The ongoing Iran conflict is causing significant ripple effects across the globe, impacting jet fuel availability and travel costs, threatening Gulf oil supplies, and leading to Asian refineries slashing output, affecting corporate profits like P&G and SLB while boosting oil and gas companies such as Eni, with the Bank of Japan even postponing rate hikes due to regional uncertainty, and China accelerating its currency push to sidestep sanctions.

• How Jet Fuel Shortages Could Affect Summer Travel to Europe and Beyond — The New York Times Business -
• How quickly can Gulf oil start gushing again? — Financial Times -
• Witkoff and Kushner to travel to Islamabad as hopes rise for Iran peace talks — Financial Times -

• The narrow path to a US-Iran deal — Financial Times -
• The Peril of Piloting Ships Through the Strait of Hormuz — The New York Times Business -
• Law firms push staff to return to UAE offices as ceasefire holds — Financial Times -
• P&G warns of $1bn hit from Iran war after failing to hedge oil exposure — Financial Times -
• Persian Gulf Oil Damage Will Ripple Long Past the End of the War — Wall Street Journal -
• Asian refineries slash output as Iran crisis chokes crude supplies — Financial Times -
• Ignoring the War Has Been Working for Long-Term Investors — The New York Times Business -
• War Buoys Arms Makers’ Sales, but Not Their Stocks — Wall Street Journal -
• SLB Profit Falls as Iran War Disrupts Operations, Clouds Outlook — Wall Street Journal -
• British retail sales rose 0.7% in March as motorists stocked up on petrol — Financial Times -
• Eni Hikes Buyback as Higher Energy Prices Offer Cash Windfall — Wall Street Journal -
• Bank of Japan to postpone April rate rise amid Iran uncertainty — Financial Times -
• War and Sanctions Accelerate China’s Currency Push — The New York Times Business -
• Singapore turns to Russian fuel oil as war restricts Middle Eastern supplies — Financial Times -

The AI sector continues to see massive investment, with Google committing to Anthropic and Amazon-backed X-energy's IPO surging, while Intel shares have soared past dot-com era highs due to the AI boom; however, concerns are rising over AI data center emissions and China's alleged industrial-scale theft of AI technology, prompting start-up mergers and belt-tightening at established tech giants.

• X-Energy’s Shares Jump in IPO, Delivering Wins to Amazon and Ken Griffin — Wall Street Journal -
• Amazon-backed nuclear developer X-energy surges 27% in trading debut — Financial Times -
• Google to invest up to $40bn in Anthropic — Financial Times -

• AI data centre emissions vastly underestimated, UK admits — Financial Times -
• Intel shares surge on AI boom to surpass dotcom bubble high — Financial Times -
• The Apple juggernaut and the AI roadblock — Financial Times -
• Investors push for higher yield on $14bn of Oracle-backed data centre debt — Financial Times -
• DeepSeek’s Sequel Set to Extend China’s Reach in Open-Source A.I. — The New York Times Business -
• A.I. Start-Ups From Canada and Germany Merge to Take On Silicon Valley — The New York Times Business -
• A.I. Is Forcing More Belt-Tightening at Big Tech — The New York Times Business -
• White House accuses China of ‘industrial-scale’ theft of AI technology — Financial Times -
• Therapy company mixes emotional and artificial intelligence to top ranking — Financial Times -
• AI and defence companies dominate US growth investment — Financial Times -
• Sam Altman’s Next High-Wire Act: Getting OpenAI to Make More Money — The New York Times Business -
• Banks charged sharply different fees for access to Anthropic investment — Financial Times -
• China’s own Mythos is coming — America must prepare — Financial Times -

US economic policy is seeing significant movement with the Justice Department dropping its criminal probe into Fed Chair Jerome Powell, clearing the path for Kevin Warsh's nomination to lead the central bank, potentially leading to major overhauls of the Fed's financial footprint; meanwhile, former President Trump's influence remains prevalent, from his family's involvement in prediction markets to his administration's tariffs, which are now seeing **$166 billion in refunds** primarily benefiting businesses, not consumers.

• The ‘Lasting Damage’ of Pirro’s Investigation of the Federal Reserve and Powell — The New York Times Business -
• With Powell’s Probe Dropped, All Eyes on Warsh’s Fed Nomination — Wall Street Journal -
• US prosecutors drop criminal probe into Fed chair Powell — Financial Times -

• Justice Department Drops Criminal Investigation of Fed Chair Jerome Powell — The New York Times Business -
• Sidestepping — Financial Times -
• End of Powell probe sets stage for Warsh’s rapid confirmation — Financial Times -
• How Kevin Warsh Could Shrink the Fed’s Footprint in Financial Markets — The New York Times Business -

Corporate earnings reports reveal mixed results, with Charter Communications' stock dropping on tempered expectations and Electrolux shares plunging due to net losses, while SAP's cloud business showed resilience, and **Volvo and Kuehne + Nagel** raised parts of their earnings guidance; the financial sector is also witnessing remarkable achievements, with **trading firm Jane Street doubling annual revenues to $40 billion, highlighting a potentially golden age of arbitrage**.

• US stocks race ahead of Europe as Wall Street shrugs off energy shock — Financial Times -
• Charter Stock Drops More Than 25% After Company Tempers Full-Year Expectations — Wall Street Journal -
• A non-comprehensive list of companies that made less money than Jane Street last year — Financial Times -

• Trading firm Jane Street doubles annual revenues to $40bn — Financial Times -
• The golden age of arbitrage has begun — Financial Times -
• Western Union Profit Falls as Immigration Policy Hurts Remittances — Wall Street Journal -
• Norfolk Southern Profit Falls Amid Volatile Macro Environment — Wall Street Journal -
• Big Four’s shrinkage at the top presages weakness at the bottom line — Financial Times -
• Why do I have so much in UK equities? — Financial Times -
• Electrolux Shares Plunge on Net Loss, Nearly $1 Billion Share Issue — Wall Street Journal -
• SAP Shares Climb on Cloud Business Resilience — Wall Street Journal -
• Kuehne + Nagel Lifts Lower-End of Earnings Guidance — Wall Street Journal -
• Volvo Reports Rising Truck Demand Across Major Markets — Wall Street Journal -

Ethical concerns and regulatory actions are making headlines, from product recalls of heated socks by Costco due to burn reports, to animal welfare issues in Orlando where 31 sloths died in unauthorized conditions, and a judge sanctioning a plaintiff and lawyer in a suit against billionaire Leon Black; furthermore, prediction markets are under intense scrutiny following the arrest of a US soldier for insider trading and an investigation into unusual betting spikes on Paris temperatures, while Elon Musk's use of SpaceX to benefit his other businesses is also being examined, and forced labor cotton was found in popular Labubu dolls.

• 31 Sloths Acquired by an Orlando Animal Attraction Died, Officials Say — The New York Times Business -
• Inside Trump and David Ellison’s Private Party in Washington — The New York Times Business -
• Over 200,000 Heated Socks Sold at Costco Recalled After Reports of Burns — The New York Times Business -

• Judge Imposes Sanctions on Plaintiff and Her Lawyer in Suit Against Billionaire Leon Black — The New York Times Business -
• Trump Says He Dislikes Prediction Markets. His Family Invests in Them. — The New York Times Business -
• Some Labubu Dolls Contain Cotton Banned by Forced Labor Law, Testing Shows — The New York Times Business -
• What Are Prediction Markets, and Why Are They Causing Controversy? — The New York Times Business -
• Pentagon Fires Stars and Stripes Newspaper’s Ombudsman — The New York Times Business -
• EU opens Mandelson fraud investigation — Financial Times -
• US health secretary’s son launches investment fund tied to health movement — Financial Times -
• UK Biobank says security checks not imposed because of ‘harms’ to research — Financial Times -
• Arrest of U.S. Soldier Signals Polymarket’s Wild-West Days Are Ending — Wall Street Journal -
• As Trump Officials Pushed Health Savings Accounts, RFK Jr. Aide Ran Wellness Company Poised to Benefit — The New York Times Business -
• Polymarket Bets on Paris Temperature Prompt Investigation After Unusual Spikes — The New York Times Business -
• Tariffs Raised Consumers’ Prices, but the Refunds Go Only to Businesses — The New York Times Business -
• How Elon Musk Used SpaceX to Benefit Himself and His Businesses — The New York Times Business -
• Who’s Getting a Tariff Refund? — The New York Times Business -
• Companies, Not Consumers, to Cash In Big From Tariff Refunds — The New York Times Business -
• How Elon Musk Used SpaceX to Benefit Himself and His Businesses — The New York Times Business -
• Soldier Used Classified Information to Bet on Maduro’s Ouster, U.S. Says — The New York Times Business -

Global trade and diplomatic relations are highlighted by a Chinese bid for a UK chemical plant raising competition concerns and Ford engaging in talks with China's Geely about bringing Chinese tech to America, while Canada seeks access to Europe's 'Made in Europe' scheme; Poland's Prime Minister questions US loyalty to Europe's defense, and the Falklands' sovereignty is re-affirmed after a leaked memo, all against a backdrop of Trump and China vying for influence in Latin America.

• Texas’s governor threatened to pull World Cup grants in battle over ICE enforcement — Financial Times -
• Sovereignty of Falklands ‘not in question’, says Number 10 after leaked US memo report — Financial Times -
• Ford, Geely Held Talks About Bringing Chinese Tech to America — Wall Street Journal -

• Trump tracker: the latest data on US tariffs, trade and economy — Financial Times -
• Russian oilman tried to buy golf course on railway to British nuclear site — Financial Times -
• Chinese Cars Go American With ‘Brutish’ SUVs and Trucks — Wall Street Journal -
• Trump and China vie for influence in Latin America — Financial Times -
• Polish PM questions whether US is ‘loyal’ to Europe’s defence — Financial Times -
• FirstFT: Poland’s Donald Tusk casts doubt on US defence pledge to Europe — Financial Times -
• Chinese bid for UK chemical plant condemned as threat to competition — Financial Times -
• Canada to seek access to ‘Made in Europe’ scheme — Financial Times -

The media and entertainment sector is experiencing significant shifts, with Hollywood writers approving a new four-year deal, avoiding a repeat of past strikes, and Amazon launching 'Kelce Land' as it reconfigures its podcast strategy; meanwhile, right-wing media continues to draw attention with a comedian potentially overseeing Infowars, and Donald Trump's influence on America's media landscape is still being examined, while the Sphere in Las Vegas has surprisingly become a huge financial hit.

• Hollywood Writers Approve Four-Year Deal With Studios — Wall Street Journal -
• It Was Just a Podcast. Now, It’s Kelce Land. — The New York Times Business -
• Meet the Comedian Poised to Oversee Right-Wing Infowars — Wall Street Journal -

• Donald Trump and the remaking of America’s media order — Financial Times -
• The Sphere Looked Like a Disaster. It’s Become a Huge Hit Instead. — Wall Street Journal -

Across various industries, innovation and growth trends are shaping the business landscape, from the rise of Texas as a new tech hotspot attracting 'startup cowboys,' to Porsche's strategic divestments to focus on its core business, and the emergence of new engine technologies challenging the internal combustion paradigm; the Americas' fastest-growing companies are being recognized, showcasing resilience amidst turbulence, and philanthropic efforts like those by Jeff Bezos are supporting sustainable fashion initiatives.

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -

• $450 Million Worth of Newhouse Trophies Come to Christie’s — The New York Times Business -
• Why Everyone, Including Trump, Is Talking About Airline Mergers — The New York Times Business -
• ‘Startup Cowboys’ Are Making This Texas Town the New Tech Hotspot — Wall Street Journal -
• A Radical New Engine Shows Why Internal Combustion Still Matters — Wall Street Journal -
• The Americas’ Fastest-Growing Companies — Financial Times -
• How The Americas’ Fastest-Growing Companies find a way to thrive — Financial Times -
• The companies thriving in turbulent times for IT and software — Financial Times -
• Innovative tech shakes up wealth management in Canada — Financial Times -
• Porsche to Sell Its Stakes in Bugatti Joint Venture and Rimac — Wall Street Journal -
• Jeff Bezos and Lauren Sánchez Bezos Donate $34 Million in Fashion Grants — Wall Street Journal -