The Iran war continues to be a dominant force, causing volatile energy prices, impacting corporate outlooks, exacerbating UK public sector borrowing, and prompting EU leaders to address a deepening energy crisis amid a shaky ceasefire deal.

• Middle East crisis day 55 as it happened: Donald Trump says Israel and Lebanon will extend ceasefire by 3 weeks — Financial Times -
• US shale bosses resist boosting oil output over Iran war ‘chaos’ — Financial Times -
• Oil Prices Rise and Stocks Slide Amid Uncertainty Over Next Steps in War — The New York Times Business -

• US Navy secretary fired amid Iran blockade — Financial Times -
• U.S. Airlines Raise Fares, Trim Capacity for Summer as Fuel Costs Jump — Wall Street Journal -
• Honeywell Restructuring Nears Finish as Iran War Clouds Outlook — Wall Street Journal -
• UK public sector borrowing hit £12.6bn in March as Iran war strains finances — Financial Times -
• Hoarding Is Driving Energy Prices Higher Everywhere — The New York Times Business -
• Arnault warns Middle East war could spiral into ‘global catastrophe’ — Financial Times -
• UK consumer confidence falls to lowest level in more than two years — Financial Times -
• US-Iran war hits new stalemate with shaky ceasefire deal — Financial Times -
• American Airlines Cuts Profit Outlook After Fuel Prices Soar — Wall Street Journal -
• UK business activity rose more than expected in April — Financial Times -
• Toxic rain falls on Russian city after refinery blaze — Financial Times -
• Eurozone faces ‘deepening economic woes’ from Middle East conflict, survey suggests — Financial Times -
• Why Diesel Has Become a Much Bigger Economic Problem Than Gasoline — The New York Times Business -
• Sainsbury’s and WHSmith warn Middle East war will hit profits — Financial Times -
• US rate cuts will be postponed the longer the energy shock lasts — Financial Times -
• Renault Revenue Rises on Brand Momentum — Wall Street Journal -
• EU leaders to grapple with energy crisis as Brussels pleads for calm response — Financial Times -
• Escape from Hormuz: the oil tankers running the Iranian gauntlet — Financial Times -
• How Beirut was turned into a bystander in its own ceasefire talks — Financial Times -
• War still weighs on stocks despite the S&P 500’s rebound — Financial Times -
• ‘The last thing we needed’: US farmers hit by spiralling prices due to Iran war — Financial Times -
• Will energy security fears change the global energy market? With Daniel Yergin — Financial Times -

The AI sector is experiencing explosive growth, driving Intel's revenue surge and Microsoft's substantial investments alongside Meta's workforce cuts to fund AI initiatives, while cybersecurity concerns grow over Chinese theft of AI technology and broader discussions about AI's impact on workers and geopolitical competition continue.

• Intel shares jump 20% as it predicts revenue surge from AI data centres — Financial Times -
• Intel Shares Jump 20% as AI Agents Drive Big Growth — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -

• Microsoft Targets About 7% of Its U.S. Workers With Buyout Offer — The New York Times Business -
• UK in talks with Anthropic over Mythos access for banks — Financial Times -
• Meta to cut 10% of jobs to ‘offset’ Zuckerberg’s AI spending — Financial Times -
• China hackers steal western secrets by targeting consumer gadgets — Financial Times -
• Microsoft to offer 7% of US staff voluntary redundancy for the first time — Financial Times -
• Microsoft Offers Buyouts to 7% of Workforce — Wall Street Journal -
• America’s Largest Landowner Is Using AI to Digitize the Forest — Wall Street Journal -
• White House accuses China of ‘industrial-scale’ theft of AI technology — Financial Times -
• Investors Fret Over Tesla’s $25 Billion A.I. Bet — The New York Times Business -
• Will AI widen inequality between workers? — Financial Times -
• Shares of Apple Supplier STMicroelectronics Jump After Strong Quarter — Wall Street Journal -
• Can the carbon removals market keep pace with the AI boom? — Financial Times -
• PG&E Revenue, Profit Rises — Wall Street Journal -
• FirstFT: Workplace AI divide widens — Financial Times -
• Nokia Reports Rising Sales From AI and Data-Center Customers — Wall Street Journal -
• SK Hynix Posts Record Quarterly Results Amid AI Boom — Wall Street Journal -
• Private equity courts OpenAI and Anthropic — Financial Times -
• Top Republican pushes party to shun $300mn AI lobby — Financial Times -
• The AI digital divide — Financial Times -
• SpaceX and Tesla are on an inevitable collision course — Financial Times -
• Nvidia supplier SK Hynix hails ‘structural shift’ after another record quarter — Financial Times -

Various companies are reporting mixed quarterly results, with Nike announcing significant layoffs as part of its turnaround plan, KPMG cutting US audit partners, and Blackstone seeing earnings rise, while American Express profits climb and major automotive companies face EV write-downs.

• Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan — The New York Times Business -
• Nike to Cut 1,400 Workers in Latest Round of Layoffs — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Two Litigation Partners Depart Paul Weiss — The New York Times Business -
• KPMG Cutting 10% of U.S. Audit Partners After Voluntary-Retirement Push Falls Short — Wall Street Journal -
• Meta Will Lay Off 8,000 Employees in May: Memo — Wall Street Journal -
• Keurig Dr Pepper First-Quarter Sales Rise on Growth in Cold Beverages — Wall Street Journal -
• KPMG to axe 10% of US audit partners — Financial Times -
• American Express Profit Rises on Premium Customer Strength — Wall Street Journal -
• BP Faces Shareholder Rebellion at Annual Meeting — Wall Street Journal -
• US asset manager Voya Financial faces sale pressure from activist fund — Financial Times -
• Freeport-McMoRan Production Sinks — Wall Street Journal -
• Union Pacific Sales Rise on Higher Pricing, Fuel Surcharges — Wall Street Journal -
• Dow Loss Widens and Revenue Falls on Lower Demand, Prices — Wall Street Journal -
• Comcast’s Residential Broadband Customer Decline Moderates — Wall Street Journal -
• PulteGroup Profit Falls as Stagnant Market Drives Higher Incentives — Wall Street Journal -
• Blackstone Distributable Earnings Rise, Revenue Climbs — Wall Street Journal -
• Netflix Boosts Stock-Buyback Program by $25 Billion — Wall Street Journal -
• Norway’s DNB Bank Profit Slips as Margins Compress — Wall Street Journal -
• EssilorLuxottica Shares Fall as Investors Weigh Impact of Smartglasses — Wall Street Journal -
• Saab Backs Guidance on Strong Demand But Cautions on Component Supply — Wall Street Journal -
• L’Oreal Shares Surge After Sales Rise Despite Tough Market Conditions — Wall Street Journal -
• L’Oréal hails ‘lipstick effect’ as war drives sales of small beauty comforts — Financial Times -
• Roche Backs Full-Year View as Quarterly Sales Rise — Wall Street Journal -
• Nestle Reports Drop in Sales Amid Strategic Overhaul — Wall Street Journal -
• Orange Lifts Key Metric Outlook, Revenue Rises — Wall Street Journal -
• Heineken Upbeat on Profit Plans Despite Continued Pressure on Beer Sales — Wall Street Journal -
• Sanofi Posts Higher Sales Amid Leadership Transition — Wall Street Journal -
• Hyundai Motor’s Profit Slide Continues Amid Lingering Headwinds — Wall Street Journal -
• Safran Posts Double-Digit Revenue Growth on Surge in Engine Deliveries — Wall Street Journal -
• House of Fidelity — the dynasty at the heart of the investment powerhouse — Financial Times -
• Nelson Peltz’s son builds first public activist stake in Intertek — Financial Times -
• UK could save £2.5bn by helping banks to buy gilts, says Barclays — Financial Times -
• Billions in EV Write-Downs—and New Bonus Goal Posts for Detroit CEOs — Wall Street Journal -

Regulatory and policy decisions are shaping various industries, from debates over an airline bailout and the potential sale of Citgo to the reclassification of cannabis, alongside Supreme Court rulings on pipelines and federal efforts to speed up medical device payments.

• Opinion | A Dispiriting Airline Bailout — Wall Street Journal -
• Opinion | The Treasury Can Set Citgo Free — Wall Street Journal -
• Weed Is No Longer So Bad, U.S. Says — Wall Street Journal -

• Griffin’s Citadel criticises Mamdani for using his penthouse to sell New York tax plan — Financial Times -
• New Gene Therapy Enables Children With a Rare Form of Deafness to Hear — The New York Times Business -
• Congress May Finally Recognize That Mobile Homes Aren’t Really That Mobile — The New York Times Business -
• Ken Griffin Pushes Back After Mamdani Features His $238 Million Penthouse in Tax-the-Rich Video — Wall Street Journal -
• Supreme Court Rejects Oil Company Argument in Fight Over Great Lakes Pipeline — The New York Times Business -
• DOJ Met With TV Station Executives as Part of Sports TV Probe — Wall Street Journal -
• Why the U.S. Is Such an Outlier on EVs — Wall Street Journal -
• US to speed up payments for new medical devices — Financial Times -
• Inside the White House Deliberations Over Rescuing Spirit Airlines — Wall Street Journal -

Beyond direct conflict, global business relations are active, including a US soldier charged with prediction-market bets on Venezuela, China's growing brand influence in Indonesia, Japan's move to block foreign takeovers, and discussions about EU expansion with fishing policy exceptions for Iceland.

• US soldier charged with making prediction-market bets on Maduro’s seizure — Financial Times -
• The welcome return of German military might — Financial Times -
• Tanzania inquiry finds more than 500 people died in election violence — Financial Times -

• South Africa’s new Trump whisperer — Financial Times -
• How many people would Reform UK deport? — Financial Times -
• Populist party Vox demands ‘Spaniards first’ in coalition talks — Financial Times -
• As U.S. Brands Stumble, China Wins Over Young Indonesians — The New York Times Business -
• Some Labubu Dolls Contain Cotton Banned By Forced Labor Law, Testing Shows — The New York Times Business -
• Medical data of 500,000 people in UK for sale on Chinese site — Financial Times -
• Europe’s resistance to Chinese investment has stalled — Financial Times -
• Japan moves to block foreign takeover deal on national security grounds — Financial Times -
• Brussels set to lure Iceland into EU with fishing policy exceptions — Financial Times -
• Modi battles for control of India’s Apple heartland — Financial Times -
• A central banking star comes home — Financial Times -
• Partitions and permit delays: the UK law firms sticking with China — Financial Times -

The media landscape is undergoing significant transformation, highlighted by Warner Bros. Discovery shareholders approving the Paramount deal, Bob Iger's return to venture capital, and new ventures in Washington newsrooms, alongside updates on the Michael Jackson biopic.

• Bob Iger Returning to Joshua Kushner’s Thrive in Post-Disney Move — Wall Street Journal -
• Warner Bros. Discovery Shareholders Approve Paramount Deal — The New York Times Business -
• Warner Bros shareholders approve $111bn Paramount deal — Financial Times -

• Warner Bros. Discovery Stockholders Approve Paramount Deal — Wall Street Journal -
• The Billionaire Trying to Build the ‘Next Great Washington Newsroom’ — Wall Street Journal -
• Controversies and Production Issues Around ‘Michael,’ the Jackson Biopic, Explained — The New York Times Business -

Unusual market events include alleged tampering with weather data for Polymarket bets, transportation safety concerns from the LaGuardia jet crash, and evolving lifestyle economics like adults 'pregaming' due to expensive drinks, reflecting a broader range of social and economic narratives.

• Missing Safety Technology Might Have Prevented LaGuardia Jet Crash, NTSB Says — Wall Street Journal -
• How We Cover the White House Correspondents’ Dinner — The New York Times Business -
• Did a Mystery Trader Tamper With the Temperature to Win Big on Polymarket? — Wall Street Journal -

• French weather service alerts police to tampering after suspicious Polymarket bets — Financial Times -
• Half of EU banks bereft of female executives — Financial Times -
• The best exhibitions to see in London this weekend — Financial Times -
• How did a film about kabuki break box-office records in Japan? — Financial Times -
• Drinks Are So Expensive That Grown-Ups Are Pregaming Like They Did in College — Wall Street Journal -
• Economic pessimism plagues UK youth — Financial Times -
• The best finds from Milan Design Week — Financial Times -
• Beyond Marrakech — and into the Atlas on horseback — Financial Times -