Indian banks have been unable to import gold and silver for five weeks, an unusually long halt that’s pushing up domestic prices and threatening shortages in the world’s second-biggest bullion market.
The suspension of a short-lived US plan to guide vessels through the Strait of Hormuz has underscored the difficulty of securing the waterway and left shipowners grappling for credible workarounds.
US gasoline prices topped $4.50 a gallon for the first time since July 2022, extending their march higher as drivers face further strain from the prolonged conflict in the Middle East.
Commodities trader Trafigura Group plans to re-domicile a key holding company through which employees own their shares in the business from the Netherlands to Bermuda.
The chief executives at some of the largest Italian banks are girding up for more acquisitions, potentially extending a wave of transactions across the country’s finance industry.
Novo Nordisk on Wednesday narrowly improved its financial guidance for a year where it still sees profit and sales falling after the fastest take-up in weight-loss drug history for its Wegovy pill.
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead.
On today’s show, President Trump says the US plan to guide stranded ships through the Strait of Hormuz is being paused to see if an agreement can be reached with Iran to end the war.
Iran’s Foreign Minister Abbas Araghchi is in Beijing, where he’s held talks with Chinese Foreign Minister Wang Yi. The meeting comes just days before Donald Trump is scheduled to arrive in the Chinese capital.
Plus, a busy day for earnings: Novo Nordisk has nudged its sales forecast higher, lifted by its new Wegovy pill. The German chipmaker Infineon has given a better-than-expected revenue forecast, as it benefits from the AI spending boom. And BMW’s carmaking returns fell in the first quarter, hit by intense competition in China.
Today’s guests: Oliver Dörre, Hensoldt, CEO; Torgrim Reitan, Equinor, CFO & Sven Schneider, Infineon, CEO (Source: Bloomberg)
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
