European Parliament backs larger EU long-term budget, calls for new taxes to fund future spending.

German record label BMG agrees to buy Nashville-based Concord, forming one of the world's largest music companies.

German record label BMG agrees to buy Nashville-based independent music group Concord, in a deal that will create one of the largest music companies in the world.

Brazil inflation rose less than expected in early April. Food and fuel costs, tied to the war in Iran, pushed prices higher but less than forecast.

Brazil’s inflation rose less than expected in early April, driven by higher food and fuel costs stemming from the war in Iran.

Ship transits through the Strait of Hormuz drop to 35 last week, down from 78, as regional blockades and attacks persist. Markets currently estimate a 49% probability of traffic normalizing before July.

Ship transits through the Strait of Hormuz fell to 35 last week, down from 78, amid ongoing regional blockades and attacks. Market analysts estimate a 49% probability that traffic levels will normalize before July.

U.S. oil benchmark WTI rises 5% as markets react to concerns over a potential impasse in the Middle East.

The U.S. oil benchmark West Texas Intermediate (WTI) has risen by 5% amid market concerns regarding a potential impasse in the Middle East.