{"id":64558,"date":"2026-07-10T08:38:15","date_gmt":"2026-07-10T12:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-canada-jobs-beat-estimates-uk-targets-big-tech-in-new-oversight\/64558\/"},"modified":"2026-07-10T08:38:15","modified_gmt":"2026-07-10T12:38:15","slug":"global-markets-canada-jobs-beat-estimates-uk-targets-big-tech-in-new-oversight","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-canada-jobs-beat-estimates-uk-targets-big-tech-in-new-oversight\/64558\/","title":{"rendered":"Global Markets: Canada Jobs Beat Estimates, UK Targets Big Tech in New Oversight"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Canada\u2019s unemployment rate fell to 6.5% in June<\/strong>, defying analyst expectations of a steady 6.6% as the economy added <strong>18,200 jobs<\/strong>.<\/li>\n<li><strong>UK regulators designated <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a>, Google, Amazon, and Oracle as &quot;critical third parties,&quot;<\/strong> bringing the cloud giants under direct financial oversight starting <strong>July 13<\/strong>.<\/li>\n<li><strong>Brazil&#39;s June inflation (IPCA) slowed to 0.16% month-over-month<\/strong>, significantly lower than the <strong>0.31%<\/strong> anticipated by markets.<\/li>\n<li><strong>IAEA Director General Rafael Grossi issued a call for &quot;maximum restraint&quot;<\/strong> regarding Iran&#39;s <strong>Bushehr nuclear power plant<\/strong> following reports of renewed regional tensions.<\/li>\n<li><strong>Russian state nuclear firm Rosatom<\/strong> confirmed the first six workers have begun returning to the <strong>Bushehr<\/strong> facility to resume construction activities.<\/li>\n<\/ul>\n<h2>Canadian Labor Market Shows Resilience<\/h2>\n<p>The Canadian economy added <strong>18,200 net jobs<\/strong> in June, a performance that surpassed the consensus forecast of 10,000. This modest gain helped nudge the <strong>unemployment rate down to 6.5%<\/strong>, compared to 6.6% in May. While the headline figure was positive, the underlying data revealed a heavy tilt toward <strong>part-time employment (+17.5K)<\/strong>, while <strong>full-time roles remained essentially flat (+0.6K)<\/strong>.<\/p>\n<p>Wage growth remains a potential concern for the <strong>Bank of Canada<\/strong>, as the <strong>hourly wage rate for permanent employees accelerated to 3.7% year-over-year<\/strong>, up from 3.2% in the previous month. Meanwhile, <strong>building permits in May fell by 1.7%<\/strong>, a slight improvement over the 7.6% decline seen in April, suggesting a continued but slowing cooling in the construction sector.<\/p>\n<h2>UK Tightens Grip on Cloud Giants<\/h2>\n<p>The UK Treasury and financial regulators, including the <strong>Bank of England<\/strong> and the <strong>FCA<\/strong>, have officially named Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>), Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>), <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>), and Oracle (<a href=\"\/stock\/ORCL\">ORCL<\/a>) as the first &quot;critical third parties&quot; (CTPs) to the British financial system. This designation, effective <strong>July 13<\/strong>, allows regulators to monitor the operational resilience of these firms to prevent a systemic collapse should a major cloud provider suffer an outage.<\/p>\n<p>The move follows a finding that roughly two-thirds of UK financial firms rely on these four providers for essential services. Under the new regime, these tech giants will be required to share more information with regulators and adhere to specific incident reporting standards. This marks the first time such non-financial entities have been pulled under the direct umbrella of UK financial stability oversight.<\/p>\n<h2>Brazil Inflation Cools Faster Than Expected<\/h2>\n<p>Brazil\u2019s <strong>IPCA inflation index rose 0.16% in June<\/strong>, coming in well below the 0.31% expected by economists and marking a sharp deceleration from May&#39;s 0.58% increase. On an annual basis, inflation sat at <strong>4.64%<\/strong>, down slightly from 4.72% in the prior month. The lower-than-expected print provides some breathing room for the <strong>Central Bank of Brazil<\/strong>, though officials remain cautious as inflation expectations for 2026 remain above the central target.<\/p>\n<h2>Geopolitical Tensions and Nuclear Safety<\/h2>\n<p>In the Middle East, <strong>IAEA Chief Rafael Grossi<\/strong> emphasized that the agency is &quot;keeping tabs&quot; on the <strong>Bushehr nuclear power plant<\/strong> in Iran. Grossi urged all sides to remain calm following reports of military activity near the site earlier in the week. The plant, which is a critical piece of Iranian infrastructure, has seen a gradual return of technical staff.<\/p>\n<p><strong>Rosatom<\/strong>, the Russian state corporation responsible for the plant&#39;s construction, reported that the <strong>first six workers<\/strong> have returned to the site. This follows a period of heightened uncertainty and previous evacuations. <strong>Qatar<\/strong> has also stepped in as a mediator, stressing the importance of both the <strong>U.S. and Iran<\/strong> implementing the existing <strong>Memorandum of Understanding (MOU)<\/strong> to maintain regional stability and protect maritime trade in the <strong>Strait of Hormuz<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Canada\u2019s unemployment rate fell to 6.5% in June, defying analyst expectations of a steady 6.6% as the economy 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