Business
Oil Tops $100 as Iran Vows to Escalate War, Trump Says US Will Win
Oil climbs above $100 a barrel as the war with Iran escalates and Tehran says it has no intention of backing down. President Donald Trump says the US will win the war with Iran and suggests the Strait of Hormuz should be renamed the “Trump Strait,” while an Iranian official says Iran is ready to escalate the conflict.
Brent crude rallies as the war disrupts energy supplies and fuels renewed inflation concerns. OPEC output slumps as the conflict curbs Saudi flows, with Saudi production plunging by more than 1 million barrels. Iraq, meanwhile, is seeking a significant increase in its OPEC production quota.
Asian stocks fall as surging oil prices revive inflation fears, while the dollar hovers near seven-month lows. Investors are also weighing higher crude prices against the US Treasury’s buyback plans.
US Treasury Secretary Scott Bessent’s $6 billion buyback plan disappoints investors. His comments on Japan are also raising expectations around monetary policy that the Bank of Japan may struggle to meet, while BOJ official Masu says further rate hikes are needed to complete policy normalization.
The European Central Bank is expected to raise interest rates today as policymakers confront renewed inflation pressures.
Apple enters the foldable-phone market with prices starting at $1,999 as the company positions the iPhone as a personal intelligence hub. Apple’s new iPhone duo reaches $3,199, setting an industry record, as the company prepares for a broader run of product releases.
President Trump floats a $5,000 payment to US adults if Republicans win the midterm elections.
SoftBank plans to repay a $40 billion bridge loan tied to its OpenAI stake.
Shipping nations sound the alarm over an increasingly fragmented global trading system as geopolitical tensions disrupt shipping routes and international commerce.
Dow is weighing an exit from its $20 billion Saudi chemicals venture, while Mubadala backs Luckin Coffee.
Dangote refinery cuts its debt to $5.7 billion ahead of its planned IPO, while Mozambique’s dollar bonds climb to their highest level in six years. Guests includes Carole Nakhle, Crystol Energy CEO, Deepak Mehra, Commercial Bank of Dubai Chief Economist and Richard Windsor, Radio Free Mobile Founder.
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.
Chapters:
00:00:00 – Introduction
00:05:13 – Iran Says It’s Ready to Escalate the War
00:08:23 – Carole Nakhle, Crystol Energy CEO
00:14:43 – Deepak Mehra, Commercial Bank of Dubai Chief Economist
00:27:33 – OPEC Output Slumps as War Curbs Saudi Oil Flows
00:32:21 – Apple Enters Foldable Phone Market
00:35:45 – Richard Windsor, Radio Free Mobile Founder
00:41:14 – ECB Expected to Raise Interest Rates
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BlackRock CEO Larry Fink says delays in building data centers could raise computing costs and threaten economic growth as demand for artificial intelligence accelerates. “The faster we can build out more data centers, the more compute we have, the faster we can bring down the cost,” Fink tells Bloomberg’s Francine Lacqua on the sidelines of the Berlin Global Dialogue.
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Equities fell around the world after leaders of the biggest artificial-intelligence firms proposed slowing the technology’s development, while a jump in oil prices sapped risk sentiment further.
Tech stocks led declines as traders fretted that efforts to rein in the advance of cutting-edge AI could dent the boom driving hundreds of billions of dollars in capital expenditure. Nasdaq 100 futures sank 1.4%. OpenAI backer SoftBank Group Corp. slid the most in three months in Japan, while South Korea’s Kospi index slumped 3.3%. In Europe, the Stoxx 600 was little changed. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – AI Slowdown Fears Hit Markets
00:04:28 – Oil Jumps on Middle East Tensions
00:06:37 – Fed, BOE and BOJ Decisions in Focus
00:11:19 – Saudi Pipeline Closure Pushes Oil Higher
00:14:51 – Central Banks, AI and the Market Outlook
00:24:48 – Margrethe Vestager on Europe’s AI Strategy
00:33:09 – Thoma Bravo on AI, Software and Private Equity
00:40:26 – Could an AI Slowdown Reshape Markets?
00:44:57 – Stocks to Watch: Chips, AstraZeneca and Carlsberg
00:46:17 – European Markets Open
00:50:54 – Investing Through the AI Uncertainty
00:59:42 – European Tech Stocks Sell Off
01:02:06 – AI Slowdown: What It Means for Tech
01:08:31 – UniCredit’s Commerzbank Takeover Push
01:15:33 – Alcon CEO on Trump’s Drug Pricing Push
01:23:44 – Swedish Election Results Too Close to Call
01:28:20 – France Targets €30 Billion in Budget Savings
01:31:21 – Fed, BOE and BOJ: What to Expect This Week
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Anthropic PBC could spend $750 billion on additional computing power in the coming years and it lost $80.7 billion in the first half of this year, according to the Wall Street Journal. The media outlet says it obtained a copy of the company’s S1 filing as it prepares to go public. Romaine Bostick and Jess Menton report.
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Business
Global Bonds Sell Off Amid Inflation Angst; Trump-Xi Summit Concludes | Bloomberg Brief 5/15/2026
A global bond selloff intensifies amid growing concerns over inflation as oil prices climb. The British pound is on track for its worst week since 2024 against the dollar as UK Prime Minister Keir Starmer faces challengers for his position. A two-day meeting between President Trump and President Xi comes to an end with both leaders touting stronger ties between the US and China. Kelsey Berro of JPMorgan Asset Management breaks down the selloff in government bonds. Nicholas Burns, former US Ambassador to China, discusses the Trump-Xi summit.
Chapters:
00:00:00 – Bloomberg Brief
00:00:43 – Global Market Check
00:03:24 – First Look Movers
00:11:15 – Trending on the Terminal
00:19:46 – Front Page News
00:24:14 – Kelsey Berro, JPMorgan Asset Management Income Portfolio Manager
00:31:10 – Trending on the Terminal
00:34:27 – Nicholas Burns, Former US Ambassador to China
00:44:31 – What to Watch
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SpaceX is blowing past all Wall Street expectations in its second earnings report as a public company. Elon Musk’s company posted its first quarterly profit — $4.4 billion, or 35 cents a share, more than double estimates — while spending nearly $20 billion on capex. Ross Gerber of Gerber Kawasaki Wealth and Investment Management, is a shareholder. He says SpaceX should just buy Tesla now.
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