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Israel has granted final approval to purchase two new combat squadrons of F-35 and F-15Ia fighter jets from U.S. manufacturers Lockheed Martin and Boeing. The defense ministry announced the deal on Sunday, which is valued at tens of billions of shekels and will significantly bolster Israel's air force capabilities.

• The purchase includes two squadrons combining F-35 stealth fighters from Lockheed Martin and F-15Ia jets from Boeing
• The deal is worth tens of billions of shekels, representing a major defense investment by Israel
• The approval comes amid ongoing regional tensions, as referenced by Reuters' Iran Briefing newsletter mentioned in the article

Brazilian state-run oil company Petrobras raised natural gas prices to distributors by 19.2% effective May 1, the latest energy price increase linked to the U.S.-Israeli war on Iran. The hike follows Petrobras' quarterly pricing mechanism tied to Brent crude, foreign exchange rates, and U.S. Henry Hub benchmarks.

• The 19.2% natural gas price increase was broadly expected, with industry group Abegas predicting a roughly 20% hike prior to the announcement
• This follows an 18% jet fuel price increase earlier in the week, part of a broader pattern of energy price adjustments since conflict outbreak after February
• Petrobras adjusts natural gas prices quarterly based on Brent crude prices, foreign exchange rates, and U.S. Henry Hub benchmarks

Iraq's Deputy Oil Minister stated the country can restore oil production and exports to normal levels within seven days once the Strait of Hormuz crisis ends. Production is currently at 1.5 million barrels per day, significantly reduced due to Tehran's closure of the strait during an ongoing crisis.

• Iraq is currently producing 1.5 million bpd with only 200,000 bpd exported via the Ceyhan route, bypassing the blocked Hormuz strait
• Two tankers have been prepared with two more expected, pending improved security conditions in the strait
• Recovery timeline is estimated at seven days once the crisis resolves, suggesting Iraq has contingency plans ready for rapid output restoration

Thyssenkrupp and Jindal Steel International have mutually agreed to halt negotiations over the sale of Thyssenkrupp's steel unit. The German industrial group cited significant changes to the original assumptions and prerequisites for the potential sale in recent months. The breakdown follows earlier reports of disagreements over pension liabilities, investments, and energy costs.

• Thyssenkrupp announced the mutual decision to pause sale talks with Jindal Steel International on May 2, stating that conditions have 'significantly changed in recent months'
• Reuters previously reported in March that discussions faced obstacles due to differences over pension liabilities, investments, and energy costs
• The failed negotiations mark a setback for Thyssenkrupp's efforts to divest its steel division, a key asset of the German industrial conglomerate

Berkshire Hathaway reported an 18% increase in first-quarter operating profit to $11.35 billion, driven by gains in insurance and other segments. The conglomerate's cash reserves reached a record $397.4 billion as it continued selling stocks for the 14th consecutive quarter. This marks the first quarter under new CEO Greg Abel, who succeeded Warren Buffett in January.

• Operating profit rose 18% to $11.35 billion ($7,891 per Class A share), with net income more than doubling to $10.1 billion
• Cash stake hit record $397.4 billion amid continued stock sales, selling $8.1 billion more stocks than purchased in Q1, though the company bought Occidental Petroleum's chemicals business for $9.5 billion
• Berkshire repurchased $234 million of its own stock, marking first buybacks since May 2024, while Class A shares are up 6% in 2026

Seven OPEC+ countries agreed to increase oil output by approximately 188,000 barrels per day in June, continuing planned production hikes despite the UAE's departure from the group effective May 1. The increase is largely symbolic as most shipping through the Strait of Hormuz remains halted due to the U.S.-Israeli war against Iran, which is causing more disruption than the group's official production targets.

• The June increase of 188,000 bpd is similar to April's 206,000 bpd hike minus the UAE's contribution after leaving the group
• OPEC+ is adopting a 'business-as-usual' approach despite losing a major member, signaling continuity in its gradual output expansion strategy
• The output hikes have limited real-world impact as the U.S.-Israeli conflict with Iran has disrupted most oil shipping through the critical Strait of Hormuz

Coinbase announced that a compromise has been reached on a contentious provision in landmark U.S. crypto legislation regarding stablecoin rewards, potentially clearing the path for Senate approval. The deal resolves a dispute between crypto firms and banks over yield-bearing products that could compete with traditional bank deposits. This development advances the proposed Clarity Act, which aims to establish clear cryptocurrency regulations under the Trump administration's crypto reform priorities.

• The compromise allows crypto platforms to offer rewards based on 'real usage' while imposing restrictions to prevent rewards that are 'economically or functionally equivalent' to interest-bearing bank deposits
• The agreement directs regulators to develop new stablecoin regulations, including disclosure requirements and a list of permissible reward activities
• Banks had opposed the original provision fearing stablecoin rewards would attract deposits away from traditional banking, undermining their lending capacity

The FDA has authorized early access to Revolution Medicines' experimental pancreatic cancer pill, daraxonrasib, for previously treated patients before full regulatory approval. The drug targets metastatic pancreatic ductal adenocarcinoma and recently showed positive results in a late-stage trial compared to chemotherapy. This early access program allows patients with serious conditions to receive experimental treatments outside clinical trials.

• Daraxonrasib is designed for patients with metastatic pancreatic ductal adenocarcinoma (PDAC) who have already undergone other therapies
• The drug received FDA priority review voucher status, which expedites development and review for treatments addressing unmet medical needs
• Licensed physicians must submit access requests on behalf of patients; patients and caregivers cannot apply directly to Revolution Medicines

The FDA approved Pfizer and Arvinas' breast cancer drug Veppanu on May 1 for adults with advanced estrogen receptor-positive, HER2-negative breast cancer. The treatment targets patients whose tumors have an ESR1 mutation and have progressed after at least one prior hormone therapy.

• Veppanu is specifically for patients with metastatic or surgically inoperable breast cancer carrying an ESR1 genetic mutation
• Approval is limited to patients whose cancer worsened after receiving at least one prior hormone treatment
• The drug addresses estrogen receptor-positive, HER2-negative breast cancer, a specific molecular subtype of advanced disease

Apple's stock experienced its sharpest rally in 9 months after the company issued fiscal Q3 revenue guidance of 14-17% growth, significantly exceeding analyst expectations of 9.5%. CEO Tim Cook attributed the strong outlook to continued demand for the iPhone 17 and Mac computers, including the newly released MacBook Neo, despite facing supply constraints from a global memory shortage.

• Apple reported fiscal Q2 revenue of $111.18 billion (up 17% year-over-year), beating estimates of $109.66 billion, with services revenue rising 16% to $30.98 billion
• Gross margin reached 49.3%, up from 48.2% in the prior period, with Q3 guidance of 47.5-48.5% showing resilience despite anticipated memory cost pressures
• CEO Tim Cook, who is preparing to step down in September after 15 years, called the iPhone 17 family the 'most popular lineup in our history' and cited 'off the charts' demand for the new lower-cost MacBook Neo

U.S. President Donald Trump announced on May 1 that he will increase tariffs on cars and trucks imported from the European Union to 25%, citing the EU's alleged non-compliance with a trade deal. The tariffs are set to take effect next week, though vehicles produced at U.S. plants will be exempt from the duties.

• Trump claims the EU has not complied with 'fully agreed to' trade deal terms, though specific violations were not detailed in his social media announcement
• The 25% tariff will apply to EU-manufactured cars and trucks imported to the United States starting next week
• Automakers can avoid the tariff entirely by producing vehicles at U.S. plants, potentially incentivizing domestic manufacturing investment

U.S. antitrust authorities have completed their review of Intel's investment in SambaNova, a chip startup chaired by Intel CEO Lip-Bu Tan. Intel invested $35 million in February, increasing its stake in SambaNova to 8.2% from 6.8%.

• Intel's $35 million February investment raised its ownership stake in SambaNova from 6.8% to 8.2%
• The investment raised potential conflict-of-interest concerns given that Intel CEO Lip-Bu Tan chairs SambaNova's board
• U.S. antitrust regulators have now cleared the transaction after completing their review

US stocks rose on Friday, May 1, 2026, with the Dow gaining 180 points (0.36%) as strong corporate earnings, led by Apple and Atlassian, offset concerns about oil volatility and geopolitical risks. The rally capped the strongest monthly gains since 2020 for major indices, though oil prices eased after Iran sent new negotiation proposals via Pakistani mediators.

• Apple reported better-than-expected earnings with strong iPhone 17 and MacBook Neo demand; Atlassian surged nearly 25% after raising its annual forecast
• Oil prices declined with WTI crude falling 2% to above $102/barrel and Brent dropping 0.5% to above $109 following diplomatic developments, though the Strait of Hormuz remains closed
• Investors face seasonal headwinds entering May, with historical data showing S&P 500 gains averaging 2% from May-October versus 7% from November-April, while Q1 GDP grew 2% but consumer spending showed signs of softness

Occidental Petroleum announced that Chief Operating Officer Richard Jackson will replace Vicki Hollub as CEO effective June 1, as Hollub retires after more than 40 years with the company. Hollub, who became the first woman CEO of a major U.S. oil company in 2016, will remain on Occidental's board of directors after her retirement.

• Hollub led Occidental's Permian Basin operations before becoming CEO, building the company into one of the largest operators in the nation's biggest U.S. oil region
• Jackson has been with Occidental since 2003 and currently serves as Chief Operating Officer
• Hollub will continue serving on the board of directors after stepping down as CEO on June 1

Colgate-Palmolive exceeded first-quarter sales and profit expectations on May 1, driven by strong international demand for oral and personal care products despite price increases. The company reported net sales of $5.32 billion versus analyst expectations of $5.22 billion, though it faces mounting pressure from tariffs, raw material costs, and inflationary headwinds.

• Overall volumes rose 1.1% with pricing up 2.2%, though North America segment volumes fell 3.2% as budget-conscious U.S. consumers switched to lower-priced alternatives
• The company warned of significant inflationary pressure from rising oil and commodity prices, with rivals P&G and Kimberly-Clark flagging $1 billion and $170 million in cost hits respectively
• Colgate reaffirmed its full-year outlook but expects volatile macroeconomic conditions and slower category growth to continue through 2026

Cboe Global Markets announced a 20% workforce reduction as part of a strategic realignment to focus on its core businesses, while reporting strong first-quarter results driven by elevated market volatility. The derivatives exchange posted net income of $384.1 million ($3.66 per share), benefiting from heightened options trading activity amid geopolitical tensions including the U.S.-Israel war with Iran and other global events.

• Average daily volume in index options reached an all-time high of 6.1 million contracts in Q1, up from 4.8 million year-over-year
• Market volatility was driven by major geopolitical events including the capture of Venezuela's President Maduro by U.S. forces and Middle East conflict affecting oil supply
• The strong performance mirrors industry-wide gains, with peers CME Group, Nasdaq, and Intercontinental Exchange also benefiting from elevated trading activity

Tesla's vehicle registrations surged across key European markets in April 2025, with Denmark up 102% year-over-year, following two consecutive years of annual sales declines including a 27% drop in 2024. The rebound is driven by increased EV demand since the Iran war began February 28 and fuel prices rose, plus Dutch regulatory approval for Tesla's software subscription service.

• Tesla registrations jumped 102% in Denmark, rose significantly in France, and increased 23% in the Netherlands compared to April 2024
• Despite the sales recovery, Chinese competitors BYD and Xpeng outsold Tesla in the Netherlands and Denmark respectively during April
• Tesla has not launched a new mass-market vehicle since the Model Y in 2020, maintaining a lineup of just two models amid intensifying competition

Pickleball Inc., the parent company of Major League Pickleball and the PPA Tour, raised a record $225 million from Apollo Sports Capital and billionaire Tom Dundon's investment firm, valuing the company at $750 million. The investment reflects pickleball's explosive growth to 24 million U.S. players in 2025, making it the fastest-growing sport in America. The funds will expand the integrated pickleball ecosystem across media, events, equipment retail, and technology platforms.

• Total investment in Pickleball Inc. now reaches $315 million, with the merged business generating over $140 million in 2025 revenue across professional tours, equipment sales, and tournament software
• The deal consolidates multiple pickleball assets including Pickleball Central (equipment retailer founded in 2006), PicklePlay tournament software, and PickleCourt installation services under one umbrella
• Professional pickleball tours (MLP and PPA) generated $30 million in sponsorship revenue and $60 million in combined revenue for 2025, projecting growth to $74 million in 2026

Eli Lilly's newly launched oral weight loss drug reached 5,612 prescriptions in the U.S. during its third week on the market, according to IQVIA data cited by analysts. The prescription tracking provides an early indicator of market adoption for Lilly's obesity pill following its recent launch.

• The drug, an oral obesity treatment, recorded 5,612 prescriptions in its third week post-launch in the U.S. market
• Prescription data was sourced from IQVIA, a healthcare data analytics company that tracks pharmaceutical dispensing
• The launch represents Lilly's expansion in the competitive obesity treatment market with a pill-based alternative to injectable options

Magna International exceeded first-quarter profit and sales estimates on May 1, reporting quarterly sales of $10.4 billion versus estimates of $10.25 billion and adjusted earnings of $1.38 per share. The automotive parts supplier benefited from stronger foreign exchange and resilient demand for auto parts and advanced driver-assistance systems, though it slightly lowered its full-year sales forecast due to tariff impacts and lower vehicle production.

• Quarterly sales rose roughly 3% to $10.4 billion, beating analyst estimates of $10.25 billion, with adjusted profit of $1.38 per share
• Full-year sales forecast lowered marginally to $41.5-43.1 billion from prior range of $41.9-43.5 billion due to higher tariff costs in Q1
• Company faced headwinds from Trump administration tariffs, choppy EV market conditions, and the end of certain programs despite strong demand for auto parts