Switch Inc. secured $2.6 billion in bank pledges on April 21, 2026, to fund electricity procurement for its data centers. This move addresses the growing challenge of energy costs in the expanding industry, which is a significant expense for data-center operators. The funding aims to support the industry's continued growth amid rising energy demands.
A coalition of 39 firms, including Nasdaq, has urged the EU to accelerate the implementation of DLT pilot rules, warning that delays could cause Europe to fall behind the US in tokenized finance. The call for action highlights concerns over Europe's competitive edge in the rapidly evolving digital asset landscape. The coalition emphasizes the importance of timely regulation to maintain global leadership.
Investors are avoiding the riskiest US junk debt, particularly those linked to troubled software firms, amid concerns over AI disruption. Despite this cautious stance, they continue to take on risk in other markets. The trend highlights ongoing worries about AI's impact on software companies, leading to a divergence in risk appetite within the high-yield debt sector.
UPS and FedEx have started filing for tariff refunds through the U.S. government’s process, but it may take several months for customers to receive the funds. The move follows recent tariff adjustments, with the companies seeking reimbursement for certain charges. The refunds could impact logistics costs and supply chain dynamics in the coming months.
Prime Minister Mark Carney has assembled a panel of Canadian business leaders, including BMO CEO Darryl White, Teck CEO Don Lindsay, and TC Energy CEO Tracy Robinson, to advise on Canada’s US economic strategy. The panel aims to strengthen economic ties and navigate cross-border relations, reflecting the government’s focus on macro-finance and international trade diplomacy.
German pension fund VBL is shifting its €7 billion ($8.2 billion) residential property portfolio into a new fund structure. This move, announced in April 2026, aims to optimize asset management and investment strategies for the public-sector pension provider. The transfer reflects ongoing adjustments in institutional investment approaches within the European real estate market.
Fredriksen’s oil trading firm faces a $1 billion claim after a failed fraud trial. Two former executives sued the company, alleging that Fredriksen’s “vindictive” lawsuit nearly caused their financial ruin. The legal dispute highlights ongoing tensions within the firm, with the claim amount reflecting the severity of the allegations and the impact on those involved.
