to EasyJet Were Rebuffed: EasyJet rejected three takeover bids from private investment firm Castlelake—the latest valuing the budget airline at £4.74 billion ($6.3 billion)—arguing the proposals attempted to buy the company “on the cheap”.

Policy & World#

• Burnham Poised for Power in UK After Starmer Agrees to Step Down: Andy Burnham, the popular Mayor of Manchester, is set to become the next UK Prime Minister by September after Keir Starmer’s dramatic fall from favor less than two years after securing a landslide Labour victory.
• Trump Ally Wins Colombian Election, Heralding Pro-Business Swing: Colombia elected conservative lawyer Abelardo de la Espriella as president, signaling a sharp pivot back to market-friendly, pro-US policies after four years of leftist governance.
• China Places Two US Rare Earths Producers on Export Control List: Beijing retaliated against Washington’s push for alternative critical mineral supply chains by imposing export controls on a pair of US rare earth companies, escalating global trade tensions.
• Qatar Expects No Impact on LNG Exports From Domestic Gas Blast: An explosion during startup operations at the Ras Laffan industrial complex left 13 dead and dozens injured, though Qatari officials stated liquefied natural gas exports will not be disrupted.

Opinion & Analysis#

• Andy Burnham Joins the UK’s PM Parade After Keir Starmer: Bloomberg Opinion notes that while the “King of the North” has vanquished populist threats locally, he faces steep economic odds and an exhausted electorate as he attempts to succeed where his six predecessors failed .
• Greenspan’s Stumbles Hold Lessons for Warsh’s Fed: With Alan Greenspan’s free-market philosophy experiencing a renaissance, his passing offers a crucial cautionary tale for current Fed Chair Kevin Warsh about the dangers of irrational exuberance .
• Are Backyard Data Centers an Answer to AI’s Biggest Problem?: As tech giants scramble for power, this piece explores whether decentralized, smaller-scale data centers can bypass the severe gridlock currently crippling AI infrastructure development .