After signing a $300-billion contract to provide cloud services to OpenAI, Oracle has committed so much money to leasing data centers that it has limited its own ability to borrow much more, The Wall Street Journal reported.
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DESPITE WAR, CORPORATE EARNINGS GROWTH “EXCEPTIONAL”
With the Iran War unsettled and consumers mired in gloom, U.S. corporations are piling up profits as fast as ever.
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U.S. CONSUMER SENTIMENT TANKS IN APRIL
U.S. households have never been as glum about the state of the economy as they were in April, according to the University of Michigan’s monthly survey of consumer sentiment.
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MARKET OVERVIEW
Once again last week, investors put their faith in new reports that peace talks between the U.S. and Iran were being planned.
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SPOTLIGHT: BIGS GETTING BIGGER
Elon Musk’s Space Exploration Technologies, known informally as SpaceX, has paid $60 billion for the right to buy AI coding startup Cursor at a future time.
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SPOTLIGHT: CLEAN ENERGY IS BACK IN FOCUS
In 2025, renewable energy systems generated more electricity than coal-fired generating stations, research organization Ember reported.
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SPOTLIGHT: PRIVATE CREDIT’S MISERY
With the markets focused on the geopolitical and socioeconomic effects of the Iran War, it has been forgotten that the equity markets were in decline before the Iran War was launched by the U.S. and Israel on 28 February.
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STELLANTIS TARGETS FOUR EUROPEAN FACTORIES FOR CHINA DEAL
Stellantis, the Dutch auto conglomerate that owns Alfa Romeo, Dodge, Jeep, Ram and 10 other vehicle brands, has chosen four European factories that it may sell to Chinese EV makers or use in partnerships with them.
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DOLLAR STABLECOINS THREATEN EMERGING NATIONS, BIS CHIEF WARNS
Stablecoins denominated in U.S. dollars are increasingly being used as the medium of exchange in international trade – a shift that risks the “dollarization” of emerging economies, weakens their ability to control their money flows, and leaves them vulnerable to criminal activity, Pierre Hernandex de Cos, general manager of the Bank for International Settlements (BIS), said in a 20 April speech.