USGS reported a magnitude-5.4 earthquake about 189 km WNW of Bandon, Oregon, US.

Spain will phase out a 7% tax on electricity generation, saying the move will lower residential and corporate power bills and support a shift from fossil fuels to clean energy. The tax will be reduced in stages — 30% in Q3 this year, 40% in Q4, 50% in 2027 and fully abolished in 2028; the government estimates ordinary consumers' electricity bills will fall about 6%.

UK mortgage approvals fell sharply in May to 56,205, below April’s 15-month high of 66,034 and short of economists’ 63,000 forecast, Bank of England data on Monday showed. Approvals had remained elevated since the Ukraine shock as households rushed to lock rates ahead of rising borrowing costs; the data suggest that surge is now fading, signaling fresh spring pressure on the housing market. Consumers added £1.7bn (about $2.2bn) of unsecured credit in May, unchanged from April and slightly below expectations.