Berkshire Hathaway holds its first annual shareholder meeting in Omaha without Warren Buffett. Successor CEO Greg Abel receives positive reviews. Q1 profits surge as cash reserves hit $397 billion.
The United States has imposed sanctions on five Chinese companies involved in Iranian oil trade as part of its pressure campaign on Iran. China’s Ministry of Commerce responded with a blocking order, directing Chinese firms not to recognize, implement, or comply with US sanctions.
China’s Ministry of Commerce declares US sanctions against five ’teapot’ refineries violate international law, escalating Sino-US tensions over Iranian oil imports.
Ultra-low-cost carrier Spirit Airlines officially ceases operations on May 1, marking another major setback for the US aviation industry’s post-pandemic recovery.
At Berkshire’s first annual shareholder meeting after Buffett’s retirement, investors gave strong approval to successor Greg Abel’s ‘Narrow AI’ strategic direction.
Amazon Web Services data centers in the UAE and Bahrain suffered damage from the Middle East conflict, with full restoration expected to take up to six months. Initial losses estimated at $150 million.
OPEC+ holds its first ministerial meeting since the UAE’s surprise withdrawal, attempting to demonstrate unity amid the Strait of Hormuz crisis.
Spirit Airlines has ceased all operations, becoming the first major airline to collapse amid soaring fuel prices triggered by the Iran war, disrupting millions of passengers.
US Commerce Department data shows Q1 2026 GDP grew 2%, recovering from the prolonged federal government shutdown. However, soaring energy prices and supply chain disruptions caused by the Iran war cast uncertainty over the economic outlook for the second half of the year.
The MAHA movement led by US Health Secretary Robert F. Kennedy Jr. is pushing for a strict definition of ‘ultraprocessed foods,’ potentially bringing some yogurts and peanut butters under regulatory scrutiny, drawing widespread attention from the food industry.