KPMG Australia Scandal: KPMG Australia’s COO stepped down as a whistleblower probe grows, with allegations that confidential client info was misused to win audit work—raising fresh scrutiny after prior CEO and audit leadership resignations. India Market Mood: Indian equities slid in afternoon trade as the Nifty IT index plunged ~5.5%, dragging broader sentiment; gold held a tight consolidation while crude rose. Spain Services Stabilize: Spain’s services PMI edged back above 50 in May, but export orders kept falling and costs stayed elevated, pointing to a shallow-but-uneven recovery. South Africa Rail Investment: Traxtion closed an $86m equity raise to fund more rail investment as private operators prepare to compete under the TRIM framework. UAE Non-Oil Soft Patch: UAE private-sector growth stayed subdued in May; Strait of Hormuz disruption hit exports, supply chains, and costs even as firms stayed cautiously optimistic. Australia Tobacco Black Market: Nicotine use in Australia jumped 40% since 2017, with ABS data suggesting most cigarettes now come from cheaper illicit sources. China Property Recovery: China’s property rebound extended into May, with new-home sales in core cities staying resilient even as overall developer sales continued to decline. US Market Tone: Wall Street stayed in “greed” territory as AI-fueled optimism and strong liquidity kept equities near records. AI Chip Theme: South Korea’s stock surge is tied to AI chip demand and local semiconductor leaders, helping it overtake India in global market rankings.