Track the evolution of major financial and economic events
The U.S. national debt has surpassed 100% of GDP in a major fiscal milestone. On April 30, the federal debt exceeded the size of the national economy, marking a significant stage in the financial policy of the United States.
Global rice supply is expected to decline this year as Asian farmers reduce planting acreage due to fertilizer shortages and soaring fuel costs. Additionally, the Iran war and the emerging El Nino are set to further squeeze the output of the world's most consumed staple.
On April 30, Trump revealed that he discussed a ceasefire in Ukraine with Russian President Vladimir Putin. On May 5, Russia announced it would observe a ceasefire with Ukraine on May 8 and 9, while Zelensky announced an earlier ceasefire starting on May 5-6. On the same day, the Russian military warned of major attacks on Kyiv if Ukraine targeted Moscow during Victory Day celebrations, and a Ukrainian drone hit a high-rise apartment building in Moscow.
The U.S. economy began 2026 slowly but demonstrated strength at the end of the first quarter despite the geopolitical conflict with Iran. This resilience indicates the economy's ability to adapt to challenging conditions.
The Senate Banking Committee approved Kevin Warsh's nomination to lead the Federal Reserve in a 13-11 party-line vote. This nomination comes as Warsh faces external political pressures and energy shocks, while Jerome Powell warns that the central bank's independence is 'at risk.' The Federal Reserve is expected to start cutting interest rates next year, but inflation concerns remain high.
Apple Inc. announced a leadership shake-up with Tim Cook exiting and John Ternus stepping in as CEO. The company faces challenges related to the end of the iPhone replacement cycle, yet iPhone sales reached $56.99 billion, contributing to total quarterly sales of $111 billion. Financial results showed strong optimism with robust revenue and profit growth, leading to a surge in stock prices. Tim Cook warned of intensifying memory constraints and indicated that Apple may consider options like raising prices or signing longer supplier agreements.
Kone is nearing a cash-and-stock deal to acquire its German rival TK Elevator. The potential deal is valued at approximately $34 billion according to media reports.
Gulf leaders convened in Saudi Arabia on April 28 to discuss a coordinated response to Iranian strikes. On April 29, the U.S. Treasury warned financial institutions about sanctions risks linked to Chinese refineries, as China purchases about 90% of Iran's oil exports. Tensions escalated with the U.S. conducting military strikes against Iran, while Iran proposed ending the war and lifting sanctions. On May 20, Xi Jinping called for a 'comprehensive ceasefire' in the Middle East.
On April 28, WEX reported an 18.2% increase in adjusted earnings per share to $4.15 for the first quarter of 2026. Loop Capital initiated coverage on WEX with a Buy rating and a price target of $195.00. Additionally, the company raised its 2026 financial guidance and announced plans for $50 million in cost savings.
On April 27, the US 10-year break-even inflation rate is nearing 2.5%. Inflationary pressures are intensifying due to the ongoing closure of the Strait, impacting maritime supply chains.
The Indian rupee recorded its sharpest weekly drop in over three years, depreciating by 1.42% for the week ending April 27. The USD/INR currency pair is expected to open between 94.26 and 94.30 on Monday.
On April 24, Chinese regulators instructed private tech firms to reject U.S. investment in funding rounds unless explicitly approved by the government. The guidance targeted AI startups including Moonshot AI and StepFun, as well as TikTok owner ByteDance regarding secondary share sales. These measures followed Meta's acquisition of AI startup Manus for over $2 billion, which triggered national security investigations. On April 27, China prohibited foreign acquisition of Manus and ordered involved parties to cancel the transaction. Additionally, Chinese battery maker CATL launched a $5 billion share offering in Hong Kong.
Electrolux shares fell by 23% during European morning trading on April 24 following the announcement of a net loss. The company also announced plans for a share issuance worth nearly $1 billion.
On April 24, Elon Musk's SpaceX secured a $20 billion bridge loan to refinance a large portion of its existing debt. This financing replaces five existing debt facilities to provide greater flexibility ahead of a planned US IPO.
Canadian producer prices surged in March, driven by a record increase in energy product prices. The escalation of the Iran war also led to significant price hikes for chemicals and energy products.
On April 23, the Bangko Sentral ng Pilipinas (BSP) initiated a new hiking cycle with a surprise 25bp rate increase. The central bank also revised its inflation forecasts higher due to rising oil prices and geopolitical risks.
On April 23, Warner Bros. Discovery shareholders are expected to back Paramount Skydance's offer on Thursday. The offer from Paramount is valued at approximately $81 billion.
Reconstruction costs in Iran are estimated at approximately $270 billion, according to experts. Satellite analysis indicates that more than 7,600 buildings nationwide have been damaged or destroyed. Additionally, inflation in Iran is expected to rise above 70% due to the conflict.
U.S. Attorney Jeanine Pirro confirmed that the investigation into the Federal Reserve is ongoing despite legal challenges. The Department of Justice plans to appeal a judge's order that blocked subpoenas issued to Fed Chairman Jerome Powell. This probe is jeopardizing the confirmation of Kevin Warsh, President Trump's nominee to replace Jerome Powell.
Corie Barry has stepped down as CEO of Best Buy after years of sluggish growth. Jason Bonfig, a longtime executive at the electronics retailer, has been named her successor.
Gold Fields announced the success of its Salares Norte project, reaching steady-state operations with a production of 397 Koz in 2025. The company achieved an 18% increase in production for the same year, with an adjusted Free Cash Flow of $2.97 billion. Gold Fields also implemented a dividend policy targeting 35% of Free Cash Flow.
On April 21, Society Pass Incorporated received a formal delinquency notice from Nasdaq regarding listing requirements. The company operates as an e-commerce ecosystem in Southeast Asia and is listed under the ticker SOPA.
Alibaba is facing pressure on profit margins due to rising costs and heavy investments in AI and logistics. Profits and cash flow dropped sharply in Q3 FY26. On April 22, Tencent and Alibaba entered talks to invest in the AI startup DeepSeek, which is seeking funding at a valuation exceeding $20 billion.
CrossCountry Mortgage will acquire Two Harbors Investment Corp for $10.80 per share in an all-cash deal. All preferred shares will be redeemed at $25 plus accrued dividends, with Series C offering a 10% yield to maturity. The deal is expected to close by September 2026 following a failed previous merger attempt with UWMC.
