Finland’s Kone agrees to acquire German rival TK Elevator in a $34.4 billion deal. The acquisition marks a significant consolidation in the global elevator and escalator industry.

UBS reports Q1 2026 net income of $3.04 billion, beating analyst expectations of $2.42 billion. The bank also announced a $3 billion share buyback program for the second quarter.

UBS reported Q1 2026 net income of $3.04 billion, exceeding analyst estimates of $2.42 billion, and announced plans to repurchase $3 billion in shares during the second quarter.

Crop prices hit two-year high as Strait of Hormuz closure, extreme weather disrupt supply

The extended closure of the Strait of Hormuz and extreme weather have driven the crop price index to a two-year high.

Australia proposes a new tax on digital giants Meta, Google and TikTok to fund news reporting. The measure would require the companies to pay a portion of their revenue to support local journalism.

The Australian government has proposed a new tax on digital platforms including Meta, Google, and TikTok, requiring them to contribute a portion of their revenue to support news journalism.

Global commodity prices rise as the Strait of Hormuz remains closed amid the ongoing conflict involving the United States, Israel, and Iran.

The continued closure of the Strait of Hormuz is driving global commodity price increases amid the ongoing conflict between the United States, Israel, and Iran.