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The Federal Reserve held interest rates steady at 3.5% to 3.75% at Jerome Powell’s final meeting as chair, but deep internal divisions emerged over the future policy path, with four officials dissenting on guidance. While most supported maintaining an easing bias that suggests eventual rate cuts, others opposed it, and one policymaker favored an immediate cut, highlighting uncertainty as inflation risks persist. Mr. Powell also announced he will remain on the Fed’s board after stepping down as chair in May, breaking with precedent, citing concerns that legal and political pressures on the institution are undermining its independence. His successor, Kevin Warsh, will inherit a complex environment shaped by ongoing inflation around 3%, new energy-related shocks linked to geopolitical tensions, and questions over whether current policy is sufficiently restrictive.

 

The Hill

CNBC

Reuters

Wall Street Journal

Most Finance Teams Are Piloting AI But Seeing Little Return  

52% of finance teams are in active AI pilots, yet only 1 in 5 report meaningful integration of AI into core processes. For CFOs, the pressure to move fast is real, but so is the risk of stalling in experimentation mode. A new CFO AI Roadmap outlines a structured path from pilot to practice, covering AI maturity assessment, governance, and prioritizing use cases across planning, forecasting, reporting, and close.  

Get the CFO AI Roadmap

 

Johnson & Johnson chief information officer Jim Swanson says the New Jersey-based pharmaceutical ⁠company is using artificial intelligence to reduce by half the time it ‌takes to generate new leads for developing treatments. Swanson said that while discovering new products outright and bringing them to market using AI is not yet possible, J&J is using the technology to screen the "potential universe" for promising chemical compounds or ​biologics. "We're trying to cure cancer," he added. "We need every tool that we can leverage ​to be able to do that." 

 

U.S. News

U.S. District Judge Gregory Williams has said battery maker Duracell must face a lawsuit accusing it of stealing trade ​secrets related to German chemical company BASF's new tab lithium-ion battery ‌technology. Williams rejected Berkshire Hathaway-owned Duracell's bid to throw out the 2025 lawsuit related to BASF's effort to manufacture lower-cost ​materials for high-powered batteries.

 

U.S. News

Quantum computing companies are accelerating plans to go public, with three firms already listing in 2026 and up to five more expected, potentially tripling the number of publicly traded pure-play quantum businesses as strong investor demand drives high valuations. The surge reflects growing enthusiasm for quantum technology’s long-term potential, with companies using public listings - often via SPACs - to raise capital quickly, fund development, and compete for talent in a race to commercialise the technology. Recent listings include Infleqtion, Xanadu, and Horizon Quantum, joining earlier entrants such as IonQ and Rigetti. Investor interest has been fuelled by increasing government support, advances in the broader tech ecosystem, and parallels with the early growth of artificial intelligence. Some analysts suggest quantum computing could reach commercial viability by the end of the decade.

 

Wall Street Journal

Wells Fargo is ramping up its Wall Street trading business following the removal of a Federal Reserve asset cap, significantly increasing trading-related assets by more than 40% year over year in the first quarter and driving a 19% rise in markets revenue. The bank is investing to catch up with larger rivals in trading and investment banking, aiming to attract more client activity and boost long-term returns, although the expansion is currently weighing on margins and faces risks from market volatility and intense competition across major banks.

 

Wall Street Journal

Amazon has published its first-quarter results, with net profit up 77% to $30.3bn and revenues rising 17% $181.5bn, both comfortably ahead of market expectations, driven by robust performance across cloud, advertising and core retail operations. Amazon Web Services remained a key growth engine, with revenue rising 28% year-on-year to $37.6bn, its fastest expansion in more than three years, while advertising revenue increased 24% to $17.2bn, highlighting continued momentum in higher-margin segments. Online store sales, still the company’s largest revenue contributor, grew 12% to $64.3bn, also beating forecasts. However, the company’s aggressive investment in artificial intelligence (AI) and infrastructure continues to weigh on cash generation. Free cash flow fell 95% year-on-year to $1.2bn, while capital expenditure remains elevated, with Amazon projecting around $200bn of spend in 2026. 

 

CNBC

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The Seattle Times

Wall Street Journal

Microsoft has reported better-than-expected quarterly results, with revenue rising 18% to $82.9bn and earnings per share of $4.27, driven by strong cloud performance including 40% growth in Azure. The company forecast 2026 capital expenditure of $190bn - well above expectations - citing rising memory and infrastructure costs linked to AI demand, while guidance for next-quarter revenue and margins came in slightly below forecasts despite continued strong adoption of AI tools such as Microsoft 365 Copilot.

 

Bloomberg

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Wall Street Journal

Alphabet has reported first-quarter revenue of $109.9bn and earnings per share of $5.11, both ahead of expectations, driven by strong growth in its cloud division, where revenue rose 63% to $20.0bn amid surging demand for AI services. The company increased its 2026 capital expenditure guidance to $180bn–$190bn and signalled a further “significant” increase in 2027 as it invests heavily in AI infrastructure, while net income rose 81% to $62.6bn and overall revenue grew 20%, its fastest quarterly growth since 2022.

 

Bloomberg

CNBC

Euronews

Wall Street Journal

Meta has reported a 33% rise in first-quarter revenue to $56.3bn and net income of $26.8bn, both ahead of expectations, although profits were boosted by an $8bn tax benefit. The company increased its 2026 capital expenditure guidance to $125bn–$145bn, up by $10bn, citing higher component and data center costs as it accelerates artificial intelligence investment, while noting a slight decline in daily active users and forecasting second-quarter revenue of $58bn–$61bn.

 

Bloomberg

Reuters

Wall Street Journal

The U.S. goods trade deficit widened more than expected in March, according to the Commerce Department, rising 5.3% to $87.9bn, as a sharp increase in imports outpaced export growth and pointed to a potential drag on first-quarter economic performance. Imports climbed by $9.6bn to $299.3bn, driven by strong demand across categories including motor vehicles, food, capital goods, and industrial supplies, while exports rose by a smaller $5.2bn to $211.5bn, with gains in vehicles, energy-related goods, and capital equipment partly offset by a decline in consumer goods shipments. The Commerce Department also reported Wednesday that U.S. durable goods orders increased 0.8% to $318.9bn in March, exceeding forecasts and ending a three-month decline, driven by gains across key categories. Orders excluding transportation rose 0.9%, while shipments also increased 0.7%, indicating a modest rebound in manufacturing activity.

 

Reuters

RTT News

Wall Street Journal

The U.S. Federal Trade Commission (FTC) has reported that losses from social media scams have surged eightfold, with nearly 30% of victims indicating that these scams began on social platforms. Facebook was the leading source of these scams, significantly outpacing WhatsApp and Instagram. The FTC noted that shopping scams were the most prevalent, with over 40% of victims losing money on items advertised online. Investment schemes also contributed to $1.1bn in losses.

 

Techcrunch

CNET

Companies are adapting to the complexities of the global minimum tax under Pillar Two, which lacks a central registration portal. This results in a fragmented compliance process, as firms must navigate multiple tax authorities and jurisdictions. Karen Nally, head of tax at Unite, highlights that "the challenge is no longer just tax efficiency: it's navigating a regime where compliance, strategy, and geopolitics are increasingly intertwined." The introduction of safe harbors aims to ease the transition, but companies are still restructuring to optimize their tax strategies. As traditional tax havens lose appeal, new jurisdictions are emerging, maintaining nominal rates while offering incentives. Ultimately, Pillar Two marks a significant shift in global tax policy, focusing on how profits are taxed rather than where they are booked.

 

Bloomberg Tax

Labor prosecutors in Brazil have filed lawsuits against ​five firms, including grain trader Cargill and meatpacker JBS, over labor abuses in ‌their supply chains. JBS is being requested to pay ​around 119 million reais ($23.78m) in ​damages in a case where workers in Para state were found in “slavery-like” conditions in ​the company’s supply chain. Cargill is ​being sued for 109 million reais for “grave ‌violations ⁠of human rights” in its soy supply chain in Rondonia state.

 

Reuters

FIFA is close to securing a U.S. federal tax exemption for all 48 teams competing in the 2026 World Cup following negotiations with the Treasury, allowing national associations to apply for nonprofit status that could save millions, although state and local taxes may still apply. The move comes alongside a 15% increase in tournament payments to $871m, with each team guaranteed at least $12.5m, helping address concerns over the rising costs of participation.

 

The Guardian