Trending Market News

Shell will allow shareholders to vote on a Follow This climate resolution at its annual general meeting, requiring the company to disclose how its strategy would perform under scenarios of declining oil and gas demand. This contrasts with BP's decision to block the same resolution from its AGM agenda, a move that triggered criticism from some investors. Shell opposes the resolution, arguing its existing disclosures already address these questions and that passing it would constitute poor governance.

• The Follow This resolution calls on Shell to disclose strategy performance under declining fossil fuel demand scenarios, which BP deemed invalid and refused to include on its AGM ballot
• Shell claims the resolution would be 'against good governance' as it would bind the company to scenarios subject to change, despite allowing the shareholder vote to proceed
• BP's blocking of the resolution has drawn criticism from some investors, highlighting different approaches among major oil companies to climate-related shareholder proposals

Amazon is in advanced talks to acquire satellite telecom company Globalstar, according to Bloomberg News. The deal could be announced as soon as Tuesday and would support Amazon's efforts to build its own satellite operation. Reuters has not independently confirmed the report.

• The acquisition would strengthen Amazon's satellite capabilities and push into space-based telecommunications
• An announcement could come as early as Tuesday, according to sources familiar with the matter
• Globalstar is a satellite telecom group that would provide Amazon with existing satellite infrastructure and operations

United Airlines CEO Scott Kirby has proposed a potential merger with American Airlines Group to senior government officials, according to Bloomberg News. It remains unclear whether formal discussions have begun or if a deal process is underway. Reuters could not independently verify the report.

• Kirby pitched the merger idea to senior government officials, though no confirmation exists of formal overtures or an active deal exploration process
• A combination would involve two of America's largest airlines, raising likely regulatory scrutiny and antitrust concerns
• Neither United Airlines nor American Airlines has publicly commented on the reported merger discussions

Oracle expanded its partnership with Bloom Energy to procure up to 2.8 gigawatts of fuel cell capacity for AI data centers, just four days after receiving a $400 million stock warrant in the company. The warrant investment has already gained over $300 million in value as Bloom Energy's stock soared following the announcement.

• Oracle contracted for 1.2 gigawatts of Bloom fuel cell capacity with deployment planned through 2027, part of a total agreement for up to 2.8 gigawatts
• The $400 million stock warrant issued Thursday has already appreciated by more than $300 million as Bloom Energy's stock surged after hours Monday
• Bloom Energy's fuel cells provide on-site power for data centers without requiring grid connection, enabling rapid deployment to meet AI infrastructure demands

The U.S. FDA has approved expanded use of Travere Therapeutics' drug Sparsentan to treat focal segmental glomerulosclerosis (FSGS), a rare kidney disease. This makes Sparsentan the first drug of its kind approved for FSGS, which causes kidney scarring and can lead to kidney failure. The drug is already approved under the brand name Filspari for IgA nephropathy.

• Sparsentan becomes the first approved drug specifically for FSGS, a rare kidney disorder that scars filtering units and causes protein leakage, swelling, and potential kidney failure
• The drug works by blocking two key receptors to protect kidney cells, reduce protein leakage, and slow disease progression
• Travere stated the drug will be immediately available for nephrologists to prescribe to FSGS patients, following an FDA review extension to gather additional clinical benefit data

Bloom Energy will supply Oracle with up to 2.8 gigawatts of fuel cell capacity under an expanded agreement to meet rising power demands driven by artificial intelligence. The deal includes an initial 1.2 GW already contracted, with deployment underway and continuing into next year. The fuel cells offer faster deployment than traditional power options and provide a cleaner energy alternative.

• Initial 1.2 GW of capacity has been contracted with deployment already underway, continuing into next year
• Bloom's fuel cell systems can be deployed faster than traditional power options, reducing project risks and accelerating electricity availability
• Fuel cells generate electricity through chemical reactions rather than combustion, producing cleaner byproducts like water and heat

Brazilian state-run oil firm Petrobras is in early negotiations with Abu Dhabi's Mubadala sovereign wealth fund to repurchase the Mataripe refinery, Brazil's second largest refinery. The potential deal, which could close by year-end, comes as President Lula pushes to reverse his predecessor's asset sales and address rising fuel prices ahead of October's presidential election.

• Mataripe refinery currently operates at only 60% capacity while Petrobras' other plants run at maximum capacity to boost local production
• The repurchase gains urgency after U.S.-Israel conflict with Iran caused diesel prices to surge, impacting Brazilian consumers as the country imports about 25% of its diesel needs
• Rising fuel prices have become a major political concern for President Lula ahead of October's election where he seeks a fourth non-consecutive term

Kevin Warsh, President Trump's nominee for Federal Reserve chair, has submitted required financial disclosures to the Senate, moving closer to a confirmation hearing that could occur next week at the earliest. However, his path to confirmation remains uncertain as Senator Tillis has vowed to block final approval until a criminal probe into current Fed Chair Powell is resolved, despite Powell's term expiring May 15.

• Warsh is married to Estee Lauder heir Jane Lauder, whose net worth Forbes estimates at $1.9 billion, which delayed the initial hearing scheduled for this week while financial disclosures were completed
• Senator Tillis (R-N.C.), a member of the Senate Banking Committee, has pledged to block Warsh's final Senate vote until a federal criminal investigation into current Fed Chair Powell concludes
• The Trump administration expects to have Warsh confirmed by May 15 when Powell's term as chair expires, though the timeline remains tight given procedural requirements

Anthropic is in discussions with the Trump administration about its new AI model Mythos, despite the Pentagon recently blacklisting the company as a supply-chain risk following a contract dispute over guardrails for military use of its AI tools. Co-founder Jack Clark emphasized the company's commitment to national security and stated they will continue engaging with the government on future models.

• The Pentagon barred Anthropic and its contractors last month after disagreements over how the military could use the company's AI technology
• Mythos, announced April 7, is described as Anthropic's 'most capable model' with advanced coding abilities that could identify cybersecurity vulnerabilities and exploit them
• A federal appeals court has upheld the Pentagon's national security blacklisting of Anthropic, though details of which government agencies are involved in current talks remain unclear

A nationwide Danish study of over 1.5 million children born between 1997 and 2022 found no association between Tylenol (acetaminophen) use during pregnancy and autism in children. The findings contradict earlier research that suggested a possible link and come as the FDA has been considering label changes to warn about potential neurodevelopmental risks.

• Among 31,098 children exposed to Tylenol in the womb, 1.8% were later diagnosed with autism compared to 3% in the unexposed group, showing lower rates in exposed children
• The FDA initiated a label change process in September to warn about potential autism and ADHD risks, while RFK Jr. previously claimed Tylenol 'definitively causes autism' before moderating his stance
• Multiple national and international medical groups have opposed restricting Tylenol use during pregnancy, and the FDA declined to comment on the status of its planned label change

Oracle's stock surged 11% on April 13, 2026, leading a broad rally in software stocks amid hopes for a U.S.-Iran peace deal. The rebound follows a brutal year-to-date selloff driven by fears that AI tools from companies like Anthropic and OpenAI will disrupt traditional software business models and concerns about rising default risks in the private credit market where software companies are major borrowers.

• Software stocks have experienced severe losses in 2026, with HubSpot down nearly 50%, Atlassian down over 60%, ServiceNow down more than 40%, and Oracle down over 20% year-to-date
• The selloff stems from fears that new AI models will enable customers to build websites, software, and apps in minutes, eroding software companies' growth and profit margins
• The software sector's decline is creating contagion in private credit markets, where software companies are major borrowers, raising concerns about increased default risks across the sector

Texas Attorney General Ken Paxton has launched an investigation into Lululemon Athletica over potential PFAS ('forever chemicals') in its activewear products. The probe will examine whether the athleisure brand's apparel contains harmful synthetic materials that contradict its health-focused marketing to consumers. PFAS are widely used chemicals linked to serious health risks including cancer, infertility, and endocrine disruption.

• The investigation will examine Lululemon's testing protocols, restricted substances list, and supply chain practices against Texas state safety standards
• PFAS (per- and polyfluoroalkyl substances) are called 'forever chemicals' because they do not break down easily in nature and are associated with harmful health effects according to the EPA
• Lululemon is already facing challenges including weak annual results, tepid demand, and an ongoing proxy fight with its founder

Over 1,000 Hollywood professionals, including actors Jane Fonda, Joaquin Phoenix, and Mark Ruffalo, signed an open letter opposing Warner Bros Discovery's proposed $110 billion merger with Paramount Skydance. The signatories warn the deal would reduce competition, eliminate creative opportunities, and deepen media consolidation in the U.S.

• The merger would unite two of Hollywood's largest studios and combine streaming platforms Paramount+ and HBO Max into a single service
• The letter argues consolidation would result in fewer films produced, narrower range of stories financed, higher costs, and reduced job opportunities across the production ecosystem
• U.S. and European regulators are expected to scrutinize the deal, with California Attorney General Rob Bonta announcing a 'vigorous' state probe of the transaction

President Donald Trump's Truth Social account removed an AI-generated image depicting him as a Jesus-like figure after facing significant backlash from religious commentators and political figures. The image was posted Sunday night following Trump's criticism of Pope Leo XIV over U.S. military actions against Iran and Yemen. The post drew condemnation from evangelical and conservative Christian voices who called it blasphemous.

• The AI-generated image showed Trump in a white robe with a glowing hand laying on a sick person, with American flags, eagles, and military planes in the background
• Conservative Christian commentator Megan Basham called it 'OUTRAGEOUS blasphemy' and demanded Trump take it down and ask forgiveness from Americans and God
• Former Rep. Marjorie Taylor Greene denounced the post, noting it came on Orthodox Easter after Trump attacked the Pope for opposing his Iran war actions

Chevron and Shell are set to sign agreements with Venezuela on Monday to operate oil and gas fields in the country. Chevron will regain control of an offshore gas field and participate in a heavy crude area, while Shell will take over operation of the Loran gas field. The deals mark a significant expansion of major Western oil companies' presence in Venezuela.

• Chevron will sign agreements to return an offshore gas field to Venezuela and participate in an extra heavy crude area at the country's main oil region
• Shell will receive operational control of the Loran gas field under a separate agreement
• The signing is scheduled for Monday, according to three sources familiar with the preparations

Meta Platforms is projected to surpass Alphabet's Google in global digital advertising revenue by the end of 2026, according to Emarketer. This shift is driven by Meta's accelerated growth rate of 24.1% in 2026 compared to Google's 11.9%, marking a significant change in digital advertising dominance. Meta's Advantage+ automated ad suite and expansion into WhatsApp and Threads advertising are key factors behind the momentum.

• Meta's ad revenue growth rate is expected to reach 24.1% in 2026, up from 22.1% in 2025, while Google's growth remains steady at 11.9%
• Meta's Advantage+ automated ad suite has gained strong advertiser adoption by streamlining campaign setup and improving return on marketing spend
• Google, Meta, and Amazon are projected to control 62.3% of global digital ad spending in 2026, with smaller platforms like Snap and Pinterest most vulnerable to budget cuts

The FDA rejected Replimune Group's melanoma therapy RP1, causing shares to plummet and prompting Jefferies to slash its price target by over 80% from $13 to $2. The biotech company, which sought accelerated approval based on a 34% response rate in advanced melanoma patients, announced it will halt further RP1 development without timely FDA approval and implement significant workforce reductions.

• Jefferies downgraded Replimune to 'Hold' from 'Buy' with a price target cut to $2 from $13, expecting shares to drop over 50% following the FDA rejection
• Replimune's RP1 therapy showed a 34% response rate and 24.8-month median duration of response in the IGNYTE trial, but the FDA deemed the data insufficient for accelerated approval
• The company's cash runway extends only into Q1 2027 and may not cover key clinical milestones, including overall survival analysis from the IGNYTE-3 study expected in 2027

BlackRock, the world's largest asset manager and third-largest investor in Monte dei Paschi di Siena, has decided to support a dissident investor's proposal to reinstate ousted Chief Executive Luigi Lovaglio. This move represents a significant intervention in the Italian bank's governance dispute and signals BlackRock's dissatisfaction with the current board's leadership decisions.

• BlackRock is backing rival candidates in opposition to the current board, supporting efforts to give former CEO Luigi Lovaglio a new mandate after his ouster
• As the third-largest shareholder in Monte dei Paschi, BlackRock's position carries substantial weight in the governance battle at Italy's troubled lender
• The asset manager's support for dissident investors indicates broader shareholder discontent with recent management changes at the bank

Telecom Italia (TIM) has appointed Goldman Sachs and Evercore as financial advisers to help review a cash-and-stock bid from state-backed Poste Italiane. The move signals TIM is formally evaluating the offer from the Italian postal and financial services conglomerate. All parties declined to comment on the advisory appointments.

• Goldman Sachs and Evercore will advise TIM on evaluating Poste Italiane's combined cash-and-stock offer
• Poste Italiane is a state-backed conglomerate, adding strategic complexity to the potential transaction
• TIM, Goldman Sachs, and Evercore all declined or were unavailable to comment on the engagement

A pilots' strike at Lufthansa and its subsidiary Eurowings on Monday and Tuesday caused hundreds of flight cancellations, affecting over 50,000 passengers at major German airports. The walkout stems from a dispute between the Vereinigung Cockpit union and Lufthansa over pension scheme contributions, with the union demanding the airline more than double its payments.

• Frankfurt airport saw 570 cancellations, while Munich reported 720 cancellations over the two-day strike period
• Two-thirds of Lufthansa's short and medium-haul flights were cancelled along with half of long-haul flights; Eurowings operated only 60% of scheduled flights
• The core dispute centers on company pension contributions for pilots, with the union demanding Lufthansa more than double its current payments