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Israeli strikes in Gaza kill three Palestinians including a child.
Health officials reported that Israeli strikes on the Gaza Strip killed at least three Palestinians - including a child - and injured several others. Medical personnel said that a Palestinian was killed by an Israeli airstrike and two others were injured near the Sheikh Radwan neighborhood in Gaza City. Another Palestinian was also killed by Israeli tank shelling, and several other Palestinians were injured. A medic said that an Israeli air strike on a Gaza police station killed a 15 year old child later in the day. Hamas's interior ministry reported that some policemen were also injured in the attack. Israel's attacks on Gaza’s Hamas-run police force have intensified, as reported previously. The militant group used the force to strengthen its grip in the areas that it controls. No immediate Israeli comments were made on the incidents. Israel has been committing attacks against Palestinians almost every day, despite a ceasefire in October 2025. Israel and Hamas blame each other for ceasefire violations. Mohammed Al-Ghandour, one of the victims killed on Tuesday, was remembered by his family and friends at Al Shifa Hospital. A woman comforted two girls who were crying outside the morgue of the hospital. Abu Omar Al-Naffar, the uncle of the victim, said: "The Zionist enemy does not know what truce is and does no commit to international laws or treaties." Local medics claim that at least 830 Palestinians were killed since the ceasefire agreement came into effect. Israel, on the other hand, claims that militants killed four of their soldiers during the same time period. Israel claims that its'strikes' are intended to thwart attempts by Hamas, and other Palestinian militants, to stage attacks on its forces. According to Gaza health authorities, more than 72,500 Palestinians were killed, the majority of whom were civilians, since?the Gaza War began in October 2023. Israel has occupied more than half Gaza since the ceasefire in October last year. It has forced residents to leave and destroyed almost all structures. Nearly all of the more than 2 million Palestinians who live in Gaza now live in a small strip of land along the coast. They are mostly living in tents or damaged buildings and under de facto Hamas control.
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Ball Corp, a manufacturer of aluminum packaging, beats Q1 expectations on stable demand
Ball 'Corp beat the quarterly results expectations?on Tuesday, and it backed its?annual target. It based this on its ability pass on to consumers aluminum price increases caused by the Middle East Conflict. Analysts expect major shortages of the material in the transport, construction, and packaging industries this year due to the war in Iran. Ball Corp., one of the largest producers of aluminum beverage containers in the world, has been put under pressure by President Donald Trump’s import tariffs. Early trading saw shares of the Colorado-based firm down by 2%. The top beverage producers and consumer packaged goods firms have warned about the impact of higher packaging costs such as aluminum on their profits in this year. Ball Corp claims it does not have direct exposure to the Middle East. However, the higher prices of aluminum linked to the conflict has increased input costs. The company's contracts allow them to pass on these costs directly?to their customers, which limits the impact of this cost on its business. Ball reported revenues of $3.60 billion in the three-month period ending March 31, helped by higher aluminum prices. According to LSEG data, analysts expected an average revenue of $3.36 billion. The company's adjusted quarterly earnings per share surpassed analysts' estimates of 85 cents. Cost of sales increased by nearly 19% to $2.96 billion. North and Central America is the major revenue-generating region for the company. Beverage packaging sales grew from $1.46bn to $1.78bn in a year. Ball reported an increase of 0.8% in global aluminum packaging for the third quarter, compared with a 2.6% growth in the prior year. (Reporting by Sanskriti Shekhar in Bengaluru; Editing by Joyjeet Das)
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US trade deficit increases on imports, while crude oil exports rise
The U.S. Trade Deficit widened in march as a boom in artificial intelligence investments pulled in imports. This more than offset an increase in exports which was partly boosted by crude?oil shipments?amid Middle East conflict. The Commerce Department's report on Tuesday confirmed the fact that the trade deficit was a drag in the economy during the first quarter. Imports of goods are expected to increase, due in part to the AI spending spree. The increase in imports can be offset by the rise in petroleum exports. This is because economists expect that the U.S. and Israeli war against Iran will disrupt oil shipments. We expect the trade surplus to shrink in April, as U.S. oil and petroleum product exports have surged," said Grace Zwemmer of Oxford Economics. The Bureau of Economic Analysis & Census?Bureau, part of the Commerce Department, reported that the trade deficit increased by 4.4% to $60.3 Billion. The economists polled predicted that the trade deficit would reach $60.9 billion by March. The trade deficit subtracted 1,30 percentage points of the growth of gross domestic product in the first quarter. The economy grew by 2.0% annually last quarter. Imports rose 2.3% in March to $381.2 Billion. Imports of goods grew 3.6% to 302.2 billion dollars, driven by capital goods reaching a record high $120.7 billion. Imports are the majority of materials used in AI and the data centers that support it. Imports for computer accessories rose $2.0 billion, while those for computers dropped $2.3 billion. Petroleum and industrial supplies, including petroleum, increased by $2.1 billion. Imports of consumer goods increased by $2.4 billion, while motor vehicles and parts imports grew $3.6 billion. Exports increased by 2.0%, reaching a record high of $320.9 Billion. Exports of goods jumped 3.1%, to a record high $213.5 billion. Exports of industrial materials and supplies reached a record high of $5.0 billion, boosted by an increase of $2.8 billion in crude oil. Fuel oil exports increased by $1.6 billion. The exports of food, feed and beverages increased to the highest level since August 20, mainly due to soybeans. Exports of consumer goods decreased by $1.7 billion. The goods trade surplus grew by 4.8%, to $88.7 Billion. Adjusted for inflation, the goods trade deficit increased 6.7% to $90.8 Billion. Imports of service fell $1.9 billion from $79.0 billion due to a decrease in charges for intellectual property, transport and travel. Travel services contributed to a decline in exports of $0.3 billion, bringing them down to $107.4 Billion. Transport services exports increased, as did?financial services and other business service exports. The U.S. has a goods trade deficit with many countries, including China (Taiwan), Mexico, Canada, India and South Korea. The U.S. deficit with the European Union grew $4.1 billion from $9.2 billion to $9.2 milliards in March. Donald Trump, the president of the United States, has placed tariffs on trading partners citing trade deficits.
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Wall Street regulators scrap climate regulation of Biden's time
According to an 'notice' on the US. Budget office website. The Securities and Exchange Commission made the move a year ago, after refusing to say to a federal judge whether it intended to either change the rule or defend its 2024 regulations from industry-backed legal challenges which 'dogged' the agency’s rule-making under the previous administration. Donald Trump has rejected 'the scientific consensus regarding climate change, and his administration is moving to undo the?related regulations that were adopted by former president Joe Biden. Paul Atkins, SEC chair, said in a statement that the agency is working to rescind this rule and return to the SEC’s “core mandate” of requiring corporate disclosures to focus on information material to investors. He said that was "in accordance with its legal authority." The SEC, under former president Joe Biden adopted watered down rules that required publicly traded companies tell investors about climate related?risks and emissions, and expenditure. Republican-led state and an industry group immediately challenged this in court. The SEC then'stayed' the rule until the court battles were resolved. In March last year, under 'Republican President Donald Trump,' the SEC decided to stop defending the rule in court. Industry and conservative critics claimed that the SEC had exceeded its legal authority. The appeals court suspended the case. After the Office of?Management?and Budget finishes reviewing the draft regulations of the SEC, the SEC could?act? on the proposal. Uncertain is the timeline for final decision. Reporting by Douglas Gillison, Washington; editing by Chizu Nomiyama
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Gold recovers from a more than a month-low; Middle East threats linger
Gold prices rose on Tuesday, after hitting a'more than one-month-low in the previous session. Investors assessed the fragile Middle East ceasefire and its potential impact on inflation expectations and interest rate expectations. Gold spot was up 1% at $4,566.79 an ounce by 8:45 am EDT (1245 GMT) after it reached its lowest level on Monday since March 31. U.S. Gold Futures rose 1% to $4,576,60. Oil prices are also easing, which is supporting the market. The market will continue to monitor headlines but could shift its focus towards economic data, said Jim Wyckoff, a market analyst at American Gold Exchange. He added, "Gold bulls must have a fundamentally significant spark in order to gain their footing." The truce in the Middle East is under threat after the U.S. fired on Iran in the Gulf in their struggle to control the Strait of Hormuz. Since the attacks on February 28, the narrow waterway that carries global oil, fertiliser, and other commodities has been closed. This has led to a rise in prices all over. The oil prices fell on Tuesday. However, the exchange of fires limited losses. Energy prices are rising, which could lead to inflation and delay the easing cycle of central banks. Gold is often seen as a safe haven against inflation and unpredictability, but its appeal tends wane at high interest rates, when rising yields make other assets less appealing. Fawad Rasaqzada is a market analyst for City Index. He said that the demand for safe-haven assets remains even though its influence has weakened. Gold?is being treated more as a risky asset. "However, the need to hedge against inflation,?along with persistent central bank purchases, has helped limit further downside movements so far," Razaqzada stated. The head of the International Monetary Fund warned on Monday that the global economy may face a "much more serious outcome"? if the Middle East conflict drags into 2027 and oil prices reach $125 per barrel. This week, U.S. data will include the ADP Employment Report, April payrolls, and job opening figures. Silver spot rose 1.1%, to $73.53, while platinum grew 2%, to $1984.55, and Palladium climbed 2.4%, to $1515.05. Ashitha Shivaprasad reports from Bengaluru. Mark Potter edited the article.
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The US trade deficit widened in March due to imports, while petroleum exports rose
The U.S. Trade Deficit widened during 'March, as a 'artificial intelligence investment boom 'pulled in imports. This more than offset an increase in exports that was partly driven by the Middle East conflict. The Bureau of Economic Analysis and Census Bureau, part of the Commerce Department, reported that the trade deficit grew 4.4% in March to $60.3 billion. The economists polled by?by predicted that the trade deficit would rise to $60.9 billion in march. The trade deficit 'diminished by 1.30 percentage points the growth of gross domestic product in the first quarter. The economy grew by 2.0% on an annualized basis last quarter. Imports grew 2.3% in March to $381.2 Billion. Imports of goods rose 3.6%, to $302.2 billion. This was mainly due to the surge in capital products to a record-high $120.7 billion. Exports rose by 2.0% to a record high of $320.9 Billion. Goods exports rose 3.1% to $213.5 Billion, a new record. This was due to an increase in petroleum shipments. U.S. and Israeli 'wars with Iran', which have disrupted oil shipments, raised 'crude prices and caused disruptions in oil shipments, are likely to further increase petroleum exports in the months to come. The U.S. has a large oil export market. Reporting by Lucia Mutikani, Editing by ChizuNomiyama
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ROI-Is Wall Street on a boom loop or heading towards a doom loop? McGeever
Wall Street is experiencing a virtuous circle. The expectations of corporate earnings growth and investor returns have pushed benchmark indices to the sky, causing investor optimism to soar. This is the "boom?loop " that Bank of America analysts coined. Or, are we sown the seeds of a reversal which could lead to turbulence? How investors interpret signals is important. Below are a series of charts & graphics that highlight a few key trends behind today's eye popping headline index numbers. These stretched metrics could indicate that the market has become dangerously overvalued or that we are in the beginning stages of a hyper-bullish market fueled by artificial intelligence. This is the trillion-dollar problem. DIVIDEND YIELDS ULTRA-LOW S&P 500 Dividend Yield - total dividends divided against the value of index - currently stands at just 1.1%. This is only 50 basis points away from the lowest level seen in the last half-century and since 2000. A higher S&P dividend yield indicates that the index is cheap and vice versa. A lower yield could also reflect that dividends are a smaller part of total returns for investors than they were in the past. It is clear that U.S. stocks are pricing in optimism. Remember that the last time dividends yields were so low was in 2000 when the dotcom boom burst. SKY-HIGH EARNINGS ESTIMATES It is amazing how much the U.S. earning outlook has improved in recent weeks. According to LSEG, the first-quarter growth in earnings per share is projected at 28%. This is almost twice what was expected on April 1 by consensus. The big tech industry is largely responsible for this. Communication services earnings will rise by over 55% in the first quarter of this year compared to the fourth quarter last year. Information technology earnings are expected to increase by nearly 52% to $189 billion. Analysts expect a 46% increase in EPS this year. On April 1, the consensus was 18% and on January 1, it was below 8%. NEGATIVE EQUITY RISK PREMIUM The "equity premium", or the difference between equity and bond yields, has dropped below zero. It is now at its lowest level since July of last year and is fast approaching 2024's low of minus 0.7%. The ERP has been negative since 1999. A negative ERP is a sign of either high stock prices or low bond prices. Or both. Prices may not be stretched if they're supported by sound fundamental reasons. What is the latest verdict? It depends if you believe the AI tech boom is going to continue to drive earnings. AI CAPEX SET RECORDS The U.S. has experienced one of the largest corporate investment booms ever, as megacap hyperscalers are building the infrastructure which will?underpin the AI revolution. The current buildout is larger than the Manhattan Project or Space Race and is similar to the railroad boom of the 19th century. Analysts at Morgan Stanley and Goldman Sachs have just increased their forecasts of how high this spending will rise. Morgan Stanley now expects that the five largest U.S. hyperscalers will spend $800 billion on AI this year, and $1.1 trillion in 2019. This is up from their previous predictions of $765 billion and $850 billion. Goldman's analyst expects cumulative AI infrastructure expenditure to reach $7.6 trillion in 2031. Both bullish and negative market views are supported by these staggering?figures. The bull wonders how an investment of this magnitude can produce anything other than Wall Street's record-breaking run? The bear wonders how the project will be funded and, most importantly, if?these gargantuan expenditures can generate a return on investment that is sufficient. Answers to these questions will determine the future of Wall Street and?U.S. The answers to these questions will determine how Wall Street and the?U.S. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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Chambers of Commerce predict that German exports will flatline in this year due to Middle East uncertainty
The Chambers of Commerce said that German exports will stagnate in this year. They lowered their previous forecasts for a slight increase as the companies in Europe's biggest economy are facing?supply-chain snarls, and uncertainty due to the Iran War. The German Chambers of Industry and Commerce had previously predicted a 1.0% rise in exports of both goods and services. Volker Treier is the head of DIHK's foreign trade. In a survey conducted by DIHK, 4500 German companies that operate abroad reported that high energy prices are a major business risk. This is more than twice the number of respondents in 2025. 40% also cited disruptions to supply chains, and 37% cited raw material costs. A MORE PESSIMISTIC PENSION The survey also revealed that 32% of respondents were pessimistic regarding the medium-term economic outlook. They believe the economy will worsen over the next year as the Iran War exposes the vulnerabilities in global supply chain. This is an 8-point increase from DIHK's last survey, which was officially called the AHK World Business Outlook and conducted before the U.S. vs. Israel war with Iran broke out at the end of February. "This is not just an economic slowdown. "Uncertainty has become the main factor," said?Treier. The authors of the survey said that the geographical impact on German companies with overseas operations is dependent on their dependence on oil and natural gas imports from Gulf Region. The majority of companies in Asia-Pacific, including China, and those 'closest to conflict zones', are sceptical regarding the months ahead. Companies operating in China and the United States, as well as South America's Mercosur region, remain relatively optimistic. (Reporting and editing by Barbara Lewis, Susan Fenton and Miranda Murray)
Sources: Trafigura is one of three bidders to buy a minority stake in South Africa’s Natref oil refining company.
Two sources familiar with the matter said that Trafigura, a global commodities trader, is "among" three companies competing for a 36.36 percent stake in Natref Refinery of South African petrochemical giant Sasol.
After the British-based Prax group, which bought the minority stake in South Africa's sole inland crude oil refining plant from TotalEnergies two years ago for an undisclosed amount, went into bankruptcy in 2025, the remaining shares in the 108.500 barrels per daily plant are up for sale.
South?African fuels are among the biggest in Africa, and analysts predict that it will continue to grow for?the near future. This is in contrast to other regions like Europe where a switch to greener energy has slowed oil demand.
Trafigura has not been in exclusive talks with Trafigura about the asset.
They declined to identify themselves as they were not authorized to speak in public.
SASOL HOLDS MAJORITY INTERESTS
Simon Baloyi, CEO of Sasol and former Natref majority shareholder, said in an interview with the.
Sasol refused to comment further on the request for a comment from Prax.
Two sources claimed that two black-owned South African companies are also in the race and could be supported by a western partner at a later stage.
South Africa, since the end of white minority apartheid rule in 1994 has been pursuing a policy of Black Economic Empowerment. This is aimed at opening up sectors of its economy that were previously closed to the Black majority.
Sources declined to name them due to the sensitive nature of the bids in progress and the possible impact on their positions.
Trafigura competes in South Africa with rivals such as Vitol, Glencore, and others. Trafigura signed a $1 billion deal last month with Gabon for crude deliveries spread over seven years. Reporting by Wendell Roelf, Ahmad Ghaddar, and Rob Harvey in London; Nelson Banya at Johannesburg; and editing by Alex Lawler & Barbara Lewis.
(source: Reuters)