Cleveland-Cliffs CEO says the company is no longer in a rush to finalize a deal with POSCO, citing rising US steel prices and strong auto industry demand. The shift reflects improved market conditions, giving Cleveland-Cliffs more leverage and flexibility in negotiations, potentially delaying the deal’s closure until market dynamics stabilize further.
The Strait of Hormuz remains effectively closed, despite claims by Iran and the US that it had reopened. Traffic through the vital oil route has slowed to a trickle, raising concerns over potential disruptions in global oil supplies. The situation underscores ongoing tensions in the region, with no clear resolution as of April 2026.
The Baltic Exchange in London is consulting the shipping market to revise its benchmark tanker rate due to the Iran war, which has closed the Strait of Hormuz. This disruption, affecting key trade routes, has prompted discussions on adjusting rates to reflect the new geopolitical landscape, impacting global shipping and oil transportation since the conflict escalated earlier this month.
Eurasia Group President Ian Bremmer warns that US-Iran talks may be more political theater than real progress amid Iran's regrouping during a cease-fire. With oil prices influencing global power dynamics, the US's leverage diminishes while China quietly gains ground. The situation highlights the fragile nature of diplomacy and shifting influence in the ongoing Iran conflict.
Hyundai Motor Co. is accelerating US production and reducing expenses to mitigate profit losses caused by tariffs in its largest market. The move aims to strengthen its position amid ongoing trade tensions, with specific plans to increase output in the US, though exact dates and amounts have not been disclosed. The strategy reflects Hyundai’s efforts to adapt to changing trade policies.
Cardano founder Charles Hoskinson criticized Ripple’s XRP model, comparing it to Tether’s strategy. He argued that XRP holders do not benefit from Ripple’s profits, citing Ripple’s $1.2 billion Hidden Road acquisition as an example. Hoskinson emphasized that XRP holders have no ownership stake in Ripple’s earnings or acquisitions, highlighting concerns about the distribution of Ripple’s financial activities.
Ben Kovler, CEO of Green Thumb Industries, highlighted the need for federal cannabis rescheduling, which could instantly transform the $30 billion industry. Speaking on Bloomberg Open Interest, he emphasized that outdated regulations hinder access to capital and research, and that reform could unlock significant growth opportunities, especially benefiting veterans and expanding consumer demand.
