Eurozone slowdown deepens: New surveys show the eurozone economy contracting again, with the May PMI composite output index falling to 47.5 and business confidence sliding—an early sign that the Middle East energy shock is turning into stagflation risk. Markets pause on Mideast headlines: European equities ended flat as investors waited for updates on US-Iran diplomacy, while crude jumped and rate-hike expectations for the ECB firmed. Germany’s growth outlook worsens: The EU cut Germany’s 2026 growth forecast sharply, pointing to tariffs, high energy costs and uncertainty. Deutsche Bank under scrutiny: German authorities raided Deutsche Bank in a money-laundering probe tied to past dealings with firms linked to Roman Abramovich, after concerns about a late AML report. Tokenisation moves toward scale: Boerse Stuttgart’s Seturion is expanding settlement ambitions with SocGen, SG-FORGE and flatexDEGIRO, aiming to turn blockchain pilots into operating rails for tokenised securities. Legal shock in aviation: A Paris appeals court found Air France and Airbus guilty of corporate manslaughter over the 2009 AF447 crash, ordering maximum fines. Serbia gets a growth boost: The Commission forecast Serbia growing 2.8% in 2026 on public investment momentum around EXPO 2027, despite a temporary rise in the fiscal deficit.