President Trump shrugs off concerns about his handling of the U.S. economy in an interview with NBC’S Meet The Press, stressing that his main goal is to agree a fair trade deal with China. Warren Buffett shocks Berkshire Hathaway shareholders by announcing his retirement. The billionaire investor has led the company for more than 60 years and will now hand over leadership to vice-chairman Greg Abel. Crude prices fall as Opec+ nations agree to speed up production hikes once again. Also in oil news, Shell is reportedly considering a takeover of rival BP.  

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China said it is mulling tariff talks with the U.S. after the Trump administration reaches out - saying Beijing's door is always open. On the earnings front, Standard Chartered posted a 10% rise in first quarter net profit, with the Asian-focused lender maintaining its guidance despite heightened uncertainty. Apple and Amazon fell in extended trade despite earnings beats, as tariff uncertainty weighs on the outlook for big tech. 

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Meta and Microsoft both score quarterly profit beats on the top and bottom line, unfazed by the Trump tariff war. Qualcomm, however, sees its stock fall in after-hours trade and concern about the levies begins to weigh on its guidance. Spain’s competition watchdog endorses BBVA and Banco Sabadell’s €12bn merger deal. It now requires government approval. And in autos news, Tesla denies it ever considered replacing CEO Elon Musk following his extensive role for DOGE in the Trump administration. Trump, for his part, said Musk could stay in his cabinet as long as he wishes.

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UBS scores a Q1 beat with a better-than-expected net profit of $1.7bn on strong wealth management income. We hear from CEO Sergio Ermotti. Wall Street performance slumps to its worst level during the start of a new White House administration since President Gerald Ford’s in 1974, however Commerce Secretary Howard Lutnick tells our colleagues Stateside the first trade deal is imminent. And logistics giant DHL confirms its FY guidance despite the turbulence caused by Trump’s tariff policies.  

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HSBC launches a $3bn buyback while Deutsche Bank beats on both the top and bottom line. Spain declares a state of emergency following a massive power outage with flights and other transport suspended and mobile and internet connections lost. Portugal was also hit by the blackout. Mark Carney and the Liberal Party are voted into power in Canada setting up a showdown with U.S. President Trump on trade tariffs and independence.  

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President Trump says he has signed more than 200 trade deals to mark his first one hundred days in office amid varied recent polling. U.S Treasury Secretary Scott Bessent says progress is being made in trade talks with many Asian nations. European Commission President Ursula von Der Leyen announces she will meet with President Trump for trade talks following a brief meeting on the sidelines of Pope Francis’ funeral. U.S. equities suffer their worst start to the year in more than 30 years.

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Alphabet shares rose in extended trade after reporting a top and bottom line beat, with its search and advertising units showing strong growth despite increasing AI competition. At the annual IMF meeting, ECB Governing Council Member Robert Holzmann told CNBC that he expects further rate cuts to come, but that the outcome of tariff talks will ultimately decide how much lower the base rate will fall. Bank of England Governor Andrew Bailey told CNBC exclusively that he doesn't think that the U.K. economy is on the brink of a downturn - despite the latest warning from the IMF. Over in Asia, Nissan flags a record loss of up to $5.3 billion dollars due to impairment charges as new CEO Ivan Espinosa attempts to turn around Japan's third largest automaker.

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President Trump is reportedly mulling slashing tariffs on Chinese imports, but Treasury Secretary Scott Bessent said that the country won’t act unilaterally. In Europe, the Kering crisis continues, as Gucci first quarter sales slide by 25%. Meanwhile, Adidas bounces back, posting its strongest start to a year following the company’s turnaround plans. BNP Paribas posted a first quarter beat and confirms its guidance, with CFO Lars Machenil telling CNBC that the French lender is outperforming on all key units. And there’s more bad news for Tesla as its EU car registrations almost halve in the first quarter, while China’s SAIC surge.

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President Trump eases back on Jerome Powell, insisting he has no intentions to fire the Fed Chair – spiking U.S. futures and calming concerns over the Fed’s independence. U.S. markets rebound after Trump backs up comments made by U.S. Treasury Secretary Scott Bessent, saying that the tariff standoff with China is “unsustainable”. Elon Musk pledges to step back from his government work as Tesla posts its biggest earnings miss in half a decade. The IMF slashes its global growth forecast for 2025, warning that President Trump’s tariff policies risk unleashing “major negative shock”. In Europe, the newly crowned most valuable company SAP posts a first quarter operating profit beat – up by 58%.

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The Dow falls as tech stocks fall after President Trump slams U.S. Federal Reserve Chairman Jerome Powell for failing to cut interest rates. The dollar falls to a three-year low on tariff concerns. Chinese battery maker CATL unveils new cells, claiming faster charging times and longer range than rival BYD. Also in autos news, Tesla shares plunge 6 per cent ahead of earnings due out later today with one analyst calling the decline a ‘Code Red’ moment for the firm.   

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