Markets, trade, and economic policy worldwide
Japan's Prime Minister Sanae Takaichi has warned that shipping disruptions in the Strait of Hormuz, resulting from the ongoing conflict between the US and Iran, are causing significant economic impacts across the Asia Pacific region.
Asian refiners are bidding for UAE Upper Zakum crude at premiums of approximately $20 per barrel above official prices due to supply shortages caused by the ongoing Iran war.
German automotive stocks declined between 1.2% and 2.2% in pre-market trading following President Donald Trump's decision to increase tariffs on German vehicles to 25%.
A group of 13 Swiss lawmakers will meet in Bern on Monday to kickstart the legislative process that will shape the future of UBS.
Dubai International Airport reported a 66% decline in passenger traffic during March, citing regional air travel disruptions caused by the ongoing war in Iran.
GameStop Corp. has proposed to acquire eBay Inc. for $125.00 per share in a deal valued at approximately $55.5 billion, with the GameStop board unanimously approving the offer.
GameStop has acquired a 5% economic stake in eBay, utilizing $9.4 billion in cash and liquid investments alongside $20 billion in financing.
The European Union has reportedly demanded that the United Kingdom pay an annual fee of €1.15 billion to maintain access to the EU single market, according to The Times. The report notes that Switzerland, which is not an EU member, agreed to pay €375 million to the EU Cohesion Fund in 2025 for similar market access.
GameStop CEO Ryan Cohen has announced an offer to acquire eBay for $56 billion, according to a report from the Wall Street Journal.
GameStop has reportedly made an offer to acquire eBay at a price of $125 per share, according to a report from the Wall Street Journal.
Spirit Airlines has ceased all operations after failing to secure a $500 million federal bailout, according to an announcement early Saturday.
President Donald Trump has announced a new plan to partially reopen a strait, leading to a rise in stock futures and a decline in oil prices.
The Asian Development Bank announced a 70 billion dollar commitment by 2035 to fund cross-border power grid integration and digital infrastructure across the Asia-Pacific region. ADB President Masato Kanda launched the initiatives during the bank's annual meeting in Samarkand.
U.S. foreclosure filings have reached a six-year high, driven by increasing property taxes, rising insurance premiums, and mounting debt burdens on homeowners.
Belgian pharmaceutical company UCB has announced an agreement to acquire Candid Therapeutics in a deal valued at up to $2.2 billion.
Ethiopian Prime Minister Abiy Ahmed announced the country is projected to generate $10 billion in export earnings this fiscal year, a significant increase from less than $3 billion.
The United States is increasing efforts to disrupt Iran's oil exports to China, targeting the country's primary source of revenue.
Federal Reserve official Neel Kashkari stated that the central bank may need to increase interest rates under certain economic scenarios.
US Treasury Secretary Bessent expressed optimism that Federal Reserve Chair Jerome Powell will step down from his position in the near term.
The departing Federal Reserve chair has decided not to remain on the board, citing concerns over President Trump's legal challenges to the institution's operational structure.
The Israeli Employment Service reports that unemployment in Israel has reached 16%, with nearly one million people currently out of work amid ongoing conflicts.
Adnoc has announced a 200 billion dirham ($55 billion) investment plan for upstream and downstream projects, following the United Arab Emirates' exit from OPEC on May 1.
Detroit-based automakers have issued a warning regarding a potential $5 billion impact on commodity costs linked to the ongoing conflict involving Iran.
Japan has officially lifted its long-standing ban on the export of lethal weaponry, marking a significant shift in the nation's defense policy as it seeks to enter the global arms market.
Meta CEO Mark Zuckerberg announced that the company is conducting layoffs driven by increased spending on artificial intelligence and warned that further job reductions may occur.
TankerTrackers reports that an Iranian supertanker carrying approximately $220 million worth of oil has successfully bypassed United States sanctions enforcement.
The European Parliament's trade chief has called for a firm response to new tariff threats issued by the United States.
A convoy of 70 Iraqi crude oil tankers has crossed into Syria via the al-Yarubiyah border crossing, marking the first such export through this route in 14 years, according to SANA.
The number of information technology jobs in the United States has fallen below 2.8 million for the first time since 2020, marking a loss of over 300,000 positions since 2022.
The United States federal debt has reached a record $39 trillion, marking an increase of nearly $7 trillion since 2020.