ECB Governing Council member Moulin said developments in the Strait of Hormuz are good news for the world.

Analysts Maya Prakash and Matthew Boesler say technology and finance have been the main drag on recent US labor demand, averaging a combined decline of 28,000 jobs per month so far this year. They add AI may be a factor — tech firms are increasingly citing AI as a reason for layoffs — and recent US nonfarm payroll gains would have been stronger without losses in these two sectors.

European media reported on July 2 that the European Commission is expected to unveil in September a proposal to ban minors from using social media across the EU. Commission President Ursula von der Leyen is slated to announce the recommendation in her State of the Union address on September 16; member states have been briefed. A child online safety advisory group will deliver a report on September 13 to inform the Commission. The proposed age threshold and enforcement details remain unclear; member states are debating options ranging from an outright ban for under‑age groups to requiring parental consent.