UBS Group reported Q1 2026 net profits of $3 billion, an 80% year-over-year increase, as geopolitical tensions in the Middle East drove trading volumes higher. Shares jumped 5% following the announcement.
Finnish elevator giant Kone announced a $34.4 billion acquisition of German rival TK Elevator, marking one of Europe’s largest takeovers in recent years and creating the world’s largest elevator manufacturer.
The Fed is expected to keep interest rates unchanged at its April meeting, which could be Chair Jerome Powell’s last, as Kevin Warsh’s confirmation process advances in the Senate.
Nasdaq and S&P 500 close lower on Tuesday as concerns over AI growth prospects and oil prices above $112 weigh on markets ahead of Big Tech earnings.
The Association of Value Airlines, representing Spirit, Frontier, Allegiant, and Breeze, is seeking $2.5 billion in federal aid as the Iran war drives jet fuel prices to crippling levels for discount carriers.
The UAE will leave OPEC and OPEC+ next month, ending nearly 60 years of membership in what analysts describe as a major blow to the cartel.
The United Arab Emirates announces its withdrawal from the Organization of the Petroleum Exporting Countries, saying the move will help it meet growing global energy demand. Analysts describe it as the beginning of OPEC’s decline.
The UAE officially announces its withdrawal from OPEC and OPEC+, dealing a major blow to the oil cartel amid escalating regional tensions.
Following WSJ’s report that OpenAI missed key revenue and user growth targets, stocks of AI infrastructure companies Oracle, AMD, and CoreWeave fell sharply.
British Petroleum reports profits more than doubling year-over-year in its first quarter, driven by soaring global oil prices amid the Iran conflict.