WORLD
Asia stocks muted as crude oil slumps after OPEC+ plan
Crude oil fell 3.4% after the group of oil-producing nations continued an accelerated revival of supply that’s sent prices plunging
BUSINESS
Oil sinks as OPEC+ supply surge threatens to swamp global market
Global benchmark Brent tumbled by as much as 4.6% toward $58 a barrel as the week’s trading kicked off, while West Texas Intermediate was near $56.
WORLD
Donald Trump rules out firing Jerome Powell while pushing him to cut rates
Donald Trump said in the interview taped Friday that Powell doesn’t want to cut rates because he’s not a fan of mine
WORLD
US approves up to $350 million in Ukraine F-16 training, support
Ukraine’s F-16 fighter jets, made by Lockheed Martin Corp. and supplied by NATO nations including Denmark and the Netherlands, are among traditional weapon systems the country sought from the US and allies during its fight against Russia since 2022.
BUSINESS
Jeff Bezos discloses plan to sell up to 25 million Amazon shares
Jeff Bezos adopted what’s known as a 10b5-1 trading plan on March 4, which entitles the Amazon co-founder to sell until May 29, 2026, according to a Friday filing
WORLD
Trump deportations under wartime law blocked by US judge
The decision on Thursday marks the biggest setback yet for Trump’s effort to unilaterally deport suspected gang members under the rarely used Alien Enemies Act of 1798.
BUSINESS
Tesla board in spotlight after cashing in $1.2 billion with Elon Musk
Denholm has sold $558 million worth of stock since 2020, according to data compiled by Bloomberg, building a fortune she’s described as “life-changing.” That’s almost half the $1.2 billion worth of shares sold by Tesla’s current directors in that span.
BUSINESS
Apple says tariffs will add $900 million in costs this quarter
“This estimate should not be used to make projections for future quarters, as there are certain unique factors that benefit the June quarter,” Tim Cook cautioned.
BUSINESS
Microsoft raises Xbox and game prices, citing rising costs
The company’s Xbox Series S 512GB console will cost $380, an increase of $80. The more powerful Series X console will sell for $600, a jump of $100. Controller and headset prices are also increasing.
BUSINESS
Apple renews fears about tariffs, China slump with wobbly report
BUSINESS
Japan’s Kato says US treasury holdings could be negotiation card
Kato also said that Japan doesn’t hold US Treasuries to specifically support the US. Japan’s chief negotiator Ryosei Akazawa is in Washington for a second round of talks this week with his US counterparts, as countries around the world watch to see where the negotiations end up.
BUSINESS
OpenAI can’t dodge Musk’s fraud claims in restructuring suit
Musk has alleged the alliance OpenAI built with Microsoft after he left the startup’s board in 2018 is a bid to dominate the generative AI industry that threatens free market competition by rivals.
WORLD
Trump tariffs: China says it’s evaluating US talks after weeks of stalemate
“The US has recently sent messages to China through relevant parties, hoping to start talks with China,” commerce ministry added. “China is currently evaluating this.”
BUSINESS
Yellen warns US recession risk is ‘way up’ after Trump’s tariffs
Yellen — who also served as Treasury Secretary under Joe Biden — is the latest to warn of a rising risk of recession after US business and consumer confidence surveys tumbled in response to the tariffs.
WORLD
Big price hikes undercut Trump bet China will absorb tariffs
A swathe of products on e-commerce giants like Temu and Shein Group Ltd. have seen prices soar in the US. A set of kitchen cleaning towels selling for $1.28 on April 24 set the outer limit with a 377% jump to $6.10 a day later.
BUSINESS
Microsoft’s shares surge on strong quarterly cloud sales growth
WORLD
Trump says he deserves a ‘pass’ as data shows GDP contracted
Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3%.
WORLD
US has reached out to China to initiate tariff talks, China Central Television says
Trump Wednesday expressed confidence he would eventually speak with Xi, despite the Chinese leader’s reluctance to engage directly with his counterpart. “It’ll happen,” Trump said.
BUSINESS
Starbucks seeks to slash million-dollar store renovation costs
Starbucks had been spending $800,000 to $1 million for each store remodel, Chief Executive Officer Brian Niccol told staff in a companywide meeting, according to a recording viewed by Bloomberg News.
WORLD
Trump barely defeats challenge to his tariff war in Senate
The Senate tied 49-49 in a Wednesday vote on a resolution to end the barrage of import taxes the president announced earlier this month on China and most other US trading partners.
WORLD
Donald Trump says tariffs politically risky, but he’s not rushing deals
Trump went on to agree there was a significant political risk to his efforts, and that they could result in Republicans losing control of the House of Representatives in the midterm elections if those perceptions don’t change — but said he remained determined to push on.
BUSINESS
Tesla chair Robyn Denholm says report of CEO search to replace Elon Musk ‘false’
Tesla Inc. Chair Robyn Denholm, who rarely if ever comments publicly on Tesla, went on to say that the board is confident in Musk’s ability to “continue executing on the exciting growth plan ahead.”
WORLD
Google’s Sundar Pichai calls US remedies ‘de facto’ spinoff of search
Sundar Pichai, 52, has spent the majority of his career at Google, starting as a product manager in 2004 and rising through the ranks to become CEO of the company in 2015
BUSINESS
Pakistani assets set for worst month since 2023 on escalating tensions
Dollar bonds have handed investors a loss of nearly 4% this month, while equities are down almost 3%. Meanwhile, Indian assets are proving relatively immune for now with stocks and local bonds up this month.
