Stock markets steady after Fed signals rates on hold until autumn
Equities held gains as investors recalibrated expectations following the central bank's latest meeting minutes.
Markets
Business
Business briefing
Remote work policies harden as firms enforce return-to-office mandates
Major employers are tying promotion and bonus eligibility to in-office attendance, reshaping urban property demand.
Workplace
Costly fuel pushes more families toward electric cars
Higher pump prices are strengthening the case for electric vehicles in cities with better charging access.
Energy
Green hydrogen costs fall faster than expected, reshaping energy bets
Falling electrolyser prices and new subsidy structures are making clean hydrogen viable for steel and shipping.
Energy
Global trade routes shift as shipping costs hit two-year high
Container lines are rerouting through longer paths as port congestion and conflict risks reshape logistics.
Trade
World of business
Corporate bond issuance hits quarterly record as firms rush to lock in rates
Investment-grade companies issued more than $800bn in bonds as corporate treasurers accelerated financing plans ahead of expected central bank policy shifts.
Markets
Private equity groups return to dealmaking as credit markets reopen
Buyout firms that sat on the sidelines through 2025 are moving quickly on mid-market acquisitions as lending conditions ease and sellers adjust their price expectations.
Luxury goods sector faces longest slowdown in two decades as Chinese spending stalls
The world's biggest luxury groups are cutting wholesale orders and trimming store expansion plans after Chinese consumer confidence fell to its lowest level since 2020.
Oil majors write down $40bn in assets as energy transition reshapes long-term valuations
The five largest listed oil companies have collectively reduced the book value of their fossil fuel reserves, signalling a structural shift in how the sector prices long-dated extraction projects.
Central banks quietly diversify reserves away from dollar-denominated bonds
A confidential IMF survey reviewed by this publication shows sixteen central banks have reduced their US Treasury holdings by a combined $380bn over the past eighteen months.
The bottom line
Amazon's logistics arm breaks even for first time, threatening third-party carriers
The retail giant's in-house delivery network reached profitability in Q1, a milestone that analysts say signals the end of Amazon's reliance on FedEx and UPS for last-mile fulfilment.
Trade
Also worth watching
Sovereign wealth funds pour record capital into infrastructure as yields compress
State-backed investors from the Gulf and Asia have committed more than $120bn to roads, ports and data centres in the first half of 2026, drawn by long-duration returns in a lower-rate environment.
Finance
Chipmakers warn of second inventory glut as AI server demand plateaus
Leading semiconductor manufacturers say orders for data-centre chips have softened sharply since March, raising fears of a repeat of the 2023 inventory correction that wiped billions from sector valuations.
Semiconductors
Private credit funds surpass $2 trillion as banks retreat from leveraged lending
Non-bank lenders have filled the gap left by stricter bank capital rules, with direct lending funds now commanding higher fees and tighter covenants than any point since 2010.
Finance
Global shipping rates double in six weeks as Red Sea rerouting strains capacity
Container spot rates on Asia-Europe lanes have surged back toward pandemic-era highs as vessels continue taking the longer Cape of Good Hope route, adding two weeks to transit times.
Trade
Work, companies and capital
Pension funds rotate billions into private credit as bond yields plateau
Major pension managers are moving allocations away from government debt and into direct lending funds, chasing higher yields as rate expectations stabilise.
Finance
OPEC+ agrees surprise output increase to cool oil price spike
The alliance voted to raise production by 400,000 barrels per day after Brent crude briefly topped $95, drawing criticism from members who had pushed for restraint.
Energy
Apple India sales surge 34% as local manufacturing expands to new product lines
The company's fastest-growing major market is now producing iPhone Pro models domestically, helping Apple cut its dependence on Chinese supply chains.
Trade
More business
Economy
US consumer inflation cools more than expected, opening door to rate cuts
April's CPI reading came in at 2.3%, below all major forecasts, prompting traders to price in two Federal Reserve cuts before year-end.
EconomyEconomy
Goldman Sachs lifts global growth forecast after strong Asia data
The bank now projects world GDP growth of 3.1% for 2026, up from 2.8%, driven by better-than-expected output from India, Vietnam and Indonesia.
EconomyEnergy
Carbon credit prices hit two-year high as compliance deadlines near
European and voluntary market carbon prices have climbed sharply as corporations face regulatory deadlines and investors bet on tighter supply caps from 2027.
EnergyRetail
E-commerce growth slows globally as post-pandemic spending normalises
Online retail sales are growing at their slowest annual pace since 2015 as consumers return to physical stores and tighten household budgets.
RetailFinance
UK commercial property records first price rise in three years
Office and logistics valuations ticked up 0.4% in April, the first positive monthly reading since the rate-hiking cycle began, as investors return to the sector.
Finance
