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Global Oil Supply Collapses as Wall Street Warns of Price Explosion

Key Points: The global oil market lost 13.7 million barrels of daily supply due to the ongoing conflict in Iran. Desperate nations drained 7.1 million barrels per day from strategic storage tanks throughout April to manage prices. Physical oil costs reached extreme levels in Asia, with buyers in Sri Lanka paying $286 per barrel. Analysts...

Qualcomm Stock Surges 13% as OpenAI Smartphone Rumors Emerge

Key Points: Qualcomm shares jumped 13% following reports of a new partnership with OpenAI to build a smartphone processor. Tech analyst Ming-Chi Kuo expects the artificial intelligence device to enter mass production by 2028. OpenAI purchased Jony Ive's hardware startup for $6.5 billion last May to lead the design efforts. Apple and Samsung currently control...

European Media Companies Warn EU Regulators Over New Digital Fairness Act

Key Points: Major European media groups sent a letter to EU leaders on April 21, warning about a new digital law. Broadcasters want the Digital Fairness Act to target Big Tech monopolies instead of traditional media outlets. The proposed legislation aims to curb addictive app designs, confusing pricing, and tricky subscription traps. Media executives claim...