Markets, trade, and economic policy worldwide
Shares of artificial intelligence-related firms dropped after the Wall Street Journal reported that OpenAI missed its targets for new users and revenue in recent months, raising concerns over the ChatGPT creator's growth.
Bloomberg reports the Federal Reserve is expected to hold interest rates steady in what is likely Chair Jerome Powell's final meeting, with Kevin Warsh set to take over the politically charged role under President Donald Trump.
Seagate reported fiscal third-quarter revenue rose 44% year-over-year to $3.11 billion, surpassing the $2.96 billion estimate, and forecast fourth-quarter revenue and adjusted earnings above expectations. Shares surged over 13% in after-hours trading.
Kone Oyj is close to acquiring TK Elevator in a cash-and-stock deal, according to sources, marking one of Europe's largest private equity exits.
Tech stocks led a market selloff amid growing concerns that massive AI investments may not deliver returns, following reports that OpenAI missed key sales and user growth targets.
Visa's earnings surpassed analyst estimates, boosted by consumers using its branded cards for transactions worldwide.
The World Bank projects a 24% surge in global energy prices for 2026, citing significant supply disruptions linked to the ongoing conflict between the United States, Israel, and Iran.
Visa's Q2 adjusted EPS was $3.31, beating the $3.10 estimate, with net revenue of $11.23 billion surpassing the $10.74 billion forecast. Total processed transactions of $66.1 billion slightly missed the $66.39 billion consensus.
UN spokesperson Stephane Dujarric reported that ship transits through the Strait of Hormuz have declined by 95.3% since February 28, while food commodity prices rose by 6% and European crude oil prices increased by 53%.
Airbus reported a decline in first-quarter profit due to lower aircraft deliveries, falling behind Boeing for the first time in years.
The Appalachian region in the eastern US holds enough lithium to curb America’s reliance on imports for centuries, according to a new US Geological Survey study.
European aluminium billet premiums have doubled following supply disruptions caused by the conflict involving Iran, placing significant pressure on consumers.
The International Monetary Fund is reportedly requiring Ukraine to implement a 20% VAT on all imported parcels as a condition for releasing $8.1 billion in funding. This measure is identified as a requirement for the upcoming June review of the nation's financing program.
Jet fuel exports from Asia to California are at the lowest point in at least a decade, adding another pressure point to a burgeoning air travel crunch on the West Coast stemming from the war on Iran.
Orange has signed a €1.3 billion deal with CaixaBank and BNP Paribas to acquire Scorefit.
U.S. Treasury official Bessent stated that illicit funds funneled by designated individuals and entities have been used to support Iran's terrorist operations.
The US Treasury is directing banks to cease transactions with China's independent "teapot" refineries to restrict the import and processing of Iranian oil. This action is intended to increase financial pressure on Tehran's energy exports.
The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Wisconsin in response to the state's legal actions against five prediction markets.
About 2,000 ships remain stranded in the Gulf, awaiting passage through the Strait of Hormuz. Even if the strait reopens, shipping will still face obstacles.
The United States has ordered numerous chip equipment companies to stop tool shipments to two facilities of Hua Hong, Reuters sources report, due to concerns the facilities may be involved in advanced chip production.
CVC is considering a €9 billion offer for Italian payments company Nexi.
Jamie Dimon warns of a possible bond crisis as global debt risks increase.
Sabine Weyand, the European Union's top trade official, is stepping down following reported disagreements regarding trade negotiations with the Trump administration.
Air India, IndiGo, and SpiceJet have informed the Indian government that the airline industry is nearing a suspension of operations.
Wall Street dealers' U.S. Treasury holdings this year have reached about $550 billion, the highest since 2007, while fixed-income ETFs see record inflows.
China has moved to force Meta to unwind its acquisition of Manus, signaling Beijing's readiness to use economic weapons to safeguard key interests.
Middle East conflict disrupts scrap supplies to India's aluminium producers, raises costs.
Copa Airlines has announced an agreement to purchase up to 60 Boeing 737 MAX aircraft, with a total list price valued at $13.5 billion.
JPMorgan CEO Jamie Dimon said he expects a credit downturn that will be 'worse than people think,' adding that stagflation is the worst-case scenario he worries about, though he is not concerned about the U.S. economy.
Standard Chartered has arranged $2.33 billion in syndicated financing for the landmark Standard Gauge Railway (SGR) project in Tanzania.