According to the Financial Times, UK Prime Minister-elect Burnham will uphold Labour’s controversial ban on new North Sea exploration licences, dashing the oil and gas industry’s hopes that the government might significantly revise its fossil fuel policies.

Oracle has initiated a new round of layoffs, with some teams experiencing double-digit percentage cuts. The total number of employees for fiscal year 2026 is expected to decrease by about 21,000 compared to the previous year, a reduction of approximately 13%. The company is reducing labor costs to finance expansion of AI infrastructure. The news triggered a sharp drop in the stock price of more than 5%, with a cumulative decline of about 25% since the beginning of the year. Wall Street remains cautious about its investment returns; Morgan Stanley maintains a "neutral" rating, pointing out that profit margin conversion is key to valuation reassessment.