Unexpected contraction complicates Federal Reserve policy decisions and political outlook.

Global spot gold prices climbed to a seven-week high of $4,266 per ounce, extending gains for a fourth consecutive trading session as a weaker U.S. dollar, lower Treasury yields, and easing geopolitical tensions boosted demand for the precious metal.

Senior Moroccan officials had cautioned Madrid that a recent Spanish court ruling restricting the immediate deportation of sea-arriving migrants would trigger severe border disruptions weeks before an unprecedented wave of over 50,000 individuals crossed into the Spanish exclave of Ceuta, a senior official confirmed late Monday.

The World Bank has urged developing countries to accelerate the adoption of artificial intelligence (AI), warning that those failing to embrace the technology risk falling further behind economically while missing opportunities to improve public services and productivity.

A Ukrainian overnight drone strike targeted a major logistics warehouse belonging to Wildberries, Russia's largest e-commerce platform, in the Vladimir region east of Moscow, causing structural fires and localized disruptions as Kyiv expands its targeted aerial campaign against Russian commercial infrastructure.

Saudi Arabia, Russia, Iraq, and four other key OPEC+ members agreed on Sunday to increase oil production by 188,000 barrels per day starting in September, completing the rollback of a second round of voluntary production cuts despite continued disruptions to exports caused by tensions in the Middle East.