Global oil markets saw crude prices soar by 60% in March, driving US gas prices above $4 a gallon and causing Eurozone inflation to jump due to the ongoing Iran war and Middle East crisis which also threatens helium supplies vital for tech, while President Trump publicly states the US will exit the conflict soon.
Corporate activity saw OpenAI close Silicon Valley’s largest-ever funding round, McCormick and Unilever combine to create a spice giant, and Eli Lilly acquire a narcolepsy drug developer for $6.3 billion, while Oracle implemented layoffs amidst heavy AI investment, and Huawei's comeback slowed.
President Trump faced judicial setbacks as a judge halted construction of his White House ballroom and blocked his order to end funding for NPR and PBS, while **Democrats examined Elon Musk’s** role in suspending a business disclosure law.
The digital economy grappled with the expiration of a global ban on digital duties, leading the US trade representative to criticize the WTO, while social media companies faced legal scrutiny, and Microsoft was investigated by a UK watchdog over business software.
Labor markets and economic policy saw analysis suggesting a UK minimum wage rise had no economy-wide job impact, while the Fed grew concerned over low US job growth, and the US audit regulator pledged to rewrite oversight rules after industry backlash.
UK domestic affairs included a submarine captain's resignation amid a Chinese spy link and Labour suspending a rebel MP, while European leaders commemorated the Bucha massacre as Ukraine peace talks stalled, and Hungary's political landscape saw Péter Magyar challenge Orbán.
Consumer brands faced challenges as Nike guided for sales declines and Beyond Meat missed a filing deadline due to lower sales, while **Allbirds, once valued at $4 billion, sold its assets for a fraction, and Hershey** focused its growth strategy on salty snacks.