The ongoing Iran War continues to rattle global markets, driving Panama Canal lane prices to record highs, contributing to UK inflation through surging petrol prices, and forcing airlines like Lufthansa and Southwest to cut guidance amid high fuel costs; meanwhile, US crude stockpiles rise, Trump extends a ceasefire with Iran, and energy traders prepare for prolonged disruption, while allies seek financial support and EU policy on Arctic drilling is rethought in response to the energy crisis.

• Iran war drives Panama Canal lane prices to record high — Financial Times -
• Not even Iran war’s oil shock will help China reflate — Financial Times -
• Middle East crisis as it happened: Iran says it has seized two container ships in Strait of Hormuz — Financial Times -

• Knight-Swift Transportation Swings to First-Quarter Loss — Wall Street Journal -
• Southwest Says Full-Year Guidance Is at Risk Due to Surging Fuel Costs — Wall Street Journal -
• Trump envoy seeks to replace Iran with Italy in football World Cup — Financial Times -
• Iran Again Tightens Its Grip on Shipping in the Strait of Hormuz — The New York Times Business -
• Stocks Rise as Investors Weigh Cease-Fire Extension — The New York Times Business -
• Lufthansa Cuts 20,000 Flights to Save Fuel Amid Iran War Price Surge — The New York Times Business -
• US allies in Gulf and Asia have requested swap lines, Bessent says — Financial Times -
• EU rethinks opposition to Arctic oil and gas drilling — Financial Times -
• Trump’s ‘dirty ceasefire’ tested as Iran hits shipping — Financial Times -
• German chancellor Merz defends industry against EU climate policy — Financial Times -
• Bessent Backs Financial Support for Oil-Rich U.A.E. — The New York Times Business -
• Supreme Court Rejects Oil Company Argument in Fight Over Great Lakes Pipeline — The New York Times Business -
• Energy traders dig in for a long Iran war — Financial Times -
• Russia to suspend Kazakh oil flows through key pipeline supplying Berlin — Financial Times -
• U.S. Crude Oil Stockpiles Rise Amid Increase in Imports — Wall Street Journal -
• Gold Trims Gains as Brent Climbs Above $100 — Wall Street Journal -
• No dosa today: India’s cooking gas crisis — Financial Times -
• Why Gasoline Is So Much Cheaper in the U.S. Than Overseas — Wall Street Journal -
• The military man trying to save US-Iran peace talks — Financial Times -
• Dollar gives up bulk of war gains as traders abandon bullish bets — Financial Times -
• FirstFT: Trump extends Iran ceasefire — Financial Times -
• TUI Cuts Guidance Amid Uncertainty Over U.S.-Iran War — Wall Street Journal -
• UK inflation accelerates to 3.3% in March as petrol prices jump — Financial Times -
• Fuel prices push UK inflation rate up in March — Financial Times -
• Trump extends Iran ceasefire as peace talks hit impasse — Financial Times -
• War disruption forces world’s biggest condom maker to raise prices by up to 30% — Financial Times -
• ECB has ‘luxury’ to wait on interest rate rises, says top policymaker — Financial Times -
• European Central Bank will respond forcefully if energy prices rise a lot — Financial Times -
• US coal producers squeezed as Iran crisis lifts demand and costs — Financial Times -
• Military briefing: Trump bolsters Gulf force — Financial Times -
• Trump finds it’s easier to start a war than to end one — Financial Times -

The AI sector sees massive investment from Tesla, with Elon Musk doubling down on AI bets and chipmaking technology, Intel gaining a key customer for its latest chipmaking tech, and IBM and Texas Instruments reporting higher sales buoyed by AI demand, even as Anthropic's new A.I. model sets off global alarms and **SpaceX acquires an AI start-up for $60 billion, emphasizing advanced connectivity growth and semiconductor manufacturing innovation**.

• Intel lifted as Musk says his Terafab will use its latest chipmaking tech — Financial Times -
• Tesla boosts spending plans to $25bn as Musk doubles down on AI bet — Financial Times -
• Tesla Profit Rises but Remains Below Earlier Highs — The New York Times Business -

• Tesla Surprises Wall Street With Better Profits, $1.4 Billion in Free Cash Flow — Wall Street Journal -
• IBM Posts Higher Sales, Buoyed by AI — Wall Street Journal -
• ServiceNow Posts Revenue Growth, But Says Armis Deal Will Weigh on Margins — Wall Street Journal -
• Texas Instruments Logs Higher First-Quarter Profit, Revenue — Wall Street Journal -
• Anthropic’s New Mythos A.I. Model Sets Off Global Alarms — The New York Times Business -
• AI should not drive today’s interest rate decisions — Financial Times -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• Musk’s SpaceX Goals Shift Ahead of Its I.P.O. — The New York Times Business -
• GE Vernova Lifts Outlook on Surge From Data Center Demand — Wall Street Journal -
• Deutsche Telekom Shares Fall on Reports of Potential Merger With T-Mobile US — Wall Street Journal -
• Apple controls the tech sector’s Strait of Hormuz — Financial Times -
• The Consequences of SpaceX’s Latest A.I. Moonshot — The New York Times Business -
• AT&T Revenue Ticks Up on Advanced Connectivity Growth — Wall Street Journal -
• ASM International Shares Rise as Sales Beat Expectations, Boosted by AI Demand — Wall Street Journal -
• CATL Unveils Fast-Charging Battery Innovation — Wall Street Journal -
• OpenAI in talks to commit up to $1.5bn to private-equity joint venture — Financial Times -
• Europe is ceding sovereignty to SpaceX — Financial Times -
• America’s forgotten Silicon Valley — Financial Times -
• SpaceX obtains right to buy AI start-up Cursor for $60bn — Financial Times -
• SpaceX Strikes Deal With Cursor for $60 Billion — The New York Times Business -
• ‘Why isn’t the energy used by people?’: China’s global AI push hits resistance — Financial Times -

Boeing leads Airbus in deliveries with jumping revenues, while CSX posts higher profit, Philip Morris sees sales rise, and Boston Scientific's net income doubles; conversely, Reckitt faces falling sales due to weak cold and flu product demand and Russia sanctions, Electrolux announces a factory closure, and Avis Budget investors suffer losses from a short squeeze, even as Bombardier navigates supply chain constraints and new drugs stir hope for pancreatic cancer treatment.

• Boeing regains delivery lead over Airbus as revenues jump — Financial Times -
• Two Drugs Stir Hope for Treatment of Deadly Pancreatic Cancer — The New York Times Business -
• Investors nurse losses after ‘short squeeze’ at car rental group Avis Budget — Financial Times -

• Basic Materials Roundup: Market Talk — Wall Street Journal -
• Boeing’s Commercial Jet Business Improves, Reducing Quarterly Loss — Wall Street Journal -
• CSX Posts Higher Revenue, Profit — Wall Street Journal -
• Aging in Place: How Technology Might Help You Grow Old at Home — The New York Times Business -
• Bombardier CEO Navigates Supply Chain Constraints for Defense Business After Hitting $1 Billion Goal Early — Wall Street Journal -
• Ukraine miner Ferrexpo warns it could run out of cash by August — Financial Times -
• France and Germany extend deadline to try to save joint fighter jet — Financial Times -
• Philip Morris Sales Rise on International Growth — Wall Street Journal -
• Boston Scientific Net Grows Sharply — Wall Street Journal -
• Sam’s Club launches one-hour US delivery with shoppers in ‘on-demand phase’ — Financial Times -
• More Banks Are Earning $100 Million Fees for Advising Big M&A Targets — Wall Street Journal -
• Reckitt Shares Fall After Weak Sales for Cold and Flu Products — Wall Street Journal -
• ABB Shares Rise on Guidance Lift, Robust Demand — Wall Street Journal -
• Electrolux to Close Hungary Factory, Flags $65 Million Charge — Wall Street Journal -
• Reckitt sales hit as cleaning products caught by widening Russia sanctions — Financial Times -
• AkzoNobel Posts Higher Adjusted Earnings Amid Difficult Context — Wall Street Journal -
• Danone Sales Grow as U.S. Momentum Returns — Wall Street Journal -
• Nordea Backs Guidance Despite Market Uncertainty — Wall Street Journal -
• Reebok plans hundreds of China stores to capture activewear boom — Financial Times -
• NFL Makes Its Case to FCC During Regulatory Scrutiny — Wall Street Journal -
• BHP strikes China iron ore deal after months of talks — Financial Times -
• Can EVs kill off petrol cars in China? — Financial Times -
• The Michael Jackson Biopic That Nearly Blew Up Is Poised to Be a Hit — Wall Street Journal -

Argentina's economy experiences its sharpest contraction under Milei, the UK launches a retail investing campaign amidst Isa confusion, and Nigeria replaces its finance minister to deepen reforms; concurrently, Kevin Warsh faces scrutiny as Trump's Fed pick, the IRS wins a corporate tax maneuver case, **Switzerland proposes a $20bn capital increase for UBS, and taxes on wages hit a decade high across OECD countries, reflecting ongoing inflation and interest rate discussions**.

• Argentina’s economy records sharpest monthly contraction under Milei — Financial Times -
• Isa confusion clouds UK’s launch of retail investing campaign — Financial Times -
• Nigeria replaces finance minister in bid to deepen reforms — Financial Times -

• Kevin Warsh, Trump’s Fed Pick, Has Tough Task Shedding ‘Sock Puppet’ Label — The New York Times Business -
• Best Small-Business Loans in April 2026 — Wall Street Journal -
• Switzerland hits UBS with proposed $20bn capital increase — Financial Times -
• Warsh’s data preferences risk costly inflation mistake — Financial Times -
• IRS Notches Court Win Over ‘Project Soy’ Corporate Tax Maneuver — Wall Street Journal -
• House prices in London’s wealthiest boroughs suffer double-digit decline — Financial Times -
• How the £100,000 tax trap is shaping work — Financial Times -
• Population collapses of yore — Financial Times -
• Inflation and interest rates tracker: see how your country compares — Financial Times -
• UK taxes on wages rose more than in any other rich country in 2025, says report — Financial Times -
• Taxes on wages hit decade high across OECD countries — Financial Times -
• Who is the real Kevin Warsh? — Financial Times -
• Six lessons from history’s greatest financial crises — Financial Times -
• Warsh rejects accusations he would be Trump’s ‘sock puppet’ — Financial Times -

The Trump Administration is nearing a rescue deal for Spirit Airlines, potentially **extending $500mn in funding with equity warrants, as the discount carrier struggles with surging jet-fuel prices and bankruptcy concerns, highlighting broader market talks in the auto and transport sector**.

• Trump Administration Nearing Rescue Deal for Spirit Airlines — Wall Street Journal -
• Trump Administration Nears Loan Deal to Rescue Spirit Airlines — The New York Times Business -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -

• US may extend $500mn in rescue funding to Spirit Airlines — Financial Times -

**Heidi O’Neill from Nike is set to become Lululemon's new CEO, Best Buy's Corie Barry steps down after years of tepid growth, and Devin Nunes departs as CEO of Trump Media, while John Ternus faces the challenge of succession at Apple, and the Gates Foundation plans staff cuts and reviews Epstein ties** amidst internal changes.

• John Ternus Has Big Shoes to Fill at Apple. Luckily, Tim Cook Has a Playbook for That. — Wall Street Journal -
• Heidi O’Neill, Formerly of Nike, Will Be New Lululemon’s New CEO — The New York Times Business -
• Lululemon Is Picking a Former Nike Executive to Be Its Next CEO — Wall Street Journal -

• Best Buy CEO Corie Barry Steps Down After Years of Tepid Growth — Wall Street Journal -
• Gates Foundation to Cut 20% of Staff, Review Epstein Ties — Wall Street Journal -
• Devin Nunes Departs Trump Media After 4 Years as C.E.O. — The New York Times Business -

Coinbase and Gemini face lawsuits in New York for alleged illegal gambling, crypto billionaire Justin Sun sues Trump family's World Liberty Financial over fraud claims, the UK financial watchdog raids properties linked to crypto traders, and an ex-RBS banker is sentenced over bribery, highlighting broader concerns over financial conduct rules and consumer protection in cases like motor finance lawsuits and the No Surprises Act.

• Former Employee Sues MrBeast’s Company, Alleging Harassment — The New York Times Business -
• Coinbase and Gemini Accused of Illegal Gambling in N.Y. Lawsuits — The New York Times Business -
• Crypto billionaire Justin Sun sues Trump family’s World Liberty Financial — Financial Times -

• Crypto Entrepreneur Justin Sun Sues Trump Family’s World Liberty Financial, Accusing It of Fraud — The New York Times Business -
• Capita loses Royal Mail pension scheme contract after failures — Financial Times -
• Ex-RBS banker sentenced over bribery linked to GRG scandal — Financial Times -
• Ecocide is a crime against humanity — Financial Times -
• UK financial watchdog raids crypto traders’ properties in London — Financial Times -
• UK lenders urge judges to block mass motor finance lawsuits — Financial Times -
• A $440,000 Breast Reduction: How Doctors Cashed In on the No Surprises Act and Arbitration — The New York Times Business -
• UK dilutes post-crisis ‘fit and proper’ rules for financial services staff — Financial Times -
• Booking.com Faces Antitrust Probe in Italy Over Commercial Practices — Wall Street Journal -
• The pollution data they don’t print on your water bill — Financial Times -
• Prudential Financial extends Japan sales pause after mis-selling scandal — Financial Times -

Zelenskyy prepares to address an EU summit amid loan disputes, Germany commits to greater European defense responsibility, and US allies are urged to pay more for critical minerals to reduce reliance on China; meanwhile, tensions deepen between the US and Seoul, American applications for Irish citizenship jump, and Indonesia faces internal instability with the army's increased role.

• Germany to take on ‘more responsibility’ for Europe’s defence — Financial Times -
• Zelenskyy to crash EU summit after calling Orbán’s bluff in €90bn loan row — Financial Times -
• US warns on intelligence as Seoul tensions deepen — Financial Times -

• Trump trade chief urges US allies to pay more for critical minerals — Financial Times -
• Is Norway really a war profiteer? — Financial Times -
• American applications for Irish citizenship jump 63% — Financial Times -
• G7 citizens overstate foreign aid spending by 20 times, survey suggests — Financial Times -
• The real transatlantic divide is about more than Trump — Financial Times -
• Acid attack shakes Indonesia as army returns to fore — Financial Times -