Latest Business News
Oil Prices Surge as Trump Escalates Threats Before Iran Deadline
U.S. crude rose to $112.79 a barrel and Brent to $110.00 amid Trump's deadline for Iran to reopen the Strait of Hormuz or face bombings of power plants and bridges. Hormuz traffic hits highest in weeks as transits are agreed, but uncertainty persists over the Middle East war's impact on global oil flows.
Stocks whipsaw while oil majors gain.
Global Shares Mixed Ahead of Trump's Iran Oil Route Deadline
Asian shares mostly higher with Australia's S&P/ASX 200 up 1.7% to 8,728.80 and South Korea's Kospi advancing 0.8% to 5,494.78. Japan's Nikkei gained less than 0.1% to 53,429.56 while U.S. futures edged up slightly.
Trading cautious as oil surges shake world economy.
Samsung Posts Eight-Fold Profit Increase on AI Chip Sales
Samsung reported a record profit beat driven by booming AI chip demand, sending shares higher. The surge highlights strength in semiconductors amid global tech competition.
AI chip sales are a key growth driver.
Inflation Accelerates to 4.1% in March Amid Iran War Pressures
Inflation hit 4.1% reflecting early shocks from the Iran conflict and rising fuel costs. Households face deeper economic strain with higher prices.
Thailand and Philippine CPI data due as war pushes prices higher.
Trump Vows to Destroy Iran Assets If No Hormuz Deal Reached
Trump insists on Strait of Hormuz opening and threatens Iran's power plants and bridges if deadline unmet. Iran rejected ceasefire proposals, seeking permanent war end.
UK to host Hormuz safe passage meeting.
Private Credit Lags Banks as Blue Owl Hits Record Low
Blue Owl closes at record low amid private credit exodus, lagging traditional banks. Jamie Dimon warns on private credit risks.
Sector faces outflows despite broader market moves.
Japan Households Cut Spending Despite Wage Gains
Japan's households reduced spending even after wages advanced, signaling caution. This comes amid rising oil prices from Iran tensions.
Economic outlook pressured by global fuel fallout.
Broadcom Announces Major Deals with Google and Anthropic
Broadcom reveals deals with Google and Anthropic, boosting chip sector momentum. Arms shifts from chip designer to maker in related moves.
Samsung's AI chip success underscores tech resilience.
US AI Labs Unite to Counter Chinese Competitors
U.S. AI laboratories collaborate to clamp down on Chinese rivals amid escalating tech rivalry. This follows Samsung's profit surge from AI chips.
Broader implications for global semiconductor markets.
AirAsia Raises Fares 40% and Cuts Flights on Fuel Costs
Budget airline AirAsia hikes fares up to 40% and reduces flights due to soaring fuel from Iran war. Higher costs threaten tourism recovery and travel.
Global airlines warn of summer shortages if tensions persist.
Pershing Square Offers to Buy Universal Music Group
Pershing Square proposes acquisition of UMG, drawing attention to media assets. Deal highlights investor interest in entertainment amid market volatility.
Stocks to watch include UMG alongside oil and chips.
AC Health Expands Amid Rising Healthcare Sector Pressures
AC Health grows despite mounting costs from inflation and war-related strains. CEO Paolo Borromeo discusses industry challenges and opportunities.
Expansion reflects resilience in healthcare delivery.