Business
European space authorities have completed an important step toward enlarging the bloc’s leading satellite communication system following extensive negotiations in Brussels over the past months. The European Commission officially announced the signing of a contract to expand IRIS2 satellite constellation through a binding implementation agreement with the SpaceRISE industrial consortium. This formal agreement marks the culmination of detailed technical and financial discussions that began in January 2026, marking the transition of the Infrastructure for Resilience, Interconnectivity and Security by Satellite program from initial planning to full industrial deployment.
South Korea’s current account surplus reached a record $49.73 billion in June as semiconductor exports surged. The Bank of Korea reported a sharp increase from the previous record of $38.61 billion in May. June also extended the country’s current account surplus streak to 38 consecutive months. Strong goods exports accounted for most of the increase, with technology shipments leading the expansion in overseas sales.
In July, manufacturing activity within the Eurozone experienced a boost, with factory output reaching its fastest rate in nearly four and a half years. The S&P Global manufacturing PMI increased to 51.9 from 51.4 in June. Readings above 50 indicate expansion. The final figure was slightly below the earlier estimate of 52.0. While production saw an uptick at the start of the third quarter, demand indicators revealed that the recovery was still uneven across the currency bloc.
The British government revealed on Wednesday a substantial strategic funding plan, committing £8.4 billion to the modernization of its nuclear submarine fleet. This investment aims to support the ongoing operations of the UK’s nuclear deterrent at sea. An official statement from the Prime Minister’s Office explained that this multi-billion-pound budget is designed to accelerate the construction of four Dreadnought-class nuclear submarines, while also creating thousands of high-skilled jobs for young workers over the next decade.
Belgian consumer prices experienced an unexpected rise in July, with the annual inflation rate climbing to 3.56%, according to data released by Belgium. This marks a reversal of the recent slowdown and adds pressure on household budgets and business costs. Statbel, the country’s official statistical authority, published monthly consumer index figures showing that Belgium’s inflation rate surpassed earlier predictions, increasing from 3.40 percent in June. The latest report exceeded the 3.37 percent forecast by the Federal Planning Bureau, highlighting ongoing inflationary pressures across sectors such as recreation, utilities, and transportation.
Starbucks Corporation, the specialty coffee leader, revealed its fiscal third-quarter 2026 financial results on Wednesday, significantly beating Wall Street analysts’ forecasts for both earnings and comparable store sales. The company’s stock surged following the release as efforts to enhance third-place performance show positive results, with the outlook for 2026 improving and shares climbing more than five percent during extended trading on the Nasdaq. Based in Seattle, the retailer reported consolidated net revenues of $9.3 billion for the 13-week period ending June 28, 2026, driven by an 8.1 percent rise in North American store sales and ongoing margin improvements across global operations.